The average B2B chemical or composite manufacturing company spends only 8% of their revenues on marketing, according to The CMO Survey by Deloitte. What can it get in return for such a modest investment? With a clear understanding of effective tactics and channels and a solid marketing plan in place, quite a lot.
The chemical and composites industry is certainly not a one-size-fits-all sector. It comprises a vast network of interdependent companies and suppliers, making an integrated marketing strategy essential for success.
Marketing for the Digital Age
The biggest challenge in chemical and composites marketing is that it used to be a sub-function of sales and used “old school sales” techniques focused on building relationships. This helps explain why the chemical and composites industry ranks at the bottom in terms of the adoption of digital technology across its business practices, including marketing and marketing automation.
Chemical and composites manufacturing companies that have not re-invented their marketing approach for the digital age are losing ground to new competitors that are embracing content marketing activities and inbound-based marketing techniques. Led by these innovation-friendly first-movers, marketing has taken a more prominent role in lead generation and nurturing — and it couldn’t come soon enough!