Co-op Ad Claiming – Not As Complex As You Might Think
May 11, 2017 | Contributed by: Tim Brennan
Proof of performance documentation and reimbursement claiming is the last hurdle in the co-op advertising process for all brand dealers and often a sweet service opportunity for their media partners. Sadly this often presents multiple challenges for the sales rep in pulling together the tear-sheets, screenshots, URL reports, and media invoicing necessary for the dealer to submit in a timely fashion. Operationally it shouldn’t be a complex process.
Most order entry and business systems are designed with some means of providing detailed documentation back to the client. In most cases, this is the most expedient and effective means of alerting the need for any duplicate documentation on the schedule.
Add-on systems like LSA Recas can aggregate the data from this entry into a coordinated co-op claim for the dealer, complete with submission address and requirements along with the related reporting on every aspect of the data import. Of course, this requires that the sales rep knows that this is a co-op ad to begin with and this is not always the case.
Those in advertising sales must be able to recognize clients who may use co-op to support their advertising and what those ads require from the dealer for reimbursement. The brand dealer is likely to invest more advertising dollars in any given media promotion when they are assured of co-op support from the manufacturer (up to 50% more in some studies).
The local dealer/retailer will have some basic expectations for the investment in a media and often don’t have the bandwidth to deal with any complications. And in their mind, co-op is filled with complications. The sales rep should know to ask for any special documentation requirements for any client and there should be procedures in place to help them manage that process.
Some media companies have mastered their internal systems to manage the co-op process. A co-op flag in order entry produces a streamlined process to deliver the dealer the basic material needed for co-op submission. They’ve made it easy for the client to place co-op in their products and that has helped draw in more co-op revenue through more clients as a result.
How can this happen for you if there’s not a process in place and your sales folk can’t recognize a co-op schedule to begin with?
Whether it’s your auto dealers with summer sales offers, leasing specials, or certified pre-owned deals, there’s co-op for that. Maybe it’s a specialty shoppe with a Vera Bradley backpack event for the fancier student or an eyewear store with an optical offer on ClearVision frames, there’s co-op for that. Or perhaps it’s an appliance store with special deals for the new empty-nesters with a Jenn-Air appliance, there’s co-op for that.
Click here to see how LSA can make co-op advertising a simple, revenue-driving strategy for your local media and marketing company.