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Selling & Unlocking Digital Co-op With Thunder CMP


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Selling & Unlocking Digital Co-op With Thunder CMP

Copyright 2016 Thunder Industries

Published in: Marketing
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Selling & Unlocking Digital Co-op With Thunder CMP

  1. 1. A Guide To Selling and Unlocking Digital Co-op Thunder is a creative management platform, an HTML5 based solution for building display ads
  2. 2. Table of Contents Understanding Co-op What is it all Worth? 5-Step Strategy to Selling Co-op Selling Co-op Example Setting up for Success
  3. 3. What is Co-op? Defined: A joint venture between a manufacturer and a retailer whereby the manufacturer will reimburse the retailer in part or full for advertising expenditures Who Benefits? Sales Reps Local Advertisers Manufacturers
  4. 4. Manufacturer Benefits Local Advertiser Benefits By providing co-op funds to local advertisers, manufacturers are able to get brand exposure, as well as local footing in market without having to run campaigns themselves For local advertisers, co-op marketing is a wise advertising strategy. It is advertising at a lower cost. By teaming up with manufacturers, local businesses are able to gain big brand association and get financial support at the same time Local advertisers and manufacturers aren't the only ones who benefit from co-op marketing. Sales reps can make more money and hit their digital goals. It is often an "easier sale" since advertisers can be reimbursed for their advertising Sales Rep Benefits
  5. 5. What is it all Worth? AT LEAST 40% OF IT, $14 BILLION GOES LEFT UNUSED A recent study by Netsertive and Borrell Associates reports co-op programs totaling more than $36 Billion in what is essentially free money Why is all this money being left on the table? Advertisers are not aware of current co-op programs Misalignment between brands and local advertisers Local advertisers do not have enough resources to take advantage of co-op A 2015 Borrell study showed only 15.5% out of 3,741 local advertisers are currently participating in co-op programs
  6. 6. Getting Started Considering all the benefits tied to co-op advertising, and the amount of money that is left on the table year after year, why not start taking advantage of co-op? Whether you are a co-op expert or just getting started, Thunder Co-op Advantage has developed a 5-step strategy designed to help users of all levels start selling co-op today! SIGN ME UP!
  7. 7. IND NLOCK AVIGATE EVELOP UPPORT F U N D S Introducing ... FUNDS A 5-Step Strategy to Selling Co-op
  8. 8. FIND Available Co-op Plans Before pitching co-op to local advertisers, you first want to locate available co-op plans that are relevant to them. Pro tip: Some advertisers will carry multiple brands, and with each brand having their own co-op program, there is potential for a bigger sale! Think big brands! Most manufacturers have co-op programs, and those with big ticket items such as automotive, appliance and HVAC brands may have more co-op funds available. Active co-op plans can be found multiple different ways. If you have access to a 3rd party co-op facilitator such as LSA, AdMall or Recas, utilize their brand search tool. Working without a 3rd party is just as simple. Approach an advertiser and request they contact their local manufacturer rep for opportunities within the brands they carry.
  9. 9. UNLOCK Co-op Dollars How do local advertisers find out the amount of co-op dollars available to them? Co-op dollars are accrued. The money a local advertiser earns for co-op advertising is typically based on the amount of purchases they have made from a manufacturer. Dealerships and local advertisers typically have a unique vendor or account number which you can leverage to help find out how many dollars they have available. Help local advertisers UNLOCK co-op dollars by working directly through the advertiser or through their district or manufacturer rep. How do local advertisers earn co-op dollars?
  10. 10. NAVIGATE & Pave the Way Once you've found active co-op plans, and unlocked the dollar amount available for an advertiser, now it's time to lead the way through the ever-changing world of co-op advertising. Pay attention to co-op plan and dollar expiration dates and plan ahead. Keep a lookout for any promotion specific requirements and make ad creative changes accordingly. Check co-op plans and available funds for all brands an advertiser carries. Create spec ads to complement your sales pitch.
  11. 11. DEVELOP A co-op campaign plan You've paved the way! You have the active plan and the amount of co-op dollars an advertiser has available for use. Next, develop a campaign plan. Be more than their sales rep, be their marketing consultant! Develop a plan that fits the advertiser's needs. Find out what their current monthly advertising budget is, who their target audience is, and if they have a prime selling season that falls within the active plan dates. Present a campaign schedule combining what they currently spend as well as their available co-op budget. Always present the most beneficial campaign schedule possible for the advertiser to gain visibility, and in turn leading to more units sold.
