Industrial buyers are now making educated decisions faster than ever with the help of the internet. Yes, the internet can be utilized for more than fantasy football and cat videos. The power of the internet has enabled buyers and engineers to cross reference a number products nationwide within a matter of minutes. A recent study found that 94% of Industrial buyers conduct online research before purchasing a B2B product. Industrial buyers now have the upper hand in the buying process because the Internet provides them with unlimited knowledge on a particular product. Surprisingly, many manufacturers have been slow to adopt modern website development and invest little time and money into their digital presence. Furthermore, these “late adopter” manufacturers are seeing dwindling leads from the once tried-and-true method of tradeshows.

Value in Engineering Cost Savings in Manufacturing” Lunch n Learn in March. Clark Neft, President of Barth Industries shared invaluable information on how manufacturers can save on costs and add value to client relationships. 

A key objective for manufacturers is lowering costs while raising profits. Barth Industries has taken major strides to accomplish both of these objectives in recent years. Neft spoke specifically to ways value engineering can add intrinsic value your business during his presentation.

I frequently hear this from manufacturing executives when discussing their challenges: “I don't need leads, we are a niche manufacturer and we know all of our potential buyers. My problem is that I need help closing more sales with this finite group of buyers.” Successfully penetrating a small group of buyers that have close relationships with your competitors can be a challenge. However, there is a simple way to leverage this problem that doesn't involve slashing prices. Manufacturers are now using lead management & sales intelligence strategies to convert these known buyers into clients.