by Fronetics | Nov 8, 2018 | Blog, Content Marketing, Current Events, Logistics, Marketing, Strategy, Supply Chain
Artificial intelligence (AI) is changing the way the global supply chain operates and may make most supply chain management companies obsolete in 5-10 years. What can your company expect and what are the best strategies for preparing?
AI has a significant presence in supply chain management. Leading companies already use AI to run predictive analytics and to automate repetitive, labor-intensive tasks like purchasing, invoicing, and customer service. But executives are still needed to make decisions after reviewing data.
[bctt tweet=”Authors from a recent study predict that in 5-10 years the supply chain will be run entirely by digital technologies that could eliminate the need for human oversight.” username=”Fronetics”]
According to a study from the Harvard Business Review, that’s about to change. In 5-10 years, the authors predict, the supply chain will be run entirely by digital technologies that could eliminate the need for human oversight. Blockchains can coordinate between the parties involved in flexible supply networks, improving transparency and crisis-response times. Robotics already automate warehouses and fulfillment centers, increasing efficiency and minimizing the risks of employee injury. Moreover, digital technologies are increasingly able to execute purchasing and inventory management tasks.
Digital control towers
The new nerve-center for leading organizations’ operations is the “digital control tower,” typically a room with walls of high definition screens showing real-time graphics and information on every step in the supply chain. Data analysts staff these rooms 24/7, monitoring the flow from order to delivery.
These control towers provide end-to-end visibility into global supply chains. Process bottlenecks and inventory shortfalls can be predicted and managed before problems develop. Digital control centers allow more predictive management styles based on up-to-date and accurate information, which results in increased customer focus and process efficiency. It is an operational model that is gaining popularity across business sectors.
What does this mean for supply chain management?
Technology will continue to replace human labor in supply chain management. As data analytics and self-learning technology develop, we can expect to see more kinds of jobs performed by AI. Planning for this trend towards automation is essential for all supply-chain companies.
The role of supply chain executives continues to change. Instead of managing people performing repetitive and transactional tasks, executives are working with a smaller number of highly specialized data experts to design information and material flows. The skill set associated with supply chain management will shift to focus on data analysis and algorithms, which will require new hiring or employee re-training. Finding skilled analysts to fill those roles will be crucial to organizations seeking to adapt to new supply chain conditions
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by Fronetics | Nov 7, 2018 | Blog, Content Marketing, Logistics, Marketing, Social Media, Strategy, Supply Chain
Companies can reach millennial B2B buyers by partnering with popular social media users who speak with passion and expertise to young professionals.
Numbering 80 million, millennials have become the largest demographic segment in the United States and are expected to command more than $1 trillion in disposable income by the year 2020. As this generation comprises an increasing percentage of the B2B buying landscape, businesses must pay attention to their professional purchasing habits — which, it turns out, bleed over from their personal purchasing patterns.
Millennials are notoriously hard to reach through traditional marketing strategies. But successfully appealing to that demographic is becoming more and more important. Jay I. Sinha and Thomas T. Fung, marketing specialists at Temple University, explain how B2B companies can use “nano-marketing” techniques to generate buzz and build credibility with millennials.
Micro-influencers
Large companies have traditionally used celebrities and recognizable logos to promote their brands. But millennials have turned away from advertising and endorsements that aren’t perceived as authentic or based on expert knowledge.
Millennials have led a surge in the popularity of social media platforms, and companies have found increasing success in using sites like Instagram, Snapchat, Pinterest, and YouTube to market to this demographic.
[bctt tweet=”“Micro-influencers,” or social media users whose followers number between 1,000 and 100,000, have proven four times more likely to generate viewer engagement over the products they review than celebrity endorsements.” username=”Fronetics”]
“Micro-influencers,” or social media users whose followers number between 1,000 and 100,000, have proven four times more likely to generate viewer engagement over the products they review than celebrity endorsements. Partnering with micro-influencers is a highly affordable way for companies to make their brands visible and relatable.
Micro-influencers have helped turn start-ups into major brand-names and have helped established companies extend their influence into youthful markets, leading Inc. magazine to declare 2018 the “Year of the Micro-Influencer.”
Strategies for B2B companies
Sinha and Fung argue that this strategy is not just for B2C companies selling products known to appeal to millennial consumers. What’s known as nano-marketing, or partnership with micro-influencers, can be just as effective for B2B.
