The manufacturing industry can be unpredictable. One minute you might be entering into a lucrative contract with a great new customer; the next, that customer could be going out of business — putting your own company at risk in the process.
The best way to guard against this risk is to diversify your business and expand into new markets. Here are three reasons why you should consider it in your shop:Read More »
When it comes to branding, the major players probably come to mind first — Amazon, Coca-Cola®, Disney, Gucci, and so on. The strength of their name recognition is immense. When these names come up, you immediately see their logo, and even if the logo doesn’t bully its way into your brain, you at least know what they’re selling. It doesn’t matter whether you consume their products or not; you know them. They’ve seared your mind with a branding iron. (See what we did there?)
Many manufacturing and industrial companies, however, don't think that they need to worry about branding. They prefer to rely on word of mouth and referrals to attract new business, and they feel that branding isn't important in their space.Read More »
There’s a ton of marketing and sales advice out there on how to grow your business, increase yourbottom line, and make your company stand out from the crowd. Keeping up-to-date on these expert tips and new industrial marketing trends is key to remaining relevant in today’s ever-changing landscape.
But even the most knowledgeable, well-versed companies make critical mistakes that can cost them new customers. Below are four of the most common B2B marketing mistakes and some tips on how to best avoid them.Read More »
Companies dealing with sluggish economies or saturated domestic markets often look to international expansion to manage risk. Consider this though: by expanding internationally, a company simultaneously mitigates and creates risk. There is inherent risk in expansion, particularly internationally; even mammoth retailers like Target have failed spectacularly.
Before expanding, a company must plan carefully, understand the market, staff carefully, and accept that the venture may still fail.
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Over the past few years, there’s been increasing interest in bringing U.S. manufacturing back to American shores, or “reshoring.” But “nearshoring,” or moving operations to nearby countries, rather than very far away, is becoming increasingly popular as a more economical, practical alternative to offshoring.
It’s important to have a solid understanding of both concepts when deciding on the best strategy for your company. Below, we’ll take a deeper look at these two options and compare their benefits and drawbacks.
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The American manufacturing industry is on the rise, with businesses expanding and hiring activity picking up. Now, shop owners must do all they can to manage, and maximize, their growth.
CMTC suggested four investments manufacturers should consider when expanding their businesses. According to CMTC, two of the most important investments are equipment and warehousing:Read More »
Businesses are transitioning to LED lighting in the 5.6 million commercial buildings in the United States. And, in many regions, the addition of solar solutions for energy independence is also underway.Read More »
While electric vehicles (EVs) account for less than 1% of all vehicles sold in the United States today, two new forecasts show that this number will skyrocket in the years ahead. The shift will have a profound impact on automakers and their suppliers.Read More »
Manufacturing is one of the main contributors to economic growth in the U.S. and Americans know its value. In fact, 83% of Americans believe manufacturing is important to America’s prosperity. Unfortunately, young professionals are currently less interested in the manufacturing industry.Read More »