4 tactics for maximizing co-op social media expenditure
Dealers and retailers constantly evaluate different ways to reach prospective customers. However, with limited adverting budgets and an overwhelming amount of advertising mediums available, less technologically-savvy dealers and retailers are resistant to change and fall back on traditional advertising. Help dealers and retailers get comfortable with digital media by employing these tactics.
1. Make your social media assets easy to find
Dealers and retailers often cringe when they hear social media advertising because they either don’t have a strong understanding of it or they believe the process for submitting social media advertisement claims is too cumbersome. Be sure to develop a process document listing easy-to-understand steps for executing and receiving reimbursement for an advertisement.
2. Promote the use of OEM-created assets
Not all dealers and retailers have deep pockets. They want to advertise the best assets they can without hiring a vendor to pay out-of-pocket fees. Inform dealers of the incentive for utilizing your professionally-created assets. Whether it’s a Facebook ad, Internet Banner or an Email Marketing campaign, it’s a win-win. Depending on the reimbursement rate established, dealers and retailers may be eligible for a higher reimbursement rate if they utilize the OEM-created assets. Additionally, the OEM has piece of mind knowing its creative is being used at the national and local level.
3. Make requirements for dealer-created assets clear and concise
It’s OK if dealers don’t use OEM-created assets. Sometimes the respective OEM’s assets don’t speak to the needs or values of the community they’re being advertised or the products a dealer is trying to sell. Ensure the reimbursement guidelines for dealers and retailers who want to create their own social media advertisements are very easy to follow, especially the requirements for the ad itself.
4. Provide customer support to dealerships and retailers
OEMs who provide customer support to dealers and retailers increase their ability to connect with them. Customer support specialists alleviate small business employees’ duties by walking the employees through the process for social media reimbursement. This provides dealers piece of mind, as they feel taken care of by the OEM, and their co-op budgets are nurtured rather than guarded.
Let’s connect. Cooperate is a Chicago-based agency that solves complex problems for OEMs and service providers through our insightful, collaborative and cost-effective approach. We pride ourselves on providing white glove service to our clients and their dealers. Do you have a co-op issue that you’re struggling to solve on your own? We’re experts in the field and would love to offer our perspective.
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