Introduce Digital into Your Co-Op Program
The importance of digital marketing is clearer than ever, but finding the right co-op advertising platform to introduce digital into your co-op program may not be so clear. According to a survey conducted by Borrell Associates, only 69% of brand managers said their offerings include digital co-op. Social media marketing was only claimed by 37% of the brand managers as part of their co-op offerings. Unfortunately for those brands who are offering digital marketing options within their co-op program, 50% of surveyed brand managers say their retail partners don’t understand digital marketing, 25% don’t follow brand guidelines, and 23% need extra support in engaging with the program. So how does one introduce digital marketing into a brand co-op program in order to get the most out of it?
Communicating with your retailers is key. Make sure they understand the importance of adding digital marketing to their business strategy. Convey the benefits of using your co-op program to fund local digital marketing for your brand’s products. Provide guidelines to help maintain a consistent brand voice or image.
This level of communication, and ensuring that you’ve been heard by your retailers, may sound daunting. But it can be easily scaled when you use a co-op advertising platform that does most of the work for you! Our software makes retailer buy-in a cinch, since our team leads the charge on this communication with your retailers.
Very few retailers out there will have the time, expertise or equipment to properly photograph or video your brands products in order to market the products properly. Digital marketing expert Jeff Bullas reports that Facebook posts with photos receive an average 37% increase in engagement. Customers are becoming more and more likely to expect high-quality content from every retailer, whether they are independent or part of a franchise. The quickest way to help introduce social media marketing to your retailers is to offer brand-curated content for them to use to market your products.
Using a digital asset manager (or DAM) like Dropbox is a great option when it comes to providing your retailers with your creative content. Our digital asset library has joined the convenience of Dropbox storage with the secure login to our co-op advertising platform – no more untraceable link sharing!
Nothing will make it easier for your retailers to (A) buy into the use of co-op dollars for digital marketing, (B) use high-quality creative content, and (C) maintain your brand’s marketing persona, than providing everything they need to launch co-op funded digital ads with the click of a button. Our co-op advertising platform allows you to build social media ads for your retailers to launch into their local markets, all at scale. In addition, we’ve built a co-op manager into our platform that allows brands to assign co-op dollar amounts to retailers, and either provide funds ahead of time, or reimburse retailers after seeing the results. All from one dashboard.
If you’re ready to bring your co-op program up to speed with the inclusion of digital marketing in your co-op program offerings, don’t hesitate to reach out to schedule a demo, and see how our co-op advertising platform can help you take the next step.