Engineering Marketing – Changing Strategy in Challenging Times

The current economic climate is putting pressure on engineering and manufacturing firms from multiple directions, forcing them to rethink their existing business models and look for new ways in increase revenue and margin.

  • International competition – Globalisation means that UK based companies are now increasingly competing against engineers from across the globe, who often have a much lower cost base and can compete aggressively on price.
  • Global collaboration – Digital platforms and collaboration tools have made it easier than ever for people to source and work with engineering firms anywhere in the world, further increasing the competition.
  • Shifting demands – Automated manufacturing methods and rapid prototyping technologies are changing customer demands and impacting the sales cycle

And as if the landscape wasn’t already difficult enough, Brexit is forcing many companies to put longer-term plans on hold, and pull back necessary investment until the economy is on surer footing.

As a result, companies looking for new ways to differentiate from their competitors to help attract new business. Some companies are also seeking to resolve these issues but taking back control of their business relationships, investing more in digital marketing to reach new B2B clients, while also establishing B2C offerings.

Engineering Marketing Strategy

Engineering as an industry hasn’t traditionally led the field in digital marketing, and has been late to adopt some of the technologies that have revolutionised other industries in recent years.

There are now a plethora of ways that companies can more precisely target their customers, and build loyalty and trust with potential clients. This includes:

  • Content marketing – Writing articles is a great way to educate customers about your product or service, calling out why you are better than your competitors and proactively addressing any questions they might have.
  • Social media – Platforms like Facebook and Twitter offer a way to interact with your potential customers in a way that would have been inconceivable just a few years ago. You can reply directly to customer queries and share updates and news relating to your business.
  • Email marketing – Once you have built up a list of email subscribers, you can use this platform to keep people informed of new deals or promotions and hopefully generate some repeat business.
  • Third party reviews – Review sites like Tripadvisor are well known, but review sites can have a powerful impact for virtually any business. This is particularly true when you integrate third party reviews into your own website, providing social validation to people who are thinking of making a purchase.  

All of these elements can be used in combination to work as a customised engineering marketing strategy for your business.

Making the Change

At AsOne we embraced the digital revolution from day one, helping entire industries understand what the internet and digital marketing strategies will mean to them. And we’ve always viewed engineering marketing as just one part of a much broader digital business development strategy that will help to drive your company forward.

Did you enjoy this post? Why not read our previous blog posts on Industrial Marketing and Manufacturing Marketing Strategy.

 

Next Post »