As it is now, digital co-op funds are being wasted, due to an inefficient system that busy partners just don’t have the time to participate in. In fact, 80% of local business partners find co-op funds critical to executing local marketing, but nearly half of them leave these funds on the table. This results in a lose-lose situation for both corporate brands and the local business partners, but how do we prevent it from happening?
Don’t panic, it’s completely understandable that local partners get frustrated with the program as a whole. If your local/regional managers don’t understand the intricacies surrounding your complex co-op program, chances are your current partners aren’t on the same page either. To increase program participation, increase your communication. Partners need to be educated on WHAT the overall desired outcome of the Co-Op program is, HOW it will be executed (from Billing to Marketing Campaigns), WHY your brand is investing in their partners and what you’re trying to achieve as an organization. A great marketing agency/partner can handle the entire communication process for you!
Here are some ways an experienced digital agency can help with communication:
- Digital co-op program guidelines.
A full-service agency can handle the high-level communications and educate your partners on all parameters of the co-op program. Simply knowing that there isn’t an excessive amount of paperwork to receive reimbursement can, at times, be the push they need to sign up.
- Billing & Approvals
Your full-service agency can eliminate paperwork, approval obstacles, and even handle all billing processes. It’s all about simplifying the process for both Brand and Partners.
- Brand Approved Content
Co-op advertising arrangements generally require the Partner to meet certain requirements set by the Brand. A full-service agency can help manage your content, creatives, and any copy-righted materials you wish to use.
- Marketing Strategy
There are a lot of agencies that can handle co-ops, but are they familiar with your industry and unique needs? You want marketing strategists who are experienced in your industry and a hands-on Google Certified team that supports them. Consistent two-way communication is key when the agency relies on your partners for monthly and quarterly strategies.
- Tracking & Reporting
Access to valuable insights is essential to any co-op program. You want to make sure that your money is working for you and your partners. Partner Analytics dashboards are critical, but great agencies also offer Sales Manager dashboards for Brands that allow for regional and national monitoring.
Ready to take your co-op marketing to the next level?