Tag Archive for: Manufacturing eCommerce Success

US Manufacturers Digitizing at Twice the Rate of Other Businesses

Alibaba.com, the B2B business unit of Alibaba Group, announced the results of its Alibaba.com U.S. B2B Small and Medium Business (SMB) Survey and launched a new Digitization Sprint for U.S. SMB manufacturers digitizing – a traditionally analog segment of SMBs that has been digitizing at twice the rate of other industries during the pandemic.

Following its inaugural survey, which was disseminated in January 2020, Alibaba.com conducted a second survey of 5,015 U.S. B2B SMBs with the following key findings:

  • SMBs accelerated their pivot to digital: 93% of B2B companies are now conducting some portion of their business online. Up from 90% in December, and 43% are utilizing ecommerce, an 8% increase over the same time period.
  • SMBs are finding opportunities internationally: even with supply chain disruptions during the pandemic. 63% of B2B companies report conducting some amount of cross border B2B trade, up from 59% in December.
  • SMB manufacturers surpassed other industries in digitization: amid the pandemic, manufacturers’ online B2B trade increased 8% – twice the rate of the overall 4% increase in all industries for the same period and tied with retail as the industries with the most digital growth. In December, U.S. manufacturers’ online B2B trade volume lagged all other industries except construction but have now passed multiple industries in their pivot to digital.

“We were happy to see the increasing digitization of US B2B companies and that many are increasing trade despite the pandemic, showing the resilience and grit of American business owners and entrepreneurs,” said John Caplan, President of North America and Europe of Alibaba.com. “Our research finds that digitization is no longer a nice-to-have, but a must-have for companies in every industry to bridge from surviving to thriving in the next era of business.”

Additional Highlights from the Alibaba.com U.S. B2B SMB Survey

SMBs are Optimistic in Their Business and Recovery

  • SMBs are optimistic about their business with 85% saying they are confident about the future of their business.
  • The majority of SMBs (62%) managed through the pandemic, maintaining or increasing their business when compared to 2019 levels.

Even More U.S. B2B SMBs Digitized During the Pandemic and Are Hiring to Support their Online Growth

  • 56% hired and retained new staff to support their e-commerce operations since the start of the pandemic. 79% plan to hire employees over the next year to support their increased online business.
  • 42% of respondents saw increases in online B2B transactions in the past six months. More than three-quarters (75%) finding increased demand for e-commerce marketplaces such as Alibaba.com.
  • Online B2B companies show far more confidence than offline: 86% of those doing business online expressing optimism in the future of their business compared with 68% of those who are not yet doing business online.

Digital Acceleration is Driving Global Business

  • Cross border business is increasing in importance for B2B companies. Making up an average of 25% of their business – an increase from 17% in December.
  • Respondents said key benefits of eCommerce include helping them access international markets (24%). Built-in translation services that help communicate with trading partners in different languages (16%).

SMB Manufacturers are Confident and Accelerating to Catch Up Digitally

  • Manufacturers over-indexed in investments in e-commerce during COVID-19: more than two-thirds (68%) of manufacturing businesses hired new staff to support online trade compared with 56% overall.

The Alibaba.com U.S. Small and Medium Business (SMB) Survey: Research Methodology

Alibaba.com commissioned leading global research firm, Ipsos, to conduct the second Alibaba.com U.S. B2B Small and Medium Business (SMB) Survey on behalf of Alibaba.com as a follow up to the December 2019 survey. The sample of 5,015 was collected using a double opt in online panel sample and conducted anonymously from September 4 – 20, 2020. The survey targeted decision-makers at U.S. companies that buy or sell physical goods and materials with other businesses. The study has an overall margin of error of ±1.39% at the 95% confidence level.

Additional data, analysis and insights from the second Alibaba.com U.S. SMB B2B Survey will be shared in future B2B Today content and events.

Alibaba.com’s Digitization Sprint for U.S. Manufacturers

According to IBISWorld, there are 565,537 manufacturing businesses in the U.S. According to SCORE, an organization focused on mentoring U.S. small businesses, 98.6% of American manufacturing companies are small businesses, and three-quarters (75.3%) of those businesses have fewer than 20 employees.

