For every $1 spent in manufacturing, the economy receives an additional boost of $1.89

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For every $1.00 spent in manufacturing, another $1.89 is added to the economy. That is the highest multiplier effect of any economic sector. In addition, for every one worker in manufacturing, there are another four employees hired elsewhere. (Source: NAM calculations using IMPLAN)

With that said, there is new research suggesting that manufacturing’s impacts on the economy are even larger than that if we take into consideration the entire manufacturing value chain plus manufacturing for other industries’ supply chains. That approach estimates that manufacturing could account for one-third of GDP and employment. Along those lines, it also estimated the total multiplier effect for manufacturing to be $3.60 for every $1.00 of value-added output, with one manufacturing employee generating another 3.4 workers elsewhere. (Source: Manufacturers Alliance for Productivity and Innovation)

Click here for more detail an additional manufacturing facts from NAM.

30 Must-know B2B Sales Prospecting Statistics

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From MaketingProfs.com --

How do B2B buyers like to be contacted by salespeople? Which types of vendor content tend to capture attention best? When should B2B salespeople engage with potential buyers?

To find out, the RAIN Group surveyed 488 B2B buyers and 489 sellers. Respondents were polled on their outreach, communication, and content preferences.

B2B Buyers tend to want to be engaged by vendors early on in the evaluation process, the researchers found.

Buyers also value content based on original research and/or content that provides insights on business problems, and they prefer email outreach to phone outreach.

Check out the infographic, below, for more insights from the report:

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Distribution Done Right: How Co-Op Agencies Can Make Your Co-Op Funds Usable

Co op marketing funds have played a significant role in the marketing industry since the 1980s. Yet, every year, between $14 billion and $35 billion in manufacturer co-op marketing funds go unused.

Cooperative marketing offers a number of benefits including increased brand awareness locally and nationwide. So why aren't distributors using their co-op marketing funds as often as they used to?

Why aren't businesses taking advantage of their co-op marketing funds?

Compared to the cooperative marketing of years past, today's co-op marketing is lacking in terms of affiliate adoption. For some retailers, certain campaigns may seem too complicated or overwhelming to handle.

This leaves manufacturers with a lot of leftover co-op money because they aren't able to find distributors willing to assist with advertising. Unfortunately, rather than attempting to fix their programs, some manufacturers will attempt to do their own MRO marketing, which may or may not work out so well.

This is because not everyone in the MRO industry has professional marketing experience and those that do may not have enough time in order to properly review their marketing campaigns. 

What, then, is the solution to today's co op marketing programs? MRO marketing services may have the answer.

How can a co-op marketing agency help my distributorship?
When your business chooses to outsource MRO marketing services such as a co-op marketing agency, you're putting your cooperative marketing program into the hands of professionals who don't have to worry about running an MRO industry at the same time.

A co-op agency is able to create a cooperative marketing program that's well-organized, outlined, and understandable so retailers are more likely to agree to an affiliate agreement. This opens the door to multiple retailers and improves your chances to increase brand awareness.

Additionally, when you work with industrial marketing services, you can expect your business' digital marketing to improve alongside your cooperative marketing. This is because marketing agencies are experienced in what they do and are able to review your marketing campaigns for optimal success.

Co-op marketing funds often go unused by manufacturers and businesses, not because they're not useful but because manufacturers need assistance to build an organized cooperative marketing program. To learn more about how MRO marketing services can help your business, contact Rivet MRO today.

3 Reasons Why Outsourcing An Industrial Marketing Consultant Can Boost Profits

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It's always on a business's agenda to increase brand awareness and accelerate growth. After all, you want to market your industrial MRO distributorship with new strategies to beat out the competition and increase profits.

One way to improve your business's marketing strategies is to hire someone new. But hiring takes time and money you may not have. That being said, here are three reasons why outsourcing industrial consultancy services can help you reap marketing benefits a lot faster.

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  1. You're working with people with industry experience. It can be challenging to market your business yourself when you don't have experience leading effective marketing campaigns. But when you work with industrial consultancy services, you can be sure that not only are the people you're working with experienced but they also understand the ins-and-outs of the industrial/MRO industry itself.
  2. You don't need to train anyone. It may seem like a good idea to hire someone with marketing experience, but then you would need to take the time to find someone with experience both in marketing and MRO. After you've found that person, you would then need to take the time to train them before feeling confident that they know what they're doing. When you outsource industrial consultancy services for MRO marketing, you don't have to worry about searching for the perfect employee or training them. You get the experienced marketing strategies immediately.
  3. You don't have to worry about creating effective marketing content. Approximately 62% of marketers say they use Facebook as their top choice for social media marketing. With social media, you not only need to post relevant content to your page but also interact with the people who comment on your posts. When you outsource an MRO marketing and consulting service, you don't have to worry about whether you've said the right thing in a company response. You have experienced professionals on your side to help you make the right posts at the right time

When you outsource industrial marketing services to help you with your business's marketing, you can be sure your business is in good hands. For more information on MRO marketing services and how they can help your company, contact Rivet MRO today.
 

More than 70% of Industrial Distributors Have No Plans to Sell Through Amazon

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According to a recent MDM survey of nearly 300 industrial distributors, Amazon remains both a substantial threat and an opportunity.

Key survey takeaways include:

  • More than two-thirds of distributors surveyed view Amazon as a threat.
  • More than a quarter of distributors polled said they sell, or are willing to sell, all the products they carry on Amazon.
  • Two-thirds of distributors in the survey selling on Amazon sell commodity-type products and 30 percent use the platform to sell excess and obsolete inventory.
  • You must understand customer expectations regarding how they want to shop and buy; then align your capabilities with those expectations.

Emails with some form of “THANK YOU” in the subject line enjoy higher open rates than those that do not express gratitude by up to 69%

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Email subject lines that express gratitude tend to outperform email subject lines that do not, according to a recent Marketing Profs report.

The report was based on 2017 data from email campaigns sent by Cheetah Digital clients in a wide range of verticals.

The researchers found email subject lines that included terms such as "with heartfelt thanks" and "thank you!" had average unique open and unique click rates that were 69% and 38% higher, respectively, than subject lines which did not express gratitude.

The higher engagement rates for subject lines that expressed gratitude applied to three campaign types: survey emails, post-purchase emails, and segmented buyer promotional emails.

For more details, click here to see the full Marketing Profs article.

Reshored US Jobs Have Grown 2,800% Since 2010

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According to a recent article on IndustryWeek.com:

Reshoring and foreign job announcements (FDI) surged in 2017 to over 170,000 U.S. manufacturing jobs. This is strong evidence that work can and will be successfully brought back—and is especially relevant in a time of intense debate over tariffs and the trade deficit.

All told, job announcements were up 52% from 2016, and a whopping 2,800% from 2010. Announcements lead to hiring typically within 6 to 24 months. Click on the link above for more detail.