Benefits of Small Business Cooperative Advertising
Advertising is important for any company, but it’s especially critical for small businesses. As a local firm without widespread recognition, it’s an uphill battle just to get your company noticed. An effective advertising campaign can accomplish this, but those don’t come cheap. With limited funds, what can you do?
Cooperative advertising offers a simple solution to many small firms’ marketing woes. It involves a joint campaign with a manufacturer who produces your products so you both get your names out there. This strategy is available to any small business that carries products from a national brand willing to collaborate. It’s important to consider the many benefits of this advertising approach:
The most immediate benefit of running a cooperative advertising campaign is that it provides access to the resources of a large, successful manufacturing firm. Not only do national manufacturers have considerable funding, but many of them have budgets specifically for cooperative advertising campaigns. They value the collaboration with small businesses, as such companies have a better sense of how to appeal to their local customers. So, if you approach a manufacturer about cooperative advertising, it won’t take much to get them to cover anywhere from half to almost all of the campaign’s cost.
In addition to having ample funding, national manufacturers have significant purchasing power. Because of their size, they can often negotiate lower prices for marketing spots, so the money you spend with them will go further. In this way, cooperative marketing makes your campaign more affordable.
Media Skills & Expertise
Besides having generous advertising budgets, national manufacturers are also likely to have more experience marketing in a wide range of environments. This expertise is of enormous value to small businesses, especially those that are recent startups and haven’t been advertising for long. As part of a cooperative campaign, manufacturers can advise you on how to create effective ads, where to run them, and how to coordinate them with other marketing materials, allowing you to maximize the impact of your ads.
Some small businesses worry about working with experienced manufacturers, fearing that they’ll lose sight of the unique qualities of their customers as the manufacturer is more skilled in large-market broadcasts. But manufacturers understand the valuable insights you have into your community, and they’re likely to defer to you on how best to appeal to your area, providing advice without stifling your creative choices.
If you’re a new business, you haven’t had much time to establish a reputation in your community. This can make it difficult to earn the trust of potential customers. But nationally-recognized brands have already built legitimacy with the public. By partnering with them, you can take advantage of their status, convincing customers to trust your business by association.
Cooperative advertising just may be the answer to your advertising struggles. You can cut costs, gain legitimacy, and benefit from those manufacturers’ advertising expertise. Start the discussion with one of your manufacturers and see where it goes.