Saurav SarkarB14035

Praxis Business School

INDUSTRIAL PROMOTIONS

AGENDA

• Marketing Communications

• Push and Pull Strategy in Communication

• Role of Communication in PLC

• Industrial Promotions in B2B

• Promotional tool used in B2B Marketing

• The AIDA Model

• Importance of B2B Promotions– Personal Selling– Sales Promotion – Direct Marketing– Public Relations– Advertising

• Importance and Role of Trade Shows in B2B Promotions• How Industry Conferences helps in Exposure• Role of Web and Internet in B2B Promotions

• 3 Examples of B2B Promotions– Xerox– American Express– Open Text

MARKETING COMMUNICATION• It is essential for all firms to communicate its message to customers in order to increase their sale. To

be able to communicate efficiently with the customers, firms need to decide which marketing communication concepts they will use.

• There are two general marketing perspectives, comprising four distinct types of marketing– Transactional Marketing: That is to managing the marketing mix, i.e. the 4Ps, in order to attract

and satisfy customers– Relational Marketing: • Database marketing: Technology-based tools are used in order to target and maintain

customers. • Interaction marketing: Includes the development of interpersonal relationships in order to

create cooperative interactions between sellers and buyers for reciprocal benefits. • Network marketing: It is about the development of relationships between the firms within the

network in order to be able to coordinate activities among several parties for mutual benefit, exchange of resources and so forth

PUSH VS PULL PROMOTIONAL STRATEGY IN COMMUNICATION

From the publication of Prof. Fredy Lee

THE ROLE OF COMMUNICATION IN PLC

www.communication_product_life_cycle.com

INDUSTRIAL PROMOTIONS

• B2B brands avoid mass market broadcasts

• B2B companies also ensure their brands are represented at industry events where potential customers meet B2B sellers

• Extensive research and budget analysis are conducted to determine if specific promotional elements will achieve short-term or long-term marketing goals and contribute to the financial performance of the organization.

PROMOTIONAL TOOL USED IN B2B MARKETING

• B2B businesses use promotional methods unique to the industrial business market. For instance, marketers and sales professionals use white papers and product brochures to educate prospects and customers about products or services

• Relationship building is a key aspect in B2B marketing, as brand loyalty and commitment tend to be higher among business customers compared to consumers

• Social media is fast becoming a promotional tool used to position B2B brands in the digital sphere.

THE AIDA HIERARCHICAL DECISION MAKING MODEL

The AIDA model is also important because it gives us four levels to measure and explore when we are looking at the effectiveness of business promotions.

Google images_AIDA MODEL

THE IMPORTANCE OF DIFFERENT TYPES OF B2B PROMOTIONS

Non Personal Communication

• Advertising

• Sales Promotion

• Public Relations

• Direct Marketing

Personal Communication

• Personal Selling

The Promotional mix incorporates the combination and types of non personal and personal communication the organization employs during a specified period

PERSONAL SELLING

• Personal selling is the marketing tool that best fits with this kind of marketing. It is a tool that is mostly used in a B2B context and especially in markets with fewer and larger sellers

• This marketing tool includes trade fairs, trade shows, incentive programs and sales presentations. Personal selling is important when building up customers’ preferences, convictions and actions

• The main objective is to build a long term relationship with the customer

Weakness:

• Cost per contact is high

• Presentation skills may vary between sales people

SALES PROMOTION• B2B markets sales promotions are also used as a means of moving customers to action

The techniques more likely to be utilized include:– Price-reductions– Free product– Trade-in– Promotional products– Trade shows

Of the promotions listed, trade shows are by far the mostly widely used sales promotion for B2B marketers

Weakness:

• Impact may be limited to short term

• Price related sales promotion may hurt brand image

• Easy for competitors to copy

DIRECT MARKETING

• Message can be customized and prepared quickly

• Can facilitate a relationship with customer

Weakness

• Managing and maintaining accurate database can be costly

• Often low customer response

PUBLIC RELATIONS IN B2B• Typically B2B PR activities may include media relations and coverage, online public relations

including social media, strategic partnerships, developing corporate and marketing materials and many more

