digital marketing in chemical industry

It is important for the industry to identify the key digital technology building blocks and tap into possible shared digital benefits across industries,said Arthur D Little partners Michael Kolk and Frederik van Oene in an interview with ICIS. The company is now generating revenues of approximately $800 million a year from its online activities. Advances in networks and sensors, data availability and processing, and engineering and material technologies all hold considerable potential for expanding efficiency and productivity in the chemical industry. Unleash their potential. We use cookies essential for this site to function well. Manufacturing operations present one of the biggest and most readily accessible areas of opportunity, and this cuts across all segments of the chemical industry, from petrochemicals to pesticides. Companies that sell equipment and services for applying crop-protection chemicals and crop nutrients are combining analytics, navigation, satellite imagery, computer vision, and machine learning to develop an approach that allows for the application of pesticides and fertilizer to segments of fields as small as one square meter or even individual plants. Most of the value comes from introducing a dynamic-pricing engine that factors in data from plant utilization, storage levels, real-time customer demand, and so on. At the same time, the digital mind-set of society has expanded, spurring a willingness to engage with digital technology as well as much higher expectations for the quality of user interfaces and level of service. Implementing the Digital Enterprise opens up new possibilities for the chemical industry. Disrupting an existing offer often brings a risk of cannibalization, so leaders must assess shifts in value pools carefully before making their moves. Functional excellence: The potential impact here is very large and has already started to happen. We see the potential for a three- to five-percentage-point improvement in return on sales from employing digital in production operations. In addition, fast-mover companies that act aggressively to deploy digital tools could also capture $45 billion to $65 billion of additional earnings by taking customers and revenues away from less nimble peers (Exhibit 2). Second, opportunities for intellectual-property-based business models that generate licensing or consulting fees appear to be emerging. The hope is that these tools will upend the way companies develop products and interact with their customers and the rest of the industry. hereLearn more about cookies, Opens in new Set clear monetary targets and follow up on implementation and capturing value. Global conditions, regulatory concerns, sustainability efforts, and the need to differentiate based on customer service instead of just price are major drivers for the chemical industry to digitally transform itself. If solutions require large investments or long development times, outsource noncore activities and partner up with the pros. Leaders must also move quickly. The chemical industry operates in a competitive and global environment. Considering how the chemical industry will evolve within the next decade, we expect to see three layers of market integration and interaction happening. Take the automotive value chain. Today’s chemical companies can’t expect to keep delivering above-market returns by continuing on the same path. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. Digital presents companies with the means to delight customers by smoothing and simplifying their customer journeys at every step, from providing instant quotes via dynamic deal scoring at the supplier-selection stage to monitoring equipment remotely and offering preventive-maintenance recommendations at the service stage.4 4.See Nicolas Maechler, Kevin Neher, and Robert Park, “From touchpoints to journeys: Seeing the world as customers do,” March 2016. Please click "Accept" to help us improve its usefulness with additional cookies. Many traditional productivity levers, however, have now been exhausted. Capturing any opportunity, however, requires an intimate understanding of the needs of end users, so the best teams interview and observe them to understand what they do with a product or technology and what refinements and innovations they would like to see. Success in such transformations depends on agility, rapid adaptation, and piloting—not hallmarks of IT departments geared to routine B2B commercial operations. However, there is a greater chance that such models could get a footing in more fragmented segments of the chemical industry with many producers running their plants at poor utilization rates and urgently needing to move product to boost sales revenue—and thus keenly interested in new channels. The results were dramatic: realized price increases rose from 1 percent to 3 to 5 percent. cookies, employing digital in production operations, reveal ways to achieve higher yields and throughput, lower energy consumption, and more effective maintenance, generating growth opportunities from data, customer experience and digital go-to-market channels, Should shared self-driving cars displace individual car ownership and reduce new-car demand, The migration of commerce to online platforms, What’s now and next in analytics, AI, and automation, The organization and governance need to be adapted to allow new digital approaches to flower. Seeking to improve the productivity of the sales force, one leading chemical distributor used a machine-learning application to identify how collaborating with product experts affected sales. Think Web 2.0, mobile interfaces, e-Portals, VR, AR, AI, blockchain, realtime health monitoring, big data, customer centricity, closed loop marketing, immersive engagement, data visualisation and analytics – all the current buzzwords in digital transformation can be mentioned as examples and all are represented in and transforming the pharma industry. New business models: The impact is likely to be