Promotion is more important than ever these days, and most manufacturers and distributors have funds available to help you go after the prospects you so desperately need, using a technique called “co-op promotions.” Some pay up to 90 percent of the actual cost! And you aren't limited to using only radio, TV, or print ads. Creativity can get that same chunk of cash transferred to your account to do things like mailings, trade shows, customer luncheons, golf outings, a fishing contest, or a weekend escape. Be creative and go out and claim these free funds.
ACTION ITEM
Catalog every major brand and customer you deal with and aggressively go after any “co-op” funds that may be available. Make yourself a sign that says: “Claim It or Lose It.” Because, if you don't get those funds, someone else will!
Harry was an aggressive retailer who loved to promote his business and go after prospects, especially with other people's money. He kept a log of every supplier and pushed every manufacturer about what spiffs, co-ops, and promotion money they had available. He just asked and asked and asked again. He was relentless. He befriended many of the sales reps who called on him and learned if they had discretionary dollars. By being friendly and asking often, he got the promotional money to go out and get new customers.
TAKEAWAY
Remember, if you don't ask, you'll never get!