Did you know that by some industry accounts, up to half of available co-op and market development funds (MDF) sit around collecting dust every year? For national brands looking to empower channel partners, this statistic is depressing. But for channel partners looking to increase revenue, this could be exciting.
Available funds mean that national companies recognize the importance of a brand2local marketing strategy and understand they should be aligning their strategic initiatives with local markets. In turn, channel partners can use these funds to maximize engagement with their customers.
Instead of letting valuable dollars go to waste, channel partners should take the initiative and leverage local marketing, advertising, and promotional support. To help with that effort, here are five things channel partners should be asking their national brands.
Can I have easy access to local program opportunities?
Whether you are a distributor, agent, dealer, or franchisee, your local marketing efforts are vital to helping the national brand boost influence and capture market share.
To see true success at the local level, channel partners need access to all advertising and promotional program assets, as well as governance, workflows, and reimbursement processes. Enabling all of these program components via a single accessible platform like Ansira EdgeSM streamlines efficiency and results.
What assets should I use?
Most of you aren’t marketers by trade, and there are many demands on your time. Because the marketing landscape is constantly evolving, you’re sometimes at odds with your national brand. Assets that aren’t brand compliant in their content, timing, or usage get released as well-intentioned means of engaging consumers, but they prevent you from taking full advantage of co-op or MDF funds.
To realize successful results from a brand2local strategy, national brands should provide you with approved marketing assets and guidelines for use, customization tools, coordinated budgeting and marketing strategies, end-to end management of physical assets, and local digital media.
How do I participate in a local marketing campaign?
Participation in a local marketing program shouldn’t be cumbersome. If you need assistance or explanation about how assets should be used, training and support should be easily accessible to you via the platform, as well as through dedicated, knowledgeable customer support. Asset approvals should also be timely and productive.
What’s the process for claims or reimbursement?
Campaign design and advertising and trade promotion management are essential for ensuring you can successfully continue your marketing and engagement efforts. National brands and the partner portal need to provide full-service support and guidance for claims processing and reimbursement. If you need a refresher, don’t be afraid to ask for it.
What if the promotion or campaign falls flat?
Sometimes an advertisement doesn’t resonate with customers. Other times, a social media campaign is more effective than the brand thought. National brands should consistently optimize campaign strategies and execution to realize the best possible results. The key to any successful advertising or trade promotion is data.
By analyzing the data regularly, national brands can refine local campaigns as necessary — and ensure their channel partners have new programs and assets to use in their markets.