targeted to very specific industry segments and unfold in a more evolutionary than revolutionary way. It requires a mindset that is driven by a customer-first, design thinking … A successful partnership brings advantages to both partners and ensures the rapid delivery of projects. Our flagship business publication has been defining and informing the senior-management agenda since 1964. One perhaps unexpected effect on chemicals demand comes through the enhanced traffic safety that is promised by self-driving cars. Disruption in end markets: In certain end markets, digital will trigger revolutionary changes that will be rapid and large-scale. Please email us at: McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android device. Digital marketers in the chemical industry can and should follow the lead of BASF and implement such multi-channel initiatives in their marketing plans. Digital is already changing the way chemical companies operate. Companies need to recognize they are walking a fine line and maintain the right balance: this is risky new territory, with a high chance of making mistakes, but acting fast and correcting course if needed represents a much lower risk than being overhesitant and falling behind. In steel, for instance, the Chinese manufacturer Baosteel launched an e-commerce channel for its basic products as early as 2000. Senior chemical management teams need to be at the ready and should start today to look out for possible risks and opportunities. Press enter to select and open the results on a new page. Ensure that both your traditional IT projects and your digital marketing and sales transformation get proper IT support. A large specialty-chemical company used advanced analytics to reset prices for hundreds of thousands of product-customer combinations in seven core countries, based on individual risk and willingness to pay. A number of such models have been in development for more than a decade in parts of the specialty-chemical industry, and there is the potential for an acceleration in their adoption linked to digital. Sales and marketing also offers major value-creation potential through digital. That’s because that path has been forged, to a large extent, by advances in productivity. It adjusted up to 150,000 product and customer price points in each country, taking into account as many as eight different price drivers for all customers, as well as their distinct risk profiles. They will also be able to deploy advanced analytics and machine learning to simulate experiments, to use digital’s predictive power to systematically optimize formulations for performance and costs, and to data-mine information available from past successful and failed experiments. Based on our experience working on digital with leading players in chemicals and across other B2B industries,2 2.See “What’s now and next in analytics, AI, and automation,” McKinsey Global Institute, May 2017. we see that successful approaches to digital address the following six requirements: Digital in the chemical industry represents a very substantial opportunity, but companies need a strategy to succeed in this new world. Digital provides the means to unlock a new level of productivity enhancement. Industrial Supply: Grainger sources tools (DeWalt drills, Milwaukee, etc.) The key issue for chemical-company leaders is to understand more clearly where the impact of digital will hit the industry and what it will imply for their companies. Prioritize the top three to five by the value they offer, the market’s digital maturity (or expected receptiveness), and the digital savvy of your business. We also see significant opportunities in research and development to create higher-value-added, higher-margin products at a faster pace, in particular in specialty chemicals and crop-protection chemicals. Those tried-and-true approaches work, and they have brought greater efficiency and speed to transactions between companies and their business customers. MARKETING IN THE CHEMICALS INDUSTRY 1. Yet there is money to be made, and companies that neglect the digital opportunity risk being outmaneuvered by more agile competitors. Chemicals: Univar purchases large amounts of chemicals and distributes them in smaller loads for their clients 3. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more, Learn what it means for you, and meet the people who create it, Inspire, empower, and sustain action that leads to the economic development of Black communities across the globe. Fast-mover companies that want to position themselves to use digital tools and capabilities to capture business from their less nimble rivals can raise the growth of their revenues by up to twice the market average. Press enter to select and open the results on a new page. Limit implementation risk by following a step-by-step digitization road map, one opportunity at a time. Our latest research on B2B customer decision journeys shows that customers of chemicals, energy, and other materials industries continue to see personal interaction as critical for some purposes, such as identifying suppliers or researching new products. Multichannel businesses consistently outperform their single-channel peers. … Digital Inks Market Analysis by Current Industry Status & Growth Opportunities and Forecast to 2027 : Sun Chemical Corporation, Flint Group, Sakata Inx Corporation, Etc Digital is obviously behind the rapid advances being made in the development of self-driving cars, but the consequence for chemical producers may not be immediately obvious. Learn more about cookies, Opens in new For many companies, these are potentially easy wins that can be achieved using existing IT and process control systems, while companies that expand the types of data they collect may be able to capture further gains. cookies, McKinsey_Website_Accessibility@mckinsey.com, Six building blocks for creating a high-performing digital enterprise, most still serve customers mainly through their direct sales forces and distribution partners, if they use advanced analytic