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VALASSIS.COM
© 2 0 1 8 V A L A S S I S | C O N F I D E N T I A L
L S A 2 0 1 9
Sales Potential
New Revenue Stream
Use the concept of co-op [both in revenue and ease-of-use] to attract new
advertisers, reestablish relationship with former customers and introduce
new product offerings to existing clients.
Differentiate Yourself
Are your competitors consultants or order takers?
Increase Ad Spend
Incremental dollars to get more media for your existing clients.
More Reasons to Talk to Your Client
There are many promotions, co-op plan details & other seasonal trends
that will allow you to revisit the advertiser throughout the year.](https://image.slidesharecdn.com/lsa19co-opworkshop-190304181315/75/LSA19-Co-op-Workshop-22-2048.jpg)
Uploaded byLocalogy
LSA19: Co-op Workshop
This document provides an overview of Doug McCoy's presentation on co-op best practices at DexYP. It discusses DexYP's co-op training process for sales reps, in-canvass support including contests and checkpoints, and co-op processing which involves assigning accounts to analysts who handle prior approvals and claim documentation.
LSA19: Co-op Workshop
- 1. The Art &Science of Localogy FEBRUARY 25-27, 2019 - DANA POINT, CA
- 2. Co-op Best Practices& Case Studies Workshop
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- 5. 1. Training 2. InCanvass 3. Co-op Processing AGENDA 5
- 6. We give aCo-op presentation during initial sales training – What is Co-op – How Co-op works – How to get brand information – How to prepare a call with Co-op – Who to contact with Co-op questions TRAINING 6
- 7. • Provide leadsto our Sales Reps – Revenue accounts previously marked for coop processing • List the current brand name with brand details – Revenue accounts NOT previously marked as a coop account • List the potential brand names and brand details – Non-Revenue accounts • List the potential brand names and brand details • Provide Co-op collateral and success stories • Provide in-canvass support for refresher Co-op training IN CANVASS SUPPORT 7
- 8. • Co-op contest(previous contests) – March Madness – Olympics • Canvass checkpoints – Resend the leads at the 50% checkpoint • Co-op analyst support – Can be reached by phone, email and chatter (IM) for questions on specific accounts or specific brands – Provide logo’s – Provide ad templates – Help with creating ad programs. IN CANVASS SUPPORT 8
- 9. • Two Co-opteams and 1 Co-op specialist – Three Yellow Page Co-op Analsysts – Three Digital Analsysts • Yellow Page Co-op Analyst – Accounts are assigned to an analyst when closed by sales – Send for prior approval • Co-op analyst makes logo changes if needed • If redo of ad is necessary the sales rep must be involved – Resend for prior approval if necessary – Send all claim documentation to client once product publishes CO-OP PROCESSING 9
- 10. • Digital Co-opAnalyst – Accounts are assigned to an analyst when closed by sales – Analysts submit prior approval – Change advertising to meet manufacturer specifications – Provide claim documentation for Co-op reimbursements • Co-op Specialist – Co-op training to our sales reps – Creates and maintains all Co-op collateral – Documents and shares success stories – Creates and runs Co-op sales contests – Provides Co-op leads to our sales reps 10
- 11. The Art &Science of Localogy FEBRUARY 25-27, 2019 - DANA POINT, CA
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- 13. © 2 01 8 V A L A S S I S | C O N F I D E N T I A L 13 VALASSIS.COM I N T E L L I G E N T M E D I A D E L I V E R Y © 2 0 1 8 V A L A S S I S | C O N F I D E N T I A L 13 VALASSIS.COM I N T E L L I G E N T M E D I A D E L I V E R Y Co-op Not something you sell, a way to help you sell more. Name: Jill Wright Title: Manager, Co-op/Brand Integration Email: WrightJ@valassis.com Date: 2/25/2019
- 14. 14 VALASSIS.COM © 2 01 8 V A L A S S I S | C O N F I D E N T I A L Agenda 1. 2. 3. Co-op is sales, not admin Data & Analytics to prove ROI Lead with client’s needs, not product. 4. You ARE the Expert L S A 2 0 1 9
- 15. 15 VALASSIS.COM © 2 01 8 V A L A S S I S | C O N F I D E N T I A L P O P Q U I Z What is Co-op? 1. 2. 3. Easy programs for retailers that doesn’t entail a lot of work. Partnership between a retailer and a brand to share the cost of advertising. Free money for the retailer.
