NEWS RELEASE May 2021
Content Marketing Relies on Detailed and Accurate Forecasts
Companies are moving away from fluffy promotion and instead emphasizing Content Marketing. “This is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience — and, ultimately, to drive profitable customer action” says the Content Marketing Institute.
Suppliers are using every tool in the box
Valuable is most precisely defined by cost of ownership and the goal to show that a product has the lowest total cost of ownership (LTCO).
Relevant means that the LTCO will be achieved for the specific customer need.
Profitable customer action means more than just revenues but maximizing profits.
All of this presupposes a great deal of knowledge acquired by the supplier and communicated to the purchasers. In essence the goal is an Industrial Internet of Wisdom.
This IIoW determines and communicates the LTCO in each segment of the Most Profitable Market (MPM).
This is a cyclical process where the supplier has to determine the likely segments of the MPM. This need transforms market research from just one of the many inputs in decision making to the foundation. It means that forecasts have to be detailed enough to correctly allocate the Content Marketing funds.
To meet this need McIlvaine has created hundreds of millions of air and water flow and treat forecasts with the following level of detail.
Critical service will generally be more profitable than general service. So this segmentation appears in pump and valve forecasts.
If the supplier is deciding which local conferences warrant speakers or exhibition stands then further segmentation by state or province is desirable. To create the most valuable and relevant content at the local conference the investment will be larger than when the effort is mainly to “show the flag”.
The McIlvaine Company depends on the cycle to determine the MPM. It needs the IIoW and resultant LTCO to keep revising the MPM as the cycle continues.
McIlvaine market reports are linked at the top of the home page www.mcilvainecompany.com