There are over 50 billion dollars made available by manufacturers for co-op advertising annually. Over one third of those funds go unused for various reasons. Let’s explore some of those reasons and how you can effectively overcome them and get your prospects or current clients utilizing their accrued co-op funds today so you can sell campaigns with more frequency or for a longer term. Would being able to double the sale with any current client or prospect who sells brand name products work for you? I know so!
We use all of our available co-op in the newspaper
Although traditionally manufacturers have embraced using newsprint as a preferred co-op medium the tide is shifting. It’s important to have a discussion with the prospect about newsprints declining circulation and higher rates. What would happen if they decreased the print ad size by fifty percent and used radio to reinforce their message by using those found funds for radio advertising? They would increase traffic and sales.
We don’t like the manufacturer scripts
Neither do we. Only in rare cases does the manufacturer not allow us to write compelling, creative scripts. A handful of manufactures will only allow use of their advertising materials or in some cases they will allow creative but the reimbursement will be less. For the most part, our radio clients write all of their own scripts.
When doing so you need to follow these basic guidelines.
Keep the ad exclusive to the manufacturers’ product or products
Mention the manufacturer brand two times in a thirty-second spot or three times in a sixty second spot
You cannot run seconds, leftovers or deep sale discounts, clearance or older inventory
Tell the advertisers story, what makes them different? Family owned does not make them different, free gift wrapping does
Always, always, always, work with the manufacturer’s Co-Op Administrator to get a written pre-approval
Co-Op isn’t what it used to be
It certainly is. Manufacturers are participating as much as ever with formal co-op initiatives. Almost with certainty the objection is not to co-op, the objection is to the amount of co-op they have available to them now. Co-Op is exactly what it has always been, but since the amount of funding available to a retailer is based on a percentage of paid invoices, it only stands to reason that if they are not ordering as much stock as they used to, they are not accruing the same amount of funds that they used to.
Talk to them about investing in their business. Be a part of the Co-Op Cycle of Success.
If you invest in more radio advertising then you will create more traffic at your store.
If you create more traffic at your store, then you will increase your sales.
If you increase your sales then you will need to order more product.
If you order more product then you will accrue more co-op funds to advertise with.
If you have more funds to invest in radio advertising, you will create more traffic in your store!
–Tim Marceau, President, Cooperative [Media] Solutions–The Co-Op Coach
The Co-Op Coach travels nationally training radio sales staffs on how to Break The Co-Op Code. Within one day you will be tuned in and tapping into the available funding that has been right under your nose for years! Get your share of the millions of dollars available, your prospects are waiting for you to engage them in the co-op conversation and help them through the process. Feel free to e-mail or call the Coach at 802-777-9096 or [email protected] for more details on how you can schedule your in market seminar.
website: www.theco-opcoach.com
