Did you know Brands allot as much as 70 billion dollars in Co-op Advertising Funds each year?
Guest writer and OOH Today Advertiser,
Vincent J. Pannutti, General Manager
Camel City Poster Productions
Up to 48% of Co-Op Ad funds go unused…
That’s nearly 35 Billion dollars of FREE MONEY!
What’s the Deal?
How can all of this money go unused? The Answer?
Manufactures are not sharing their Co-Op opportunities as much as they use to. It is more difficult to be ‘in the know’ regarding Co-op. Often, Clients are unaware of what is available and the Out of Home sales force does not have a viable source to help guide them to the promised land. That has been the case until now.
In today’s world, we depend on technology to give us answers to all of our questions, we look to our phones more than our elders and pioneers, and few people go the extra mile to impress or stand out from the crowd. If Siri or Alexa does not have the answer, where do you turn? Google? When you Google Co-op Advertising opportunities, it doesn’t give you anything relevant or current.
How do we find out what is available?
What am I getting at?
What I’m saying, is that those who go that extra mile, can reap the benefits and excel in selling Outdoor. Using Co-op is one tool which is greatly underutilized, yet readily available.
Using Co-op is one tool which is greatly underutilized, yet readily available.
Most people from the Billboard AE’s to the client themselves, are uninformed on what Co-op advertising is, what is available, and how to use it. Including concerns like, collecting Co-op money. So why even bother, when there are too many hoops to jump through? The more objections that we present ourselves, the less likely we are to pursue opportunity. If the opportunity is too much work, typically people move onto something easier that we are more familiar and comfortable with. It’s the same with the client. Many of your clients don’t understand Co-op money and because of the required efforts, fail to dig in.
This is your chance to put yourself ahead of your competition. Be the person willing to do the grunt work. I promise you this, if you dig into Co-op and get comfortable with it, not only will your sales increase, you will have one of the most powerful weapons in a sales person’s arsenal… Knowledge and the How To! Learned once and that’s all it will take.
If your organization and sales team does not dig into who is providing co-op and how to present co-op, most of these opportunities go unnoticed and untouched. You do the digging and presenting for the client.
Pitch the opportunity to have their name on a billboard at little to zero out-of-pocket expense to them.
Here’s an example;
Let’s look at a local mechanic, we will call him Bob. Bob owns Bob’s Tires. Bob’s core business is oil changes and selling tires.…Bob uses Quaker State Oil for his oil changes and he sells a ton of Goodyear tires. Unfortunately, he does little to no advertising because he’s a small guy and doesn’t have the money.
Or at least that’s what Bob thinks.
When you walk in the door, get an oil change and ask to speak with Bob. Once face to face with Bob, talk to him about some advertising opportunities. When he says we just don’t have that kind of money available to advertise, play the Co-op card.
play the Co-op card
“I noticed that you use Quaker State Oil, did you know that they offer Co-op money when you advertise on a billboard? Sometimes they pay up to 100% of the cost!
“I also noticed that you sell Goodyear tires. They also pay up to 75% of the costs when you advertise on a billboard.”
“I would be happy to work on the paperwork on your behalf to file for the co-op funding. Let’s work on a campaign to bring you more customers with little to zero out-of-pocket expense. Since you will be getting Co-op money, you will want to spread out your advertising on several boards, using different manufacturer’s brands and their available co-op money. “ Now you are proposing a multi-board campaign instead of one poster.”
What have we learned?
First, anytime you go into a potential client’s place of business and you can buy something like an oil change, do it. Take the time while you are waiting, to speak to someone. Plant the initial seed about meeting to discuss OOH. Do your research prior to walking in the door. Have a full understanding of the available Co-op funds. Find out what brands are sold, who the owner or decision maker is and be prepared. Every face to face encounter is a business opportunity. Set a time to meet after your oil change visit but be prepared with your elevator pitch and don’t be surprised if you are invited to the office to discuss immediately.
Remember, the owner may not know what Co-op money is available. Find out what Co-op money is available prior to walking in the door, so you know exactly.
How do I find out what Co-op Opportunities are available?
This is where Camel City comes in, we work to provide you with all of the ammo you need to close this deal. We can provide you with all of the important details associated with the client and what co-op dollars are available. Camel City will provide everything from the corporate co-op contacts, percentages paid, paperwork, accrual info, guidelines, approval process and more! We have access to each corporation’s library of promotions and stock artwork. These services and information are available to all of our clients at NO CHARGE when you print your production with us. If we can help spur more Out of Home sales, we are doing our part to help grow our industry.
Camel City is here to help you from Design to Print!
Contact:
Vincent J. Pannutti, General Manager
Camel City Poster Productions
Office: 1-800-828-3226
Mobile: (336) 692-4275
www.camelcityposters.com
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