RAB Insights

RAB Research Archive

Free Money Monday!

Imagine how different your prospecting calls would be this week if you knew that you had $5,000 in your pocket that you were going to give to one of your prospects to spend on advertising. Seems like a no-brainer, right? Who wouldn't want to see you if you had money to give them?

Stop imagining ...

Co-op advertising is the free money you are looking for. Each year, there are over $7 BILLION available in co-op advertising funds for local retailers, and sadly, every year about $3 BILLION goes unspent. You read that right, $3 billion just evaporates because we didn't go get it.

If you're interested in finding this money, head over to RAB.com and use the Sales Tools drop-down, then Prospecting, then Co-op. You will see the co-op directory home page. This is the perfect time of year to search for plans that pay 100% — that's free money, but they expire by the end of the year. So, here is how you search:

Use the advanced Co-op search bar. We've circled it for you. Put in today's date through the end of the year, and the "participation rate" is 100%. That means the money is there and the advertiser can use it without having to pay anything.

We searched this morning we found 154 co-op plans that expire at the end of the year. That's 154 prospects for you to call with free money in your pocket. That's just the partial list that is showing up there, but here are 154 co-op plans you can tap into.

CAUTION: Co-op is not a sales strategy, it's a funding mechanism. What we mean by that is that you should follow the 7 Steps of Selling. Meaning that you need a comprehensive Customer Needs Analysis and then create your strategy to help them achieve their objectives. But the cool part is that you already have a way for them to pay for the strategy. Co-op funding!

It takes time to put these plans in place so now is the time to get started. If you're unfamiliar with co-op, there is a video that explains the basics and how to search the directory right on the home page. We are also going to do a live presentation about co-op at Noon CT on Wednesday, October 5. Cashing In On Co-op is the name of the presentation, and you can register for free HERE.

We spend a great deal of space on these tips talking about how you can be a source of business intelligence and a resource to your clients. Money talks. There is 100% money available in the co-op directory, and you can be the resourceful person who shares that information with the client. It helps them with their marketing, and it helps you with your budget. It is truly a win-win scenario.

There's gold in that directory! Take a minute now and look for yourself. We are always looking for success stories, so if you have success using this approach, please email me here and share your story.

Think BIG and make BIG things happen!

Source: Jeff Schmidt, SVP