Is your co-op fund management platform benefitting your dealers/retailers?
OEMs who offer cost-sharing programs to their dealer network need to make sure they have a streamlined, error-proof co-op fund management platform for the administration of co-op funds, prior approval & claim submissions. We understand that a great co-op advertising program leads to satisfaction among dealers, which results in a healthier and stronger brand. We’re also firm believers that one of the tenets of a strong co-op advertising program is employing a platform that keeps the program running like a well-oiled machine; a Co-op Resource Center. Many OEMs don’t have a platform in place for handling their dealer’s co-op administration and often fall back on antiquated websites and approaches, operating on an “if it’s not broken, don’t fix it” mentality that leaves dealers and retailers tired, confused and often frustrated. Below are four reasons why a co-optimized platform positively impacts your dealers and brand.
1. Better UX improves dealer satisfaction and desire to advertise
Older platforms for managing co-op administration can be equated to using dial-up. It’s old, clunky and time-consuming. Antiquated platforms for handling co-op advertising result in an attitude among dealers that local store marketing and cost-sharing is a “necessary evil” of running a dealership. In some cases, poor UX leads to dealer frustration resulting in some dealers not wanting to deal with the hassle of spending their co-op dollars. This attitude will negatively impact your brand in the long-run. Conversely, a great CRC that’s fast, efficient and has a flawless UX will be something your dealers will look forward to using, as it eliminates unnecessary work by functioning in the manner that it’s supposed to.
2. Garner more meaningful insights for your brand
Co-op budgets are often times one of the largest line-items in an OEM’s budget. Yet, time and time again, OEM’s are relying on insufficient co-op portals that don’t allow them to be informed as to how their money is being spent. Instead of being complacent with blindly throwing co-op dollars into the ether, rely instead on a co-op portal that offers intuitive and thorough reporting functionality, allowing you to garner insights as to how your dealers and brand as a whole are using their co-op dollars. This insight is vital, as it can help inform asset creation and allow you to analyze how dealers are spending their co-op dollars.
3. An optimized co-op portal eliminates back and forth and miscommunication, which means happier dealers
Dealers appreciate a co-op portal that keeps them updated on prior approval and claim decisions, as well as a system that offers clear, concise and actionable audit notes. What about the ability to connect with a co-op manager or auditor in real-time? If this feature isn’t implemented in your current portal, dealers are spending more time than they should flagging down answers on why ads aren’t approved and why claims haven’t been paid.
4. An optimized co-op portal allows dealers to do what they do best: SELL!
Co-op administration & processing shouldn’t be a burden for dealers or OEMs. An optimized co-op portal allows for administration of prior approvals and claims to be more streamlined, alleviating time and stress for dealers to focus on running their dealership and selling product. Outdated co-op portals often make finding prior approval, claim and fund information difficult, which frustrates dealers. An optimized portal takes on most of the work so that dealers only need to worry about submitting and checking their funds. The portal should do the rest.
We hope the information above illustrates how an optimized Co-op Resource Center can be a game changer for your dealers and your brand. Cooperate offers a proprietary Co-op Resource Center built from the ground up based on more than a decade of experience. Please call Cooperate today for a CRC walkthrough and let us help you take your Co-op Advertising program to the next level.
Cooperate is a Chicago-based agency that solves complex problems for OEM’s 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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