You need to spend that hard earned co-op on a monthly basis or risk losing it. The easy way out is to spend it blindly on advertising mediums that are easy to use with a generic “carrier” template. The real measurement here is not going to be how attractive your ad looks, or whether it is well written, but whether or not it works. One of the biggest challenges dealers face is how to improve their advertising results without spending additional funds.
What can you do to make sure you a get a great response with your ads?
1. Focus your resources on prospects within the buying radius of your stores. You can’t sell everybody……so stop advertising to people who may see your ads who are simply too far away from your store to consider buying.
2. Target the right people. You don’t want to try to sell post-paid service to people people who can’t pass carrier credit. It’s not only a waste of time and money, but can have a demoralizing effect on both your customers and sales people. Make sure your advertising is reaching the right people….who are most likely to pass carrier credit. Remember, your next customer will look a lot like your last customer.
3. You need a big idea. With the slew of wireless advertisements consumers are hit with each day, your advertising must stand out, or your results will suffer. Are your ads more compelling than your competitors? Do they get the consumer to take action? One way to do this is to offer a “gift with purchase” incentive, to differentiate your ads and provide the consumer with a reason to buy from you.
There are inexpensive ways for you to offer items like a “Free DVD Player” or “Free MP3 Player” with activation. Make sure that big idea speaks to the consumer in the creative message of the ad as well.
4. Make them an offer they can’t refuse. The offer is not the fact that you have the lower prices, or the best service. The offer is the extra something that gets people to come to your store, call your 800#, and buy today!……like the Free DVD player mentioned above.
5. Credibility is key. Even if you’re a carrier you need to prove your points and establish trust. Always make sure that your entire sales force is well trained to handle responses from your advertisements, and are ready to field any question from your offer.
6. Measure your ROI. Probably the most important part of growing a successful business…..being smart about how you spend your dollars and knowing what works and what doesn’t. The best way to do this is to subscribe to an 800 tracking service like
800 Co-op Response. It will show you your response rates, and help you “keep score” so you can improve your efforts each and every month. You should also measure your conversion rates; How many people responded the ad, how many came into the store, how many came in & passed carrier credit and bought. It’s nice to generate a great response, but if no one passes credit you are killing your business.
7. Use Experts. Every time you send out Direct Mail, Print Advertising or even e-mail you are sending a sample of your company. You may think it’s just an “ad” but it may be the only part of your company that people will hold in their hands. Before you trust your valuable co-op dollars in the hands of any agency or individual, make sure they know what they are doing, and have a complete understanding of the wireless industry.
