17 Jun How to use Co-Op dollars?
So many businesses don’t use available co-op advertising dollars because they don’t understand how the program works. Don’t leave free money on the table! Media Venue works with several client’s co-op programs…we’ve seen it all! Top suggestions we make to our clients:
#1 You have to Ask!
Always ask your vendors if co-op is offered (they won’t chase you down trying to give you money) and what the details are behind the program. Some programs our complex (Media Venue can help you on this), but some programs simply require a logo be included.
#2 Understand the Rules
Call and ask questions to a “live” person. Emailing questions will only get you so far. In order to truly understand a program, have a conversation with a representative who can answer your questions, explain the program in full, email you further information. Keep that person’s name for future questions (because you know you’ll have them.
#3 Get Approval
Send creative for approval by the co-op vendor to ensure your ad includes the required criteria
#4 Track Fund Use & Approval
Always make sure you write down creative pre-approval numbers and claim numbers once submitting invoices. This will save you time if you have to reference at a future date!
In 2015, a study found that $14 Billion Annually in Co-op Marketing go unused don’t miss an opportunity to market your company at no cost to you! (Source)
Don’t have time to wrap your head around the whole “co-op thing”? Call Media Venue at 502-855-4780 and we can help!