Category Archives: Industrial Marketing

How to influence the buying behaviour of a consumer in 2020

If you want to get people to buy your products, you need to understand how consumers make purchasing decisions. Some 87% of buying decisions begin with research conducted online. In order to continue attracting your target audience, you need to keep up with the wants and needs of customers.

This can be a real challenge if you don’t understand the factors that influence consumer purchasing decisions.

According to our understanding and expertise we have noted the 3 very influential factors that affect the consumers buying decisions.

1.  Product or service review:

Product reviewMany studies in recent years have confirmed what we already  know: People read reviews and decide what to buy based on them. Very few consumers are going to blind buy a product or service based on the content they’ve come across on your website. No matter how effective and well communicated your demonstration videos are customers will look at the review sections first and check what kind of rating your product has.

Well it’s a fact – consumers aren’t going to feel comfortable buying a product or service unless it has good reviews!

So start gathering reviews on your site. That said, don’t delete negative reviews. They actually help sales if there are only a few of them and they’re politely worded.

2.  Recommendations:

RecommendationEven though social media and the Internet rule, customers make purchase decisions using a combination of old media, new media, and conversations with friends and family. They may ask someone in person for a recommendation or ask online, via social media, online chat, or email. It’s one of the reasons why it’s so important to continue targeting existing customers.

If you have a website, incorporating a section or creating a landing page specifically for customer testimonials can give your leads an idea of what to expect when they partner with you.

3. Social media:

Social MediaHaving a social media presence is incredibly important because so many consumers will turn to social media as a way to do research. These influences are the reasons why people are easily enticed to follow trends. A brand with no social presence, or one that doesn’t regularly engage with the community is not going to make as good of an impression on consumers.

If a person sees that others are enjoying a specific product, he or she will have a subconscious desire to own one.

The effects of social media on consumer behaviour cannot be ignored by brands and businesses.

That’s all folks.

Interact, engage, and influence your new customers to become loyal customers.

If you have any doubts about how to enhance your business, gain more customers, and generate more revenue, do get in touch with us. We are just a phone call away.

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Outcome of an employee engagement study completed in the initial phase of lockdown

HR function becomes quite critical in case of emergency or unexpected situations like this COVID pandemic.

Employee Engagement Index
Employee Engagement

The study was conducted for understanding employee feedback regarding the HR function of their company was initiated in the early phase of lockdown and the client have shown their courage and firm decision to launch the survey even if the organization was undergoing a transition from normal to WFH situation and lockdown restrictions.

For them, the objective of the study was to understand the level of satisfaction of their employees with HR function of their organization and extended support provided during the lockdown period. To our surprise, 80% participation of the employees in the survey during this transition phase was quite encouraging. The overall satisfaction index was also close to the manufacturing industry benchmark which was quite appreciating.

Of the various key indicators, HR policies and procedures, Information sharing, and HR tools had shown higher satisfaction whereas areas for improvement were Implementation, L & D, and PMS. This shows that even if you are having good policies in place, these have to be implemented in a proper way and at the right time. Employees need to be kept engaged, motivated during a changing working environment.

Employees should be able to find their career path growing along with the company and their efforts should be recognized. Employees look for transparency in their assessment and to participate in training for technical skill enhancement.

They would prefer to work remotely but not in silos!!!

They look forward to retain the connection with their teammates/ senior management through regular virtual meetings and clear communication. Team building activities, recreational activities should be conducted to boost morale and take care of the emotional strength of the employees.

According to them, HR should understand the pulse of the people and act accordingly. Compensation and increments should be designed based on performance.

Constant feedback is the only way for continuous monitoring of employee performance, emotions, sentiments, and wellbeing. Online confidential surveys are the best way to keep communication ongoing and measuring pulse of people which would help organizations to take wiser strategic decisions and grow and in a way make it ready for tomorrow.

We conduct similar HR function related studies like employee wellness study, 360-degree feedback study, employer branding study, inter-departmental satisfaction study, etc.