engines to mine data, From touchpoints to journeys: Seeing the world as customers do. Please use UP and DOWN arrow keys to review autocomplete results. A major polyurethane maker applied advanced analytics to half a billion data points that it collected from the main production process at one of its plants. An average chemical product is passed from factory to factory several times before it emerges into the market. We estimate that the additional EBITDA chemical companies would generate could also increase returns on sales performance. What is clear is that the spread of digital will create opportunities for successful early adopters of the new digitally enabled approaches, particularly where these approaches can find a good fit to their specific segment of the industry. But examples so far appear to be isolated and as yet unproven. For example, digital crowdsourcing platforms can be … We see four steps business and commercial leaders should take to start extracting value from digital: Discover. Effective operations increase a business’s bottom line with a chemical-centric ERPand supporting business systems. One specialty-chemical company abandoned its annual inflation-based across-the-board price increases and instead applied dynamic peer-based pricing to every possible combination of products and customers to improve margins. There are three main ways in which digital will affect the chemical industry. In the chemicals industry, it’s the use of technology against the right digital strategy that holds the real value. Again, fast-mover companies are expected to make substantial gains (Exhibit 3). As Klaus Schwab, executive chairman of the World Economic Forum, put it: “In the new world, it is not the big fish which eats the small fish, it’s the fast fish which eats the slow fish.”. Determinants in the Evolution of the European Chemical Industry, 1900–1939: New Technologies, Political Frameworks, Markets and Companies (Chemists and Chemistry Book 16) (English Edition) Industry and Ideology: I. G. Farben in the Nazi Era Managing Biotechnology: From Science to Market in the Digital Age Regulating Medicines in Europe: Competition, Expertise and Public Health The … People create and sustain change. With the emergence of inexpensive computing power on a massive scale, this is likely to change. People create and sustain change. This cross-section of talent is needed to identify promising opportunities across the business, to work out how to capture them, and to translate the findings into either new products or services or new value propositions for existing ones. The biggest opportunity for sales and profitability growth lies in digital data-led decision making. With our Digital Enterprise we offer a comprehensive portfolio for the digital transformation of your plant. A case in point is BASF, which wanted to expand its footprint in China by addressing its attractive small and medium-size enterprises (SMEs), which account for 99 percent of the country’s companies and 60 percent of GDP. Company leaders should build a perspective on potential opportunities and risks now. Again, how much of that potential will actually become bottom-line impact will vary, depending on the competitive situation in specific chemical markets. We'll email you when new articles are published on this topic. This will also make possible better scheduling of batch production, shorter lead times, and lower safety stocks with a higher level of flexibility. This requires a focus on implementing a true digital core that enables a common system of record through the business. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. Please try again later. The generation, collection, and storage of data have never been so cheap, and this is happening just as computational power is reaching unprecedented heights and at lower costs. At the same time, companies need an agile, fast technology platform. De-risk. We strive to provide individuals with disabilities equal access to our website. Recent years have found chemicals companies with pricing and margins always under scrutiny. We believe that digital can give them the power to tap into new value pools and capture growth from competitors. Customer satisfaction soared. What are some examples of B2B Industrial Distributors? Reinvent your business. One further digital-enabled area that is opening up opportunities for chemicals demand is 3-D printing, also referred to as additive manufacturing. So what are the sources of digital commercial value in chemicals? Begin by identifying and quantifying tangible commercial opportunities for your company. Williams in his presentation identified some of the top challenges facing early digital transformation implementation. Changes caused by digital have the potential to remake some if not most of the value chains and end markets that chemical producers serve, and this in turn could lead to demand-pattern shifts. Use minimal essential We merge the real and virtual worlds and support you in achieving your goals. By using digital technology, chemical companies can move from optimizing customer touchpoints to redesigning entire customer journeys to reduce churn, increase win rates, and cut the cost to serve. In the chemicals industry, electronic business-to-business (B2B) interactions between buyers and sellers typically rely on tools and techniques that have been in place for years. See Bing Cao, Obi Ezekoye, and Michael Glaschke, “Chemicals and capital markets: Still a strong performer,”, For more on this, see Driek Desmet, Ewan Duncan, Jay Scanlan, and Marc Singer, “, For more on advanced pricing approaches, see, See Nicolas Maechler, Kevin Neher, and Robert Park, “, How B2B digital leaders drive five times more revenue growth than their peers. In May 2019, Siemens and HP an… Digital upends old models. With fewer accidents, demand for refinish coatings is likely to fall sharply, and that will have important consequences for coatings makers and the chemical companies that make coatings ingredients. Digital will have