Tap and valve manufacturing has seen a number of challenges in recent years ranging from issues with sourcing materials and growth to handling ups and downs in the market. This has made it more important than ever for valve manufacturers to evolve their sales process and make sure they flow smoothly from the initial lead and quote stage, all the way through to completion. In this article, we look at the current state of the valve manufacturing industry, the types of quotes that are generally created and the challenges of handling these manually. We will then look at what you can do to improve and refine your quotation process, and how software and effective proposals can make all the difference to your sales.
As with many manufacturing industries, valve manufacturing has seen some significant ups and downs within the last few years, and much of this has largely been down to location, cost, and market trends.
According to IBIS World, the UK tap and valve market has declined at a CAGR of 5.1% over the past five years, reaching an estimated value of ยฃ1.2bn (GBP) in 2023. The declining UK market has been impacted by low production costs in foreign countries who also have quality advantages and brand reputation value for renown in manufacturing excellence.
In their market analysis, Mordor Intelligence looked at the global valve market, and estimated that in 2024 it is valued at $79.9bn (USD) and expected to grow at a CAGR of 5.39% to $108.2bn (USD) by 2029.
The increase in the valve market is believed to be due to commercial and industry focus in repair and revitalisation of equipment, rather than outright new items, and a rising investment in pipeline infrastructure for gas and oil sectors, as well as water and wastewater infrastructure development.
Trends impacting valve manufacturing companies include:
The valve market is one that is highly regulated and requires certifications, policies of compliance, and legal activities that often vary between locations on the global stage. This has acted as a restraint for some manufacturers as they have to amend products or marketing to match specific areas.
Companies on the cutting edge of innovation and the industry are looking at using streamlined services, automation, Customer Relationship Management (CRM) and programs like TEB Apps, which are designed to provide reliable automation and highly flexible customisation that allows for maximisation of lead conversions, so they can get ahead and overcome this hurdle.
The quotation process for a manufacturing industry is not often simple and straightforward, it involves an in-depth understanding of the industry, the specific lead, and the pain points that consumers are facing. Quotes have to be considered and meet expectations whilst still being possible to execute.
For advanced sales and business growth to occur, these quotes must also offer customers what they need, but still push forward enough to tempt them into features or extra items that can boost the sale.
On one side is success, and the other side failure. It is a balancing act that requires a lot of preparation, data, and technique.
Best practice in a quotation process for manufacturing requires:
Quotes in the valve manufacturing industry may range from small custom orders, often for specialised and very specific parts, to large industrial standard orders that might require bulk pricing or the involvement of discounted costs.
In order to manage opportunities with ease, and accuracy, it is essential that manufacturing industries adopt and work with an efficient quote creation process, such as the one offered by TEB Apps that allows for customisable quote templates, and an efficient productive workflow for your sales team.
A manual quotation process for valve manufacture can be extremely complex. Once you have looked at the products requested, any variations or customisations required, the overheads and specific localised standards, and addition of any import / export or other taxes and fees, there is a lot that must be managed.
Some of the key challenges which sales teams face when generating manual quotes include:
Manually working with quotes can negatively impact sales, business growth, and the bottom line if there is a lack of support or delays in action.
TEB Apps gives your team access to multiple customisable quote templates, automatic field generation of customer data, and multiple simplified pricing options that allow your team to create accurate quotes easily. Make quote management easy with TEB Apps, and benefit from:
When you use TEB Apps, you can make global selling easy, track all of your invoices, and access a funnel view of your quote activity so you can not only see how you are performing at any given time but can also use the data to improve your processes.
Book a demo today, and discover what TEB Apps can bring to your business.
