For every $1 spent in manufacturing, the economy receives an additional boost of $1.89
For every $1.00 spent in manufacturing, another $1.89 is added to the economy. That is the highest multiplier effect of any economic sector. In addition, for every one worker in manufacturing, there are another four employees hired elsewhere. (Source: NAM calculations using IMPLAN) With that said, there is new research suggesting that manufacturing’s impacts on the […]
30 Must-know B2B Sales Prospecting Statistics
From MaketingProfs.com — How do B2B buyers like to be contacted by salespeople? Which types of vendor content tend to capture attention best? When should B2B salespeople engage with potential buyers? To find out, the RAIN Group surveyed 488 B2B buyers and 489 sellers. Respondents were polled on their outreach, communication, and content preferences. B2B Buyers tend to want to […]
Distribution Done Right: How Co-Op Agencies Can Make Your Co-Op Funds Usable
Co op marketing funds have played a significant role in the marketing industry since the 1980s. Yet, every year, between $14 billion and $35 billion in manufacturer co-op marketing funds go unused. Cooperative marketing offers a number of benefits including increased brand awareness locally and nationwide. So why aren’t distributors using their co-op marketing funds […]
US Metalworking Equipment Orders Were Up 8.6% for the 12-month Period Ending in March 2018
According to ITR Economics, US metalworking equipment orders were us 8.6% year-over-year in March. Additionally, according to the Association for Manufacturing Technology, machine tool orders were up 26% in the first quarter of 2018. Sources: ITR Economics and AMT
3 Reasons Why Outsourcing An Industrial Marketing Consultant Can Boost Profits
It’s always on a business’s agenda to increase brand awareness and accelerate growth. After all, you want to market your industrial MRO distributorship with new strategies to beat out the competition and increase profits. One way to improve your business’s marketing strategies is to hire someone new. But hiring takes time and money you may […]
More than 70% of Industrial Distributors Have No Plans to Sell Through Amazon
According to a recent MDM survey of nearly 300 industrial distributors, Amazon remains both a substantial threat and an opportunity. Key survey takeaways include: More than two-thirds of distributors surveyed view Amazon as a threat. More than a quarter of distributors polled said they sell, or are willing to sell, all the products they carry on […]
Global Steel Production Rose 12% in March
Because of manufacturing demand, global steel production was up a whopping 12% in March. Forecasts from the World Steel Association show a continued increase in demand for the rest of this year and in 2019. Check out this article from New Equipment Digest to learn more.
Emails with some form of “THANK YOU” in the subject line enjoy higher open rates than those that do not express gratitude by up to 69%
Email subject lines that express gratitude tend to outperform email subject lines that do not, according to a recent Marketing Profs report. The report was based on 2017 data from email campaigns sent by Cheetah Digital clients in a wide range of verticals. The researchers found email subject lines that included terms such as “with heartfelt […]
Reshored US Jobs Have Grown 2,800% Since 2010
According to a recent article on IndustryWeek.com: Reshoring and foreign job announcements (FDI) surged in 2017 to over 170,000 U.S. manufacturing jobs. This is strong evidence that work can and will be successfully brought back—and is especially relevant in a time of intense debate over tariffs and the trade deficit. All told, job announcements were up 52% […]
ITR Economics forecasts inflation to rise from 2.1% to 2.3% by end of 2018
ITR Economics has been forecasting to mildly accelerate in the last half of 2018–and then to moderate in 2019 to 1.3% Here is a link to their most recent commentary on inflation–and the 3 things that could present a risk to their outlook: a trade war, tax code changes and wage pressures.