  12. 12. SUPPORT Local advertisers throughout the claiming & reimbursement process Local advertisers need as much support on the co-op front as you can provide them. Once an advertiser has given the go-ahead to run a co-op funded campaign, all ad approvals for the campaign need to be sent to the co-op administrator for that manufacturer. With all the guidelines from the co-op plan at your fingertips, you can provide the advertiser with a feel-good message. You know who the correct contacts are, what the plan and claim requirements are and what the advertiser will need in order to get reimbursed. Plus, by offering advertisers great support, it is more likely that you will also get a renewal sale!
  13. 13. Let's put what we just learned into action, using Bob's Appliance Store as an example advertiser
  14. 14. FIND Available Co-op Plans Finding co-op opportunities for Bob's Appliance Store can be as easy as looking around at what brands Bob sells. Each brand has their own co-op bucket of available funds. The amount of funds Bob has available will most likely be tied to how much product he purchased from each manufacturer. For this example, Bob sells Jenn Air and Maytag products We've determined the products sold at Bob's appliance store. Next, let's locate the active plans. Help Bob contact the district or manufacturer reps for each brand. In Bob's case, both brands have funds available Alternatively, if you have access to a 3rd party provider you can also leverage their brand search tools to pull up the current plan details
  15. 15. UNLOCK Co-op Dollars Pay extra attention to fund expiration dates. It's January and Bob's $2,500 will expire at the end of June. Use this fact to create urgency in the sale Pro tip: When reaching out to a manufacturer and/or district rep it can often be beneficial to have Bob reach out directly. Since he is the direct customer, chances are he may receive the information faster Using the vendor or account number associated with each manufacturer for Bob's Appliance Store, unlock the dollar amount available to use. In total, Bob has accrued $2,500 of extra ad spend
  16. 16. NAVIGATE & Pave the Way We found the current plan and the amount of co-op funds Bob has available. Now let's double check the plan, and the design and claim requirement fine print. In Bob's case, each ad must include specific brand logos, text and current product promotion. Using a Thunder Co-op Advantage ad will also give Bob the opportunity to promote his own store After reviewing the plan and the design and claim requirements, present all the information to Bob in a clear and straightforward format. The extra review will help keep Bob rest assured his campaign will run smoothly and he will get reimbursed Keep the administrator contact info for Jenn Air and Maytag handy as this will be who you need to contact for pre-approval, submission and claiming
  17. 17. DEVELOP A co-op campaign plan It's January and Bob's hottest selling period is February through June. Bob usually spends $1,000 per month during this time period You found $2,500 in available Maytag co-op with 100% participation. The co-op money is set to expire at the end of June $2,500 in available co-op divided over 5 months, is $500 per month in new advertising. Put together a 5 month schedule combining what Bob spends currently as well as the $500 in available co-op
  18. 18. SUPPORT Local advertisers throughout the claiming & reimbursement process Bob has given you the green light to run a co-op funded campaign. Now it's time to get everything together, starting with pre-approval. Review the plan or find out from the district rep where to access pre-approval forms and who to submit them to Follow the claim requirements listed in the co-op plan. Often times, manufacturers will request a paid media invoice and sample of the ad. Every manufacturer is different so be sure to follow the instructions closely Lock in the renewal sale for the next round of funds After the campaign has run its course and the correct information has been provided for claiming, Bob will be reimbursed for his co-op campaign. Similar to claim requirements, reimbursement periods can vary by manufacturer. Provide Bob with the expected delivery date and form for his remibursement
  19. 19. But wait...there's more! As an added bonus, here are a couple extra pointers to help set you up for success. Next time co-op advertising leaves you feeling a little overwhelmed, just think of FUNDS.
  20. 20. Setting up for Success Build All At Once Thunder co-op Advantage ad designs are automatically built in both desktop and mobile ad sizes Make It Personal Thunder Co-op Advantage ad designs are built per manufacturer specs, with additional room for local branding
  21. 21. Pre - Approve Follow Claim Requirements Reimbursement Setting up for Success In all cases, pre-approval is a good idea. It ensures the ad meets specifications and that the retailer will be reimbursed. Leverage your 3rd party provider or manufacturer district rep for pre-approval forms. After the ad schedule has been run and invoiced to the advertiser, most manufacturers will ask you to submit your co-op claims. Similar to claim requirements, the co-op plan will list out the specifics including how and when the retailer will get reimbursed. Abide by the manufacturer's claim requirements. Claim requirements generally ask for the advertisement or sample screenshot. The co-op plan will specify these items.
  22. 22. Remember... to start selling co-op, think of FUNDS and you will be on your way to successfully selling co-op! SALE Good luck with your next Want more? Visit Thunder's support portal to access additional materials!
  23. 23. Thunder is a creative management platform, an HTML5 based solution for building display ads