Attention To Detail
It’s been said that there’s much less co-op advertising money available these days than in the past, but those saying that aren’t the manufacturers offering the funding. Generally those comments come from media sales folk who aren’t seeing as much, retailers who aren’t buying as much, or media sales managers who aren’t devoting many resources toward it. Brand manufacturers continue to pump funding into these programs to drive local promotion and build store-level sales. The only reasons for less co-op money spent by brand dealers in the market are less purchase volume earning the co-op, possible turn-key offers from the brand for regional marketing, and the lack of support from the media level in assisting the local dealer with the co-op process.
As an example, the average auto dealer moving roughly 800 vehicles per year will have approximately $150,000 in co-op support from the manufacturer just for that new vehicle allotment (not counting anything for Certified Pre-Owned inventory or Parts and Service allocations). With that level of funding the dealer has many options in what and where to advertise and will generally have someone on staff to manage the workflow of approving co-op ad sand submitting claims for reimbursements. Many other businesses however have no such person to handle the co-op details and will often have their co-op monies expire simply because they have little bandwidth to deal with it.
Media companies have the opportunity with many local businesses to assist in the process of co-op to earn the dealer business and expand their advertising opportunities. Best practices with this are to have a designated sales assistant exploring brand programs for the sales team, providing ready-made materials for dealer presentation, and managing the details involved. Without that support, individual sales reps can try to assist local dealers where they can in just providing whatever co -op plan detail they have available and ask what help the dealer might need in making it happen. Generally co-op plan detail will include the appropriate manufacturer contact information for any specific details and the dealer will simply need assistance obtaining the creative approval of ads and the invoice/proof-of-performance requirement for claim submission.
There are always plenty of brand advertising opportunities with co-op advertising and no end to the amount of leads that can be developed by time frame, territory, category, etc.
Every dealer of brand name goods is a target for co-op sales…simply find out what you can and offer to help.
This information is provided by LSA Recas to help take the mystery out of co-op advertising. For more information on how Recas can help expand your brand advertising potential, please visit www.recas.com. Email Tim at email@example.com.