U.S. manufacturers are well known for their technologically advanced production capabilities. However, until recently, they have been slower than other industries to adopt online sourcing and selling tools according to Alibaba.com’s survey. With manufacturers now rapidly turning to digital channels, Alibaba.com is launching its Digitization Sprint for U.S. Manufacturers. With the tagline “Let’s Get Digital,” the program accelerates the digitization of these businesses’ online marketing, selling and sourcing and ensure their long-term success. Alibaba offers this program to qualified manufacturers at no cost. The Alibaba.com team is bringing together experts and their ecosystem of collaborators, including the Brooklyn Chamber of Commerce, Brooklyn Navy Yard and manufacturing e-commerce expert Curt Anderson, to give manufacturers digitizing a four-week masterclass in getting digital and going global.

Manufacturers Digitizing 

“We were delighted to see in our research that manufacturing businesses are catching on and looking for ways to ride new waves of digital opportunity,” said Caplan. “U.S. manufacturers have huge potential to grow their online business and emerge from this pandemic better positioned for the future. Our first-ever Digitization Sprint will give manufacturers the curriculum, coaching, and community they need to accelerate their digital skills and access the $23.9 trillion global B2B ecommerce opportunity.”

Through the program, select manufacturing companies will gain access to:

  • Curriculum from Alibaba.com’s team, industry leaders and partners on topics ranging from understanding the fundamentals of e-commerce like marketplace structure and pricing dynamics to learning tangible skills like leveraging digital advertising to generate leads, taking quality photos for product listings and digital storefronts and even leveraging social media to build their brand and reach new customers.
  • Coaching on succeeding in the digital economy during weekly modules and during tailored sessions from partners and experts in e-commerce for manufacturers like the Brooklyn Chamber of Commerce, Brooklyn Navy Yard and e-commerce consultant, Curt Anderson.
  • Community through a private LinkedIn group and roundtable discussions. Manufacturers digitizing with experts and peers for ongoing education and shared experience.

The inaugural Alibaba.com Digitization Sprint for U.S. Manufacturers will kick off in mid-November with limited spots available. Interested leaders at manufacturing companies with fewer than 500 employees can apply for their companies to join the initiative at alibaba.com/digitalsprint. 

Wrapping It Up

Finally, thank you for reading our blog post on Manufacturers Digitizing. 

For additional information, please check out these helpful posts below as you continue your eCommerce journey:

 

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Univ. of Nebraska MEP eCommerce Workshop Presented by B2Btail

The University of Nebraska MEP and B2Btail teamed up to present the “Manufacturing eCommerce Success” workshop which features Falconer Electronics as a case study. 

This exciting program takes place on November 5th at 10:00 est. 

Click here to register: Manufacturing eCommerce Success Workshop 

Nebraska MEP eCommerce Workshop 

Nebraska MEP

Sense of Urgency 

With a new sense of urgency for entrepreneurs to create a strong digital presence, please join us for a discussion on the necessary steps to implement an eCommerce strategy for your business including:

  • Receive an eCommerce checklist as well as additional resource guides 
  • Also Capturing 1st page rankings on Google 
  • Creating effective landing pages that convert into RFQ’s as well as sales
  • Targeting customers with Google Ads as well as Google Shopping
  • Taking advantage of online marketplaces including Amazon as well as Alibaba
  • In addition, explore a step by step eCommerce success story with Falconer Electronics

First, topics discussed during the eCommerce workshop include: 

  1. Make a Great First Webpression 
  2. Dominate Search 
  3. Get on the Offensive 

In addition we cover:

Other topics covered as well include: 

  • Let that dream customer – Soulmates make a buying decision on Friday night at midnight 
  • Scale Your Proprietary Process 
  • Configurator – Quotebuilder 
  • New customized product populates into the eCommerce store 

We also explore eCommerce Opportunities with Online Marketplaces including:  

In addition, the program features B2B Experts such as…

Related Article: US Manufacturers Digitizing at Twice the Rate of Other Businesses

Nebraska MEP Mission 

Nebraska MEP

Transforming Nebraska manufacturers through continuous improvement, innovation, sustainable practice as well as technology acceleration services.

