How to Sell Co-op to Your Advertising Clients in 8 Steps
December 20, 2018 | Contributed by: Courtney Dobson
Co-op advertising refers to an instance where a retailer launches a local advertisement with a prominent brand logo and that brand reimburses the retailer for a portion or in some cases all of the advertisement cost. The retailer’s co-op advertising accrual balance is based on a percentage of their purchases throughout the year. Those accrual dollars can then be spent on various types of advertising.
Once you’ve determined that your clients have accrual dollars to utilize, you can show and sell them on relevant co-op advertising opportunities. To better ensure that you’re hitting all the stops in your sales process, here are eight helpful tips to guide you along the way.
Target the Co-op Opportunity
Visit our new and improved database at www.coopconnect.com and uncover the best co-op manufacturer prospects. You can then sign up for email alerts and get connected with a Co>Op Connect specialist who can assist you in finding relevant advertising opportunities for your clients.
Set-up the Advertiser Call
On the call, be sure to ask your client relevant questions, such as if they’re taking advantage of co-op advertising and if they know any of the opportunities available to them. Let them know you can assist them with this process.
Prepare Your Ad Packet
Collect all of the relevant materials needed to show your clients, including plan details and spec ads. That way, your client can better understand what their co-op advertising options are.
Schedule an On-Site Visit
Once you’ve finished preparing, schedule a visit with your client to present them with the relevant advertising opportunities. Utilize these four steps for assisting them through the entire process: identifying brand advertising opportunities, accrual research, obtaining approval on ad materials and assisting in the claim process.
Conduct Co-op Research
Utilize the information you collected during your sales call and submit it to Co>Op Connect for a quick and efficient process.
Refine Proposal & Verify Co-op Requirements
After the accrual results are received, it’s time to verify the ad requirements needed to qualify for reimbursement. The ads can then be formatted to fit both the accrual findings as well as the manufacturer requirements.
Get Manufacturer Pre-Approval
This is recommended as a protection to all parties involved. Be sure to allocate time for any changes or revisions made along the way. The final ad can then be emailed to the brand for review and approval.
Provide Claim Documentation
Verify that you are able to satisfy the claim requirements prior to running the advertisement. Assemble the claim documentation for your client to submit to the manufacturer for reimbursement.
For more information about selling co-op advertising to your clients and to learn more about relevant co-op advertising opportunities, visit https://coopconnect.com/, call 877-990-COOP or email firstname.lastname@example.org for more information.