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How Marketers Can Navigate the Technology Gap in the Manufacturing Industry

Posted by IndustrySelect on Tuesday, July 2, 2019

100020_manoncellphone.4 MIN. READ

Some manufacturing companies are wary to make investments in technology because they don't have many employees, or they believe that it is too costly. Some don't have websites of their own or even social media accounts.

To reach these manufacturers, marketers need to mind the gap and find a way to utilize other means to connect to them.

Reasons there is a tech gap in the manufacturing industry

It all boils down to the simple concept of human imperfection. Let's face it: Our world today, with its plethora of technological advancements and multi-globally interconnected capabilities, still faces many vulnerabilities and risks altogether, and that is a sad fact.

Perhaps you've heard that you shouldn't "mind the gap," a wise piece of advice to begin with. Now how does this pose a challenge? It does so in many ways.

IndustrySelect helps you reach hard-to-find manufacturers and decision-makers. Learn more about a database subscription.

How this can be a challenge to 'traditional' marketers

Back to the topic of IoT or "internet of things," the rapid growth of app-based smartphones and the faster, higher-speed internet connection globally has changed our use of technology in this age, and there's no denying it.

This even led to the decline of traditional business as we know it.

But is that a bad thing? Since such a clearly accelerated digital lifestyle now spreads more globally, businesses would be wise to keep up with the times and not fall behind on the rocks.

The World Economic Forum even discussed such matters in full agreement as of its meeting last June in China, and you may read more on that discussion here.

Furthermore, as of the last few years, many companies were literally forced to merely reconsider their current business models and how the digital sector will affect every aspect of them.

Even the growth of numerous online, mobile-streaming services like Netflix and Hulu has further pushed legacy media businesses to step back and rethink their own approach to customer retention, considering more digital ramifications and implementations that may take place within the next five years alone.

So, then we ask ourselves, for example, is it any wonder that businesses like Blockbuster and Hollywood filed for bankruptcy?

Streaming services, of course, took over their business, and everything became digital. Nowadays, who needs to go to the store to rent a movie, for example, when they can simply click a couple of buttons within the comforts of their own home? And pay even less as they do so?

Even in regions of the world where that do not have the best internet streaming system or connection, for example, business executives have already made investment plans to target their approach accordingly and eliminate this obstacle.

Interestingly enough, GSMA recent reports show trade body interests within mobile operators globally have generated more than 5 percent in GDP as of Asia Pacific alone.

This accounted to a solid more than $1 trillion in economic value and rising. The GSMA further predicted that within less than three years, such a number would increase to more than $1.5 trillion, which would be more than 5 percent of the region's GDP.

And even businesses like Transfer Wise allow people to trade currencies online, thereby restricting and even debilitating the necessity for traditional banking as a whole; this has prompted many financial institutions to "get creative" as well and come up with their own counterattack solution.

Though banks still carry a few advantages over digital finance platforms, even those using fintech, they would still be wise to employ find new solutions to keep innovating their businesses and growing stronger with their customers.

The current advantages they do hold, on another note, include KYC processing, regulatory body relations, and even certain compliance capabilities altogether.

Yet, their willingness to change their own business mindset will indubitably affect their ability to survive as a business in the scheme of things. And that's the bottom line.

How tools such as databases can help marketers reach manufacturers

Digital tools equal success in today's economy. There's no denying it. And even older businesses are coming to realize it.

How does this all factor in? It does so around AI or artificial intelligence, as well as aspects regarding self-training and automation of robots for their greater utility.

Even the impact of the most advanced technology still stands far outside what many call the "bell curve" of manufacturing's current state.

This applies for most of America and the world. To draw such a bell curve all the way around automation and manufacturing just in the U.S. alone, one would notice that most manufacturing sites only carry 25 employees or less.

According to the U.S. Census Bureau itself, 4,000 or less of more than 200,000 manufacturing sites within America alone employ more than 500 employees.

In most of these manufacturing sites, you have an employer workforce that's measured in dozens but are still not able to make full investments within top technologies like artificial intelligence.

These exist within the bell curve area most heavily impacted by technology in its joint trailing edges, a place where technology is better known to drive down complexity and cost altogether while making accessible high-tech automation solutions as a whole. Cost and complexity will always become factors to take into account.

So, if you're operational branch has 500 employees or even five alone, such technologies are now growing more accessible and affordable, which is the good news to it all.

What many considered to be "bleeding edge" a decade ago now becomes the technology that's more easily deployed and actually becomes the fabric of what many now equate with the IoT at its very core.

As we mentioned, such tools can be significantly beneficial for all these reasons and even more.

And companies that desire long-term growth are now finding that they need to face head on, not shy away from, new technologies that emerge in the realms of fintech and so many others.

This is especially true if companies want to enhance their legacy operations on a more global scale, reaching the masses more effectively.

Explore further for yourself

Looking to access the most up-to-date data on manufacturers? IndustrySelect subscribers can select up to 30 data points on any manufacturing company in the U.S. to help build a powerful list of contacts.

Company profiles also include the contact information for hard-to-find executive decision-makers, so your message gets in front of the right person.Try a free demo today!

 

 

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