Use it or Lose it: Co-op Ad Dollars
November 8, 2018 | Contributed by: Courtney Dobson
The fourth quarter is a critical time for many retailers. And this year, according to multiple surveys, consumers expect to spend more and are shopping earlier.
But getting consumer attention and gaining visibility during this crucial holiday season can be challenging. That’s why local retailers need to take advantage of every opportunity to maximize their exposure – online and off.
Co-op can help provide that additional exposure to drive local visits and sales. But it’s important to be aware that most co-op programs require merchants to “use it or lose it.” Many programs will reset after the first of the year, which means any unclaimed co-op dollars or credit from 2018 will be lost on January 1, 2019.
Hearts on Fire, a diamond manufacturer whose products are sold at retailers throughout the U.S., for example, requires that 50% of co-op funds be spent from October-November during the holiday campaign period. Other brands may have similar guidelines.
Marketers looking to avoid missing out on these great opportunities for additional exposure and reach can utilize the LSA’s new Co>Op Connect program. The Co>Op Connect Database, which houses over 8,000 co-op plans, simplifies the process of identifying available co-op dollars and requirements. It dramatically reduces the time involved in discovering and utilizing co-op funds.
The program provides a customized-level of services and support, including:
- Customer strategy and planning
- Sales and marketing
- Ad opportunities and fulfillment support
- Claims, admin and accounting support