Nebraska MEP is part of the National Institute of Standards and Technology’s Hollings Manufacturing Extension Partnership (MEP) program. Residing within the U.S. Department of Commerce, MEP was created in 1988 with the intent of enhancing the productivity as well as the technological performance of U.S. manufacturers. Today, the MEP program consists of 51 centers in every state as well as Puerto Rico with over 400 service locations as well as 1,300 technical experts working together to advance and strengthen U.S. manufacturing.

Nebraska MEP is headquartered on the University of Nebraska’s flagship campus in Lincoln. University service providers as well as facilities are split between the Lincoln and Omaha campuses. Additional staff are also housed in central Nebraska. 

Central Community College—with campuses in Grand Island, Hastings, as well as Columbus—services a 25-county region in central Nebraska which includes the manufacturing dense tri-cities. The Central Community College region, combined with the Lincoln as well as Omaha MSAs, represents 32 of Nebraska’s 93 counties and collectively account for nearly 70% of the state’s manufacturing base. 

The Nebraska Department of Economic Development (DED) is the lead economic development agency for the state. As the previous cooperative agreement holder with NIST, DED is uniquely positioned to augment Nebraska MEP’s efforts statewide. DED has six field offices across Nebraska in addition to their main office in Lincoln.

Wrapping It Up 

Finally, thank you for reading our blog post on Manufacturers Digitizing. 

For additional information, please check out these helpful posts below as you continue your eCommerce journey:

 

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Montana State University MEP Taps B2Btail for eCommerce Workshop

The Montana State University MEP teamed up with B2Btail.com to offer an exciting eCommerce virtual workshop for manufacturers which features examples of case studies to help you with your eCommerce journey.

This exciting program takes place on February 26th at 11:00 EST/9:00 MT 

Click here to register: Manufacturing eCommerce Success 

Sense of Urgency for Manufacturers 

With a new sense of urgency for entrepreneurs and manufacturers to create a strong digital presence, please join us for a discussion on the necessary steps to implement a highly effective eCommerce strategy for your business. In particular, we tackle how custom manufacturers can join the exploding eCommerce market.

  • Receive an eCommerce Checklist for manufacturers
  • Capturing 1st page rankings on Google
  • Creating effective landing pages that convert into RFQ’s as well as sales
  • Targeting customers with Google Ads as well as Google Shopping
  • Taking advantage of online marketplaces including Amazon as well as Alibaba
  • Explore a step by step eCommerce success story with Falconer Electronics as well as Voice Express 

First, topics discussed during the eCommerce workshop include: 

  1. Make a Great First Webpression 
  2. Dominate Search 
  3. Get on the Offensive 

In addition we cover:

Other topics covered as well include: 

  • Let that dream customer – Soulmates make a buying decision on Friday night at midnight 
  • Scale Your Proprietary Process 
  • Configurator – Quotebuilder 
  • New customized product populates into the eCommerce store 

We also explore eCommerce Opportunities with Online Marketplaces including:  

In addition, the program features B2B Experts such as…

About the Montana Manufacturing Extension Partnership 

The Montana Manufacturing Extension Partnership (MEP) Center is a statewide manufacturing outreach as well as assistance center staffed by full-time professionals with extensive experience in manufacturing and business in a variety of industries.  In particular, our mission is to grow Montana’s economy by helping manufacturers succeed.

We serve the manufacturers of Montana by helping them assess as well as improve their manufacturing operations, providing trainings and workforce development, and leveraging research and technological developments at Montana State University to keep manufacturing competitive in the state.

MMEC is housed in the the Norm Asbjornson College of Engineering at Montana State University in Bozeman, with remote offices in Billings, Missoula, Kalispell, as well as Great Falls. Furthermore, our expertise includes staff with decades of combined experience in manufacturing.

We are also part of the National Institute of Standards and Technology’s Manufacturing Extension Partnership (MEP) National Network. NIST is a non-regulatory agency of the U.S. Department of Commerce that promotes U.S. innovation as well as industrial competitiveness. MEP is a public-private partnership with centers in all 50 states aw well as Puerto Rico dedicated to serving small and medium-sized manufacturers.

