Industrial Marketers Ready to Promote New Products

Firms operating in the industrial sector are hoping for a solid expansion in 2010. And one way to increase sales will be to launch new products such as motors, tools, gaskets and machinery. The results of the new Grant Marketing survey reveal that over 90% of  industrial firms will be introducing new or improved products this year. Along with the product launches, these companies will also boost advertising expenditures.

Industrial operators will use the following promotional strategies:

  • E‑mail 88.9%
  • Website 85.2%
  • Press release 77.8%
  • New brochure/​catalog 74.1%
  • Trade shows 70.4%
  • Magazine advertising 51.9%
  • Social media 44.4%
  • Direct mail 37%

The media mix used for new product introduction differs slightly from the regular promotional strategy. Typically, industrial marketers say their top 3 strategies are:

  • E‑mail 86.7%
  • Catalog/​brochure 80%
  • Trade shows 80%

The survey also found that most decision makers in the industrial sector are turning to online webinars as a source of important information. This finding correlates with statistics that appeared in the Unisfair report I blogged about earlier this week – more business leaders are turning to virtual events.

Overall, Grant Marketing analysts note that “the process of buying and specifying has not changed; it is only the means and media that have changed.” As with many other sectors, the industrials are moving online.

[Source: Grant, Bob. Industry Marketing in 2010 and How to Market Smart. GrantMarketing​.com. May 2010. Web. 18 Jun. 2010] 
Kathy Crosett
Kathy is the Vice President of Research for SalesFuel. She holds a Masters in Business Administration from the University of Vermont and oversees a staff of researchers, writers and content providers for SalesFuel. Previously, she was co-​owner of several small businesses in the health care services sector.