Even those with very little experience in advertising know running ads can get uite expensive. There’s the cost of designing, copy writing, placing ads and tracking ads. The bill runs very high sometimes. However, there might be money available to help you with your advertising expense. It’s called Co-Op (cooperative) Advertising.
Co-Op ads are those that highlight a specific manufacturer (usually) in addition to your business. I’m sure you’ve seen them before. For example, McDonald’s will run a flyer in the Sunday newspaper featuring Coke as a part of a combo meal. When McDonald’s does this, Coke picks up part of the expense for those ads. McDonald’s and Coke work in cooperation to promote both products.
How does it work? Many manufacturers set aside a certain amount of co-op funds each year in order to give some help to those who sell their products at the retail level. By helping you promote your business, the manufacturer is also helping to promote his product. It’s a cheap way for the manufacturer to pick up some additional exposure.
This type of program also applies to specials and sales. I’m sure you’ve noticed that most computer manufacturers offer discount or free printers in their packages. The maker of the printer and the PC company are producing co-op advertising in order to promote both products. In return, they share the ad expense.
Each co-op plan is a little different. Normally the manufacturer will set forth stipulations as to how many times their name or logo should appear in the advertisement, what frequency the ads should run, and perhaps one or two other guidelines. You may be required to get approval prior to submitting ads to the media. Once the ad has run, simply send a copy of the ad, along with your invoice, and you’ll receive a portion of what you spent back in return.
Co-op ads can apply to any business. Perhaps you offer an on-site car detailing service. You might check with the manufacturers of the soap and wax you use. These companies could very well offer you co-op funds for including their name and/or logo in your advertising pieces.
If you own a restaurant, definitely check with the beverage distributor you use. Most soft drink companies offer co-op funds.
How much will you save by working in cooperation with other companies? I have seen some outfits that pay as much as 75% of the ad cost. Most pay between 35% – 50%. That’s quite a bit of savings.
If your company sells products made by other manufacturers, you may very well have co-op money available to you. The best way to find out is to ask. Usually your manufacturer’s representative will know who you should call to find out the details about any co-op programs they offer.
Sound too simple? Well, you do have to play by the rules – and co-op advertising will not be available to everyone. If you find a program you are eligible for it would certainly benefit you to participate.
So what if you don’t work in conjunction with any manufacturers? You might try creating your own co-op advertising program. For example: if you are a landscaper, try approaching some lawn care maintenance companies in your area. Because you both are aiming for the same target audience (but for different reasons) this would be a perfect match.
Your ads could list the benefits of having the lawn professionally designed, and then maintained by the lawn care firm. The two companies would split the cost of the ad, saving both a good deal of money.
Whichever direction you choose to take, co-operation in advertising always benefits those involved by creating greater exposure and drastically reducing ad costs. Be a savvy advertisercreate or participate in a co-op program before your next ad goes out.
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