MMEC has an advisory board that helps guide how we serve Montana’s manufacturers. We receive financial and program support from MSU, the State of Montana, the National Institute of Standards & Technology (NIST)Manufacturing Extension Partnership as well as other partners.

Wrapping It Up

Finally, thank you for reading & we wish you tremendous success with your blogging journey!

For additional information, please check out these helpful posts below as you continue your eCommerce journey:

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Carey Smith: How To Sell Your Company for $500 Million

Interested in learning how Carey Smith built his company from scratch only to sell it for $500 million?

Well, we have your back.

Join us for a fascinating discussion with Carey Smith on Friday – Jan 7th – at 1:32 EST: CLICK HERE

Check this out:

A career entrepreneur, Carey Smith founded Big Ass Fans in 1999 and served as its CEO, or Chief Big Ass as he preferred, for 18 years.

Under his guidance, Big Ass Fans grew an average of 30% a year, with offices across the globe.

The company made the Inc. 5000 list of fastest-growing private companies 11 consecutive years — a feat achieved by only 34 others — and expanded from industrial products to include a line of chic, silent commercial fans.

When Carey learned that a man in Malaysia had created a revolutionary design for a residential fan, he brought the man and the fan into the company and turned it into a $60 million division: Haiku Home.

And when he heard that his industrial fan customers needed better lights, he hired lighting engineers to build Big Ass Light.

While other companies made and lost their fortunes, Carey’s contrarian business practices and relentless pursuit of new markets and high-quality products led to sustained, rapid growth.

By 2017, Carey had grown the fan and light manufacturer to nearly $300 million in annual revenue and more than a thousand employees. And he’d done it without any outside investors.

Carey Smith: Sold His Company for $500 Million

Ready for a new challenge, he sold Big Ass Fans for $500 million.

Carey shared these thoughts about selling his company with Inc Magazine:

“At the end of the day, though I really cared for the business, it’s not my child. You always love the people, but fans are a product. We wanted to make sure the buyer didn’t simply open the doors and tell everybody to leave. But other than that, it’s like buying a stick of gum: It’s mine until you pay me for it–and then it’s yours.”

The company’s stock appreciation rights program paid out $50 million to more than 100 loyal employees. Those who shared Carey’s work ethic with 15 that became overnight millionaires.

Following the sale, Carey founded Unorthodox Ventures. This Austin-based investment company that seeks to provide everything venture capitalists lacked. Carey discovered this when they approached him near daily at Big Ass Fans.

Carey’s team consists of high level experts. All of who help founders become serial entrepreneurs.  In particular, by providing support for everything from engineering and marketing to customer service and logistics.

Learn more about Carey Smith at unorthodoxventures.com.

 

Check out our recent blog post: Niche Down Til it Hurts…So Good

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Birthplace of the Hamburger: Louis’ Lunch – Niching Down Since 1895

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Louis’ Lunch Established 1895 in New Haven, CT

If you have ever visited Yale University in New Haven, Connecticut, hopefully you stopped by Louis’ Lunch. 

Louis’ Lunch is a landmark that also serves as a perfect example of a business that practices “Niche Down til it Hurts So Good”. 

Since 1895, Louis’ Lunch in New Haven, CT has been serving a classic hamburger sandwich to customers from across the United States.

Family owned and operated by the 4th generation Lassen Family, Louis’ Lunch currently serves as one of the oldest, family-run businesses in the country.

Walking into this national treasure is like stepping back into the 19th century. 

The restaurant prides itself on staying true to the family history by continuing to preserve the past as well as serving future generations.

Recognized by the Liberty of Congress as the Birthplace of the Hamburger Sandwich, Louis’ Lunch has been featured in The Travel Channel, The Food Network, Zagat, Food and Wine Magazine, among many others.

The establishment is probably about 600 square feet and seats around 15 customers at a time. 

Two team members work behind the counter with no computer in sight. One person taking orders while the person cooks amazing burgers. 

If you find yourself indecisive and agonize over what to order at a restaurant, then this is the place for you. 

At Louis’ Lunch, you have minimal options.

This is due to the fact that Louis’ Lunch is committed to serving a classic hamburger. Made with a proprietary blend of five cuts of meat, ground fresh daily.

