From Hidden Strengths to Market Leaders: A Blueprint for Manufacturers

November 15, 2024 | by Seth Getz with insights from Barry LaBov

Differentiation in the manufacturing sector often takes a backseat to the focus on quality and delivery. However, Barry LaBov, founder and president of LaBov Marketing, argues that it’s a game-changer for companies looking to thrive in competitive markets. In a recent conversation with Seth Getz of NuVescor, Barry shared his unique approach to helping manufacturers uncover and leverage their differentiators.

Why Differentiation Matters

Differentiation isn’t always top of mind for manufacturers. Many manufacturers believe their work speaks for itself, assuming that producing a quality product on time is enough. Barry challenges this mindset:

“So many of our manufacturing friends are engineers, and they want things done right. But they often assume people will just understand their brilliance,” Barry explains. “You’ve got to explain it—and celebrate it.”

Differentiation not only helps businesses stand out but also adds tangible value, especially during key transitions like preparing for sale or post-acquisition integration.

The Five-Step Differentiation Blueprint

Barry shared his proven five-step process, which helps manufacturers identify and amplify their unique strengths.

Brand Assessment

The process starts with listening to stakeholders—customers, employees, suppliers, and even former clients. It’s important to ask questions like, ‘What should we never change?’” Barry explains that it’s often those consistent strengths that define a company’s true differentiators.

“We learn what you’re doing well, what needs change, and most importantly, what must never change. Often, those core strengths are your true differentiators.”

2. Technical Immersion

The next step involves a deep dive into the company operations, exploring the plant floor to uncover unique processes and technologies. It’s important to talk to engineers and leaders, looking for what makes their work exceptional. Sometimes the engineers don’t even realize their work or skills are unique until an objective 3rd party observes it.

3. Recommendations and Jam Sessions

After identifying potential differentiators, next comes the manufacturing company needs to refine and prioritize them. Barry shares, “We have these jam sessions where we say, ‘Here’s what we found—what do you think?’ It’s about collaboration, not dictation.”

4. Execution

With clear differentiators in place, companies can craft targeted marketing strategies, from new websites to social media campaigns. Barry notes that execution becomes laser-focused once a company knows exactly what makes them unique.

5. Internal Launch and Celebration

The final step is the internal launch and involves engaging and aligning employees around the brand’s unique value. Barry stresses that the team needs to know they’re making a difference. That leadership celebrates their contributions and helps them see the impact of their work.

Differentiation During Key Business Transitions

Seth and Barry discussed two critical moments when differentiation is especially important:

Preparing for Sale: “If you don’t identify your differentiators, you’ll be sold based on financials alone,” Barry warns. “But with clear value drivers, potential buyers will see opportunities for growth, boosting your company’s marketability.”

Post-Acquisition Integration: Barry often works with private equity firms to identify and preserve value-adding features in newly acquired companies. “We guide the new team to engage employees, showing them they’re part of the future. It’s crucial to highlight what must stay the same and where untapped potential lies.”

Engaging Employees: The Secret Sauce

Throughout the conversation, Barry emphasized the role of employees in differentiation. He believes their engagement is critical to a company’s success:

“If employees feel their work is insignificant, why should they care about quality or customer service?” Barry asks. “You need to show them their work matters and is valued.”

By celebrating employee contributions, companies can foster a culture of pride and ownership, which, in turn, strengthens the brand.

Breaking Free from the “Best Kept Secret” Mentality

Some manufacturers pride themselves on being a “best-kept secret.” Barry sees this as a missed opportunity:

“If you’re still calling yourself a best kept secret after working with us for a year, fire us,” he jokes. “It’s not bragging if it’s the truth. Sharing your unique value helps customers and employees alike.”

Conclusion

Differentiation is more than a marketing buzzword—it’s a strategic tool that can transform manufacturing businesses. Whether preparing for a sale or navigating a post-acquisition landscape, uncovering and celebrating what makes your company unique can drive growth and success.

To learn more about Barry’s approach and access his free book, visit barrylabov.com. For personalized advice on maximizing your company’s value, connect with NuVescor today.