Nov 6, 2020 | Manufacturing SEO
by SEO Expert, Sandy Rowley.
Marketing Plan For Manufacturing Company: 4 Steps To Develop A Marketing Plan For Your Company
Developing a marketing plan for a manufacturing company is crucial for success in the B2B market. The ‘marketing plan’ is a sheet of paper that clearly lays out a marketing strategy for your business in order to attract customers. Let’s start from the basics: Manufacturing companies form partnerships with other businesses that place orders – usually for large amounts of products. How do you know where to find customers ready to place huge orders with your company? Follow the 4-step process we’ve laid out below to know how to devise a marketing plan for your company.
The key to a successful manufacturing company marketing plan is to include all possible marketing avenues: Paid marketing and free marketing. The marketing plan for manufacturing company PDF has to include objectives such as sales targets you’re trying to reach and the budget – i.e. how much you’re willing to spend to get there. Instead of focusing all your efforts on one marketing strategy, you should employ a mix of different marketing strategies that will give you an advantage over your competitors.
Step 1) Develop An Edge
The first step is to become a thought leader in your industry by employing branding strategies that give you an edge over your competitors. While this method is free, you’ll have to put a lot of effort to stand out and highlight the differences between you and other manufacturing companies.
- When a customer is looking to place an order with your company, they are directly comparing you to dozens of other manufacturers. How do you stand out? One word: Branding.
In order for customers to view your company as superior, you have to present yourself as a leader in your manufacturing industry. Start by developing products that stand out and/or offering better deals on prices. The key here is to give an advantage that other companies wouldn’t and make concessions which make it more profitable to deal with your company than competitors. This is your brand.
Organize events in your industry that give you a platform to promote your products. Once the word gets out, you will become recognizable in your industry and get customers through word of mouth.
Step 2) Set Clear Goals
As part of your marketing plan for manufacturing company sample, you have to set clear objectives about what you’re trying to achieve in the short term and the long term. These objectives can be revised based on performance, but it important to set them early on. For instance, you should have a 1-month target and a 12-month target.
- The objectives should be marked down as sales or total figures. Example: You want to do $10,000/month in sales within 3 months or 10 new customers in 2 months.
Step 3) Develop Sample Marketing Plan For Manufacturing Company
To develop a marketing plan, the strategy has to be based around your marketing objectives. For instance, at the start you may want to spend more on paid advertising (Google AdWords, Instagram, YouTube Ads) that will give you exposure in front of new customers and later you may want to invest in free advertising such as SEO that will drive new customers to your business over the course of many years – all while developing your brand.
Utilize all marketing avenues at your disposal. As a manufacturing company your target market is the B2B market – make sure you have a presence on all large B2B trade websites like Alibaba where customers from all over the world are looking to buy directly from manufacturers.
Step 4) Revise Performance
The marketing plan is never set in stone – you can expect your marketing plan to change significantly within the first month. Always be prepared for revisions in the long term. If the marketing campaigns turn out successful – double-down on them and spend more on those campaigns while cutting out low performers.
Don’t get attached to marketing campaigns: If they don’t end up performing the way you expect them, cut them out of the marketing plan. The key here is to remain objective and focus on the performance metrics that give you a clear overview of where you get the best ROI. Once you’ve accumulated the data based on a number of different marketing techniques, you can start making revisions to the marketing plan.
Speak with Sandy Rowley, leading Manufacturing SEO Expert 775-870-0488. Call or text.
Aug 17, 2020 | Manufacturing SEO
Developing a marketing plan for a manufacturing company is crucial for success in the B2B market. The ‘marketing plan’ is a sheet of paper that clearly lays out a marketing strategy for your business in order to attract customers. Let’s start from the basics: Manufacturing companies form partnerships with other businesses that place orders – usually for large amounts of products. How do you know where to find customers ready to place huge orders with your company? Follow the 4-step process we’ve laid out below to know how to devise a marketing plan for your company.
The key to a successful manufacturing company marketing plan is to include all possible marketing avenues: Paid marketing and free marketing. The marketing plan for manufacturing company PDF has to include objectives such as sales targets you’re trying to reach and the budget – i.e. how much you’re willing to spend to get there. Instead of focusing all your efforts on one marketing strategy, you should employ a mix of different marketing strategies that will give you an advantage over your competitors.
Step 1) Develop An Edge
The first step is to become a thought leader in your industry by employing branding strategies that give you an edge over your competitors. While this method is free, you’ll have to put a lot of effort to stand out and highlight the differences between you and other manufacturing companies.
- When a customer is looking to place an order with your company, they are directly comparing you to dozens of other manufacturers. How do you stand out? One word: Branding.
In order for customers to view your company as superior, you have to present yourself as a leader in your manufacturing industry. Start by developing products that stand out and/or offering better deals on prices. The key here is to give an advantage that other companies wouldn’t and make concessions which make it more profitable to deal with your company than competitors. This is your brand.
Organize events in your industry that give you a platform to promote your products. Once the word gets out, you will become recognizable in your industry and get customers through word of mouth.
