Best Practice No. 4: Track Performance
“What gets measured, gets done.” The quote has many fathers (Peter Drucker and Tom Peters among others). But it applies to co-op. Organizations that measure co-op performance in real time are in a better position to drive co-op performance.
Sigler note that Gatehouse tracks its co-op sales by property on a monthly basis, which enables the company to know if co-op utilization is keeping pace, lagging or exceeding its targets. These figures can be triggers for conversations at the local level to improve performance or to glean best practices from those media properties that are outperforming the company as a whole.
A key challenge with best practices 3 & 4 is that many media organizations lack the mechanisms to track co-op revenue performance, making it difficult to hold sales leaders accountable for co-op performance.
Sales organizations using CRM tools do better with tracking performance and holding managers and reps accountable.
“Those using CRM tools do better,” said Hall of the RAB. “Especially if there is a manager checking in who can say, ‘Hey I see you are calling on an HVAC guy, but I didn’t see anything in there on co-op. So what’s the deal?'”
This 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.