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How Will Manufacturing Business Models Change in 2021?

Manufacturing segment is reeling from an economic impact of global pandemic in 2020. The effects of it are still strong, but that does not mean business owners should not proactively work on adapting their business model. In the wake of the pandemic, both customer and employee priorities have changed. Safety of interactions is now demanded, and many professionals prefer to work from home. Approach to the market needs to be revised and optimized through new product and service offering. Streamlining is important and great benefits can be achieved through integrations of sales and marketing.

Key Takeaways:

  • While most firms have recovered from the initial economic shock, they are learning to operate in an uncertain environment.
  • Participants indicated that digital enablement is their top commercial priority, but less than one-fifth saw their organizations as effectively implementing digital tools and sales channels.
  • 80% of respondents feel that ‘customer persuasion’ now spans marketing, sales and service, and that these functions can no longer operate within silos.

“Recently, over 60 executives were interviewed as part of a larger research study on industry trends conducted by Alexander Group.”

Read more: https://www.industryweek.com/leadership/strategic-planning-execution/article/21145516/how-will-manufacturing-business-models-change-in-2021

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