Issue No. 241
30th October 2024 |
SME suppliers losing out on £66,000 in repeat sales every year
Small and mid-sized manufacturers, wholesalers and distributors could unlock an average of £66,000 in repeat sales with a renewed focus on customer loyalty, a new report from Oxford Brookes Business School and ProspectSoft reveals. The findings are based on the profit that firms could win from customers who don’t spend beyond their third purchase, and uncover the customer base that most SMEs fail to catch in their revenue stream. Andrew Ardron, founder of ProspectSoft, said: "Customers who go on to make a fourth purchase can be classed as loyal, so it's important to drill into the data to see where they’re dropping off and then develop strategies to retain them." His view is that many businesses are not yet making full use of this data to increase loyalty and drive growth.
With best regards
Mark Simms, Editor
editor@machinebuilding.net
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Energy efficiency has become the decisive factor in electric motor choice
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New research by ABB, in collaboration with Sapio Research, has surveyed nearly 2,400 global businesses to gain insight into the state of the market around energy efficiency, sustainability, digitalisation, and the key role played by electric motor...
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Rubix takes home gold with EcoVadis
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Rubix has obtained an EcoVadis gold medal for the third year in a row. This reflects the company's continuing progress on environmental, social and governance (ESG) topics.
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New PTFE-free, lubrication-free plain bearing material
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New igus endurance material, iglidur JPF, is perfect for a wide range of wear-resistant polymer bearings as manufacturers seek to eliminate PFAS and PTFE before a potential ban in 2026.
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Schneider Electric obtains higher level cybersecurity certification
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Schneider Electric reports that its EcoStruxure IT Network Management Card 3 (NMC3) platform has obtained a new and higher level of cybersecurity certification, making it the first Data Centre Infrastructure Management (DCIM) network card to...
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CASE STUDIES, NEW PRODUCTS & NEWS
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Complete system for safe guard locking and operation
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Miniaturisation is an important aspect of industrial transformation. It ensures efficient and sustainable processes, because 'smaller' solutions save space and energy. Pilz supports this aspect with safe sensor technology solutions: The new...
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Beware of counterfeit MiniTec Powerlock fasteners
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In today's interconnected global marketplace, the prevalence of counterfeit products poses a significant threat to industries, including manufacturing. Alarmingly, counterfeit versions of MiniTec's Powerlock fastenings have infiltrated the market,...
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Common mistakes to avoid when selecting ball screws
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Mike Bacon, internal technical applications engineer at Matara UK, looks at the common mistakes made by customers in relation to ball screws for linear motion applications, from poor product choice, through to incorrect installation and maintenance...
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HARTING improves its range of termination technologies
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HARTING solutions are characterised by an efficient plug and play system, which eliminates errors by ensuring plug-in security with the help of coding. It has now expanded its portfolio with of termination technologies with the new Han Push-In...
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Keeping electrical equipment running during the winter weather
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As the colder, wetter weather drifts in, it's ever-more important to keep valuable electrical equipment living outside protected from the elements, as the experts at Rittal explain.
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Procter Machine Safety Delivers Cutting-Edge Enclosure for WAAM3D
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Procter Machine Safety recently completed a significant project for WAAM3D, a pioneering 3D printing company. The project involved designing, manufacturing and installing a bespoke machine enclosure that addressed numerous challenges and met the...
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Finish your year strong - become a Machinery Safety Expert
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The end of 2024 may be edging closer, but don't wait until a New Year for a new you - there's still time to finish the year as a Certified Expert. But not too much time; before the year draws to a close, only one scheduled CMSE (Certified...
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Advertise with MachineBuilding.net
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