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SALES PLANNED ADVERTISING Co-op Training Module Subject 1 Induction training – Co-op for the new salesperson Prospecting and planning for Co-op leads – who to see and when 1 hour Establishing the need for a co-op funds search Using a presenter to introduce co-op – how? Overcoming retailer objections to using co-op funds Writing successful co-op sales letters 1 hour Using co-op to develop classified cols 2 3 4 5 6 7 Session Length 3 hours 1 hour 1 hour 1 hour 1 hour Module Subject 8 How to develop co-op funds for a retailer from his manufacturer by phone Reimbursement – how to explain it to a retail client successfully Closing the co-op sale 1 hour Presenting the findings of a co-op fund search to a retailer Presenting a manufacturer lead to a retail client Selling co-op into planned advertising campaigns 9 10 11 12 13 Session Length 1 hour 1 hour 1 hour 1 hour 1 hour Module Subject 14 Selling co-op against our competitors using market research 1/2 hours Creating co-op ads that sell-visuals / artwork / testimonials 1 hour Buying and merchandising – how does it work? 1 hour How does this help get extra co-op support? 1 hour Working with wholesales/distributors to win extra co-op funds 1 hour Co-op blockbusters 1 hour 15 16 17 18 19 Session Length 1. Name of a retail prospect (fictitious or real) 2. Type of business 3. Number of years established 4. Typical customer type/profile 5. Why they specifically need co-op funds (ie. what job do they want those funds to do for them) 1. The name of their client 2. The type of business 3. Number of years established 4. Typical customer type/profile Question: Who is likely to be controlling the allocation of co-op funds to retailers? Answer: Area sales manager / rep Question: If your retailer knows his manufacturer rep / manager wants to sell him more products to get his target when does he have the most negotiation power to ask for co-op funds? Answer: When he is about to place his order for the next season / sales period Question: What happens if the retailer asks too late for co-op funds? Answer: All spent or allocated elsewhere Question: So what do we need to know before we see a client for a co-op fund search? Answer: Whether he is a good prospect for co-op (eg. he is trying to build his image by tying in with his manufacturers brand names and also when he buys products from his manufacturers Co-op advertising is image building and product moving advertising for a retailer linking his name with the manufacturer’s well known brand name. Best Retail Co-op When do they buy from their manufacturers? (eg. a season in advance) 1 2 3 4 5 6 7 8 9 10 11 12 Electrical goods September/October Fashion Autumn/Spring Gardening End of December Furniture / home furnishings Spring Sport Autumn/Spring DIY / home improvement Autumn/Spring Opticians Autumn/Spring Security / crime prevention Autumn/Spring Computers Late Summer/ January/February Mobile communications No pattern established yet Agriculture Autumn/Spring Holidays/travel Late Summer Using Co-op to develop classified columns The objective of this module, as with all training modules, is to develop trainees’ skill and knowledge in an interactive way at selling using co-op as a sales tool. For classified sales people, there are two key hurdles to overcome with regard to co-op: 1. How can you introduce co-op in telephone sales presentations more easily? 2. .Small and often in classified is often as effective or sometime more effective for manufacturers and retailers to move produce through the point of sale rather than the one-off display feature style co-op promotion. The classified sections of our newspapers offer a unique directional tool for retailers and manufacturers so there is no need to compete with display. Question: What do you find most difficult about introducing the concept of Co-op in telesales presentations? Answer: i. ii. iii. iv. v. It is difficult to picture showroom/shop Don’t know which manufacturers’ products retailer stocks Retailer doesn’t have a lot of time to talk Retailer doesn’t want to give out what he considers confidential information over the telephone and thinks I am prying into his business Getting the list of his suppliers, it all takes a long time by telephone and fax. Why is classified such a good platform for Co-op advertising? We all know the benefits of classified as an advertising solution. Let’s look at what makes your retail advertiser a good prospect for a co-op ad in classified You see a national branding campaign for a manufacturer and you know your retail advertiser is a local stockist who already advertises with you in classified. Your retail advertiser may be the sole stockist for a manufacturer’s product or a product range in your area so the Area Sales Manager will want to direct customers to his point of sale. Your advertiser may not have a showroom or shop but still sells a manufacturer’s products (eg. beauticians who work from home visiting clients) Your advertiser may be the only local independent stockist in the area who has to compete with multi-nationals who use the news pages of your newspaper. Some helpful questions to ask Why does ‘X’ manufacturer choose you as his stockist? Where is you nearest competitor? How many other stockists does ‘X’ manufacturer have in this area? Which product lines do you stock exclusively for them? How do customers know you are the stockist for ‘X’ manufacturer? When does ‘X’ manufacturer do any national or TV advertising? How does your local Area Sales Manager for ‘X’ manufacturer help you sell product through to your customers? Don’t forget to ask: The name of the Area Sales Manager and the telephone number If the retailer has an identification number or reference the manufacturer will know him as If a wholesaler or distributor is involved in his product purchase channel. This will of course mean contacting them first of all. Summary By asking some of the above questions, you are leading your advertiser to realise that there is a need to promote himself as a manufacturer’s stockist.