Help Impact the Future of Manufacturing: 2020 Ohio Manufacturing Survey

Today we have a guest post from MAGNET (The Manufacturing and Growth Advocacy Network) organization that has a mission for helping manufacturers grow and compete in Northeast Ohio, especially the 98% of startup to medium-sized manufacturers that drive our economy. MAGNET rolls up its sleeves to provide hands-on support ranging from new product design to operations and brings education and business together to create tomorrow’s manufacturers.  MAGNET needs your help. By taking 20 minutes to complete its survey before the end of the year, you can help impact future legislative decisions, offerings and services, as well as use the survey results to help your own organization. At MAGNET, we’re inspired to drive regional impact by supporting small- to medium-sized manufacturing companies in areas of product design and development, process innovation and automation, operational excellence and engagement, and more.  But for us to supply you with the right services at MAGNET, it’s imperative that we gain insight into the current Northeast Ohio manufacturing landscape. That’s where the survey comes in. About the Ohio Manufacturing Survey This year’s survey is your opportunity to impact how key stakeholders across manufacturing make decisions for our industry’s future. By giving us 20 minutes of your time, you can: Impact how legislators and key stakeholders make future decisions Shape the offerings and services of manufacturing support organizations Use the results to benchmark how you compare to other Ohio manufacturers And as a thank you for your time and responses, you’ll get the following upon submission: Your choice of any one of 12 different business books FREE admission to one of our report rollout events—Cleveland, Akron, or Canton in February 2020 $5 to Harvest for Hunger donation made by our sponsors for every response The survey deadline is December 31, 2019. This survey is limited to businesses that produce physical goods, with production…read more >

How Can Manufacturers Get the Most Out of Their Marketing?

By Matt Sonnhalter, Vision Architect, Sonnhalter Being able to accurately show how well your efforts impacted a company’s bottom line is one of the biggest challenges marketing teams face every year. For years, the easiest indicator of a marketing team’s success was measured mostly in sales and lead generation. But with the rise of content marketing, influencer relations and social media in marketing plans, it’s sometimes difficult to accurately quantify exactly how all these tactics improve ROI. Regardless of where you stand on the value of these tactics, even the most stubborn skeptics will need to face the reality that content marketing, social media and other tactics for the digital age are here to stay. Unfortunately, most marketing budgets have yet to catch up with the financial and personnel resources necessary to successfully utilize these tactics. Many of these challenges and concerns were addressed in IEEE GlobalSpec’s “Trends in Industrial Marketing Survey,” which surveyed 326 marketing and sales professionals in the industrial sector on marketing trends within the engineering, technical, manufacturing and industrial communities. Here are some of the most interesting tidbits from the survey: Breakthroughs in marketing analytics have made it easier to calculate the ROI of a company’s marketing efforts. “Marketers are under steady pressure to demonstrate ROI for their marketing programs. The need to improve ROI is one of the top challenges industrial marketers face. To meet this challenge, marketers use leads as their number one measure of success. But generating high-quality leads for sales is also one of the top marketing challenges. This may sound like a vicious cycle, and some marketers would agree, but the point is that measurement matters. Other measures of success include customer acquisition and sales attributed to marketing campaigns. Marketing automation software, which can improve tracking and measurement capabilities, is used…read more >

Pricing Challenge: Actual Versus Plan

This post originally appeared on INSIGHT2PROFIT.com. Welcome back to INSIGHT2PROFIT’s 2019 Pricing Challenge! Each article covers a common pricing challenge faced by businesses and provide some tips to help improve your profitability.   Now that we’re about halfway through 2019, let’s talk about the plan you set for the year. How have you performed thus far relative to your plan? If your performance hasn’t matched your financial projections for this first part of the year, what happened?  Maybe you’ve looked at your financial reports, and you see that your customer or product mix isn’t what you were expecting, or that you have been impacted by tariffs, and your profitability has suffered because of it. That’s a start – having a rough idea of the shortfall – but you need to get to the root causes. Has a shift in your mix driven down margin rates? Are you falling short of plan due to a volume slowdown, or are pricing shortfalls eroding your revenue growth? How does that vary by market segment or by salesperson? Analyzing the gap down to the customer-SKU level can yield clear, actionable intelligence about your problem. Well-run businesses have a strategy, and the budget is the road map to execute it. Planning at the same level of granularity as your sales allows for a healthier understanding of what’s happening within your business, why, and how to act. By having a detailed budget, you are creating a source of accountability for your team and a path for success for your business. Accurate revenue planning and measurement is tough to do, but it’s one of our specialties. Every engagement includes strategy, a client-specific model, a detailed plan and road map to execute it, and measurement to achieve the set goals. All while leveraging our DRIVE technology platform. To learn more about how your company…read more >