Sinha and Fung offer four managerial guidelines for B2B companies seeking to partner with micro-influencers.
1. Micro-influencers have specialized and self-selecting audiences.
Picking the right micro-influencer to partner with can help you target the sub-groups you want to reach. For instance, GE uses nano-marketing to help recruit female tech professionals.
2. Recognize the strengths of micro-influencers.
They make products and companies seem relatable to viewers by sharing their personal experiences. Companies can leverage this in their branding.
3. Nano-marketing works best as “a subtle nudge.”
Whereas traditional advertising has to be heavy-handed to be memorable, micro-influencers speak with credibility about brands that they personally have used.
4. Entertainment.
Micro-influencers find innovative ways of producing content that will appeal to their followers and incorporate their brand endorsement in creative formats.
Millennial B2B buyers should be an increasing focus of your targeted marketing activities — if they’re not already. How are you reaching this audience?
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by Fronetics | Nov 6, 2018 | Blog, Content Marketing, Logistics, Marketing, Strategy, Supply Chain
Here’s how content can help support sales during the seven stages of the sales cycle, including personalization and building last relationships.
The sales process is often a complicated journey that includes uphill climbs and unexpected roadblocks. Sales teams are all too familiar with these obstacles, but they don’t have to fight these battles alone.
Arm a sales rep with targeted content to share with prospects during specific moments in the purchasing process, and it will build his or her reputation as a knowledgeable resource. That can be the key to getting a foot in the door, advancing through the final stages of a purchasers’ decision, or closing the deal.
Strong communication between sales and marketing can help achieve big-picture goals when it comes to creating content, including:
- mutual understanding of the buyer’s journey
- updated prospect insights that can affect future marketing content
- brainstorming content solutions to bottlenecks in the sales funnel
Let content support the sales cycle by demonstrating the business value of your product or solution.
Here are examples of how content can assist your sales team throughout the seven stages of the sales process, even when the sales journey goes off course.
Infographic: 7 Stages in the Sales Cycle Content Can Help
(Made with Canva)
Takeaway
According to DemandGen’s survey, 75% of buyers said that content had a significant impact on which vendor they chose. And that’s not all, 89% of respondents stated they selected brands that provided content that made it easier to demonstrate ROI and/or build a business case for their purchase.
These numbers highlight how important it is for sales teams to be armed with informative, relevant content to support the sales cycle. It’s not enough to just produce content, sale teams need to be ready to provide this content to potential customers at every point of contact.
Want help identifying what content your supply chain and logistics company can provide to your sales team? Let us help.
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by Fronetics | Nov 5, 2018 | Blog, Content Marketing, Logistics, Marketing, Supply Chain
Case studies continue to be the preferred content type among B2B buyers. These 5 elements will help you write case studies that engage prospects and generate leads.
We just wrote about how buyers prefer case studies over all other kinds of content. In fact, 89% of B2B marketers consider customer testimonials and case studies as the most effective kinds of content in converting buyers. So how do you write an effective case study that generates leads?
Here are 5 elements of an effective B2B case study:
1) Story
Yes, case studies are all about the data, but fundamentally, they are stories. You’re not making a sales pitch — case studies written from this perspective tend to fall flat, and fail to attract and engage prospective buyers. Case studies written as stories succeed. You’re presenting a narrative to a prospect that uses data and testimonials to explain how your products and services helped another business.
[bctt tweet=” Case studies written as stories succeed. You’re presenting a narrative to a prospect that uses data and testimonials to explain how your products and services helped another business.” username=”Fronetics”]
2) Information and Education
Again, a case study is not a sales pitch. When you write a case study, you’re presenting information about your products and services, and educating your prospects about how your business has helped organizations similar to their own.
3) Concrete Examples
One of the reasons case studies are such a high-performing content type is that they are data-driven. Prospective buyers turn to case studies for concrete examples. Make it easy for them to find the information they’re looking for. Use bullet points, quotes, and lists to clearly convey the most important data.
4) The Right Length
Finding the right length for your case study is all about striking a balance between presenting complete information, telling a compelling story, and avoiding minutia that’s too specific to matter to your prospects. Your reader needs to be able to skim quickly to get the gist, and then dive back in for more details.