- 16. 16 VALASSIS.COM © 2 01 8 V A L A S S I S | C O N F I D E N T I A L L S A 2 0 1 9 Don’t lead with your greatness Remember, if your media products aren’t right for the customer, it doesn’t matter how fantastic they are or who you serve. Valassis can deliver your message to over 116 Million Households in the U.S. We deliver to over 1Billion devices.
- 17. 17 VALASSIS.COM © 2 01 8 V A L A S S I S | C O N F I D E N T I A L My team makes my customer’s lives easier. LSA 2019 Customer’s Primary Obstacles: Too many rules; Too much paperwork; Don’t know what funds are available; Too little time to evaluate, Program changes too often and – Don’t know if I have co-op. We overcome 100% of these objections. And then, we sell the value of Valassis.
- 18. 18 VALASSIS.COM © 2 01 8 V A L A S S I S | C O N F I D E N T I A L WHERE THEY GO KNOW WHAT THEY LIKE WHAT MEDIA WORKS Continually optimize and measure performance. Data & Analytics provides unprecedented connectivity of data and a deeper understanding - unlocking greater personalization and ROI. A good story makes a promise that it will be worthwhile & lead you somewhere “Half the money I spend on advertising is wasted; the trouble is I don't know which half.” - John Wanamaker LSA 2019
- 19. 19 VALASSIS.COM © 2 01 8 V A L A S S I S | C O N F I D E N T I A L Solution Story – Drive Traffic Category: Home Furnishings & Accessories About Client National furniture dealer Client’s Objective • Client was facing declining newspaper circulation and fragmented • broadcast audiences. • Needed a solution to positively impact store traffic and sales. Strategy Collaboration • Performed database analysis of retail trade area identify primary and secondary neighborhoods • Designed integrated media campaign strategy which concentrated ad spend on highest performing neighborhoods and existing customers • Shared Mail Wrap ad was chosen for its broad reach capabilities followed up by Targeted Insert monthly Results Immediate increase in sales, jumping more than 20% vs. prior year Frequency was key to campaign’s success; 2x monthly schedule drove awareness to a broad audience while reaching high opportunity neighborhoods with targeting inserts SALES +20% “Our success is attributed 100% to the Valassis Shared Mail program. -- Retail Furniture Dealer LSA 2019
- 20. 20 VALASSIS.COM © 2 01 8 V A L A S S I S | C O N F I D E N T I A L Solution Story – Drive Traffic & Increase Sales Category: Home Improvement Stores About Client National grilling manufacturer Client’s Objective • Client wants to expand offering to new markets • Needed a solution to positively impact store traffic and sales. Strategy Collaboration • Established two core markets where there were multiple retail locations within store brand that the manufacturer wanted to target. • Create a test/control market and implement Valassis Digital campaign for a duration of one month. Results Immediate increase in sales, jumping more than 28% vs. prior year in sales. Also measured units sold, year over year transaction and more. SALES +28% Units Sold +51% LSA 2019
- 21. 21 VALASSIS.COM © 2 01 8 V A L A S S I S | C O N F I D E N T I A L L S A 2 0 1 9 Co-op is not an administrative function. If you are not dedicating sales resources to this initiative, you will fail. • Establish co-op sales quota • Hire experts • Remove pay competitiveness Est. Local Marketing Funds Available $77B Key Statistics Snapshot Est. Local Marketing Funds Used $37B Sales Potential
- 22. 22 VALASSIS.COM © 2 01 8 V A L A S S I S | C O N F I D E N T I A L L S A 2 0 1 9 Sales Potential New Revenue Stream Use the concept of co-op [both in revenue and ease-of-use] to attract new advertisers, reestablish relationship with former customers and introduce new product offerings to existing clients. Differentiate Yourself Are your competitors consultants or order takers? Increase Ad Spend Incremental dollars to get more media for your existing clients. More Reasons to Talk to Your Client There are many promotions, co-op plan details & other seasonal trends that will allow you to revisit the advertiser throughout the year.