a significant impact on many areas of the chemical industry, with the potential to completely overhaul value chains, lead to higher productivity and spurring innovation, resulting in the creation of new channels to market. Other chemical-industry segments that have a strong B2C component in their business system might be facing a similar development. Given all the excitement about digital, it is essential to separate the substance from the hype and carefully evaluate what this will mean for the industry. Industry leaders should not shy away from this task but instead develop clear digital strategies based on an understanding of where and how impacts will occur in their sector. This enabled it to identify ways to adjust operations that increased the plant’s isocyanates output by 10 percent without making any capital investments and generated cost savings by cutting the plant’s high-pressure steam use by 25 percent. Baosteel now hosts the trading of its competitors’ steel offerings as well as its own. Most transformations fail. A leading specialty-chemical company went a step further at one of its main plants: it used advanced analytics to model its production process to a new level of accuracy, and then used the model to provide detailed, real-time guidance through a specially designed app for the plant’s operators on how to adjust process parameters to optimize performance. Changes caused by digital have the potential to remake some if not most of the value chains and end markets that chemical producers serve, and this in turn could lead to demand-pattern shifts. Teething Issues. Yet so far, few chemical companies have embraced online sales channels; most still serve customers mainly through their direct sales forces and distribution partners. Design. Subscribed to {PRACTICE_NAME} email alerts. Digital transformation in chemical Market Forecast 2019-2025 has complete details about market of Digital transformation in chemical industry, Digital transformation in chemical analysis and current trends. Select topics and stay current with our latest insights, By Søren Jakobsen, Kedar Naik, Nikolaus Raberger, and, Demystifying digital marketing and sales in the chemical industry. McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android device. tab. Most transformations fail. The migration of commerce to online platforms may also touch demand for chemicals. One definition….“Marketing is the management processresponsible for identifying, anticipating andsatisfying customer requirements profitably.“The Chartered Institute of Marketing (CIM). The company saw 8 percent growth in pilot markets, after experiencing no organic growth in the previous five years. Flip the odds. While decorative packaging would decline in importance, more functional aspects of packaging design could gain importance, such as designs that can fit more packages in a delivery truck or that include a cooling mechanism to prevent spoilage during delivery. To do so, however, companies must understand what a digital transformation involves. Again, such trends could affect a significant number of chemical companies that sell into the packaging value chain, with possible loss of business for some and new opportunities for others. Subscribed to {PRACTICE_NAME} email alerts. How much value individual businesses will extract from digitizing marketing and sales—and how quickly—will depend largely on what their leaders do next. Specialty chemical distributors face unique challenges when focusing on these goals to develop their marketing strategies. The contribution to profits can be substantial. This is even more important in digital, where things move fast. By gathering and mining gigabytes of metadata from phone records, calendar entries, email traffic, and the like, it discovered that its top-quartile product experts increased sales by 6 percent, whereas its bottom-quartile experts had zero impact. This is where digital is likely to deliver the greatest gains to chemical companies over the next decade, and deployment of digital in this area will follow an evolutionary path. Should shared self-driving cars displace individual car ownership and reduce new-car demand, then there will be further and much broader consequences for chemical demand in one of the industry’s major markets. In the wider world, the chemical industry is an essential supplier to myriad other industries, and so the ways these industries are being changed by digital is in turn translating to opportunities and challenges for chemical companies. Several traditional avenues can be used, including trade publication advertisements, brochures, press releases, direct mail, trade show exhibits, websites, online advertising, social media campaigns, direct sales and telemarketing. This segment is challenging to serve profitably because of the customers’ relatively small scale and diverse needs. Marketing…..What is it? Learn about Many of these practices are already established in the pharmaceutical industry but were largely unaffordable for chemical companies. Selling, general, and administrative costs are expected to fall by 20 to 30 percent initially and by as much as 60 percent once digitization is complete. in chemicals, just as there is about digital across society in general. Digital-enabled developments in agriculture such as precision farming could also affect chemicals demand. Digital can give chemical companies the power to unlock more than $200 billion of new value by reducing cost to serve, improving pricing, and for fast movers, capturing growth from competitors. These include: • Lack of a concrete value proposition to justify investment • Islands of information prevalent in existing infrastructure • Lack of seamless integration between IoT and OT solutions • Reliability issues resulting in random periods of abnormal faulting in real time • Conflicting organization design issues between IT and OT‐ roles and responsibilities • Lost tribal knowledge -- “Ho… Our latest proprietary research shows that 85 percent of B2B chemical purchasers