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Title: Grab Your Share of Untold Amounts of Advertising Dollars
Author: Kathleen Gage
Email:
kathleen@turningpointpresents.com
Word Count: 851
Copyright: © 2004 by Kathleen Gage
Web Address:
www.kathleengage.com
Publishing Guidelines: You may publish my article in your newsletter, on your
web site, or in your print publication provided you include the resource box at
the end. Notification would be appreciated but is not required.
Grab Your Share of Untold Amounts of Advertising Dollars
By Kathleen Gage
If you advertise in any way, the following information could show you how to
find and utilize untold advertising dollars you may not be aware of.
In the mid 80’s I was an account executive for a radio station located in Santa
Rosa, California. During that time I became very familiar with what is referred
to as co-op advertising.
Co-op advertising is a great source of advertising dollars. And there is so much
of it available to people, yet most people know very little, if anything, about
co-op dollars.
Interestingly, I was one of the only reps at the station who made sure my
clients knew about this benefit. The reason was simple, there was more work
involved in getting my clients set up, and yet, there was financial gain for
both my client and myself by taking time to help them stretch their marketing
dollars.
Co-opting is where you put in money for advertising and the manufacturer of a
product you sell also puts in money. Often it is as much as 50% of the campaign.
It is a great way to stretch your advertising campaign and to beef up your
campaign.
Unfortunately, even though the money is available if conditions are right, many
people either aren’t aware of this or if they are they think it’s too much work
to meet the criteria. Granted, in some cases it is, but often utilizing co-op
money is a great way to stretch your marketing budget.
There are many co-op-advertising opportunities available if you plan to do
advertising on the Internet. Not all are good investments though. Check
opportunities out very carefully before making a final commitment.
Using co-op dollars is an excellent way to build a stronger relationship with
your retail suppliers and to generate a lot more traffic in your store or on to
your web site. If the overflow of business is handled correctly you will
increase your sales and profits.
The great thing about using co-op dollars when you are dealing with standard
media is that your account rep can handle the paperwork for you. Many retailers
hesitate using the “hidden” dollars due to feeling intimidated by the paperwork,
the unknown.
Not only can the rep help you with the paperwork, they can also help you to
build the campaign. However, before you trust them completely, find out what
their experience is, what successful campaigns they have spearheaded and get
some references. Take the time to do some research upfront to save money over
the long run.
The reality is, if they are professionals in the truest sense of the word, they
will be more than willing to take much of the paperwork burden off of you by
handling it. After all, the more value an account rep creates for their clients
the greater chance for an ongoing business.
Co-op dollars are not limited to retail businesses. Often, there are hidden
dollars for non-profits. There are city and state funds that are set aside to
help various organizations increase their visibility and reach.
One nice thing about using co-op dollars from a large manufacturer is that brand
names do attract customers to your business—that's why you offer them.
Advertising specific well known brands will increase your foot traffic. Harley
Davidson has an amazing co-op program they offer to their retailers. It is a
primary reason they have done so well. They encourage advertising based on
specific guidelines.
It is to the advantage of an advertiser to utilize these dollars. Manufacturers
in virtually every industry want to help with advertising costs. They are very
aware that when you correctly advertise their brand name product you will
probably sell more of it, thus increasing your orders.
The disadvantage of co-op advertising can be the restrictions set by the
manufacturer. Often, they have such rigid guidelines about how to design the ad
that you may lose all control of creative expression. For example, their logo
may have to be positioned in an exact
location in order for them to co-op the campaign.
If you are working with someone who claims to be an expert at advertising and
they know nothing about co-op dollars they are not the expert they claim to be.
Be aware.
Areas that you need to be educated on are program terms and reimbursement
schedules. In some cases it can take months to receive reimbursement for a co-op
campaign. In other cases, the company you are cooping with will send the money
directly to the media source. Be sure to check this information out in order not
to run into a cash flow problem.
Advantages of co-op advertising
- Extra money to advertise
- Account executive can do the paperwork
- More frequency
Disadvantages of co-op advertising
- Restrictions by manufacturer
- No guarantee it will work
- Limited creativity in ad copy
Before making a final decision, research your options on co-op advertising. You
may be pleasantly surprised with what you discover.
About the author:
Kathleen Gage is a business advisor, keynote speaker and trainer who helps
others gain marketing dominance and visibility within their market. Get Gage’s
FR*EE report “Learn How One Salt Lake City Based Business Consultant Made Over
100k from One Idea” by visiting
www.kathleengage.com
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