Dedicated to providing you an experience of the meat’s true flavor,  your hamburger is served on white toast.

In addition, Louis’ Lunch only offers cheese, onion, and tomato as garnishes. That’s it! 

Simple, Simple, Simple 

 

The Lassen family holds firm on their desire not to offer any condiments.

The Louis Lunch experience is about the taste and simplicity of a fresh burger grilled to perfection with cheese, onion and tomato as the only acceptable toppings.

In addition, you can order chips or potato salad and a drink to go with it.

Oh yeah, also a slice of pie for dessert.

Simple, simple, simple.

So talk about niching down till it hurts so good. 

They could offer bacon, pickles, and plenty of other toppings.

Watching the cooking process at Louis’ Lunch is absolutely fascinating. 

Burgers are cooked in the original vertical cast-iron grills dating all the way back to 1898.

I’m sure they could probably make a killer hot dog as well.

They could most likely make all sorts of other things.

But guess what?

They don’t.

They keep the process as simple as possible.

The business stands a couple blocks from Yale University and they know exactly who their customer is who their customer isn’t.

If you don’t like it, they honestly don’t care.

There is a sign on the wall that reads:

This is not BURGER KING 

You Don’t Get It Your Way. 

You Take It My Way Or You Don’t Get a Damn Thing. 

 

The Lassen family continues to serve the New Haven market fiercely focused on delivering you an amazing culinary experience.

Dating all the way back to 1895. 

Displaying how to profitably “Niche Down til it Hurts So Good” the entire time. 

 

 

 

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Circle the Bases with Your Soulmates (aka Your Ideal Customers)

Ready to Circle the Bases with Your Soulmates? 

Wait, what the heck does that mean? 

So glad you asked. 

Let’s dig in.  

By chance, are you a baseball fan? 

Good, same here! 

Ok, so now let’s circle the bases with your Soulmates (your ideal buyers).

How?

By placing your Soulmates/ideal customers into buckets on each base. 

Where to start? 

Picture a baseball diamond. 

Then start running the base paths and drop each particular Soulmate (Buyers) at each base. 

Who are you singles, doubles, triples and home runs?

Let’s take a look…

 

Related Article: Discover Your Soulmate: Yes, Those Ideal Buyers Are Waiting for You

 

Scoring Runs as You Circle the Bases 

 

Singles – Solid customers who you would take all day, every day. 

Having lots of singles in your lineup helps maintain a diverse customer list. 

Especially when you avoid relying too heavily on one particular customer or even a handful. 

Additionally, hitting a home run with every at bat is highly unlikely. 

However, hit over .300 (3 out of 10) and you are ending up in Cooperstown NY at the baseball Hall of Fame. 

Hitting for average plays perfectly into creating dynamic results for your long game. 

Additionally, a high batting average means you have built a stellar reputation as a clutch hitter. 

 

Doubles – How about those stand up doubles?

Hitting ground rule double is so rewarding.

A double means you are officially in “scoring position” when you land on 2nd base.

Sales from your doubles are significantly higher than your singles.

They are still relatively low maintenance.

Serving your “doubles” costs you virtually the same as your singles from an expense standpoint.

Therefore your doubles drive so much more to your profitability and success. 

In addition, those blessed doubles help you reach your goals so much quicker. 

Let’s say it together, “We Love the Doubles”!! 

 

Triples – To hit a triple, you need to hit the ball deep in the gap. Get a lucky bounce off the wall. Then run like hell.  It’s an absolute thrill when you make it to 3rd. 

Especially when diving head first, safely.  

Phew! That was exhausting.

You jump up to High five the 3rd base coach. Then you start wiping off all of the dirt on your uniform trying to catch your breath. 

Hoping someone can bring you home.

Lots of time, energy and hard work involved involved with landing a triple. 

Doesn’t happen often but certainly exciting and exhilarating when you find yourself standing on 3rd with a customer. 

 

Home Runs – Everyone LOVES a home run.

Brings the crowd to their feet.

You stand at the plate after a sweet swing admiring the shot flying out of the park.

You round the bases as the fans go wild.

The competition looks at you in disgust.

The opposing pitcher kicks the dirt and curses you out.

Your team greets you at the plate with hugs & high-fives. 

