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Cooperative Marketing
Best Practices
Executive White Paper
New media, ROI pressures and heightened customer demands have helped drive the transformation of today's co-op marketing programs.
Executive Summary: This White Paper, sponsored by Pitney Bowes Marketing Solutions Group, aleading provider of web-based co-op marketing tools, examines the trends and challenges faced by companies looking to achieve more business growth from their trade marketing efforts. Best Practices can empower agents, brokers, dealers and other distribution partnersto leverage marketing dollars in local campaigns that bolster nationwide corporate initiatives while enhancing program controls, turnaround time, efficiencies and effectiveness.
Pitney Bowes Marketing Solutions GroupA case for co-op advertising Advent of New Media Adds to Complexity and Challenges Many companies encourage their agents, brokers, dealers, New media, including email, web, digital signage and banner franchisees and other distribution partners to promote ads provide partners with new ways to promote products and their products and services with generous local marketing services. While traditional media still dominate total spend, allowances. Ironically, these programs built around the notion much of the growth in advertising and marketing comes from of "cooperation" can often frustrate all parties involved. emerging media. Companies should encourage partners to Delays, complicated rules and out-dated restrictions leave leverage these targeted, economical media alternatives, some partners discouraged with what should be a true while keeping the following points in mind:"win-win" experience. At the same time, CMOs and CFOs are pressing their own co-op program managers to put . These new communication channels should be more controls in place to ensure brand integrity and employed as additions to effective elements of the compliance-proof reporting. existing media mix, such as direct mail or print advertising, so they must be managed on top of efforts In recent years, a series of events have created an already in place. As a result, systems to monitor, track environment where the time-honored traditions of tear and reconcile branded messaging and payments must sheets, one-off reimbursements and Excel spreadsheets be more robust and flexible than ever before.can no longer keep pace with market realities. The emergence of new media, in-house budgetary pressures and expectations . The relatively lower cost for alternative media makes for more personal, targeted customer communications have it easier for partners to spread their advertising raised the bar on what it means to succeed across all phases allowances around, increasing the number of co-op of marketing funds management, including co-op programs, claim transactions - and the associated burden on MDF (market development funds) programs and BDF corporate operations.(business development funds) programs.Today, many co-op marketing managers have begun to adopt . Embracing new media can also lead to new rules and ®Best Practices that answer the call for improved performance, guidelines. Intel , for example, now requires companies while redefining the spirit of cooperation necessary for a that take part in its co-op program to spend a minimum 1successful program. This integration of technology and of 35% of Intel-reimbursed funds on online marketing.intelligent workflow is making it easier for manufacturers and service providers to: Incorporating these new media channels into co-op marketing programs can help companies reach customers where and . Simplify co-op programs to increase participation when they are making buying decisions.
. Eliminate paper-based claims processing ROI Pressures Lead to Greater Scrutiny, Heightened Reporting . Target how local marketing dollars are spent Co-op program managers have always been held to high standards for reporting. Compliance with FTC regulations and . M ake it easier for partners to execute specific laws (e.g., the Robinson-Patman Act) require exact customized campaigns tracking of how every dollar is spent. With the onus on senior . M easure return on investment (ROI) on co-op spending management to report on the adequacy of internal controls, most firms are investing a great deal of resources on Sarbanes-Oxley compliance.Even those who manage successful co-op marketing programs... [download for more]
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