Overcoming 5 Common Co-op Advertising Objections
January 17, 2019 | Contributed by: Courtney Dobson
In a perfect world, every client you come across would agree with all of your proposed co-op advertising plans, allowing you to do whatever you wish with their allocated funds. Unfortunately, this is not a reality and you are more than likely going to come across clients who resist the process.
You need to educate your clients by explaining the benefits that co-op advertising can provide and easing their fears on any issues that may arise. Here are a few of the more common concerns you may come across, along with potential responses.
“I already use all of my co-op.”
First, ask the retailer about any manufacturers that they purchase from but don’t receive any co-op money. It’s more than likely that when a retailer claims they’ve used all of their co-op, they have used all of their formal co-op, and may be unaware of any specially arranged co-op opportunities that are available. Take extra time to find all of the extra dollars and unique vendor opportunities that are available, as this will help strengthen your relationship with your clients.
“I am not comfortable sharing my vendor/account numbers.”
With stolen data and fraud so common in today’s world, you need to assure your clients that any confidential information they provide you with will remain that way. Vendor numbers, for example, are necessary for obtaining accrual balances, so to help build trust, ask your clients for one number at a time. Then, you can guide them through the process and use the plan information to contact the manufacturer while they are present. This can help ease any underlying fears they may have about sharing such data.
“Co-op is too much trouble.”
The Co>Op Connect team is equipped with all of the necessary knowledge and tools to guide you along your co-op journey. By following predetermined co-op guidelines and plan comments, you can ensure that your clients have a good experience. Be sure to keep them in the loop during each stage of the advertising process and provide them with copies of each document that they will need to submit for processing.”
“I tried co-op but did not get reimbursed.”
It’s important that your clients totally understand the co-op advertising process. Reiterate to them that manufacturers require their guidelines to be followed for reimbursement and that the resources offered through the Co>Op Connect platform will aid in ensuring these guidelines are met properly. Be sure to let your clients know the type of reimbursement they should expect, whether it’s check, cred memo, product or something else.
“It takes too long to get reimbursed.”
As soon as a retailer gets a claim into the manufacturer, the sooner they will receive a reimbursement. The increase in advertising can result in additional traffic and increased sales that can help your client with cash flow issues as they wait for reimbursement. As long as your client is utilizing their co-op advertising funds, they can sell more products and grow their business. It’s important to remind your clients that if these co-op dollars aren’t used, they will be lost.