Last quarter, steel was one of the most sourced products on certain platforms—and that doesn’t surprise us. The steel and metals industry has been supplying essential materials to the aerospace, aviation, and medical industries in the midst of the COVID-19 global pandemic.
If you’re one of those suppliers, you might be wondering: “How can I capitalize on this? How can I keep this momentum of growth going, long after this ordeal is over?” The very first thing you need to acknowledge is that you can’t do everything. The fastest way to fail is to set extremely high, unreachable goals for yourself and your team. You need a clear, realistic, and attainable business plan with concrete goals and milestones. Not only will this help you track your growth, but it will keep your growth sustainable and manageable. When you don’t have a plan, that’s when you and your employees get overwhelmed—and nothing gets done.
What Do Your Employees Need?
Let’s start with your employees, because if they’re happy, your clients are happy. Both are essential to what you do, and both can make the difference between success and failure. When you’re trying to make sure your company is growing, you should make sure your company culture is thriving. Why is this the first step? Because that’s something very much in your control—unlike how your customers react to your services, which is a little harder to control.
Take time to reevaluate your company culture. Are processes as smooth, safe, and practical as possible? Are you seeing a lot of employee turnover? Is there a reason more common than others? Reducing employee turnover is one of the most effective ways to keep your employees happy, and ensure growth.
Most modern workers are looking for flexibility. Making internal improvements with this idea in mind can lead to increased productivity, improved quality control, better employee retention, and eventually, an increase in your client base.
What Do Your Clients Need?
Focusing on your clients should feel like second nature. If you aren’t already doing this, you have a lot more work to do than what’s on our list! One of the best ways to keep your clients happy? Communication. Regularly communicating with your clients is a great and easy way to keep them happy, and keep you top of mind. You can kill two birds with one stone by asking them for feedback—they’ll feel valued, and you’ll get valuable, concrete information on how to grow your company.
Contacting your clients only when there’s a problem is the bare minimum, and is less likely to get you customer referrals. Go above and beyond with your communication, and you’ll quickly notice a difference in customer satisfaction.
Utilize Modern Technologies
Your online presence is more important right now than it’s ever been. Many manufacturers will deny this, claiming that their word-of-mouth referrals and traditional strategies are enough—but COVID-19 has quickly proved them wrong. The pandemic has changed the way businesses operate seemingly overnight. Video conferencing is the norm now, and tradeshow dollars are being shifted toward online solutions. More and more manufacturers are investing in different ways to stay connected with their customers.
If you’re serious about growing your steel and metals manufacturing business, you need to take advantage of the digital revolution. Doing so isn’t just for marketing purposes either, but for improving operation models and your supply chain, too. The real-time information you can get through digital means makes it possible to respond appropriately to unpredictable changes in the market.
Keep Learning, Keep Growing
The only way to grow in an industry is to understand that industry better than your competitors. Things change, and they change fast—the past few months have only been a small example of that. That’s why staying up to date on the latest trends and news in your industry will be one of your best defenses against obstacles like changing global policies, complicated distribution channels, and navigating new digital landscapes.
Read to talk about improving efficiency and reducing downtime in your facility? Get in touch with ProcessBarron today.