Manufacturers: Why Customer Service Is So Important In Serving the Tradesman

By Matt Sonnhalter, Vision Architect, Sonnhalter We’ve talked much over the years about customer service and how important it is to resolve issues. And, we’ve also addressed the issue that customer service is everyone’s responsibility, from sales through tech support. Customer service is really all about your customers’ total experience. This is true in our relationships with distributors as well as contractors. Manufacturers need to be careful, especially when business is on the uptick and attention to detail may come in second to short-term sales increases. Don’t take your distributor and tradesman for granted. There’s always someone out there that can identify contractor’s needs and deliver—and it won’t necessarily be based on price or delivery—but on the total customer experience. This article in HVACR Business by Jim Baston stressed, once again, how important customer service is in the big picture. Jim’s article is focused on the HVACR service business, but his points can be transferred to the manufacturing sector as well. Jim breaks it down into five dimensions of service: Reliability: Your ability to dependably and accurately deliver as promised. Assurance: Your ability to convey trust and confidence. Tangibles: Your personal presentation and the condition of the physical facilities and equipment. Empathy: Your ability to demonstrate a high degree of caring and individual attention. Responsiveness: Your willingness to promptly and courteously respond to customers’ needs. As manufacturers, you need to understand your customers’ (distributors and contractors) needs. Remember that everyone in your company is in customer service. If you haven’t asked your customers what their needs are recently, maybe you should. Things change and their priorities might have too. Focus on what matters to them. If you like this post you may want read: Manufacturers: Are you keeping up with your customers expectations? Customer Service: What Are You Doing to Retain Customers?read more >

Making the Most of a Trade Show Visit

The Precision Machined Products Association has a growing membership of machine shops, technical members and others involved in the precision manufacturing sector. One of the more innovative ways they communicate with current and potential members is through a regular insert in the trade publication Production Machining. The insert is a win-win for both the PMPA and the magazine. PMPA gains an additional way to communicate to their membership, and Production Machining gets valuable content. A perfect example? This recent article on the upcoming IMTS show in Chicago. If you’re heading to this show, or any trade show in the near future, this is a great read. The International Manufacturing Technology Show (IMTS) 2018 is set to take over Chicago’s McCormick Place from Sept. 10-15. The pure numbers of the show are pretty staggering, with more than 115,000 people expected to attend from more than 110 countries and more than 2,000 exhibitors with 1.37 million square feet of exhibit space divided into 10 pavilions, four co-located shows and more than 60 conference sessions. So, like any big task, the secret to success at IMTS, or at any trade show, is to create a number of smaller goals and plan, plan, plan, all while leaving enough wiggle room for last-minute opportunities or challenges. Here are some basic guidelines for planning to make the most of any trade show visit. Pre-Show Book Early – Make sure to take advantage of any early bird specials for registration, not only to save money, but also so vendors have an idea of how many people are attending. It’s also best to book travel, transport and hotel as soon as possible. Stay in the Show Hotel – Sure, it may be more expensive, but it will be close to the show, probably have free transportation opportunities and offer lots of…read more >

Using the Gender Gap to Close the Skills Gap

As the focus on the skills gap has grown, so have efforts to draw women into these well-paying, career-path jobs. Along with technology and training advancements, so are the opportunities and accessibility to these previously “men only” careers. It’s taken root in elementary schools, where “Girls in STEM” efforts have seen expanded class offerings. No longer is it “Girls in Home Ec, Boys in Shop” as even local media have noted. (https://www.wkyc.com/article/tech/science/girls-in-stem/girls-in-stem-betsy-kling-explores-welding-so-much-more-than-heat-and-metal/95-550149660 ). Manufacturers have taken note too, with Lincoln Electric launching a line of women’s welding gear with Jessie Combs. Increasingly, training centers themselves are targeting women, as this recently developed infographic called "Breaking the Status Quo," from RSI, The Refrigeration School shows: https://www.refrigerationschool.com/wp-content/uploads/women-in-hvac-career-guide.jpg (click image to enlarge)    read more >

Industry Trade Association Addresses the Skills Gap Issue

Today’s guest blog post comes from Precision Machined Products Association (PMPA). More and more industry trade groups are organizing to address the skills gap, and PMPA has certainly been in the lead of that effort. Just last year they launched MFG, an online one-year certification and job training course for its members that allows companies big and small to have a consistent, accredited training program. Here is the post, which also appeared in Production Machining. Training the Next Generation: The Need for Professional Development Establish a training program that identifies the necessary requirements to be fulfilled. Professional development and staff training are important to the success of every shop. Professional development ensures employees maintain appropriate certifications, knowledge, safety and ethics in the professional environment. The goal of professional development is to have a qualified staff. Qualified employees have the skills needed to deliver the highest quality of service to our customers. This can be accomplished by establishing training programs, workshops and ongoing educational opportunities. This benefits the company as a whole by improving productivity, culture and customer loyalty while helping employees achieve their highest and best performance. Establish a Training Program Establish a training program that identifies the necessary requirements to be fulfilled. Safety training, technical competency and performance techniques are all possible deliverables. By providing this kind of training, the company can feel comfortable knowing they have improved staff knowledge leading to improved performance from their employees. Better performance means improved safety, quality and customer satisfaction. Training improves competency, so it improves performance and trust. Improved trust improves teamwork. Everybody wins. Why would you choose not to establish a training program? Administer the Training Program Identifying training needs is the first step. Administering a program to provide the training, testing that it has been effectively learned, and tracking training…read more >