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B2B Experiential Marketing – When does it work?

What is experiential marketing? On the rise in recent years, d2d Marketing Supplier in pune and experiential marketing is all about customer interaction with your brand. It offers a unique experience with products or services, allowing customers to get a feel for how they would use it in their lives. For years marketers have been trying to get customers to use and trial their products. In this way it’s not a new concept; there have however, certainly been some innovative spins on how it’s done. Let’s look at experiential marketing, how it can work for B2Bs and some of the ways it can help build your brand.

Emotional + Experiential Branding = Experiential Marketing The two elements that underpin experiential marketing are emotional branding and experiential branding.

Emotional branding: is about building the relationship between your brand and customers. Promoting emotional benefits like brand trust, security and credibility as a result of engaging with your brand is crucial. Experiential branding: designs and creates interactions that are sensory in nature, which emotionally influences preferences, shaping brand perception, and influencing satisfaction and loyalty. An excellent experiential marketing campaign is able to fuse both elements seamlessly together. Experiential Marketing for B2Bs In recent years interest in B2B experiential marketing has grown and some of the initial hesitation surrounding it has been replaced with a working understanding, when to do it, and how it stimulates ROI. For B2Bs, experiential marketing is generally less obvious, with the focus often on services (for example) in place of B2C exciting product launches. Oftentimes the B2B budget is also stretched. However we are seeing marketers begin to recognise the potentials that the experience can offer consumers. “The success of brand experience within the B2C market has not gone unnoticed, and B2B marketers are waking up to the potential of brand experience. However, there is a long way to go before they catch up with their B2C counterparts.” – Graham Ede, Ion Group 3 Examples of B2B experiential marketing Location with B2Bs can be one of the major barriers, and while it may not be easy to do experiential marketing in quite the same way as B2C, there’s certainly room to employ some of the same principals. Creating sensory interactions that promote core feelings of trust, and awareness of your product or services is central to this. Fulcrum marketing in public spaces – Linked with experiential, some marketers use a form of Fulcrum marketing. They tend to hold this drive in places where there are high concentrations of business buyers. Branded promotional staff can offer business people the opportunity to enter in a promotion, or sign up to attend an event whilst promoting the benefits of the product.  demonstrations & reward – as part of a targeted marketing strategy, those in the IT space can offer information via webinar or video, which can showcase some aspects of the technology solution. Some marketing and web-based tools such as  offer a free trial period, together with online coaching via Skype. This allows the user to build confidence in using the tool, and to experience all of the benefits of the trial period. At the end of the trial period (7 days), the participant is given a report with feedback on how well they have used the tool. Then they are awarded a certificate. Surprises and games – Surprising customers by showing up where they least expect you, gifting them, or sending them a card is a way to provide an out of the box experience and drive brand awareness. Another option could be to exhibit at a partner’s event as IBM did. Their interactive stand came complete with a candy bar, and plasma screens which posted live tweets from event attendees. Digital technology such as apps and games are also opportunity areas, and while often costly, look set to become more widespread and affordable in future. Experiential marketing reflects the growing importance of emphasising emotions to build successful brands. Digital media offers expanding opportunities to offer such experiences. In the ever-competitive B2B marketplace, it’s no longer enough to rely on traditional modes for lead generation. B2B marketers need to consider the complete kit that is available to them including; social media, mobile, search, paid advertising, print, telemarketing and increasingly placing emotion at the heart of it all with an experiential approach.

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Selling & Administrative Expenses

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Businesses of all different sizes report their operating profits and expenses on an income statement. It’s one of the main report cards defining the business and the effectiveness of its management’s performance over the accounting period. Income statements are broken down into different sections. Selling and administrative expenses is a large portion of a company’s balance sheet, and may represent a large portion of the company’s total operating budget

Definition

Selling and Administrative Expenses, also called Selling, General and Administrative Expenses, are the net operating expenses of the business that are not part of the cost of goods sold. Examples of selling and administrative expenses include advertising and the salaries of people not directly related to manufacturing a product, as well as recurring expenses as insurance and rent.

Background

Due to the potentially large impact that selling and administrative expenses have on a company’s financial statement, managers and owners must watch each expense carefully, making sure that each expenditure is necessary to continued business profit. Selling and administrative expenses can be cut when managers need to make an impact on their financial statements quickly. Deferring or haphazard cutting of these expenses, though, can cause problems over the long term, as advertising and sales people’s commissions may be among the expenses cut, which could cause sales to drop and net profits to erode.

Calculating from an Income Statement

On most income statements, the cost of goods sold is calculated close to the top part of the income statement, and is generally subtracted from the total sales as part of the gross profit calculation. The other expenses listed directly below the gross profit are often selling and administrative expenses, with the exception of depreciation. You can calculate the selling and administrative expenses by subtracting the net profit or loss from the total gross sales and depreciation of the business.

Fixed and Variable Expenses

Selling and administrative expenses are also called operating expenses. Some expenses will increase or decrease depending on the amount of sales that a company makes. These are called variable expenses. Other expenses do not change depending on sales volume, such as business rent or insurance. These are called fixed expenses. Some selling and administrative expenses are variable, such as sales commissions, but most selling and administrative expenses are relatively fixed, and do not fluctuate simply because sales amounts rise and fall.

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