This year is an active year of growth for cotton manufacturers in India and the USA. While the pandemic, political and economic changes, and trade agreements have created substantial challenges for the textile industry, there’s still a great opportunity for cotton, polyester, viscose, and knitted fabric manufacturers worldwide to grow their business. It has the potential for a billion-dollar growth in the next five years. On that note, a bit of expert advice can always take you a long way. Whether you already have a five-year plan in place or are looking for ways to improve your company in the future, we have shared a few ways for cotton, viscose, and polyester yarn manufacturers in India to help them to grow there textile manufacturing company.
Know Your Business Margins
Recently one of our buyers said that “having more information online on order specifications, lead time, pricing, and inventory levels are extremely helpful when looking for new suppliers.” And this makes us immensely grateful for our decision to launch our online trading platform, TEXchange, as it allows viscose yarn manufacturers in India to update all information helping businesses like you know their high and low margins, like what’s the best delivery schedule and quantity they can do?
Invest in a Process Automation Technology
The textile industry is a highly competitive sector, and the best way to stay ahead of the curve is by using technology for seamless operations and order management. Speed, efficiency, quality, and exceptional customer experience will make viscose yarn manufacturers in India successful. And the technology that automates processes, such as order management, production, transportation, and logistics, can help you tremendously in the future.
Build a Strong Team of Employees
Employees are the backbone of any firm, and the good ones will lead your business effortlessly, even without your presence. Hire experienced and skilled employees and at least one great leader in each department to guide the rest. Invest in training and skill development and make sure your staff understands the value of quality manufacturing and international trading standards.
Understand Your Customers From Different Angles
Your customers might remain the same, but their aspirations, demands, goals, and needs may change. For instance, knitted fabric manufacturers may need to concentrate on producing more varieties due to market saturation to retain existing customers.
Understanding how to make a customer happy will help you gain new customers. If you are planning to penetrate other markets, ensure your products and services meet the industry requirements.
For example, a certain sector may demand online trading and order processing. So, you may have to implement technology to meet their needs. Some might only order from certified cotton manufacturers in India, and a textile certification, such as OEKO-TEX, ANSI, or ISO, might solve the issue.
Develop a Strong Offline and Online Marketing Strategies To Ensure Your Customers Find You
Being everywhere your customers are will improve your brand identity and your chances of getting more RFPs.
Your marketing plan should contain two or more from each of the following marketing strategies: traditional marketing solutions like cold calls, brochures, pamphlets, newspaper and magazine ads, and direct sales and online marketing solutions like email marketing, online trading apps, social media marketing, SEO, blogs, Google business listing, and text marketing.
You must also concentrate on building a global brand and improving public relations through branding strategies in supplier discovery platforms like DMI, industry news, and information outlets.
This will ensure your customers spot you in the early stages of their buying cycle and choose you when they are ready.
Study the Current Business Ethics and Culture
For those cotton, polyester, and viscose manufacturers in India looking to expand globally, there are many things you need to consider – export and import policies, political laws, economy, and more.
Business ethics, logistics, and trading culture vary in each country.
While the trade potentials in the international market are great, export risks will always loom.
Therefore, it is more important now than ever to make informed decisions by educating yourself and your employees in the areas of legalities, border control, currency fluctuations, and distribution laws in each region.
TEXbulletin’s timely and accurate news will help you keep an eye on the market, stay abreast of the current trends, market trends, stock, and new technologies, and adapt to changing demands expertly.
If you still aren’t sure where to start, you can request our trading expert to help you out. For a free consultation, book an appointment online through our website. We have helped many knitted fabrics, viscose, cotton, and polyester manufacturers in India to find the right growth strategy for their business. We shall help you too.
