A Simple Way to Find Co-op Funds You’re Probably Missing
January 25, 2019 | Contributed by: Courtney Dobson
There’s an estimated $70 billion in available co-op funds; however, roughly half of that (~$35 billion) goes unused each year. An LSA survey of nearly 200 marketing and media professionals showed that the most common reason or obstacle is showing a client the specific co-op opportunity for them (42%).
The same survey also showed that 64% of marketers “sometimes, rarely or never” research co-op programs when selling media to local businesses. This comes despite the fact that 51% report that co-op advertising is “important” or “very important.”
Is lack of co-op research leading to missed advertising opportunities? It would appear so.
Researching co-op plans is a huge component of the process. It’s important to know all of the plans available for each category of your client’s business. Often times, research is conducted within broad verticals, like automotive, sporting goods or toys, or for big brands like Ford and John Deere. Frequently smaller sub-verticals or categories are overlooked.
The Co>Op Connect platform can help uncover relevant sub-categories/verticals by guiding you through the research. Within the database, users have the option to target each manufacturer by category, from agriculture and beauty to housewares and jewelry.
To target a search by category, users can click the “Targets” option located in the primary navigation bar at the top of the page and select “Target By category”. Users also have the option to target by month, top manufacturers and more.
When a particular category is selected from the left side panel, a content list will appear that highlights more specific categories under that heading. As seen in the below example, if you search for co-op plans within “home improvement,” the section populates with additional individual sub-verticals, like hardware and lighting. Utilizing this feature, you can better zero-in on otherwise potentially “hidden” co-op dollars in all different categories.
To learn more about how you can help your clients discover their unused co-op ad dollars in verticals of all kinds, visit https://coopconnect.com, call 877-990-COOP or email email@example.com for more information.