The Crucial Role of Commerce, Marketing, and Service Solutions for Manufacturing Businesses in 2024

The Changing Face of Manufacturing

Gone are the days when manufacturing was a secluded, behind-the-scenes operation. Today, it's a dynamic and interconnected ecosystem that demands a proactive approach to commerce, marketing, and service. Let's break down the significance of each component:

Commerce Solutions: Streamlining Operations and Expanding Reach

In 2024, commerce solutions are not merely about facilitating transactions; they are about revolutionising the entire manufacturing process. eCommerce platforms, integrated supply chain systems, and digital procurement tools are empowering businesses to streamline operations and enhance efficiency.

Example use case:

AAA Manufacturing, a leading player in the automotive industry, embraced eCommerce to its fullest. By implementing an intuitive online platform for B2B transactions, they not only simplified order processing but also expanded their global reach. Customers could now place orders seamlessly, track shipments in real-time, and access a centralised hub for product information.  They aligned their CPQ engine to the eCommerce platform and brought forward the ability to configure bespoke solutions without the need for sales or account reps to spend lots of time doing this for them… which activated the world of self-service for the customer.

The Result: A significant increase in sales, a more agile supply chain, heightened customer satisfaction and improvements in operational efficiencies

Marketing Solutions: Crafting a Compelling Narrative

Marketing is the lifeblood of any successful business, and manufacturing is no exception. In 2024, successful manufacturers are not just selling products; they are selling experiences, stories, and values. Digital marketing tools, social media platforms, and data analytics are the tools of the trade.

Example use case:

ABC Electronics, a player in the consumer electronics sector, realised the power of storytelling. By leveraging social media and content marketing, they transformed their brand perception. Instead of being perceived as a traditional manufacturing entity, they became synonymous with innovation and sustainability.  They recognised the influence of the Gen Z populous and how their values are different from millennials, and they wanted to be able to adapt to the changing tides.

The Result: Increased brand visibility, a loyal customer base, and a competitive edge in a crowded market.

Service Solutions: Elevating Customer Experience

In the manufacturing industry, the after-sales phase is as crucial as the initial transaction. Service solutions in 2024 are not just about fixing problems; they are about pre-emptive measures, predictive maintenance, and creating an unparalleled customer experience.

Example use case:

XYZ Aerospace, a leader in the aerospace industry, invested in cutting-edge service solutions. By implementing IoT sensors and predictive analytics, they could anticipate maintenance needs, reducing downtime for their clients' aircraft. This proactive approach elevated XYX Aerospace from being a product provider to a trusted partner.

The Result: Increased customer loyalty, reduced maintenance costs, and a reputation for reliability.

The Business Benefits of Investing in Commerce, Marketing, and Service Solutions

Now that we've explored the individual impacts of commerce, marketing, and service solutions, let's delve into the collective business benefits that await manufacturing businesses in 2024:

Enhanced Operational Efficiency

By integrating commerce solutions, manufacturing businesses can streamline their operations, from procurement to order fulfilment. This not only reduces the margin for errors but also accelerates the entire production cycle.  Manual processes can be automated and tasks that may have taken days or even weeks can often be reduced to hours or in some cases, minutes.  Additional effects of these benefits can be improvements in hitting SLAs and greater collaboration internally across all of your channels.

Global Market Expansion

Commerce solutions, especially robust eCommerce platforms, enable manufacturing businesses to transcend geographical boundaries. Online transactions, digital marketing, and optimised supply chains open doors to a global market, unlocking new revenue streams.  Investing in commerce will allow your customers to effectively use self-service can allow you to focus your reps on larger accounts, which will bring cost savings, increased order values and increase overall revenue.

Brand Differentiation and Visibility

Marketing solutions play a pivotal role in shaping a manufacturing brand's narrative. By crafting compelling stories, emphasising values, and leveraging digital platforms, businesses can differentiate themselves in a competitive market and enhance brand visibility.  It is not a business that makes a decision, it the people in a business, and they are used to Amazon and TikTok in their personal lives, so they want the same level of engagement in their work lives.  Having a strong marketing solution will also allow the manufacturer to react to changes much faster and with less effort.

Customer-Centric Approach

Service solutions, powered by data analytics and IoT, allow manufacturing businesses to adopt a customer-centric approach. Proactive maintenance, efficient issue resolution, and personalised services contribute to heightened customer satisfaction and loyalty.  The predictive maintenance will allow you to also have a clear line of sight on revenue predictions per customer and highlight where further opportunities to grow that account may exist. The service solution will also help to increase revenue for the manufacturer, by blending service and commerce together, you bring the ability for instant gratification for a customer and remove the barrier of time which can allow people to consider another supplier.

Data-Driven Decision-Making

The integration of commerce, marketing, and service solutions generates a treasure trove of data. Manufacturing businesses can harness this data to make informed decisions, identify market trends, and adapt to changing customer preferences in real-time.  Mining that data is critical, it will allow you to optimise the business across your entire group and make changes to your GTM for the coming months and years.  The quality of that data is vital as well, you get out what you put in, and you need to ensure you have clarity on that before you embark on any solution deployments.

So, to wrap up for 2023...

In the fast-paced world of manufacturing, adaptability is the key to survival. Commerce, marketing, and service solutions are not just tools; they are the catalysts for transformation. As we navigate through 2024, manufacturing businesses must recognise the immense potential these solutions hold and seize the opportunities they present.

You should aim to be like the example use case success stories of AAA Manufacturing, ABC Electronics, and XYZ Aerospace, and become your own testament to the transformative power of strategic investments in commerce, marketing, and service solutions. Embrace the change and let your manufacturing business thrive in the digital era.