2016 was probably one of the most unsettled years the UK has seen politically and economically. With the country leaving the EU, and a complete novice winning the White House. It’s fair to say the world in which we now live has an air of uncertainty.
In spite of this uncertainty, UK manufactures have really stepped up to the challenge….
· UK manufacturing PMI at 57.3 in April, up from March’s four month low of 54.2
· Fast growth due to strong demand at home and abroad
· Ramped up production has meant a rise in employment within the industry
· Due to the Brexit vote and subsequent weakening of the pound, UK goods are cheaper for foreign
markets and are more competitively priced
· Consumer facing businesses have struggled but manufactures have benefited from the
What does it mean for marketing?
With the first growth seen in the manufacturing industry for 3 years, now is the time to get marketing right. It’s the end of product is king and more focus is needed on the end consumer. Companies such as Apple have really taken control of their ‘Go to Market’ customer rather than relying on ecosystems at OEMs, distributers and retailers.
Awareness and engagement needs to be heightened by manufacturers. We now live in a world of social media and it’s at everyone’s fingers tips, reaching the end customer is now much easier than it used to be, the field of communication is wide open so ensuring your product lives up to your brand values is imperative. In this competitive ‘social’ market we now find ourselves, it’s time to get the right strategy in place that positively engages with companies and customers alike.
Annual Manufacturing report 2017