Contact us if you would like to explore the dynamics of your employee mindset, we would be happy to help you.

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A Positive Work Culture Maintains Employee Engagement amid Uncertainty

Workforces and leaders returning to an office setting in the wake of COVID-19 are confronting significant concerns, such as the following:

  • What will social distancing look like in the office setting?
  • Will safe practices allow for effective in-person communication?
  • Can I balance working from home with work on-site?
  • As an organization, how will we respond to societal and cultural changes in the wake of the pandemic?
  • What accommodations will organizations make for high-risk team members or those with high-risk family members?

Such worries and fear can threaten the team member’s job satisfaction, productivity, and wellness—in the workplace and beyond.

Organizations should follow the 4C’s to deal with the current situation:

  • Communication – Prioritizing communication is integral while working from home. Regular conversations with team members go a long way in picking up early signs of anxiety and make more space for taking and giving feedback during this time.
  • Caution – Employees are experiencing a range of concerns about their wellbeing, how to cope if they fall ill, or simply how they will get work done if they are unable to travel to their workplace? Listen to them – listening to employees during distressing times is an important signal that the company cares.
  • Compassion – With personal and professional work lines blurring, employees are juggling new responsibilities, fears, and problems, and they need to hear their leaders that they understand, that they have the full support of their organization. Hence the role of a leader gets more critical.
  • Care – Introduce initiatives that are aimed at improving the wellbeing of employees – provide upskilling opportunities to employees via online courses and webinars, announce wellness initiatives focusing on the mental health and fitness of employees. Such initiatives build trust and resilience among the employees helping them meet the demands of the changing environment and make organizations future-ready.

As the pandemic resets major work trends, HR leaders need to rethink workforce and employee planning, management, performance, and experience strategies.

Team Work
Team Work

Companies will have even greater challenges in helping employees stay engaged when the workplace begins to move back to offices, which is already in progress.

The imperative for HR leaders is to evaluate the impact each trend on their organization’s operations and strategic goals, identify which require immediate action, and assess to what degree these trends change pre-COVID-19 strategic goals and plans.

We will help you make this happen! Contact us  to know further details

Market research trends that dominate in 2020

Market researchers are constantly looking for trends in other industries — but staying at the forefront of your own sector is just as important. With the industry continuing to grow, and data-driven decision-making taking on more cachet in every industry, there are great opportunities for forward-thinking market researchers.

This is obviously not an exhaustive list, but we think it’s a great starting point for thinking about investments in 2020 and beyond

Artificial Intelligence as a Service

Market Search India - Artificial Intelligence

For a long time, artificial intelligence (AI) has existed only in the realm of research institutions, corporations and governments. However, the rapid progress done on technologies like machine learning, relational databases, deep learning, and neural networks mean that AI is already a reality.

Improved Customer Experience to sustain brand loyalty

Customer experience to sustain brand loyalty2020 will be the year of the customer. We’re seeing a major shift in faith about what marketing actually is. It’s no longer about trying to convince people to buy from or work with your company. Instead, the priority has moved towards providing fantastic customer experiences that will keep people coming back for more.

Employee Commitment

If systematic and friendly service is the keystone of great customer experience, how do we ensure we are providing this? It is of course, is in your employees. Your employees are the human face of your brand, so concentrating on interactions between your employees and your customers should be a key part of your marketing strategy.

Visualization as an important featureVisualisation as an important feature

With an explosion of smart speakers and voice search in recent years, you’d be forgiven for thinking that “readable” content is more important than visuals and design these days. While advancements in voice search are certainly influencing the way that we’ll create content now and in the future, you shouldn’t neglect visual content either. Research has proven that people favor visual content to plain text. You just have to look at the growth of image-focused platforms Pinterest and Instagram to see the proof of this.

