TIP SERIES FOR INDEPENDENT RETAILERS: Build Your Retail Business Using Someone Else’s Dollar

TIP:  Take advantage of a brand’s co-op allowance

Take advantage of Brand Co-op dollars

Many brands don’t verbally offer co-op programs out the gate and quite likely are overspending on the big box accounts that demand it. BUT, if you don’t ask for it, you will not receive anything.

Before you pick up that phone or send out that email request to your favoured brands, there is a catch. Don’t just ask for money and use it for your traditional ads.  Put some serious thought behind the campaign objectives, so that the brand knows you understand their vision and messaging for the season. Prove to them that you really want to grow their brand in your store by being creative in how you are going to bring the campaign to life.  Brands will often give more than the typical co-op percentage if they feel it is going to reap rewards and improve their brand presence on the floor.

Agree to top up the product inventory the week before the campaign starts, to ensure that you will have enough stock to complete the campaign. This shows the brand that you are committed to making the campaign successful.

Once the campaign is completed, follow up with the results to ensure that you will receive more brand dollars next season.