• B2B PR Campaigns are usually more targeted than consumer ones because it is aiming the message at a more defined audience

• B2B PR program identifies unique value within an organization and creates a plan for reaching key decision makers

Weakness

• Media may not cooperate

• Marketer has little control over the message

MANAGING B2B ADVERTISING

• Set Advertising Objectives and Define Target Market

• Determine the Advertising Budget

• Develop the Message

• Select the Media

• Evaluate Advertising Effectiveness

Weakness

• Reaches many people who are not potential buyers

• Ads may subject to criticism

• Exposure time is short

IMPORTANCE OF TRADE SHOWS IN B2B PROMOTIONS

Trade shows: It is undoubtedly one of the best marketing tools in the modern marketing scenario. Trade show is an ideal platform where it is possible to achieve maximum exposure and gain popularity. Through these shows it is easier to achieve maximum product visibility at an international level in a cost-effective manner which is most commonly done through online b2b business directories.

Role of Trade Shows in B2B Business:Today B2B marketers rely on trade shows to generate leads as it is the most effective and affordable marketing tools. Most of the companies participate in these shows to gain maximum visibility in the global arena. These companies set up booths and attract prospective clients or customers who are interested in their products and services.

HOW INDUSTRIAL CONFERENCES HELPS IN EXPOSURE

• GE on Instagram, Vine and Tumblr: In a conference Linda Boff, Executive Director Global Brand Marketing at GE mentioned that General Electric has found Instagram, Vine and Tumblr as platform where the GE brand has found its voice by sharing groundbreaking research and simple science experiments

• Whats App as a business tool: Lisa Abbatiello, CEO of Leo Burnett Business, New York mentioned that they use Whats App for engaging among global groups and Twitter to highlight their teams point of view on their client’s industries

THE ROLE OF WEB AND INTERNET IN B2B PROMOTIONS

•  B2B companies often face the challenge of needing to appeal to multiple individuals inside the same company . In order to tackle these difficulties, B2B companies rely on inbound marketing methods like an Internet marketing strategy

• One of the biggest challenges in any B2B Internet marketing promotion strategy is continually releasing new content that people will want to read, share, and circulate on the Internet with very little coaxing

• Online marketing promotion can take many forms. The most common options for B2B companies are:– Interactive websites– Written content (blogs, SEO, etc.)– Social media outreach– Email marketing– Content promotion on other blogs or websites– Videos

XEROX CREATES “GET OPTIMISTIC "CAMPAIGN TO CONNECT WITH TOP ACCOUNTS

The idea of using optimism as an overarching campaign theme was a breakthrough idea that excited not only the marketing team but also the Xerox management team. In the solutions world, everyone focuses on problems. Xerox message to targeted decision-makers would be just the opposite: that optimism is smart business and Xerox can provide valuable insights into how similar organizations have used optimism and confidence to reach new heights.

In the approximately nine months since it is initial launch, the campaign has already generated measurable business results. It has changed the perception of Xerox with its key prospects and it has also generated over 1000 new sales appointments and more than $1B in pipeline revenue

AMERICAN EXPRESS LAUNCHES OPEN FORUM, A SITE THAT GIVES ADVICE TO SMALL BUSINESS OWNERS

A few years ago American Express launched Open Forum, a site that aims to give advice to small business owners.

The site is frequently updated with new content, including blog posts and videos, but the jewel in the crown is probably the Idea Hub. The hub is a forum that allows members to network and share ideas with each other and industry experts.

It now attracts more than 1m unique visitors per month and has more than 18,000 members. Interestingly, social media is currently the most popular topic on the site.

OPEN TEXT

Created a personalized new customer onboarding site offering a variety of assets (white papers, checklists, product pages, case studies) and content to welcome new clients and provide upsell, cross-sell opportunities. The campaign also included a two phase nurturing program. 1,700 new contacts were identified along with 31 new opportunities worth $1.8 million

THANK YOU……….