Check out this month’s article from Search Engine Land written by LSA’s Wesley Young! Learn more about how to make sure your Google profile images boost your local search results.
The opportunity with co-op is huge. LSA often talks about the $35 billion in co-op ad dollars that go unused each year. Actually utilizing these funds, however, remains a challenge for many.
The first ever LSA Co-op Conference was created to demystify the often misunderstood and widely underutilized world of co-op advertising. Today in Chicago, the half-day event brought together sellers, practitioners and brands to provide a comprehensive look into the co-op advertising tactics and opportunities that are driving meaningful revenue growth for media sellers.
In addition to a number of practical takeaways provided by speakers at the event, attendees also received an advance copy of an LSA paper titled, “Breaking through the Co-op Clutter: Best Practices for Improved Co-op Advertising Sales.” The paper will be available more broadly in coming weeks.
After highlighting the co-op opportunity, the paper provides 10 best practices seen in the market. They are:
1. Make Co-op an Integrated Part of the Sales Process: “Co-op performance would improve if sales organizations baked co-op into all of their sales processes.”
2. Have a Local Champion: “Several of the co-op experts interviewed for this report cited a strong relationship between having a co-op champion/subject matter expert in the local sales office and greater success with co-op.”
3. Hold Sales Leaders Accountable for Co-op Results: “You need someone local who has a vested interest in co-op who is in a position to talk to the reps.”
4. Track Performance: “Organizations that measure co-op performance in real time are in a better position to drive co-op performance.”
5. Eliminate Complexity: “Innovations that limit the steps required of local businesses and media sellers, that make information more accessible and easier to understand and streamline the approval and reimbursement processes, will gradually transform the co-op opportunity.”
6. Develop a List of Target Accounts: “Focusing on a limited number of high-opportunity accounts for co-op can yield better results than requiring co-op in every conversation or needs analysis.”
7. Communicate, Communicate, Communicate: “Keep your teams informed of new co-op programs and the brands that are offering these programs.”
8. Provide Ongoing, Online Training: “On-site co-op training is great, but new hires and refreshers via online training can help prevent co-op numbers from sagging.”
9. Contests and Promotions: “Contest are by their nature not sustainable, so they should be seen as a supplement to more fundamental, long-term changes like integrating co-op into the sales process.”
10. Arm Your Reps with Research: “Supporting all reps with co-op prep will produce more consistent and better conversations about co-op on sales calls.”
View more at the LSA Insider.
Print ads typically do not transfer easily, let alone well, to the Internet. Luckily, LSA has plenty of online advertisements to take your pick from on Creative Outlet.
#14 Online Ads
These ads are tailor-made for the Internet, and they come in many sizes to fit your needs.
Banner Ads: Banner ads are usually found at the top of the webpage. They are long and short.
Rectangular: These ads are exactly what they sound like. They are a block-shaped ad that can be found in the middle of a page, or possibly on the side, too.
Keep it Simple
The key to selling advertising related to manufacturer co-op plans is to help the local dealer with aspects of the process they’re not comfortable with or need some level of assistance. Your sales process remains the same as it would be for any prospect; you’re selling the value of your audience as potential customers of their business. With co-op however, any material they run generally needs to be reviewed and approved by folks with the manufacturer brand, since they will be reimbursing the dealer a portion of the ad cost. When all is said and done, the local dealer is paying your ad invoice and submitting a co-op claim based on that spending, along with any proof-of-performance documentation (tearsheet, screenshot, notarized script, etc.)
Thousands of manufacturers provide advertising dollars to the dealers of their product lines, but you can never assume that those dealers are entirely aware of how to make use of it. Increase chances for co-op success by using these four simple steps:
- Provide Co-op Advertising
Research…Find promotion opportunities with manufacturer brand partners from a co-op plan database or ask the dealers what they know about the brand’s marketing assistance. Most major brands offer some level of local advertising support to their dealer base, so find what you can and ask the local store how you might be able to help them run this with you.
- Present Brand Advertising Opportunities…Manufacturers run sales promotions all the time; special financing, gift with purchase and new product introduction offers hit the market regularly. The manufacturer is promoting these through the major networks and other national media, and usually trying to “incentivize” their dealer base to run local promotions as well. Do the stores know how to target your audience with these?
- Offer Co-op Advertising Approval Service…Simplify the co-op process for local businesses by offering to have their finished ad reviewed by their manufacturer contact. Helping them manage the approval process will ensure approved dealer promotions and co-op reimbursement.
