Manufacturers are no strangers to the ramifications of the new data economy and how it has changed consumer expectations. Now, more than ever, consumers expect an exceptional experience, whether shopping online or in-store. Online research has become commonplace, making it critical for product information to be displayed accurately across both the physical and digital shelves alike. This has resulted in retailers pressuring manufacturers to meet specific data requirements to get products to market faster. And unfortunately, each retailer, data pool and marketplace has different conditions.Read More
From apparel to appliances, and from food to furniture, electronics, machinery and everything in between, manufacturing in the U.S. and around the world continues to grow. Digital transformation and a desire to reduce supply chain complexity have resulted in many manufacturers developing capabilities for reaching customers directly. It could be the reason why by 2020, 60% of manufacturers will rely on digital platforms that will support as much as 30% of their overall revenue.Read More
“The first step in exceeding your customer's expectations is to know those expectations.”
Perhaps you’ve heard this quote by marketing guru Roy H. Williams. Even if you haven’t, you will most likely agree with it. Knowing who your customers are and what they want makes perfect business sense, since customer feedback can drive product direction, pave the way for better customer experiences and help identify new business channels and partners.
But how do you get to know your customer if you sell exclusively through distributors or retailers? Are manufacturers disadvantaged by being disconnected from their consumers? How do they overcome this?Read More
Whether their customers are individuals or global enterprises, all industries now face a range of challenges and opportunities presented by a ‘digital-first’ world. As a consequence, traditional companies are looking for ways of complementing and differentiating their product-based business models with value-based services. A recent Frost & Sullivan estimation foresees that 70 percent of Fortune 500 companies are expected to develop new business models that provide product-as-a-service.Read More