Manufacturing sector is ditching one-off sales and using digital to add value

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 04, 2021, 2:25 PM UTC

According to a survey of 467 manufacturing executives across the UK and Europe, 65% of executives agree that their organisations made long-term decisions, shifting from products to services.

Manufacturing businesses are ditching one-off sales and offering more personalised solutions to deliver lasting value. Businesses are combining physical products with service contracts, subscriptions contracts and digital services.

At the same time, 9% of the respondents expressed low trust in their organisations to live up to the task. 45% of the executives blame the complexity and number of data sources for holding them back from fulfilling customer expectations. Another 37% blamed unreliable data sets.

According to Gartner, manufacturers will spend $625.8bn on IT by 2025 to meet changing CX expectations. Similarly, 37% of respondents prioritise customer data platforms and upgrading the overall consumer digital experience.

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