COOPING

There are some things that business owners unknowingly over look and one of them that could save them money on their marketing is coop.

A lot of businesses think that coop is only available if you run a franchise but that is not always the case. If you carry products that come from other companies it is well worth the time and trouble to find out if they offer coop.

Defining coop is pretty easy and most of the time all you have to do is include the product in your ads either by their logo or the product itself and then all you do is fax or email a copy of the ad to the company and they will reimburse you a percentage on your ad. Most companies have a set limit that you can spend and you have to use it up before the end of the year or you lose it. So what I advise any of my clients that use coop when setting up a budget for them is that they put most into October, November, and December and smaller amounts in throughout the rest of the year. I also remind them to follow the companies guidelines to the letter because if you don't then they will not reimburse you. Any company that offers coop usually will reimburse you either monthly or quarterly, but you can be looking at up to 50% of your marketing to be reimbursed depending on the company you are dealing with and their guidelines.

How do you find out about coop for your business? Depending on your business and what you offer and who you purchase your merchandise through you may have to call each business individually to find out if they offer coop. What I tell my clients is to sit down and go through and see what your best sellers are and what company you go through and start there. Companies do not offer this information to businesses and believe me when I say it is worth your time to call and find out, the worst that can happen is that they will tell you no. Some companies may have unreasonable guidelines for their coop but it is up to you to decide whether you want to do coop with them and if it is going to worth it in the long run.

Sometimes it isn't worth getting the coop from the company because they just expect to much or they offer a very small percentage that won't help you out as much as you need or want. Again it is up to you the business owner what your requirements are. Cooping is a double edged sword so that is something to keep in mind so make sure that the guidelines, and the percentages are going to work for you as well as the company you are getting the coop from. If it doesn't work for you you don't have to sign up for it, and keep in mind that you have to use all of the coop that is offered in a year so don't try to sign up with only a few months left to use all of your coop this is something that I suggest getting started in Jan so you have at least 11 to 10 months to use the coop and get all the benefits that it has to offer. Some companies will pro-rate your coop but some do not and that is a question to ask if you want to get started with them.

Cooping is a helpful way to do marketing partnering you with a company you do business with and it can save the small to medium business owner money.

Here is something that non-profit businesses don't know about cooping, you can and should talk to companies that you do business with about cooping and see if they will offer it to you, if they will you will not only get your non-profit discount but you could get a percentage back from companies as well. Like I said before if you don't ask you won't know and all any company can do is tell you no. Start treating your non-profit organization as a business and start asking for the same things that businesses do. It will not put you into a bad light but show the community that you are here to stay and that you take your organization seriously.

All businesses have access to coop but only if you ask because companies do not always give you this information.

Vickie Rhodes

Rose Marketing and Advertising

Home of The Mad Marketer

COOPING

Friday, May 11, 2012

COOPING: There are some things that business owners unknow...