However, the crowd just sees the final result.

People don’t realize all of the hours at the gym hitting the weight room.

The hours of batting practice and thousands of swings that it took to hit that one particular home run.

How about the dozens of strike outs, pop ups and ground outs behind each home run? 

Tons of blood, sweat as well as tears. 

In business, this equates to all of the unanswered emails and ignored phone calls that led to the home run customer. 

Yet, as the ball clears the fence (contract is signed, order is complete, credit card is processed) it’s time to celebrate.

Embrace the victory. 

Running Home as You Circle the Bases 

Awesome job! 

All of your hard work is paying off. 

Treating your business as a baseball game helps simplify the process. 

Breaking customers into these buckets allows you to visualize each type of customer. 

Now you can focus on the amount of time, energy and strategies required to attract and nurture each type of customer. 

Most importantly, it’s time to Play Ball!! 

 

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What If the “WHAT IF” Syndrome Kicks in?

A question to consider, What if the What If Syndrome kicks in? 

It’s tough to making a path when facing multiple options. Especially with those big life decisions. The “WHAT IF” Syndrome kicks in.

What is the “WHAT IF” Syndrome? 

So glad you asked. 

WHAT IF…

…I pick the wrong college? 

…end up dating the wrong person? 

…I select the wrong career? 

…Wear white after Labor Day? (just asking for a friend) 

In business, the “WHAT IF” Syndrome might look something like…

WHAT IF…

…I hire the wrong person? 

…Carry the wrong product? 

…Partner with the wrong person? 

…Offer the wrong product or service? 

…Buy too much product? Too little? 

…Sign the wrong lease? 

…Hire the wrong accountant or attorney? 

…Sell sushi to help diversify our pizza shop? 

Offering TOO MANY products and services that are too diverse will lead to trouble. 

Yet, picking a clear path or selecting the right cause is tough. 

FOMO kicks in. UGH!!! 

That’s right! 

The dreaded Fear of Missing Out on the party. 

Then the “WHAT IF” Syndrome becomes ISHOULDHAVEITIS. 

That darn phrase “I Should Have…” 

I Should have bought Amazon, Apple and Netflix stock in 2002. 

I Should have bet the house, the farm, the dog, my watch, my coveted 8 track collection (Google it) and every other possession I own on Bitcoin. 

Oh, the humanity. 

So many choices. 

So little time. 

Conquering the “WHAT IF” Syndrome 

what if syndrome

How on earth do we know when or if we are making the right decisions? 

We don’t. 

That’s what makes life SO MUCH fun and exciting. 

Making the right decision and picking the correct path can mean the difference between building the largest eCommerce business on the planet vs not building the largest eCommerce business on the planet. 

What am I talking about here? 

Let’s take a look. 

Jeff Bezos and I both launched an eCommerce business the exact same year. 

Somewhere along the way Jeff and I both took drastically different paths. 

Jeff Bezos had incredible vision as well as placed insanely wild bets on his business. 

I am typing this up in my pajamas, in my 200 square foot basement on my MacBook Air.

Something tells me Jeff Bezos is not hanging out in his 200 square foot basement wearing his pajamas. 

Well, maybe he is…

Anyway, we just simply do not know how the story is going to play out. 

Think of your all-time favorite movie. Did you just say the title out loud? 

WHAT IF you knew the ending beforehand? BORING! 

That’s why we get so mad at someone when they tell us the end of an amazing movie or book before we have watched or read it. 

“DON’T TELL ME WHAT HAPPENS!!” 

We long for the end.

Sitting on the edge of our seats. 

The Thrill of Hope. 

In business, our Thrill of Hope falls on the knowledge, smarts, gumption, insight, as well as gut instinct to make the accurate choices. 

Bottom line: Go with you gut.  Stay focused and give it everything you’ve got! 

You Bet on You. 

Just think, WHAT IF you succeed beyond your wildest dreams? 

 

Wrapping It Up 

Lastly, thanks for stopping by. 

Check out these additional articles to help you on your entrepreneurial journey: 

Niche Down Til it Hurts…So Good

Ladies & Gentlemen, It’s All About the Right Knee Guys & Gals

 

 

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