It is not enough for a manufacturer to create a product or for a retailer to open its doors. Marketing and advertising are critical for promoting brand awareness, and this can get interested customers into a retailer in big enough numbers to make a profit. This can be done by a number of means, ranging from co op marketing and getting co op marketing funds to industrial marketing and online marketing. Hiring a co-op agency can go a long way toward making an effective ad for a store and the brands found inside, so having co op marketing funds can be very helpful. If a company can raise co op marketing funds, an effective ad campaign may be just around the corner.
A Co Op Marketing Plan
Co op marketing funds can be raised when a retailer wants to make an effective ad with the help of one or more manufacturers and their brand name. In short, two heads are better than one. It is a common practice in American business today to outsource labor for specialized projects, ranging from advertisement to IT solutions to hiring employees. Raising co op marketing funds for a cooperative advertisement is no different. Videos such as ads have proven effective many times. Wyzowl’s Video Marketing Statistics found in 2018 that 81% of businesses, a great majority, currently use videos as a marketing tool. Similarly, a huge 97% of marketers have said that using videos has helped increase user understanding of a product or service being offered. No wonder so much funding, such as co op marketing funds, is used to promote brand and retailer awareness.
The typical arrangement is for a retailer to reach out to one or more manufacturers to jointly create an advertisement. The manufacturer will fund part or all of the ad, in exchange for their brand name being prominent in the ad itself. This can create an ad that would be challenging for the retailer to make alone, and the manufacturer gets the benefit of brand advertising. Such a joint ad will, if effective, boost sales at the retailer and also promote the brand name, making it a mutually beneficial venture for everyone involved.
Video advertisements can be seen in a number of mediums. The traditional channel is through television advertisements, and this has long since proven effective. But now there are more options as well. A company’s website may include ads for major brand names offered in the retail stores, or the manufacturer’s own website will contain these ads for customers to see. Someone who may be interested in a certain brand of product will see that ad and thus buy the item in the store, benefiting the retailer and manufacturer alike. But company websites are not the only option; social media, such as YouTube, has proven useful for more than amusement. Many people consult YouTube for more serious work as well, such as instructional videos of all kinds, or looking up something to buy. Ads and dedicated videos on YouTube alike can be a whole new method for brands to promote awareness of their product.
Social media has another use as well. These platforms are designed so that users can release new content at will, and all of their followers and friends can see what is being posted. This is most often used by private citizens, but retailers and brand names can do this, too. A company’s social media presence on Facebook, YouTube, or Twitter, to name a few, can act as a hybrid between a regular account and a company website. In this way, a company can, at any time, release new content for many potential customers to see. A television ad may be missed if a person is watching, but someone browsing Facebook or Twitter can see material that is hours old with ease. Here, a company can view new posts from the company that may advertise new items. Or, those posts may raise awareness of an upcoming or ongoing sale, discount, clearance sale, or new item in stock. What is more, these business social media profiles can post polls and also respond to customer questions and concerns quickly. Customers often appreciate a company’s prompt response on social media.