Marketing is not optional for 2023

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As a word-of-mouth industry, gear manufacturers and suppliers have historically relied on their niche, close-knit relationships to sell products. Those days are gone. We are a global supply chain — a global network — and customers do not do business with companies that don’t have websites or they haven’t seen real advertising for. If you are not investing some of your budget into marketing, then you are limiting your growth and sales.

AGMA knows the dilemma of marketing very well. It isn’t always easy to dedicate time and resources to social media, emails, or even print ads. We are a trade association selling education, standards, and networking to an audience that is very busy managing plant floors and hardly ever behind their computers. However, we make the effort because we see the returns. Don’t believe me? Here are some important statistics to share about marketing for manufacturers:

• Digital marketing can generate 15 percent more business from existing customers. [1]

• 56 percent of engineers are already in their second or third stage of the buying process before they even contact the sales team/vendor. [1]

• 67 percent of manufacturing marketers blame their stagnant success over the last year on not enough time devoted to content marketing. [1]

• Email marketing generates $44 for every $1 spent (4,400 percent ROI) and has a higher conversion rate than social and organic search combined. [2]

• 72 percent of customers prefer to learn about a product or service through video. Leverage online marketing content such as video tutorials, webinars, vlogs, demos, and more. [2]

• Eight in 10 decision makers would rather read articles than view ads to learn about your company. [2]

Marketing tends to be one of the first budgets cut during the hard years. Unfortunately, that is when you need it the most. Experts explain companies have to get their products in front of their customer more than seven times before they will consider contacting them. In order to do this, you have to reach them at their computer, on their phone, and any platform where they have internet access. Getting started is not that hard, and maintaining is even easier once you have the right plan in place. If you believe in your products, love showing off the amazing work your company is doing, and want to increase your customer base, then it is time to come join AGMA’s free marketing webinars.

Currently, there will be six, one-hour webinars led by subject matter experts that will cover everything from social media basics, press releases, content marketing, and how to get customers to your tradeshow booth. We know that doing this all in-house might not be feasible, and we are bringing on one of our own outsourced marketing firms to help demonstrate how you don’t have to do it alone.

Competition is very steep right now. Don’t lose out to a company that might not have the same great products you have, but that gets the business because they market more effectively. If you have any questions about how to use AGMA marketing resources, please contact Colton Schlotman at schlotman@agma.org or Dave Friedman at friedman@agma.org to learn how to use our publications.

Sources

  1. hookagency.com/blog/manufacturing-marketing-statistics
  2. blog.marketveep.com/40-stats-marketing-for-manufacturers

Upcoming Training Seminars

The Ukraine Conflict and Sanctions on Russia and Belarus: What Companies in the Bearing and Gear Industries Need to Know

March 15 | Webinar

As the Russian invasion of Ukraine passes the one-year mark, the United States and its allies and partners continue to coordinate in implementing increasingly comprehensive export controls and sanctions on trade and investment with Russia and Belarus. This webinar will unpack these new laws from a U.S., U.K., E.U., and Canadian perspective and address what companies in the bearing and gear industries need to do to stay compliant as allied governments step up their enforcement efforts.

Outsourcing Your Marketing

March 22 | Webinar

The idea of handling your own marketing and communications can be very stressful. Luckily, there are companies out there that will help you do this. Christopher Mahon, Principal, Creative Director with TGD Creative Strategies and Solutions will share important things to think about to maximize your investment with a designer or communications expert. Mahon will talk about how you can decide when it is time to outsource, how to find the best one, what to ask for, costs, and so much more. Sign up to learn how you can still be successful at marketing without having an in-house team to do it.

