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Manufacturing is evolving, and change has accelerated in the last few years. From supply chain disruptions and material shortages to the ongoing impact of inflation and COVID-19, “business as usual” is a thing of the past. But these shifts are forcing manufacturers to make long overdue improvements to their process and revealing promising new opportunities.
To help you stay ahead of the competition, here are three questions you should ask if you want to get more from your manufacturing sales, and why a digital transformation with inriver could give you the solution you’re looking for.
Are you ready for higher buyer expectations?
The days of e-commerce being solely B2C terrain are over. B2B buyers are spending more online than ever before. Before the pandemic, eMarketer found only 9% of B2B product sales in the US took place online. Forrester predicts that will rise to 17% in 2023, reaching a total of $1.8 trillion.
That’s not all. B2B buyers now show the same habits and expectations as B2C shoppers. A Salesforce study revealed the average B2B buyer uses 9 different channels when interacting with a single company. Buyers also expect a personalized experience, including tailored recommendations, yet according to McKinsey, 66% prefer remote interactions or digital self-service.
The answer? Software that supports a robust multichannel strategy for every channel.
Can you meet the growing demands for sustainability data?
Demands for sustainability get louder every year. The issue is now a permanent fixture on the manufacturing agenda, with change now being pushed by legislators through new regulations like the European Union’s Digital Product Passport (DPP), which could soon be replicated in the US and impacts companies selling in the EU.
And there’s more. Consumers are becoming even more environmentally conscious, with Gen Z being the greenest generation yet. These future B2B buyers will expect full sustainable transparency with every purchase and only spend with those companies that have a handle on the demands of a more circular economy.
The answer? Software that ensures full sustainable transparency for every single product.
Is your customer service leaving money on the table?
In a saturated marketplace, manufacturers can’t compete on products alone. Elevating customer service by considering the full customer lifespan can be a great way to tap into new profit streams. Manufacturers who support customers beyond the sale will see brand loyalty and repeat purchases increase.
But it’s more than repeat purchases. By expanding their product ecosystems, manufacturers tap into the after-sales market by helping buyers find related accessories, parts, and add-ons. According to Deloitte, these up-sell and cross-sell opportunities, coupled with more intelligent maintenance processes, can increase overall revenue by 50%.
The answer? Software that opens the full potential of after-sales revenue.
A digital transformation with inriver is your answer
There’s a common thread connecting these drivers for change: product information. It’s more important than ever to have a handle on your information, from material sourcing to end-of-life recycling and every stage of the product journey in between. If you don’t, put simply, you’ll be left behind.
A digital transformation with inriver can ensure you stay ahead of the competition.
Inriver provides the complete software platform for forward-thinking manufacturers, giving you a range of software solutions designed to futureproof your business and transform your product information into a profit-maker at every touchpoint.
Only with inriver can you:
- Deliver high-value, personalized customer experiences
- Establish a clear product/service ecosystem
- Provide sustainable transparency across the product value chain
- Drive revenue throughout the entire customer lifecycle
Want to know more about the importance of digital transformation? Read our ebook on the key trends shaping the future of digital manufacturing sales, or speak to an inriver expert to see how far a digital transformation with inriver can take you.
