Challenge: Medical product solutions company faces new competition
A local medical product solutions company in West Virginia was partnered with a smaller hospital in its area. Suddenly, a larger local hospital opened its own medical supply store, introducing new competition to the smaller product solutions company.
Charter/Spectrum Northeast Division’s sales account executive Jenna Rabideau knew the medical product solutions competition would be fierce in the future. However, the smaller company had done very little advertising in the past. Previously, Rabideau had little success selling advertising to local hospitals. Luckily, Charter/Spectrum had recently started using AdMall Pro. After going through training, Rabideau was ready to use the system.
Solution: Utilizing co-op funds from numerous vendors
“I started thinking about co-op and how a hospital or similar type business might utilize it. I used AdMall to research different types of brands carried by medical supply companies,” said Rabideau. She thought she could help the local smaller company expand their ad budget with unused co-op funds that the director had never known existed. Rabideau met with the company’s director and used information gathered from AdMall to work out co-op accrual details. She then pitched individual advertising plans based on the amount of co-op money available for each brand.
Result: The solutions company more than triples its ad spending with co-op
The medical product solutions company had previously primarily used minimal newspaper advertising. Now, they buy cable TV, search and online display ads from Rabideau. The company’s advertising spend shot up from $12,678 in 2017 to $39,863 this year (a $27,185 increase)! “All I had to do was tell the client that I knew they had “free money” and were wasting it. I would then say I can handle it all (get accruals, do creative, get it approved, and submit it). They really can’t say no. It’s a win for everyone.”