Is your Media Group or Agency utilizing co-op funds for your current or prospective clients? Each of your clients set a 2024 advertising budget in the last quarter of 2023 – perhaps you were even part of the discussion about how they want to be “presented” and “where.” You have the opportunity to double your client’s advertising without going over their set budget by using Co-op advertising funds. It does require a bit of extra effort as you need to get the advertising approved by the brand(s) you are promoting in their advertising. You also need to send your client claim documentation to prove the advertising went “live”. They can then send the documentation to the brand(s) to collect their reimbursement. You can be your client’s Rock Star and send the claim packages directly to the brand on their behalf.
So, what’s in it for you? Actually, there are two things – more money for you and a very happy client who will love your work. Let’s say they set an advertising budget of $200,000 for 2024. If you utilize the brands (and the co-op monies) available to the client, you can sell them $400,000 in advertising as they will get 50% (in some cases up to 100%) back in their pockets. They are happy they stayed within budget and you made additional money.
If you do not have the staff or co-op expertise in-house, we can certainly help with that. You would want to start by subscribing to our Co-Op Connect Platform so that you can see the thousands of brands that do offer co-op funding (along with their guidelines). Then we can help with some, or all, of the following:
- Train your reps on co-op advertising and how to incorporate it into the sales call.
- Research the store’s (your client’s) co-op funds and track them throughout the year.
- Assist with co-op ad design.
- Send all completed ads to the manufacturer for approval to ensure they comply with their guidelines.
- Create claim packages for your clients so they have what they need to collect their reimbursement.
- Provide 1 to 2 sales leads per day! These are promotions created by the brand themselves (buy 3 tires get 1 free) that you can use to tie into at the local level.
We also provide other assistance, such as conducting audits of your current clients to let you know what brands they carry and which of those brands are eligible for co-op funding.
If you’re looking for a seamless process with full-service support, Co-op Connect Concierge will accelerate and simplify every aspect of co-op advertising! We will work with you to manage the entire co-op process by doing brand research, obtaining accrual balances, submitting prior approvals, and obtaining necessary invoices, performance reports, and anything else required to prepare the claim package for you and your customer.
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