Tag Archives: sales

Best Practice No. 3: Hold Sales Leaders Accountable for Co-op Results

Best Practice No. 3: Hold Sales Leaders Accountable for Co-op Results

While it’s critical to have a local co-op champion to service as a resource to local sales reps, the local champion is not likely to have the authority to compel a sales rep to bring up co-op in a sales call. That authority rests with sales leadership, which tends to be fickle when it comes to co-op. They may push it in spurts when they need to revenue boost, but they are rarely held accountable for co-op results. And when they are not accountable for a number, they won’t feel obligation to drive that number.

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“You need someone local who has a vested interest in co-op who is in a position to talk to the reps,” a senior local media sales executive said. “Sales reps will not listen to a clerical person.”

iconThis article was written by Charles Laughlin of the Local Search Association in Breaking Through the Co-op Clutter: Best Practices for Improved Co-op Advertising Sales. For more information on how Recas can help expand your brand advertising potential, please visit www.recas.com.

 

Selling Ideas to Turn Your Luck Around on Friday the 13th

Superstition can be silly, or even irrational, but the fear of the number 13 (or triskaidekaphobia), affects more people than you might think. More than 80% of high-rise buildings lack a 13th floor, some hospitals don’t have a 13th room and many airports avoid the 13th gate. But even if you think superstition is nothing to fear– think again. Whether it’s a casino or a grocery store, businesses generally see a massive decline in sales on Friday the 13th. It’s estimated that around $700-800 million in revenue is lost every on these days. Now that’s scary!

This year, we’re going to be observing THREE of these unlucky days in February, March and November. Instead of falling for superstition, embrace it with these clever advertising ideas.

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Advertise good luck charms.

Many great athletes carry lucky charms or perform rituals before every game. Some have a lucky pair of (unwashed) socks or a hat they need to wear. Others might need to eat a peanut butter and jelly sandwich before every game or they believe they’ll be setting themselves up for failure.  Sports equipment stores can use these superstitions by advertising a deal for anyone who admits they have a lucky charm or ritual on social media. They can even offer deals on charms for those who haven’t found their luck.

Retail stores can also promote deals like “Buy-one-get-one for a lucky penny.” They can also try doing “lucky penny deals” for items that have trouble selling. Find those hard-to-sell items or discontinued products and advertise them as costing one penny. This makes it like a treasure hunt for those who are looking for a deal and also encourages other sales as customers search for these items.

Spread the word about black cats.

Animal shelters can encourage animal-lovers to ditch the black cat superstition by advertising black cat adoption on Friday the 13th. Any other day of the year is difficult for black cat adoptions because they’re often viewed as a bad omen. Sadly, they’re the ones most often left without a home at animal shelters. Try using a tagline like, “Make Their Friday the 13th Lucky!” while advertising positive facts about black cats. But don’t forget about our other black furry friends! Try offering deals on all black-fur animals as well since black cats aren’t the only ones who are left behind.

In addition, shelters can team up with pet grooming facilities to give a free pet grooming per adoption. Or, they can provide dog and cat grooming for $13 off for regular customers.

Try an “everybody wins” giveaway.

Businesses can offer 13 “grand” prizes in an online/social media giveaway, while making it possible for everyone to be winners– even on Friday the 13th. In addition to the grand prizes, businesses can offer coupon deals or small freebies to those who entered the giveaway. Since many may be reluctant to try their luck in a luck-of-the-draw contest, offering something to anyone who participates will be more reassuring.

Promote with clover deals.

Book stores and libraries can hop on board for Friday the 13th deals by creating a fun way to entice shoppers and book borrowers. Businesses can hide paper four-leaf clovers into a random selection of books at a particular book display. For those who are lucky enough to find a clover in the book they are purchasing, or simply leafing through, they can use it to get 13% off of a book or turn it in for a small prize. This drives the tradition of pressing four-leaf clovers in books for safe keeping. This could also be a great idea for St. Patrick’s Day!

There are plenty of opportunities for businesses to advertise for Friday the 13th. Although this day usually has the least amount of sales, businesses can use creative ways to encourage the more superstitious (and even the least superstitious) customers to check out their store. If you’re the more superstitious one, don’t create your own bad luck by missing out on some great selling opportunities!

Coupon Marketing, the Psychology Behind It

Coupons have always been an effective way to encourage people to try a new product, or at least a product new to them. But believe it or not, there is a science as to why coupons and sales actually work.

“When the economy tanked, many lost their jobs, most lost a considerable amount of their retirement savings, and jobs and bonuses that were once secure are now uncertain. People reacted by cutting back and being smart about their purchases. Coupons are a great way to save money without a lot of effort,” said John Morgan, Executive Director for the Association of Coupon Professionals. Now it’s becoming even easier, for there are online printable coupons, coupons being delivered in the mail, and digital coupons that can be scanned directly off of a smartphone.

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The psychology behind coupons goes like this: seeing a marked-down price next to a higher original price provides a rationale as to whether or not a person should buy something. But in reality, there’s little that’s rational about it. Consumers crave big sales and coupons for the thrill of knowing that they discovered a good deal. For example: we see a $20 sweater, and conclude based on its price that it must be a low-quality sweater. On the other hand, seeing a red line through the $50 price tag on a sweater that’s marked down to $20 indicates to us that the sweater is of high quality and that for $20, it is a steal. Granted, the sweater probably did not cost $50, but the $50 price tag allows the retailer more room to offer a markdown, but still make a profit. This is often called the “mark-up-to-mark-down strategy”.

An added benefit to retailers who accept coupons is that the people who use coupons tend to be very valuable customers in terms of loyalty, amount they purchase, and number of trips. If a retailer accepts manufacturer coupons, they are reimbursed for the full amount of the product price and profit, while also providing a benefit to their consumers.

All in all, coupons increase the likelihood of a sale. Whether or not a coupon truly is a good deal, it makes a customer feel like it is. Emotion is the driving force for consumers, and understanding the psychology behind coupons and the emotions they create is the key to a successful profit.

Photo courtesy of Creative Outlet by MultiAd.

December Targeting Idea – National Salesperson’s Day

It’s time to recognize our salespeople! National Salesperson’s Day is on December 6th this year.

TitleNational Salesperson Day recognizes the value of the truly professional salesperson. Customers rely on salespeople to turn their needs and wants into solutions. And salesperson doesn’t necessarily mean a person actually in sales or marketing. The workforce is full of car salespeople, insurance agents, loan officers, mortgage brokers, interior designers, restaurant servers, bartenders, even convenience store clerks. Anyone employed in the service industry is, in one way or another, a salesperson.

This is an opportunistic day for advertisers to “give back” to salespeople. Hotels could offer discounts to companies who rent out their conference rooms, and offer discounts if the conference required traveling. Airlines could also team up with hotels to provide the best package for work-related traveling.

Another route would be the electronic stores, including phone and wireless stores, that provide salespeople with their most essential tool for communication: technology. Salespeople often have needs for multiple devices, so why not advertise deals that incorporate more than one? For example: “Upgrade your phone and get a free tablet!” or “Buy one tablet and get another one half off!” (Who wouldn’t want a tablet for the home and one for the office?)

Also keep in mind that first impressions are very important when it comes to being a salesperson. They need to look professional, put together, and serious about their job. Suggest that a department store puts on a sale for their professional work wear. No closet ever has enough suits or dresses! There are plenty of ways to advertise for National Salesperson’s Day. Considering most people are salespeople in one way or another, the sky is the limit.

Photo courtesy of Creative Outlet by MultiAd.