Asset Audits: What Are They, and How Can They Help Your Firm?
If you’re a growing firm, it’s very likely that your company’s approach to its materials, content, website, and messaging, has been a bit scattered and haphazard. As you’ve grown, you’ve seen the need for a website, and so you had one built. You then decided you should be sending out quarterly market commentaries, and so those pieces were tacked on somewhere in the website. Maybe you should be blogging regularly? You added a blog on to the website. In the midst of all of this you were busy—focused on running your business.
As your company continued to grow, it’s doubtful that you had the time to take a deep breath, sit back, and ponder what your marketing efforts really communicate: What are we seeking to portray in the content we produce? How do we want to be seen and understood in the competitive landscape? How are we coming across through our website, materials, and reports? Is everyone on the same page when it comes to messaging?
These are tough questions worthy of careful consideration, and best contemplated through fresh eyes or from a new perspective. In our view, one of the most useful tools at your disposal as you work through these questions is an asset audit.
An asset audit is a complete, thorough, top-to-bottom review of your company’s website, materials, messaging, and content. It’s possible (though difficult) to conduct such an effort in-house, but you’ll probably prefer the cold, dispassionate, unbiased eye of a third party to weigh in on marketing efforts or content pieces without the baggage of having produced any of it themselves. Asset audits are the answer to disparate initiatives and messaging that seem to have gained lives of their own. They provide an opportunity to really come together and take stock of what your company is saying to the world.
At the end of an asset audit, the auditor should have specific, actionable feedback on the content and messaging your company has produced, as well as how it can be improved or modified to highlight your firm’s core value propositions. When the auditing process is concluded, you should have a better idea of the varying effectiveness of the pieces of content you’ve produced, what messaging is redundant, and what is most evocative and powerful. A good asset audit will also take a close look at your company website—arguably the most publicly visible face of your company—and make suggestions when it comes to content, organization, and copy edits where necessary.
By bringing a third party into the process, you’ll also be taking some of the emotion out of the equation that is common when companies are really focusing on who they are and what they stand for. A competent asset auditor won’t be afraid to point out shortcomings or inadequacies in your marketing and content efforts, and will provide feedback even on tough questions that may require heading back to the drawing board for a new catch-phrase or slogan, or getting rid of a piece of content that doesn’t quite work.
The bottom line: if you’re struggling to get a handle on all of your messaging, marketing, and content efforts, and need someone to provide actionable feedback, an asset audit may be a good option.
China's Push Toward Excellence Delivers a Global Robotics Investment Opportunity
Written by: Jeremie Capron
China is on a mission to change its reputation from a manufacturer of cheap, mass-produced goods to a world leader in high quality manufacturing. If that surprises you, you’re not the only one.
For decades, China has been synonymous with the word cheap. But times are changing, and much of that change is reliant on the adoption of robotics, automation, and artificial intelligence, or RAAI (pronounced “ray”). For investors, this shift is driving a major opportunity to capture growth and returns rooted in China’s rapidly increasing demand for RAAI technologies.
You may have heard of ‘Made in China 2025,’ the strategy announced in 2015 by the central government aimed at remaking its industrial sector into a global leader in high-technology products and advanced manufacturing techniques. Unlike some public relations announcements, this one is much more than just a marketing tagline. Heavily subsidized by the Chinese government, the program is focused on generating major investments in automated manufacturing processes, also referred to as Industry 4.0 technologies, in an effort to drive a massive transformation across every sector of manufacturing. The program aims to overhaul the infrastructure of China’s manufacturing industry by not only driving down costs, but also—and perhaps most importantly—by improving the quality of everything it manufactures, from textiles to automobiles to electronic components.
Already, China has become what is arguably the most exciting robotics market in the world. The numbers speak for themselves. In 2016 alone, more than 87,000 robots were sold in the country, representing a year-over-year increase of 27%, according to the International Federation of Robotics. Last month’s World Robot Conference 2017 in Beijing brought together nearly 300 artificial intelligence (AI) specialists and representatives of over 150 robotics enterprises, making it one of the world’s largest robotics-focused conference in the world to date. That’s quite a transition for a country that wasn’t even on the map in the area of robotics only a decade ago.
As impressive as that may be, what’s even more exciting for anyone with an eye on the robotics industry is the fact that this growth represents only a tiny fraction of the potential for robotics penetration across China’s manufacturing facilities—and for investors in the companies that are delivering or are poised to deliver on the promise of RAAI-driven manufacturing advancements.
Despite its commitment to leverage the power of robotics, automation and AI to meet its aggressive ‘Made in China 2025’ goals, at the moment China has only 1 robot in place for every 250 manufacturing workers. Compare that to countries like Germany and Japan, where manufacturers utilize an average of one robot for every 30 human workers. Even if China were simply trying to catch up to other countries’ use of robotics, those numbers would signal immense near-term growth. But China is on a mission to do much more than achieve the status quo. The result? According to a recent report by the International Federation of Robotics (IFR), in 2019 as much as 40% of the worldwide market volume of industrial robots could be sold in China alone.
To understand how the country can support such grand growth, just take a look at where and why robotics is being applied today. While the automotive sector has historically been the largest buyer of robots, China’s strategy reaches far and wide to include a wide variety of future-oriented manufacturing processes and industries.
Electronics is a key example. In fact, the electrical and electronics industry surpassed the automotive industry as the top buyer of robotics in 2016, with sales up 75% to almost 30,000 units. Assemblers such as Foxconn rely on thousands of workers to assemble today’s new iPhones. Until recently, the assembly of these highly delicate components required a level of human dexterity that robots simply could not match, as well as human vision to help ensure accuracy and quality. But recent advancements in robotics are changing all that. Industrial robots already have the ability to handle many of the miniature components in today’s smart phones. Very soon, these robots are expected to have the skills to bolster the human workforce, significantly increasing manufacturing capacity. Newer, more dexterous industrial robots are expected to significantly reduce human error during the assembly process of even the most fragile components, including the recently announced OLED (organic light-emitting diode) screens that Samsung and Apple introduced on their latest mobile devices including the iPhone X. Advancements in computer vision are transforming how critical quality checks are performed on these and many other electronic devices. All of these innovations are coming together at just the right time for a country that is striving to create the world’s most advanced manufacturing climate.
Clearly, China’s trajectory in the area of RAAI is in hyper drive. For investors who are seeking a tool to leverage this opportunity in an intelligent and perhaps unexpected way, the ROBO Global Robotics & Automation Index may help. The ROBO Index already offers a vast exposure to China’s potential growth due to the depth and breadth of the robotics and automation supply chain. As China continues to improve its manufacturing processes to meet its 2025 initiative, every supplier across China’s far-reaching supply chains will benefit. Wherever they are located, suppliers of RAAI-related components—reduction gears, sensors, linear motion systems, controllers, and so much more—are bracing for spikes in demand as China pushes to turn its dream into a reality.
Today, around 13% of the revenues generated by the ROBO Global Index members are driven by China’s investments in robotics and automation. Tomorrow? It’s hard to say. But one thing is for certain: China’s commitment to improving the quality and cost-efficiency of its manufacturing facilities is showing no signs of slowing down—and its reliance on robotics, automation, and artificial intelligence is vital to its success.
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