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Get a Competitive Edge with Comprehensive AI & GEO Insights If you are beginning to notice an erosion in organic traffic and leads, it may be time to...
If your sales numbers slumped in August, you're not alone. The Purchasing Managers Index showed the most dramatic dip in U.S. manufacturing sales in years in August, though these numbers rebounded in September.
At the Manufacturing Month Kickoff put on by the Buffalo-Niagara Partnership Tuesday, Gardner Carrick, VP of Strategic Initiatives at the Manufacturing Institute in D.C., and Dr. Jay Walker of Niagara University, discussed the economic outlook for advanced manufacturing in Western New York and nationally.
Carrick confirmed that we are in a "stalling period in manufacturing growth." This slowdown has roots both in global economic conditions and in changes closer to home.
Carrick named two main factors driving exports down worldwide:
The top 3 difficulties facing manufacturers in the U.S., according to Carrick and Walker, are:
For advanced manufacturers, especially those selling components or equipment to larger, global companies, these challenges make sustainable growth look like an uphill battle. While these factors are outside our immediate control, Steve Davis, CEO of TapeCon, shared some practical sales and marketing advice for manufacturers looking to compete and grow:
Marketing for photonics, optics, instrumentation and other advanced manufacturing sectors we serve will continue to be a challenge, but these strategies can help you create competitive advantage and grow revenue, even in an uncertain global market.
In the short term, consider our Q4 tips to close more business by the end of this year.
Launch Team works every day with small and mid-sized manufacturers looking to grow sales. Contact us for a 30-minute consultation with one of our principals.
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