Personalization of surveysPersonalisation of surveys

Increased data collection and development in technology have already had a huge impact on the level of personalization that is possible and on what consumers expect from their interactions with brands. Today’s consumers are flooded with marketing messages from multiple channels to the point where they have started to tune them out. Traditional advertising is losing its effectiveness.80% of consumers said that they’d be more likely to do business with a brand that provides a personalized experience.

Intercept surveysInercept Surveys

These quick polls have long been carried out everywhere from shopping centers and cinemas to pubs, cafes and restaurants. These intercept surveys are short and satisfying to fill out, yet can yield useful customer insights which can inform and enrich branding strategy. Social media polling tools and real-time SMS data collection practices are expected to grow increasingly commonplace as more and more of our time online is spent socially — whether we’re scrolling through our Twitter feeds or watching videos on YouTube.

Many of these trends have been bubbling underneath the surface for the last couple of years. And are now ready to take center stage. Getting a handle on the key trends for market research will position you well to assist your brand with sensible consumer insight

That wraps up the main trends we feel are booming in the research industry in 2020.

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Industrial Marketing Is Not Consumer Marketing

President, MPC Consulting

My first job out of college was with the Hyster Lift Truck Company. I started out in the plant working in production control to learn the manufacturing business. I was promoted to a job in the new product development department, where I was able to see how the marketing and sales strategies worked.

It was a big shock to find out that the marketing and sales I learned in college was totally different from the marketing of lift trucks.

I always liked machinery, and over the years I was involved in manufacturing and marketing lift truck attachments, marine cranes, palletizer systems, material handling robots, conveyors, and other industrial products. It didn’t take me long to figure out that marketing these industrial products required a very different kind of marketing—industrial marketing.

Since local colleges did not teach industrial marketing, I had to learn it on my own by trial and error. Then I had to train every new person that was hired in sales or marketing, both in the technical side of the products and marketing of the product.

Understanding the difference between industrial and consumer marketing is very important for manufacturing companies, particularly those companies that manufacturer custom or highly engineered products. But there are very few places to go to learn the techniques.

Several years ago I tried to find out how many colleges taught industrial marketing. I found that out of 2,500 business schools, fewer than 30 schools taught industrial marketing or industrial sales classes.

Let me explain some of the differences between consumer marketing and industrial marketing, along with why this is a problem that needs a solution:

  • Product complexity. First and foremost, most industrial products are usually more complicated than consumer products and, as a result, require significant technical knowledge to sell. Industrial and technical products range from off-the-shelf bearings to custom-engineered machines of incredible complexity. The more custom the product, the more custom the marketing strategy.
  • Industrial buyers. Consumer marketing presupposes powerful sellers and passive, inexpert buyers who can be influenced to purchase by a variety of advertising techniques. In contrast, industrial markets consist of very knowledgeable buyers (and often buyer teams) who analyze products and purchases in terms of user benefits often measured in dollars or as return on investment. In the case of capital equipment, the sales people do not get to talk to the final decision makers—the board of directors.
  • Bids and quotations. Consumers either buy or don’t buy from listed prices. On the other hand, industrial products are often sold by request for quotes (RFQs) that may require a quotation with elaborate specifications to define the product. Specifications can be hundreds of pages long and can specify a machine right down to the type of fasteners and wire colors.
  • Advertising and promotion. It is relatively straightforward to develop a newspaper ad for impulsive shoe buyers, but it is very difficult to even identify the buying influences of dragline machines or material-handling robots. Inquiries produced by industrial advertising are only the beginning of a long, expensive selling process, sometimes lasting years before the sale occurs.
  • Market information. There is a lot of database information available on consumer products and an enormous amount of consumer demographic information that can identify the customer profile and market segment. However, information on industrial market niches is very difficult to acquire, is generally qualitative, and requires considerable industrial experience to gather. For example, if you are a manufacturer of a machine that stacks 50-lb. sacks of cheese whey, you will have to identify the market niche to succeed. The food industry has 23,000 plants in the U.S., but the buyers who would be interested in your machine are a niche of a niche, of a niche, of a niche like this:

Food industry – 23,000 plants
Cheese natural and processed – 712 plants
Processed cheese – 332 plants
Dry condensed cheese – 191 plants
Dry condensed cheese and whey – 85 plants

When you analyze the niche further to define the line speeds, size of bags, number of shifts, number of employees, you will find that there are 20 to 30 prospective buyers that could buy your equipment. How you find and sell to these buyers is completely different then finding and selling cell phones to young adults using television advertising.

