Find New Success with an Automated Co-Op Advertising Platform
There are a number of key concepts that should be used when creating and implementing a co-op program with your retailers, whether you’re using our co-op advertising platform or not. If you’re new to the concept of co-op (“cooperative marketing”), it can be broadly defined as the use of brand marketing budget to cover some or all of the cost of their retailers’ marketing efforts to help sell more of that brand’s products.
Convey the Value of Co-Op to your Retailers
Co-op marketing is a smarter use of your marketing budget in that it is used more effectively in local markets where your products are bought and sold. It’s easy for a brand to see the value in co-op, to see the connection between dollars shared with the effectiveness of local digital marketing. However, according to research by Borrell Associates, 35% of retailers don’t see co-op programs as valuable. Conveying the benefits of co-op will increase retailer buy-in; here are a few ways to do this:
- Utilize technology that creates a consistent way for local retailers to access available co-op funds, and educates retailers on how connecting dollars with local digital advertising guarantees a smart use of your marketing budget.
- Offer brand-curated marketing materials for retailers to use in cooperative marketing.
- Include digital advertising in your co-op program offering and promote the use of social advertising by your local retailers.
- Inform your sales reps so that they can promote the co-op program to the stores they interact with on a regular basis. Our co-op advertising platform offers educational webinars for brand sales reps, to help educate them on how simple and efficient it is to use Lynkem as a retailer.
Make Implementation Easy
It can be tough to get retailer buy-in if a co-op program isn’t easy to implement. Some co-op programs are simply a set rules or guidelines as to how the brand can be positioned or presented, which can be a bit broad, and leave a retailer wondering exactly what can or can’t be done. Borrell Associates found that 25% of retailers don’t even follow these guidelines.
Many brands offer pre-made advertising, which retailers can customize to drive traffic to their stores. Our co-op advertising platform makes retailer implementation easy; within seconds, retailers can launch co-op funded, brand-curated social media ads across their own social media platforms. These ads are automated to include a retailer-specific call-to-action, driving traffic specifically to the individual stores.
Use Co-Op Dollars in Digital Marketing
According to Google, 50% of sales are now digitally influenced. But Borrell Associates found that 50% of retailers don’t understand digital marketing. A brand co-op program that doesn’t embrace and promote social media marketing is missing an enormous opportunity to reach and influence consumers.
If brands are looking for an easy way to include social media marketing in their co-op programs, while controlling their brand’s voice and positioning online, Lynkem is the answer. Our co-op advertising platform also makes retailer buy-in simple, without insisting that they learn everything there is to know about social media marketing first.
Automate Everything You Can
Automation is the key to making co-op implementation simple. Offering automated reimbursement is the clearest way to improve a co-op marketing program. Through Lynkem, a brand can offer funds either before or after the running of a social media ad campaign by a retailer. This flexibility and our reimbursement automation eliminates the time-consuming invoicing process found in traditional co-op programs.
Lynkem has everything a brand needs to get their retailers involved in cooperative social marketing campaigns. Access to brand-curated marketing materials, deployment of co-op approved social ads, and advertising reimbursement is all available from a single co-op advertising platform, making retailer buy-in and co-op program implementation as simple as it can be.