Step 2) Set Clear Goals
As part of your marketing plan for manufacturing company sample, you have to set clear objectives about what you’re trying to achieve in the short term and the long term. These objectives can be revised based on performance, but it important to set them early on. For instance, you should have a 1-month target and a 12-month target.
- The objectives should be marked down as sales or total figures. Example: You want to do $10,000/month in sales within 3 months or 10 new customers in 2 months.
Step 3) Develop Sample Marketing Plan For Manufacturing Company
To develop a marketing plan, the strategy has to be based around your marketing objectives. For instance, at the start you may want to spend more on paid advertising (Google AdWords, Instagram, YouTube Ads) that will give you exposure in front of new customers and later you may want to invest in free advertising such as SEO that will drive new customers to your business over the course of many years – all while developing your brand.
Utilize all marketing avenues at your disposal. As a manufacturing company your target market is the B2B market – make sure you have a presence on all large B2B trade websites like Alibaba where customers from all over the world are looking to buy directly from manufacturers.
Step 4) Revise Performance
The marketing plan is never set in stone – you can expect your marketing plan to change significantly within the first month. Always be prepared for revisions in the long term. If the marketing campaigns turn out successful – double-down on them and spend more on those campaigns while cutting out low performers.
Don’t get attached to marketing campaigns: If they don’t end up performing the way you expect them, cut them out of the marketing plan. The key here is to remain objective and focus on the performance metrics that give you a clear overview of where you get the best ROI. Once you’ve accumulated the data based on a number of different marketing techniques, you can start making revisions to the marketing plan.
Jul 28, 2020 | Manufacturing SEO
The average business spends 5-10% of their annual profits on marketing (according to CMO Survey). In manufacturing, the average budget for marketing is 8% of the company’s annual profits. This guide will help you get a clear overview of how much you should plan to spend on your marketing budget and how to devise your profits accordingly.
The average amount varies significantly based on the size of the company and how established it is. We’ll have a look at how different companies perform based on the number of customers and total annual profits. The following figures represent average spending for manufacturing companies based on annual growth:
- Manufacturing companies that grew by 1-15% in the last year spent 8% of their annual profits on marketing expenses.
- Manufacturing companies that grew by 15-30% in the last year spent 20% of their annual profits on marketing expenses.
- Manufacturing companies that grew by 30-100+% (highest) in the last year spent an average of 50% of their annual profits on marketing expenses.
On average, the higher the growth % of the manufacturing company, the more it spends on advertising. This is partially because new start-up manufacturing companies spend more on advertising and experience higher growth.
Example: If an electronics manufacturer generates $700,000 in annual profits – on average they will spend $56,000/year (8%) on marketing or $4600/month. However, there is no guarantee that same company won’t spend $350,000/year on marketing – or roughly 50%. This all depends on the individual business’s objectives and what they’re trying to achieve.
How Much Should A Manufacturing Company Spend On Marketing?
Read below to find out how much you should spend based on your growth rate. To plan your marketing budget, think about what stage your manufacturing company is at. Is this a new start-up company or are you established and already have a steady supply of customers?
If you’re an early-stage company aka a “start-up” you should spend more on advertising because you’ll need to get your first customers through the door. If you’re established and have a steady supply of customers, you should consider upgrading your production capabilities and lowering your marketing expenses.
- New Manufacturing Companies
- Recommended Spend: 30-50%/year
Start-up companies should spend higher amounts on their marketing. This is usually in the 30-50% revenue range for newcomers. If you don’t have any customers yet and can’t predict what your profits are going to be like, start small-testing with budgets such as $1000-5000 and then gradually ramp-up your ad spend. Instead of risking it all on a large marketing campaign, you need to familiarize yourself with the market and adjust your budget according to the results.
Determine how much you should spend based on the product you’re selling. If you manufacture a unique product which is hard to come by, you could spend as little as an established company (10-20%). If your product is highly popular and easy to find, you should spend the maximum amount possible to stand out.
- Established Manufacturing Companies
- Recommended Spend: 10-20%/Year
Established companies should spend less than start-up companies because they have the momentum and they need little money to stay competitive. The advantage they have over start-ups is a consistent client base that keeps re-ordering from them. This means they only need few new clients to replace older clients and fulfill their manufacturing quota.
On average, an established manufacturing business should spend 10-20% of its yearly profits on marketing. This should be adjusted according to the competition level in your industry. If you’re in a very competitive industry you may want to go above 20%. If the competition is lower, you can reduce spending accordingly.
- Failing/Stagnant Manufacturing Companies
- Recommended Spend: 5-10% More Than Current Budget
If the manufacturing business is struggling with net-negative profits, you need to increase your current budget by at least 5-10%. The marketing budget might not be the only thing affecting your profits (consider product revisions), but if you’re in an aggressively competitive industry then marketing can have a serious effect on the success of your product.
Start by increasing the budget for a trial period of 6 months and see how it performs. If you’re seeing an increase in sales, consider bringing the budget down to the previous levels. If you’re satisfied with that progress, make a decision on whether you want to keep the budget increase.
Have more questions? Call, email or text Sandy, leading manufacturing SEO expert at 775-870-0488.
