What makes you different from another agency when pitching a new client? Are you a Google Premier Partner? Do you utilize an amazing Social Media Management or Online Reputation/Review platform? Every tool you use may put your head and shoulders above your competition. However, there is one tool you may be missing that can make a huge difference – Co-Op Advertising. Co-Op Advertising is another great sales tool to discuss with your prospective client as it has the potential to really stretch their budget.
Let’s look at a Hardware Store…they sell everything from paint to tools to fertilizers and all things in between! With every purchase, they make of that Bonide pesticide line, Benjamin Moore Paints, and GE Silicones they are more than likely earning co-op funds based on those purchases. It may even be hard to imagine how much they are earning with the thousands of products they stock and sell. The client may be aware of co-op and use it to some degree, perhaps with a brand or two, or may not be aware of it at all. Either way, the potential exists to help them secure those funds for hundreds of products they sell.
The great thing is – it is not just Hardware Stores! Plumbing Stores, Tire Centers, Pool, and Hot Tub Stores, and even Tanning Salons sell a multitude of products that provide this opportunity (and this is just a few of the categories!). We are not even talking about Automotive which is the largest Co-Op category. In the case of automotive everyone tends to think about the “front of the building” (all the new cars) and neglect “the back of the house” (Parts & Service). Think of items like oil, wiper blades, engines, and tires and you can see why the Parts & Service departments have such a great opportunity to utilize co-op due to all the brands being bought and sold, and at a rapid pace.
Showing up to your client meeting with some co-op facts in your back pocket will surely impress them. How to go about this? Well, just go on their website and look at some of the brands they sell. Or, if they will tell you the Top 10 brands that fly out of their store then even better! Researching these brands in the Localogy Co>Op Connect database will provide you with the advertising guidelines to follow to ensure that your client receives their Co-Op funding from these brands. The database also provides current brand promotions so that you can tie your client’s local advertising into the brand’s national campaign for even more brand recognition. Most brands reimburse anywhere from 50 – 100% so this will really stretch their budget. Imagine they go into your meeting thinking that they have $20,000 to spend on advertising in the next 6 months and you are able to propose $40,000 in advertising due to available Co>Op funds!
The Localogy Co>Op Connect team is ready to assist you with your specific customers. To find out more about specific brands, the Co>Op Connect database, or to receive a 15-minute in-person demo, contact [email protected] or call 866-323-5504.
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