Co op marketing funds have played a significant role in the marketing industry since the 1980s. Yet, every year, between $14 billion and $35 billion in manufacturer co-op marketing funds go unused.
Cooperative marketing offers a number of benefits including increased brand awareness locally and nationwide. So why aren't distributors using their co-op marketing funds as often as they used to?
Why aren't businesses taking advantage of their co-op marketing funds?
Compared to the cooperative marketing of years past, today's co-op marketing is lacking in terms of affiliate adoption. For some retailers, certain campaigns may seem too complicated or overwhelming to handle.
This leaves manufacturers with a lot of leftover co-op money because they aren't able to find distributors willing to assist with advertising. Unfortunately, rather than attempting to fix their programs, some manufacturers will attempt to do their own MRO marketing, which may or may not work out so well.
This is because not everyone in the MRO industry has professional marketing experience and those that do may not have enough time in order to properly review their marketing campaigns.
What, then, is the solution to today's co op marketing programs? MRO marketing services may have the answer.
How can a co-op marketing agency help my distributorship?
When your business chooses to outsource MRO marketing services such as a co-op marketing agency, you're putting your cooperative marketing program into the hands of professionals who don't have to worry about running an MRO industry at the same time.
A co-op agency is able to create a cooperative marketing program that's well-organized, outlined, and understandable so retailers are more likely to agree to an affiliate agreement. This opens the door to multiple retailers and improves your chances to increase brand awareness.
Additionally, when you work with industrial marketing services, you can expect your business' digital marketing to improve alongside your cooperative marketing. This is because marketing agencies are experienced in what they do and are able to review your marketing campaigns for optimal success.
Co-op marketing funds often go unused by manufacturers and businesses, not because they're not useful but because manufacturers need assistance to build an organized cooperative marketing program. To learn more about how MRO marketing services can help your business, contact Rivet MRO today.