We’re so Back!
Over the past year, the American manufacturing industry has seen a significant revival, with a seven percent growth marking the highest in over two decades. This trend will likely have a far-reaching impact on business-to-business marketing, even internationally. With the COVID-19 pandemic exposing the vulnerability of global supply chains and a worrisome political climate, businesses are now looking for reliable domestic suppliers. The shift to domestic manufacturing presents opportunities for B2B marketers to help businesses find suitable suppliers.
One industry that has particularly benefitted from this trend is the batteries for electric vehicles. Recently, the southern United States has been categorized as the “battery belt” as more pants are built close to the manufactured cars that need them for the process. Similarly, the domestic manufacturing of semiconductors has also made a resurgence on the domestic front. The U.S. government’s investment of $53 billion in chip manufacturing aims to reduce the country’s dependence on foreign suppliers and create new jobs while bolstering American competitiveness in the global semiconductor market.
The revival of American manufacturing is not just good news for workers but also for the environment. Manufacturing locally can reduce the supply chain’s carbon footprint, and bringing production back to the United States can help reduce the environmental impact of shipping products worldwide. The new factories arising from this process are also made with their carbon footprint in mind by implementing a “green-footprint” and much more energy-efficient standards. Despite challenges such as the high cost of real estate and equipment, the skills gap left by skilled workers leaving the industry, and the need for continued investment in infrastructure and training programs for workers, the resurgence of American manufacturing is a positive development for the United States.
Business-to-business marketers can exploit this shift towards domestic manufacturing by identifying and connecting with businesses looking for new suppliers. Similar to how many businesses left over the decades and had to work within the country they are entering, the same process will be repeated as they return to the domestic side. Marketers would use content marketing and thought leadership to educate businesses on the benefits of domestic manufacturing, including reduced shipping times and costs, more control over product quality, and avoiding supply chain disruptions. They can also promote sustainable manufacturing practices, including using environmentally friendly materials, reducing waste, and improving energy efficiency.
Even with all the benefits, it is worth noting that the resurgence of American manufacturing only arrives with its series of issues. As the domestic industry continues to grow and factories are built, there is a need for more skilled workers due to the lack of production the country has had over the decades. To sustain the growth, the industry needs continued investment in training programs for workers to keep up with the rapid changes in technology and evolving industry demands. The high cost of real estate, equipment, and labor has also made many current industry giants weary of crossing over to the domestic front.
The revival of American manufacturing presents an excellent opportunity for business-to-business marketers to help businesses identify reliable domestic suppliers, promote the benefits of domestic manufacturing, and promote sustainable manufacturing practices. However, marketers must be mindful of the industry’s challenges, including the skills gap, the need for continued investment, and the difficulties small businesses face. By doing so, marketers can help businesses succeed and contribute to the continued growth of the American manufacturing industry.