2020 Manufacturing Industry Trends: Customers and Insight

Published June 10 2020 by Dominic Telaro

How quickly and honestly can you answer this question: How often do you collect customer insights and use that to build lasting connections?

Oftentimes, organizations aren’t doing all that they can to get the most out of their customer insights, causing them to fall short on what could be potentially easy wins with current or former customers. Results from this survey report show, other manufacturers in the industry are consistently collecting customer data and using the insights to build better and lasting relationships.

Q. Which of the following best describes your organization’s connections with its customers and their insights?

About half of these respondents consistently collect, analyze and utilize insights to better engage with customers, while 33% stated they don’t currently use them to their advantage. What information like this really reveals is, yes there is room for improvement but even more so room for improvement in making better sense of data.

COLLECT  → ANALYZE →  UTILIZE

By aligning Customer Support, Field Support, and BI/Analytics, companies can better leverage their data to elevate their customer experience to positively impact their bottom lines. This shift ultimately points to the implementation of AI initiatives to facilitate customer engagement endeavors. Utilizing tools like AI can help automate customer-centric activities to enhance the customer experience. According to an article in Forbes, organizations that can apply real-time AI to IoT data can gain substantial business value, including as much as a 38% uplift in profitability by 2035.

You cannot achieve success without timely and relevant information!

Download the full report here to get instant access to full survey report and analysis: 2020 Manufacturing Industry Trends: Survey Result and Analysis.

2020 Manufacturing Industry Trends Survey Results & Analysis

 

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