Small Business Marketing on a shoestring budget ... - BizEngine

Driving down the street a couple of days ago, I saw a billboard that reminded me of my favorite shoestring marketing technique of all time. The billboard was for a jeweler and it showed a picture of a giant Rolex watch. The copy read ?Featuring Rolex.?? Then, in a smaller font, it listed the jeweler?s name and address.

You can bet that Rolex paid for the lion?s share of that ad. Imagine getting a billboard on a busy street touting your business and you pay cents on the dollar for it. Or a TV commercial that promotes a branded product, which then states it is available at your store.

That?s called co-op advertising (for cooperative.) ?

Co-op advertising is a cost-sharing arrangement between a manufacturer and a retailer wherein the retailer places an ad that is partially paid for by the manufacturer in exchange for the manufacturer?s product being mentioned in the ad.

You only pay for part of the ad. Cool, right?

When a convenience store advertises a certain beer, you can bet that that beer company helped pay for the ad. That is co-op advertising. Co-op opportunities are available in every medium: Online, print, radio to TV. Collectively, manufacturers earmark approximately $25 billion dollars annually to help small businesses stretch their advertising dollars. However, much of the money goes unused.

To start using co-op advertising, ask your suppliers what co-op programs they offer. If they don?t have one, suggest it.

Normally, you will need to pay for the ad, and then present proof to the supplier that you mentioned their products. For print ads, just a copy of the ad exactly as it was printed will work. If you buy TV or radio ads, you?ll need a copy of the script with station affidavits of dates and times aired. You also will need to document the cost of the advertising, usually with copies of applicable invoices from the publication or station where you ran the ad. Finally, you will need to submit a claim and your documentation.

Here are a few co-op tips:

• Read and follow exactly the co-op rules your supplier has exactly. That is the key to getting the reimbursement.
• Some suppliers require that ads feature only their products.
• If you?re preparing your own ads, work with the free advertising professionals available at the media outlet you are using.
• Keep in mind the image the manufacturer presents in its own ads. Prepare an ad that reinforces the manufacturer?s brand.
• Make sure your company?s name stands out in the ad. Your goal is not so much to sell the supplier?s product but to get customers into your store.

Source: http://www.bizengine.com/steve-strauss-my-favorite-shoestring-marketing-technique-of-all-time/

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