Nearly half of all S&P 500 firms are expected to be replaced over the next 10 years due to digital disruptors and this transformation by advanced technologies is extending into manufacturing and reshaping the sector.
In “Industry 4.0 engages customers,” Deloitte explores how manufacturers can leverage the upcoming wave of industrialization to improve the customer experience and create new opportunities for innovation and growth.
Key insights on how digital technologies can create the most value for manufacturers include:
- Selling better and selling more – 90% of B2B buyers now use online resources to research industrial products so digital platforms like artificial intelligence (AI) and augmented/virtual reality (AR/VR) solutions can address some of the more common initial questions earlier in the sales cycle while freeing resources to focus on closing sales.
- Improving relationships with channel partners – Partner relationship management (PRM) platforms can provide real-time supply chain information and help improve communications with channel partners, who often own relationships with the end customer.
- Transforming the aftermarket experience – Nearly 50 percent of consumers needing repairs face delays due to coordination difficulties between manufacturers and aftermarket services, but analytics-driven insights – like maintenance requirements for individual fleet assets – can solve these issues and add value for customers willing to pay for an integrated product offering.