- 23. 23 VALASSIS.COM © 2 01 8 V A L A S S I S | C O N F I D E N T I A L L S A 2 0 1 9 What does our Co-op Team Provide? Prospecting Tools & Expertise Prospect contact information Prospecting emails Sample prospecting scripts Valassis value proposition Custom Campaign Brainstorming! Manufacturer Co-op Plans & Insights Full Co-op Plans Pre-Approved brand ads Access to local dealers When the funds accrue & must be used Promotional & Industry insights Accrual and participation percentages Eligible media and which Valassis media qualifies Claiming letter/checklist for local retailer Utilizing a 3rd party expert, LSA, our co-op department Has access to almost 9,000 co-op plans, promotional Ideas, dealer locators and contact information.
- 24. 24 VALASSIS.COM © 2 01 8 V A L A S S I S | C O N F I D E N T I A L L S A 2 0 1 9 You are the Expert The picture can't be displayed. Valassis Category Analysis Valassis Analysis of trends in Furniture Co-op Advertising programs (393 Brands): • 42% of brands in the home furnishing category offer some level of local advertising support o 27 brands offer a formal program Three brands use a 3rd party agency to manage their program One brand offers a flyer program where dealers are provided a fixed number of localized sale flyers One brand offers an opt-in direct mail program where they pay for a fixed amount per dealer on a quarterly basis o Multiple brands offer an incentive marketing program o 41 brands offer a program but do not release details to non-dealers o 89 brands offer specially arranged programs o Six brands are in the process of developing a program • Accrual amounts range from 1-10% of purchases. Average accrual is 2.8% • Several brands vary accrual amounts based on: o Retailer classifications (ex: premier, gold, certified) o Product line purchased Valassis Retailer Audit
- 25. 25 VALASSIS.COM © 2 01 8 V A L A S S I S | C O N F I D E N T I A L L S A 2 0 1 9 Take-Away Points The picture can't be displayed. Co-op is not something you sell, it’s a way to help you sell more. The old way of doing business has changed, you need to PROVE value. If you treat co-op like an admin task, it will be. This is 100% sales driven. Pay as such and you will be rewarded. You know more than you think – share this knowledge. 1. 2. 3. 4.
- 26. 26 VALASSIS.COM Thank you The picturecan't be displayed. I N T E L L I G E N T M E D I A D E L I V E R Y
- 27. The Art &Science of Localogy FEBRUARY 25-27, 2019 - DANA POINT, CA
- 28. Roy Biondi, CourierCommunications
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- 31. Increase Controllable Revenues TLA’s SMB’s Digital SalesGoals/Expectations
- 32. Daily Leads Weekly Co-opInstant Money Makers Quarterly Reports Manufacturers/Categories found Manufacturers/Categories claimed Multi-Sales Targets
- 33. Local search maps Trackevery lead Sales calls Scheduled Appointment Follow up with Sales Exec Research/Locate/Track Targets
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- 35. Advertising SalesRep selects Target Accounts Schedule an appointment with a targeted account Present the co-op opportunity to the advertiser: FREE SERVICE: Inform the advertiser, that their use of the co-op service is free IDENTIFY: WE help the advertiser identify all their sources of co-op with a checklist specific to their retail category ACCRUAL AMOUNTS: WE help them obtain their accrual funds AD MATERIALS: WE create manufactured approved ad materials CLAIMING: WE prepare all claim work assuring the client accruals recieves in cash or inventory Multi-Sales Targets
- 36. Checklist Authorization Forms Vendor Numbers StrategicPlanning Session
- 37. Coordinator/LSA performs accrualresearch Create campaign with accrued funds Present campaign with approved materials E-Tear Sheets Client Acquisition
- 44. Controllable Revenue growth SMB’s TLA’s Digital Co-opSales Performance