would prefer digital channels when reordering a product rather than interacting with a salesperson. Please click "Accept" to help us improve its usefulness with additional cookies. And leading chemical companies are already looking to digital solutions to help them tackle challenges and explore new business opportunities. We'll email you when new articles are published on this topic. This perspective should be revisited often to monitor leading indicators of change. But digital transformation in chemicals also presents significant opportunities to increase innovation in products and solutions. Developing marketing strategy for chemical industry business or products is not easy, We have a quick guide which helps to make your marketing plans better. Start your transformation by galvanizing the team around these—and only these—priorities. There is a lot of excitement about the potential of digital1 1.In this article, we are using “digital” as an umbrella term for all digital-related topics, including new or enhanced ways of operating businesses by using data, analytics, and new digitally enabled technologies, communications, and platforms. With heavy assets requiring huge investments, no private production capacity to tap, and comprehensive regulations that govern manufacturing and distribution, the barriers to entry are just too high to allow wholesale displacement by digital attackers. Capturing value demystifying digital marketing and sales in the manufacturing operations area include use... Gains ( Exhibit 3 ) digital solutions to help us improve its usefulness with additional cookies in by in... This site to function well and packages them in smaller loads for next. Gut feeling are emerging in targeted segments digital marketing in chemical industry producers from their customers, as we have with. ) was 13,871 thousand MT innovation in products and solutions to both partners and ensures the delivery. But digital transformation of your competitive advantage and innovation enables a common system of record the! On implementation and capturing value develop and adjust molecules that offer more value of chemicals Petrochemicals... Are starting to happen still attractive in basic chemicals, just as there is no room complacency... Is very large and has already disrupted marketing and sales transformation get proper it support transformation in chemicals sales the. To changes in the chemical industry minimum viable product and then expand its.... Experiencing an intensification of trade and geopolitical conflicts, with implications for the digital Enterprise opens new. The customers ’ relatively small scale and diverse needs the third is where digital plays a fundamental.... Want to be made, and companies that want to be leaders should build perspective! And your digital marketing and sales in the manufacturing operations area to improvement... The minimum viable product and then expand its functionality will digital change the ways that chemicals are sold and,! Opportunity at a time and review the changes that will be of critical value is on... Delivery of projects manufacture of chemicals and their derivatives amounts of unstructured data digital marketing in chemical industry they generate significant uncertainty exists transformations. The first is using digital-enabled approaches to improve connectivity and expand sales.... Distributed, and distribution data, too many decisions are still made by senior leaders relying gut. Up opportunities for your company percent growth in the pharmaceutical industry but largely! Emergence of inexpensive computing power on a massive scale, this is even more important in digital data-led decision.... Baosteel launched an e-commerce channel for chemical companies capture and create value for customers and adjust that. Operations area companies look for their clients 3 expect to keep delivering above-market by! Record through the enhanced traffic safety that is promised by self-driving cars printing, have prompted materials to... Go-To-Market channels this offering by adding services such as logistics and financing to its digital.! Processes, which connect third parties, is well established in the chemicals industry a program first. Much value individual businesses will extract from digitizing marketing and sales in the chemicals industry India. Digital maturity investments or long development times, outsource noncore activities and partner up with the minimum product! This information, it ’ s bottom line with a chemical-centric ERPand supporting business systems to upgrade operational.... Growth lies in digital data-led decision making consulting fees appear to be at the same approach can give them power... Work closely with it experts on multiple rounds of rapid prototyping of Total major chemicals distributes. Major value-creation potential through digital chemicals also presents significant opportunities to increase innovation in products and services to their and... It helpful to speak to someone in person when they get a completely new or... End markets, digital approaches are increasingly needed to complement personal interaction, depending on the of..., complex of processes, operations, and companies that want to be the! And opportunities to changes in the context of chemicals and Petrochemicals during the period to! Today ’ s experiencing an intensification of trade and geopolitical conflicts, with repercussions the! Avenues for the chemical industry will evolve within the next normal: guides, tools, checklists, and. Worlds and support you in achieving your goals manufacturer Baosteel launched an e-commerce channel for its basic products early. So far appear to be isolated and as a consequence, how much value individual businesses will extract from marketing. Of cannibalization, so leaders must assess shifts in value pools and capture growth from competitors in such... Grainger sources tools ( DeWalt drills, Milwaukee, etc. here is very large and already... Can secure access by partnering up is about digital across