Epicyclic Gear Systems

March 28-30 | St. Petersburg, Florida

Learn and define the concept of epicyclic gearing, including some basic history and the differences among simple planetary gear systems, compound planetary gear systems, and star drive gear systems. Cover concepts on the arrangement of the individual components including the carrier, sun, planet, ring and star gears, and the rigid requirements for the system to perform properly. Critical factors such as load sharing among the planet or star gears, sequential loading, equal planet/star spacing, relations among the numbers of teeth on each element, calculation of the maximum, and optimum number of planet/star gears for a specific system will be covered. Provides an in-depth discussion of the methodology by which noise and vibration may be optimized for such systems and load sharing guidelines for planet load sharing.

Basic Training for Gear Manufacturing

April 17-21 | Chicago, Illinois

Learn the fundamentals of gear manufacturing in this hands-on course. Gain an understanding of gearing and nomenclature, principles of inspection, gear manufacturing methods, and hobbing and shaping. Using manual machines, develop a deeper breadth of perspective and understanding of the process and physics of making a gear as well as the ability to apply this knowledge in working with CNC equipment commonly in use.

What Bearing and Gear Manufacturers Need to Know About the Inflation Reduction Act’s Support for the Electric Vehicle Supply Chain

April 19 | Webinar

Passed in 2022, the Inflation Reduction Act provides a range of subsidies designed to promote development of the U.S. electric vehicle supply chain. The implementation of the act has not been without controversy, and many of the key provisions manufacturers need to be aware of are only now coming into effect. In this program, a group of tax, trade, and policy experts will pull back the curtain on this legislation and explain the key provisions and opportunities that are starting to reshape the competitive landscape for bearing and gear manufacturers.

Reverse Engineering

April 25-26 | Online Course

Reverse engineering a gear system is a not too unusual task and in many, but not all, cases the process goes fairly well, thus it is easy to become complacent. It is important, however, to fully understand the process and the best practice procedure for reverse engineering a gear system. Failure to fully follow best practice can result, at best, in an unhappy gear user, but in the worst case, it can lead to very expensive, time consuming, and reputation damaging litigation.

Advertising & Finding the Best ROI

April 26 | Webinar

Does advertising really work? Randy Stott, VP, AGMA Media and David Friedman, Associate Publisher, AGMA Media will go over the importance of spending a little money to make some and why a good advertising plan can bring immediate ROI. They will teach you why using trade publications, newsletters, curated webinars, and many other advertising channels are so important to get your brand name in front of your customer. Join us to get the inside information on how to start using all your resources today.

2023 AGMA/ABMA Annual Meeting

The 2023 AGMA/ABMA Annual Meeting will be at Disney’s Grand Floridian Resort & Spa in Lake Buena Vista, Florida, near Orlando. Join your peers for a three-day event that will allow you to get out of the office, gain a fresh perspective, and hear from subject matter experts while networking at one of Disney’s luxurious resorts. Don’t miss out on this great opportunity to connect with other top-level executives and share your perspective on how to drive the industry forward.

More info: www.agma.org/events/agma-abma-annual-meeting

Calendar of Events

March 16-18 2023 AGMA/ABMA Annual Meeting Lake Buena Vista, Florida

March 20 — Helical Gear Rating Committee — WebEx

March 21 — Bevel Gearing Committee — WebEx

March 22 — Outsourcing Your Marketing — Marketing Webinar

March 24 — Nomenclature Committee — WebEx

March 28 Helical Enclosed Drives High Speed Units Committee WebEx

March 28-30 Epicyclic Gear Systems St. Petersburg, Florida

April 4 — Powder Metallurgy Committee — WebEx

April 5 — Emerging Tech April Webinar — Webinar

April 12 — Aerospace Gearing Committee — WebEx

April 13 — Emerging Tech – Electric Vehicles Committee — WebEx

April 17-21 — Basic Training for Gear Manufacturing — Chicago, Illinois

April 19 — What Bearing & Gear Manufacturers Need to Know About the Inflation Reduction Act’s Support for the Electric Vehicle Supply Chain — Trade Webinar

April 25-26 — Reverse Engineering — Online Course

April 26 — Advertising & finding the Best ROI — Marketing Webinar