Think about it this way: if you’re the prospect, does your case study leave you with questions about how your products and services helped another business? If so, chances are you haven’t included enough information.
5) The three key components
- The Challenge: This is chapter one of your story. What challenge or challenges was your customer facing before implementing your products? This is a great place to use customer quotes.
- The Solution: Here’s the meat of the story! How did your business address the challenges your customer was facing? Data is key here.
- The Results: Your story’s conclusion. Use key metrics to demonstrate the immediate and ongoing results of your solution. Numbers like savings, revenue gains, sales growth, and ROI belong in this section, rounded off with another customer quote.
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by Fronetics | Nov 1, 2018 | Blog, Content Marketing, Logistics, Manufacturing & Distribution, Marketing, Supply Chain
Case studies are a perfect way to organize and present hard facts about your products and services — and they continue to be one of the most effective types of content out there.
A recent study shows that case studies far outperform other types of content. The DemandGen 2017 Content Preferences Survey Report found that 78% of B2B buyers used vendor case studies as part of their purchasing decisions in the past 12 months. 89% of B2B marketers consider customer testimonials and case studies to be the most effective kind of content to convert buyers.
Buyers are looking to “benchmark their own experiences against others who’ve tackled similar challenges,” concluded DemandGen’s report. Data is powerful stuff, and buyers know it. In fact, DemandGen’s survey indicated 48% of buyers not only prefer case studies but find them to be the most valuable type of content for research. 57% even said that they would register and share information in exchange for case studies.
Why the case study?
Beyond the obvious answer that data is important to buyers, why do they respond so well to this type of content? According to Frank Cespedes, Senior Lecturer at Harvard Business School and author of Aligning Strategy and Sales, ultimately, buyers are less interested in theory than practice: “Buyers, especially B2B buyers, want to know what others are doing with your product, not what they might do to improve productivity or other outcomes.”
[bctt tweet=”Yes, case studies are highly effective, but their success is predicated on your reputation as a thought leader and source of knowledge and expertise.” username=”Fronetics”]
As a side-note, before you jump ship on aspects of your content marketing strategy, like blogs, social media, webinars, etc., that focus on sharing ideas rather than just data, consider this: even the most impactful case study is only as useful as the totality of your brand’s content. In other words, yes, case studies are highly effective, but their success is predicated on your reputation as a thought leader and source of knowledge and expertise.
What makes a case study effective?
Not all case studies are created equal. Data presented in a confusing or incomplete way, for example, doesn’t pack the kind of punch needed to demonstrate exactly how your products and services help your buyers. A good case study should prompt the reader to explore your brand and the rest of your content. Ultimately, the goal is to show your prospect that making a change in their process will lead to better results.
As you design a case study, think about giving buyers the tools to present your products and services to decision-makers within their business. “Especially in B2B contexts,” says Cespedes, “buyers must justify a decision to others in the organization who have competing priorities for limited funds.” This is where a compelling case study comes in. Show your potential buyers how other organizations benefit from your offerings, and they have the tools to make a case for your business.
Case studies are proven to be well worth the time and energy needed to produce them. Recommendations and data from real customers have a powerful impact and should continue to be a significant component of your overall content marketing strategy.
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by Jennifer Hart Yim | Oct 30, 2018 | Blog, Logistics, Supply Chain
In order to transform and mature, these supply chain elements need to be incorporated into a brand’s foundation: stakeholder alignment, visibility, and role clarity.
This guest post was written by Paul Rea for Argentus Supply Chain Recruiting, a boutique recruitment firm specializing in Supply Chain Management and Procurement.
I’ve spent my professional life working in and leading industrial and consumer product supply chains. They all have the same foundational needs that I group into three general areas: Stakeholder Alignment, Visibility, and Role Clarity. Organizations with mature supply chains will likely have this embedded in their DNA already. Immature supply chains that are looking to transform from something reactive to far more collaborative and effective may not. They need to. Supply Chains without these elements are likely incapable of further transformation and maturation.
1. Stakeholder Alignment:
Communicate, collaborate and communicate some more. Find out where you (and everybody else) are going.
