Starting the New Year Off Right with Co-op Advertising
January 10, 2019 | Contributed by: Courtney Dobson
The New Year has officially begun, which means it’s time to start organizing and preparing your client’s co-op advertising plans for the upcoming year. By putting together a strategy early on, you can help increase your client’s ROI on ad campaigns and better ensure their success in 2019.
In order to best serve your clients during this critical time period, it’s important that they first know and understand the benefits that co-op can provide, including its potential to provide them with the ability to run more ads and increase exposure.
The first step in creating a plan for your clients in the New Year is to pass out all of the necessary co-op paperwork, including authorization letters and request forms, to help gather the required information for obtaining manufacturer’s accrual balances. Accrual balances are the available co-op funding that the retailer/dealer has earned in direct correlation to the products purchased from the manufacturer.
Many co-op plans base the advertiser’s accrual balance on prior year purchases, so the beginning of the year is the best time to target these advertisers. When a balance amount is discovered, a proposal can then be put together detailing how it can be spent in 2019.
The Co>Op Connect database offers a few ways to better ensure your client’s success in uncovering accrual balances and taking advantage of available funds prior to their expiration date. Utilizing the database, users can view plans and promotions that are expiring and narrow them down by month, brand and even plans based on prior year purchases.
Another way to target manufacturer plans is to discuss with your advertiser any brands they have received co-op funding from in the past year. This would be a great start as the advertiser is already familiar with these brands and their programs.
To learn more about how you can help your clients make the most of their co-op advertising opportunities in 2019, visit https://coopconnect.com, call 877-990-COOP or email firstname.lastname@example.org for more information.