Finding and defining the buyers in industrial market niches is perhaps the most difficult part of industrial marketing. For example, palletizing machines are sold in 20 different industries and hundreds of market niches. The buyers could be the owners of a small food processing plant or multiple buyers in a multinational corporation.

  • Industrial Market Research. Consumer market research methods generally do not work for industrial products, because the industrial samples are small and the buyers are not a homogeneous group that can be considered a valid sample. Because of these two problems, statistical techniques for projecting the sample cannot be used as representative of a larger market. Answers to questions on market share and market size must be found using qualitative techniques that requires field research and personal interviewing. Suffice it to say, this can only be done by an interviewer who has a strong background in technical and industrial products and knows how to do an unstructured interview.
  • Product range. Perhaps the most important factor that separates consumer from industrial marketing is what I call the product range. The chart below shows that industrial products range from simple components that are standard and off-the-shelf to engineered systems with custom engineered machines.

As you move from left to right in the product range, marketing strategies change drastically with the type of product, length of the sales cycle, product size, and the number of decision makers.

For example, the selling, promotion, and pricing strategies that are used to sell low price products, say standard hydraulic motors, to known accounts, are fairly straightforward, and consumer marketing techniques might work.

As the industrial products become more complex with higher prices and longer sales cycles, the selling, sales channel, advertising, pricing, and product development strategies become more complex and more specific to the situation. Capital equipment used on production lines is usually very large, designed to the customer’s specs, very complex, has high unit prices must be justified in terms of ROI and approved by the board of directors.

For example, selling a complete production line to a multinational company begins when a sales engineering department answers a request for quote that includes hundreds of pages of specifications. The technical sales is usually handled by the factory’s major account sales department and may require selling many decision makers on the buying team, such as plant manager, plant engineer, purchasing manager, and division manager in different geographic locations. If the company gets the sales contract, they must have a service department that can install the products, write customized operation manuals, and take care of the production line with 24/7 service.

The point is that the organization and strategies used for marketing and sales of a standard off-the-shelf product will not work for the marketing and sales of a large, complex industrial system.

The Knowledge Gap

“Most students who graduate from university marketing courses are not ready to go to work in industrial companies,” says Jack McNally, dealer sales manager of a midsize casting company. “The methods for marketing industrial products are substantially different from consumer marketing. Our industry has to invest considerable time in on-the-job training to teach these people industrial sales and marketing. It would be helpful if college professors went out into the manufacturing sectors to see for themselves how industrial products are bought and sold.”

Mr. McNally’s experience is much like my own experience training salespeople to sell industrial equipment. For years we had to take technical people who were very familiar with the equipment (like engineers and technicians) and try to make them salespeople. This only worked part of the time, and the on-the-job training was very extensive because these people had never had any education or training in industrial sales or marketing.

I finally took the time in 1993 to write a basic primer, The Manufacturers Guide to Business Marketing, on industrial marketing that could be used as a training program for engineers and sales people. This helped people learn the basic strategies as they were also learning the field sales techniques and helped them understand the basics of the company’s marketing plan.

American small and midsize manufacturers are floating on an ocean of uncertainty caused by the invasion of Chinese products and the continuous outsourcing of product lines by multinational companies. Most of them need to diversify and find new customers and markets to grow. To accomplish this, they must first understand and define the market niches in terms of specific users and then to choose the strategies that will achieve their sales and profit forecast.

The product development, pricing sales, sales channel, and promotion strategies to find new customers and markets are very different from consumer marketing.


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