Supply Chain is a river running through the company, winding through geography, and facilitating and transporting so much commerce. The vision driving supply chain needs to be completely aligned with its stakeholders and corporate strategy. Even between the rudimentary goal posts of cost containment and service delivery, supply chain needs to consider its internal stakeholders in commercial, finance, manufacturing, regulatory, quality etc. as they all influence, and require support from, the supply chain. Imagine a team that set out to drive costs from the network by extending transit times and managing waste and inventory to that perfect “Lean” minimalism. They have potential problems in a speed to market centric sales strategy. Supply chain needs to be at the table when key commercial strategies are being set or the team and potentially the organization run the risk of fatal mis-alignment. Then, ongoing planning and execution should be managed through a Sales and Operations Planning process (S&OP).
I’ve used internal alignment examples, but the supply chain has many external stakeholders too, not the least of which are 3rd party partners and the customers themselves. The same principles apply. In many cases supply chain will use sales/marketing initiatives as the proxy for the customer’s voice, but it’s not unreasonable to conduct supply chain reviews with key customers. Regular planner to planner (vendor to customer) interfaces are key to day to day supply chain management success. (note: The entire concept of vendor management falls within this bucket.)
2. Visibility:
You must be able to see what you’re doing, and the numbers should add up.
Think of the vast amount of end to end supply chain activities that live outside your walls, from overseas suppliers to 3rd party finished goods DC’s, not to mention the holy grail of supply chain planning itself; the demand signal. Too often people don’t look past their own ERP when thinking of supply chain planning, management and execution. Holistic, managed visibility is critical as complexity or channel distance grows. Remember Mr. Drucker’s “what gets measured gets managed”.
This is more than data and some KPI’s. It requires the right granularity. A monthly KPI may mask what actually happens every Tuesday afternoon. Data and averaged metrics without meaningful analysis and management are dangerous to supply chain. Inventories (raw and finished), transit times and supplier lead times all need to be continually assessed against good demand forecasts, marketing programs and other requirements. The numbers also need to be as real as possible. “System” inventories must match real inventories or there could be a serious mis-fire on a reorder point. Actual transits need to be reviewed in real time. Imagine the manufacturing lead time chaos created if import raw materials were simply presumed to be hitting the port on schedule from when a P.O. was cut (manually or out of an MRP system). Visibility goes far beyond data itself, and an expectation of disciplined regular monitoring and management has to sit on top of the data.
3. Role Clarity:
Get organized.
Supply Chain is a team sport. Silo-ed, uncoordinated (different than decentralized) or poorly staffed supply chain structures can result in decisions that sub-optimize the whole or outright conflict with each other. Even “segmented” channels need to be considered in the whole, somewhere. Supply chains can be complex and distant requiring constant attention. You must invest in either robust tools supporting the process or appropriate head count to compensate. This breaks into a couple of key elements:
a) The specific jobs or activities. Generally the key aspects of Supply Chain management are Purchasing (sourcing), Planning (scheduling) and Logistics (delivery). Sometimes logistics is separate, and procurement may be included with Purchasing, depending upon how location specific the procurement activities are. Manufacturing (make) is often structurally not part of the actual Supply Chain team but is literally surrounded by it and the activities are highly interdependent. In the preferred model of a demand driven Supply Chain a demand forecast drives both production planning and supply chain planning which in turn drives procurement directly and purchasing strategically. Purchasing is also influenced by the forecast directly.
Supply Chain planning and demand planning are different. The demand planner’s role is to be the custodian of a high level of forecast accuracy compared to actual demand. If there is not a credible owner of demand planning (beyond finance gathering forecast data) in the organization then supply chain needs to account for that. I can’t over-emphasize the importance of a good item, location and time sensitive demand forecast to supply chain’s success. Think of it like a TV picture where the demand/forecast is the cable signal input and Supply Chain is the TV set itself. Regardless of how fantastic the set is if the input signal is poor or corrupt the picture on the set will be bad. And there’s very little the rest of the Supply Chain group can do to fix it other than educated guesses.
b) The talent itself. Make sure you staff the right people. Internal moves are great because they shorten or eliminate the company specific learning curve and can further employee development and engagement, but it can be dangerous to be a completely “homegrown” supply chain team. Its like running a race with an in experienced pit crew. Never be afraid to go outside and get the appropriate talent if you don’t have it internally. Jane may be a great performer in sales but does that mean she would necessarily succeed in accounting? Why then, supply chain.
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