Manufacturing sector in Europe Archives - Business Intelligence

Tag: Manufacturing sector in Europe

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Taming Sales Complexity in the Manufacturing Industry

As the growth of the manufacturing industry continues to soar, it is natural that the buying processes involved have consequently become more complicated, lengthier, and involving more stakeholders in the sales cycle. While growing manufacturing companies make supplier collaboration and diligence on the manufacturing floor a top priority, eliminating complexity from customer-facing processes often takes a backseat. Furthermore, as product portfolios grow broader, multi-year service contracts are becoming the new normal and shorter product lifecycles are bound to make the sales manager’s job in the manufacturing industry even more challenging. Based on our expertise in helping manufacturing sector clients to overcome similar challenges, we have listed out some ways by which sales managers in the manufacturing industry can overcome complexities.

Want to learn more on how sellers in the manufacturing sector can better keep up with the rapid changes in buyer behavior? Request a free proposal for comprehensive insights on our solutions for companies in the manufacturing industry.

Communicate with decision-makers

Generally, most B2B purchases in the manufacturing sector involve at least five or more people. Each of these stakeholders will also be in charge of different teams that could influence their key decision-making. It is vital for the sales team in the manufacturing sector to be able to gain a comprehensive understanding on the company including its culture, goals, and what support their primary contact needs in order to get others onboard. A best practice here is to think through the mind of the buyer and how they would convince their team about your products. If the key questions of the key stakeholders can be effectively taken care of, then it becomes for easier for sales managers to close the deal.

Customize based on the requirement

Different internal stakeholders in a buying organization will have different requirements. As such, the one-size-fits-all approach here could prove to be ineffective. Therefore, it becomes essential for manufacturers to tailor experiences for different stakeholders. A good majority of B2B buyers will be willing to pay more for a great experience while making a purchase, making this a crucial factor for companies in the manufacturing industry to consider.

Request a free brochure to learn more about our solutions and how we help our clients tackle key business challenges.

Leverage consumer insights

Sales managers in the manufacturing industry must leverage appropriate customer relationship management tools. This will help them prevent losing valuable customers to competitors. Modern CRM systems have the ability to track which content has been sent to a contact, and when coupled with a sales Enablement platform, can track which parts of this content have been read and which works best for certain sectors. When used together, CRM and sales Enablement can help marketers and the sales team to analyze and understand how best to influence prospects.

How can you accelerate your company towards more strategic initiatives in the manufacturing industry? Get in touch with an expert to find out.

Manufacturing industry in Europe

Competitive Landscape Analysis of the Manufacturing Industry in Europe – Competitive Intelligence Engagement

Overview of the Manufacturing Industry in Europe

The manufacturing industry in Europe is presently undergoing a transformational phase. Leading players in the manufacturing industry in Europe are facing challenges such as evolving regulations, staff shortage issues, data protection threats, and falling demand. Owing to such challenges, European manufacturers are in need to develop new strategies and invest in technology to gain a stronger foothold.

The hyper-competitive and dynamic nature of the European manufacturing market also demands companies to stay updated on the changing trends and consumer behavior. Additionally, keeping a constant watch on competitors’ key strategies and business processes is becoming quintessential to survival.

Our experts can help you to gather comprehensive insights into your competitors and their business strategies. Request a FREE proposal today!

Business Challenge

The client is a heavy equipment manufacturing company in Europe. The company has 2 manufacturing facilities, 11 warehouses, and over 33 distributors in Europe.

Our client, a manufacturing company, faced immense competition from local players in Europe. Also, the company lacked skilled labor and investment in cybersecurity. In addition, evolving regulations in the manufacturing industry in Europe further made it difficult for the client to comply with manufacturing standards. Due to these challenges, they were losing their market share to their competitors.

To understand how they could improve their market position and perform better than their rivals, they approached the experts at Infiniti Research to leverage their expertise in offering competitive intelligence solution.

Major challenges faced by the client were:

1Manufacturing industry in Europe challenge #1: Skill shortages

With the baby boomer generation reaching retirement age, companies in the manufacturing industry in Europe faced labor shortage challenges. The client also struggled to find and retain top talent. However, they noted that their competitors were implementing automation to handle the labor shortage challenge. By leveraging our competitive intelligence solution, the client wanted to study in-detail the approach undertaken by their competitors to tackle this challenge.

Manufacturing industry in Europe challenge #2: Security threats

As cyber threats were increasing in the manufacturing industry in Europe, the client realized that the company’s lack of investment in cybersecurity could turn out to be a major challenge. As such, they wanted to identify all the security threats facing companies in the manufacturing industry in Europe. Also, they wanted to understand risk management measures adopted by the top manufacturing companies in Europe.

Manufacturing industry in Europe challenge #3: Global competition

The client faced challenges in sustaining a leading edge in the market because new products from emerging markets such as the US and Canada were increasingly being imported to Europe. The client, therefore, wanted to identify areas where they lacked compared to their competitors.

Manufacturing industry in Europe challenge #4: Automation and Innovation

Although automation and new technological innovations opened up new opportunities for companies in the manufacturing industry in Europe, they also brought along new sets of challenges. The challenges involved the cost of initial set-up and recruiting skilled workforce to manage the implementation of robots and AI platforms. The client, with our competitive intelligence solution, wanted to understand how other companies in the manufacturing industry in Europe handled such challenges and gained a leading edge in the marketplace.

To get products to market, companies in the manufacturing industry in Europe will need to adhere to extremely tight and stressful timelines. We can help you stay competitive while being cost-effective. Contact us today!

Solutions Offered

2As a part of the competitive intelligence engagement, the experts at Infiniti Research gathered comprehensive insights about the client’s key competitors. The factors such as competitors’ service offerings, risk mitigation approaches, and business strategies were taken into consideration during the analysis.

By leveraging Infiniti’s expertise in offering market scanning and monitoring analysis, the experts helped the client to review macro and micro-economic environment, identify security threats, and understand evolving regulations in the manufacturing industry in Europe.

By conducting a detailed market opportunity analysis engagement, we helped the client to assess markets’ readiness for new offerings, including new technologies and automation processes. With our help, the client was able to understand how automation will transform the industry landscape in the years to come and identify competitors who were leveraging similar technologies and processes.

The experts also conducted a risk assessment study to analyze the security threats facing companies in the manufacturing industry in Europe. The identification of the risks in advance helped the client to take cybersecurity measures to protect data and information.

Lastly, by conducting a competitive benchmarking study, our experts helped the client to understand the strengths and weaknesses of their major competitors. Also, this phase of the engagement helped the client to enhance efficiency in areas where they lacked compared to their competitors.

Results Obtained

Based on our insights, the client gained comprehensive insights into their competitors and developed a detailed understanding of the attractiveness of market opportunities for their product and service offerings. Moreover, they were able to understand strategies undertaken by their key competitors to manage labor shortage challenges, data protection threats, and global competition.

This further helped them to improve business efficiency and deal with the challenges in the manufacturing industry in Europe. They were also able to strengthen their position in the manufacturing industry in Europe and enhance market share by 19%.

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