- 45. Potential co-op with10 sales reps doing 2 targeted co-op audits per month. 10 Sales Reps x 2 targeted Co-op Audits 20 Co-op Audits per month 20 Audits x $4000 (conservative figure) $80,000 per month co-op sales $80,000 x 12 months $960,000 Co-op Potential
- 46. The Art &Science of Localogy FEBRUARY 25-27, 2019 - DANA POINT, CA
- 47. Suzanne M. Bailey,Los Angeles Times
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- 49. OBJECTIVE Generate market awarenessand drive more visitors for special events STRATEGY Leverage Los Angeles Times portfolio of print, digital and co-op assets to develop a vendor-supported special section TIMING 2019/2020 PRODUCTS Vendor Section Los Angeles Times Latimes.com Custom Publishing Co-Op
- 50. We offer anexclusive opportunity for Clients to partner with their vendors to fund custom special sections that are distributed with the award-winning Los Angeles Times and published on latimes.com. Daily Circulation: 417,936 Daily Readership: 1.2 million Sunday Circulation: 665,738 Sunday Readership: 2,006,463 latimes.com is the #1 local news, information and lifestyle site in the Los Angeles market. • 83 million monthly page views • 29 million monthly unique visitors The Los Angeles Times Custom Publishing Group can create a special section that increases brand perception and loyalty for your tourist attraction.
- 51. 4 Generate awareness witha high-visibility special supplement that tops the LA Times and reaches millions of print and online readers. Distributed to client selected zips and priced from $25,000. 20% paid by client & 80% paid by vendors etc. Print High visibility special supplement “topping” the weekday Los Angeles Times in select zip codes Glossy over-run of print version as a keepsake edition for client’s board of directors, special events, participating vendors etc. Digital Online version and “flip book” version published on latimes.com for 3 months. Aggressive promotional campaign on latimes.com directing visitors to the section. Vendor Support Sales Package We will develop the sales package, which consists of a cover letter, participation/sign-up agreement and section example . Sales calls to client approved vendor list (Builder, sub-contractors, business partners etc.).
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- 53. The Art &Science of Localogy FEBRUARY 25-27, 2019 - DANA POINT, CA
- 54. Scott Newton, Co>OpConnect
- 56. New Look! BetterExperience! BEFORE - Recas AFTER - Co-Op Connect
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- 59. Database Features over 8,000co-op brands with new plans added daily! New easier-to-use, cleaner interface New predictive search functionality Responsive design for use on any device
- 60. Advanced Search Features New &Improved Target co-op brands by state Easy-to-use category search Better functionality and interface
- 61. Promotions New co-op promotionsadded daily! Drive new customer acquisition Perfect for seasonal client businesses
- 63. Knowledge Base Everything youneed to sell co-op and help your clients through the process! Co-Op Training Tutorials Co-Op Sales & Support Guides Other Co-Op Forms & Resources
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- 66. Training Our super-specialized teamwill teach you how to do co-op!
- 67. Concierge We do theco-op for you and your team! Full Service Support Obtain Accrual Balances Submit Ads for Approval Prepare Co-Op Claims
- 68. Consulting Discover new opportunities andinsights! New Sales Leads and Dealer Lists Targeted Analysis and Customer Audits
- 69. Thank You! (248) 244-6221 scott@thelsa.org ScottNewton Sales Director
- 70. The Art &Science of Localogy FEBRUARY 25-27, 2019 - DANA POINT, CA
- 71. Co-op Best Practices& Case Studies Workshop
- 72. General Session Kick-off Todayat 3:30pm | Dana Ballroom
- 73. The Art &Science of Localogy FEBRUARY 25-27, 2019 - DANA POINT, CA