Business Breakthrough: The Truth About Co-Op Marketing
Monday, November, 3rd, 2014 at 9:48 pm by Mike J. Agugliaro
Hey. Mike Agugliaro here bringing you another episode of CEO Warrior TV. I just want to help you get another method of fast track. Today we’re going to talk about co-op. Oh, yes, we are going to talk about co-op because I know a lot of people out there do co-op with different types of suppliers and product lines, right? I want to just give you my feedback. Good, bad or indifferent, you’ll make your own decisions.
Here’s what I think about co-op. Now look, some pieces of co-op can make a good decision for you, right? But most of it, the co-op and the way they built it was really built for them, for the company to win because the more larger a company can brand themselves, the more power they get. Let me give you the flip side to co-op that might be something you haven’t thought about before, but why I don’t do a lot of co-op at all.
You see when you’re … let’s say I’m going to use … Well, I’m a Lennox dealer, right? We do whatever, 15 million in Lennox, so we’re a big Lennox dealer. I’ll talk about Lennox. I don’t do a lot of co-op with Lennox because what happens? Will I fix units that are not Lennox? Yes. Will I install a unit that’s not Lennox? Of course. I mean, we rarely do, but I would. If I’m marketing on a billboard, a postcard, anything and it says Lennox and you know you have a Carrier in your house or any of the 20, 50 other lines out there, are you going to call me? No.
As much as you’re saving money because co-op is kicking back money, the pool of fish that I’m fishing with is so much less. The only way you could really use this type of co-op is if it’s going to reduce cost of equipment or the program’s just a no-brainer, that it’s free co-op where you just throw it out there. In that case what you can do is you could take your market demographics if it’s existing customers which is really good. If you’re going to use co-op, throw it to your existing customers because they already know you, right? You’re never going to lose there because your existing customers aren’t going to go, “Oh, they’re not a Carrier.” They’re going to call you first anyway. If you’re going to use co-op, that’s the low hanging fruit.
The second thing is if you’re going to use co-op and you’re going to put it in a layer out there in a market, a demographic area, well you can grab that circumference of an area. You could layer in your direct mail and then use the co-op dollars as a secondary stackable method just to reinforce it because they’ll get your first message. They’ll see that. The second one makes the impact. Or you could do it in reverse. It doesn’t really matter.
There is ways to use co-op to your advantage and then there’s a way not. Most of the people have been using co-op wrong. They’ve been branding the company’s name, sending out the postcard. You have to use their promotion and they’re wondering why they’re spending money and not getting the results they want. Ask yourself what is the best way to do co-op, and I gave you a couple great examples and strategies that I use.
All right. We’re going to keep this one nice and short. I’m Mike Agugliaro wishing you a better and great day today. Boom! And every day, and I want to help you get tons of freedom, mass of wealth, market domination. I was a little out of sequence that time. Massive wealth, tons of freedom, market domination. Does it matter what sequence it is? No it doesn’t.