A survey conducted by the National Association of Manufacturers found 53 percent of its members anticipate a change in operations in the coming months and 78 percent expect a financial impact from the pandemic.
Manufacturers need more global visibility from lead to cash and shorter intervals for Configure, Price, and Quote (CPQ) activity to close deals. They also need to identify alternative revenue streams to provide tighter consumer intimacy, better margins, and effective remarketing capabilities.
The pandemic has accelerated and reprioritized digital agendas for manufacturers. Creating a deeper connection with customers beyond the sell-it-and-forget-it mentality provides more stability in times of disruption.
Customers need to feel they get additional value if they buy directly from the manufacturer. At the same time, it is a balancing act to ensure channel partners do not see more B2C activities as a conflict.
Read how manufacturers can move to a new business model in Pandemic means manufacturers must boost customer experience.
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