- Supply Co-op Claim Documentation…Ease the process of claim reimbursement for your local dealers by compiling any necessary proof-of-performance under the plan guidelines. Simply commit to delivering a duplicate copy of their invoice and tearsheet/screenshot/script/etc. for each co-op schedule that they run with you.
Stick to the easy stuff…you’ll have far more luck in co-op advertising with the major brands. With your local accounts, look for the big-name product lines that normally have well-established programs and materials. The bigger manufacturers are much easier to work with since the parameters are already established for dealer promotion, and there are online portals for ad material access. All brands will have some semblance of dealer marketing support but in most cases, bigger is better.
Take advantage of current manufacturer promotions…For example, April opens up Spring business north of the Mason-Dixon line and manufacturer brands offer sales promotions to build consumer business. Among the hot categories/brands with consumer promotions this month:
Auto Aftermarket: Castrol, Pennzoil, Valvoline, Bridgestone
Motorsports: BRP CAN-AM, Suzuki, Yamaha
Outdoor Equipment: John Deere, Snapper, Simplicity, Toro
Paint: Ace Hardware, True Value, Benjamin Moore
Certain local dealers will need some level of assistance with the co-op process in order to make sure they get reimbursed for the effort. The only way to know for sure is to ask.
This information is provided by LSA Recas to help take the mystery out of co-op advertising. For more information on how Recas can help expand your brand advertising potential, please visit www.recas.com. Email Tim at firstname.lastname@example.org.
Alanda Hunt joined the Creative Outlet team five and a half years ago with more than 18 years of sales and customer service experience. As an account manager, she handles the southern territory of the United States. She loves her job and working closely with clients.
Alanda spends the majority of her time at work on the phone with customers, checking in with them, finding out what products they are using, and making sure Ad-Builder’s services are working for them. It’s easy to miss someone when making so many calls each day, and Alanda jokes that phone tag is one of her favorite games. All
kidding aside, Alanda loves the problem solving that comes with the job. “I find it a challenge when a customer is thinking about leaving, as it motivates me to help them find a better fit with additional
products,” she says. Alanda also enjoys walking customers through the Creative Outlet website and showing them the many features it offers.
Outside of work, Alanda’s life is all about her family and friends. Alanda is very proud of her son JD, who served 6 years as a reservist in the Army National Guard. Her daughter, Courtney, is starting her second year at Illinois Central College. Alanda and her family love to watch football, and are huge Pittsburgh Steelers fans. They recently celebrated her dad’s birthday, complete with photo props and a selfie stick for fun photo memories.
Alanda is an eternal optimist who loves to laugh and have fun. We are so lucky to have such a positive employee as a part of our customer service team here at Ad-Builder. Thanks for all your hard work and dedication to the job, Alanda!
NOVEMBER 2016 TARGET LIST
- 3- Public Television Debuts (1969)
- 5- New York Weekly Journal First Issued (1733)
- 8- X-Ray Discovered (1895)
- 10- US Marine Corps Established (1775)
- 10- Area Codes Introduced (1951)
- 10- “Sesame Street” Premiere (1969)
- 10- Microsoft Releases Windows (1983)
- 19- Gettysburg Address Delivered (1863)
- 19- First Presidential Library (1939)
- 22- The Humane Society of the US Founded (1954)
- 22- John F. Kennedy Assassinated (1963)
Birthdays & Holidays
- 2- James K. Polk (1795)
- 2- Warren G. Harding (1865)
- 4- Will Rogers (1879)
- 6- James Naismith (1861)
- 6- Daylight Saving Time Ends
- 8- General Election Day
- 10- Martin Luther (1483)
- 11- Veterans Day
- 18- Mickey Mouse (1928)
- 19- James Garfield (1831)
- 23- Franklin Pierce (1804)
- 24- Zachary Taylor (1784)
- 25- Andrew Carnegie (1835)
- 26- Charles Schulz (1922)
- 24- Thanksgiving
- 25- Black Friday
- 27- Jimi Hendrix (1942)
- 30- Winston Churchill (1874)
- National Authors’ Day (November 1)
- National Family Literacy Day (November 1)
- National Young Readers Week (November 7-11)
- American Education Week (November 14-18)
- National Book Awards Week (November 14-18)
- America Recycles Day (November 15)
- Homemade Bread Day (November 17)
- Family Volunteer Day (November 19)
- National Game and Puzzle Week (November 20-26)
- National Family Week (November 20-26)
- National Flossing Day (November 25)
- Small Business Saturday (November 26)