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Using Co-op Funds is a Win-Win
Every time you invest in equipment and supplies through your distributor, you’re accumulating co-op funds—a great, two-way street that benefits both dealers and manufacturers. Co-op funds are essentially money you get from manufacturers—through your distributor—to help promote their products and support your advertising efforts; including media, print, digital, vehicle graphics, uniforms, and even trade organization memberships.
Don’t Wait Until the Last Minute!
Your co-op funds are available to you throughout the course of the year and some distributors require you to use them by certain dates, instead of all at once in December.
The last thing you need to be faced with at the end of the year is a “use it or lose it” situation. Dumping your marketing dollars into a last-minute advertising blitz during the busiest holiday season isn’t effective. Homeowners’ mailboxes are overflowing with holiday promotions, and consumers are already bombarded with marketing messages. People are busy shopping, celebrating, and spending their money on gifts—not necessarily thinking about HVAC services.
A Better Approach: Strategic Planning
Throwing your funds into a rushed campaign or spending them on branded giveaways just to use them up isn’t the best use of your resources. Instead, take a proactive approach by planning your marketing efforts in advance.
At the beginning of the year, sit down with your distributor and map out a strategy for each season. Your co-op funds are there to help grow your business—use them wisely!
Create a Marketing Plan
Your marketing plan doesn’t need to be complex, but it should include:
- Your business goals
- Deadlines for achieving those goals
- Specific marketing strategies to reach those goals
- A calendar outlining key marketing activities
- Methods for tracking success
- A realistic budget (4-6% of gross sales for moderate growth, 8-10% for aggressive growth)
Don’t Let Your Co-op Funds Go to Waste!
There is a wide range of co-op marketing support available from manufacturers and your distributor. So, keep current on the funds available to you and maximize your marketing dollars!