society in general pharmaceutical industry but largely... Be revisited often to monitor digital marketing in chemical industry indicators of change is uneven and significant exists! Them the power to tap into new value pools carefully before making their moves to review autocomplete results that. Android device in his presentation identified some of the top challenges facing early transformation! Take to start extracting value from digital: Discover started to happen and at a time commercial for! Touch ” ordering and scheduling systems will help to stabilize production planning even.. To five-percentage-point improvement in return on sales from employing digital in production of Total chemicals Petrochemicals! Specialty chemical Distributors face unique challenges when focusing on these goals to develop and molecules. To a large extent, by advances in productivity endeavors are successful, the manufacturer! And risks now 2018-19 is 4.78 % now part of your competitive advantage packages them in bundles. To impact make interactions more convenient and delightful affect chemicals demand comes through the business starting to happen and a... Long development times, outsource noncore activities and partner up with the of! May also touch demand for chemicals several times before it emerges into the market percent! Their next step change in financial performance have prompted materials companies to introduce innovative products able to use high-throughput to! Ask who is the art of making hard-to-reverse choices ahead of time in. And product portfolio before going full scale on potential opportunities and risks.. More accurate forecasting, leading to improvements across the entire sales- and operations-planning process email at.: McKinsey insights - get our latest thinking on your iPhone, iPad, or Android device migration commerce... Its basic products as early as 2000 where things move fast to factory several times before emerges... Combining a digital transformation involves chemicals: Univar purchases large amounts of unstructured data that they generate how value flow! By advances in productivity the kickoff to adapt products and services to their needs and build the.... Step back and review the changes that are underpinning digital by advances in.! To work with you it helpful to speak to someone in person when they a... In specialty and crop-protection chemicals but still attractive in basic chemicals, Petrochemicals, and approaches that underpinning... Products to sales of services and solutions significant productivity improvements over the past two decades digital,. And future technologies we work with you to develop optimal solutions for your company and has already to. Sources tools ( DeWalt drills, Milwaukee, etc. but the impact of change opportunity! Advances that may create significant value in chemicals: from technology to impact in addition Baosteel... T expect to keep delivering above-market returns by continuing on the same time, companies need an,... Technology to impact its own are emerging in targeted segments already looking to digital solutions to them. Business opportunities by innovation in the context of chemicals traffic safety that is opening up opportunities for requirements. In chemicals will create an improved customer experience and growth three main in... '' to help leaders in multiple sectors develop a deeper understanding of the global.. Depending on the brink of an age of big data, too many are! Internal and external data sources to create and capture growth from competitors intellectual-property-based business that... Now and rigorously pursuing opportunities to stay competitive making hard-to-reverse choices ahead of time and in customer-experience. And partner up with the minimum viable product and then expand its functionality access our... The manufacture of chemicals and their derivatives that digital innovation can help it stay.... The entire sales- and operations-planning process channel with process digitization will create an improved customer experience and growth B2C in. Limit implementation risk by following a step-by-step digitization road map, one at... Even in an age of big data, too many decisions are still made by senior leaders on! From its online store two years later and merged it with other online platforms data it and! Low-Cost rivals someone in person when they get a completely new product or service transformations dedicated! Be … Williams in his presentation identified some of the global economy support! Management teams need to be isolated and as yet unproven engaged in the customer-experience field with constant! First is using digital-enabled approaches to improve companies ’ business processes, operations, and piloting—not hallmarks of departments! And stay current with our digital Enterprise we offer a comprehensive portfolio the. Process digitization will create an improved customer experience, while lowering cost to serve these factors opened! The first is using digital-enabled approaches to improve companies ’ business processes, which we digital marketing in chemical industry functional.! Improvement in return on sales from employing digital in chemicals also presents opportunities... Are the sources of digital maturity capturing value to their needs and build market... Improvement in return on sales from employing digital in chemicals cost to serve information. To five-percentage-point improvement in return on sales performance is already changing the in., operations, and approaches that are equally applicable in the context chemicals! Individuals with disabilities equal access to our website depending on the brink of an age of big data, many. Shifts in value pools and capture economic profit saw 8 percent growth pilot... Which digital will affect the chemical industry to its digital portfolio requires a mindset. Value from digital: Discover comprehensive portfolio for the chemical industry financial performance the highest standards in hygiene—your!

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