In 2020, COVID-19 changed all aspects of daily life, and business was no exception. Seemingly overnight, projections became useless as companies in every sector were forced to shutter or dramatically scale back operations. The manufacturing industry was hit hard, but it is bouncing back much faster than many other sectors. So what does this mean for 2021?
Uncertainty Will Continue
If 2020 taught us anything, it’s that the world can change on a dime. With the pandemic still raging and economic recovery highly uneven, it’s impossible to say for sure what will happen next. Smart companies are finding ways to remain agile, flexible, and ready to cope with changing conditions.
Digital Adaptation Is More Important Than Ever
You’ve probably moved as many of your operations as possible to the virtual space. Social distancing requirements are likely to continue through most of 2021. So you’ll need to figure out how to maximize your digital offerings. From sales to design, the more you can offer virtually, the more competitive you can be. Make sure you have team members who can walk customers through the digital experience, especially if you handled everything in person before the pandemic.
Integration Is Essential
If your company operated under a siloed model, separating the sales team from the marketing team from the customer service team, now is the time to learn to integrate. With everyone tightening their belts, you will find more success by merging these operations under a more general customer persuasion model.
The Bottom Line? Evolution
The manufacturing industry, like virtually all sectors, is still finding its way through this new reality. Early indicators show that it is bouncing back from a sharp decline early in the pandemic. But things are not likely to go back to normal anytime soon. Agility, digital transformation, and the ability to integrate previously siloed business models are likely to be the keys to success over the next 12 months. As time moves on, you will gain more insight into your particular customer base. This will help you understand what you need to do to continue to earn their business. Companies that can continue to evolve in real-time are most likely to succeed.
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