Has your agency ever participated in a co-operative advertising program? If your answer is “no,” there are a few things you should know about it.
What is co-op advertising? In a nutshell, co-op involves an independent insurance agency getting advertising support from their insurance carrier.
To help promote both businesses, the insurance carrier pays a portion of the independent agency’s advertising costs – and often provides the advertising design work as well.
What are the benefits of co-op advertising?
First and foremost, co-op advertising is a cost-effective way to reach your target audience. With support from a national or regional partner, you’re able to reduce your design, media and production costs. Plus, you get assistance doing all of the above.
Then, when your ads are running, you experience major benefits. You get to increase brand awareness, build trust by associating with a well-known brand and share in any brand loyalty that’s already been established.
What are the benefits of co-op advertising with Frankenmuth Insurance?
If your local agency uses any of our existing assets, we’ll cover 60 percent of the cost. Choose from our videos, print and digital ads, outdoor boards, and more, but you can still add your logo and contact information to make them your own.
We also offer agents the option to choose the type of advertising they desire. After all, you know your community better than anyone, so you know about the local options that are available. That’s why we’re flexible in our approach – working with agents to develop marketing opportunities that are unique to them. If you choose to take this route and create your own content, we’ll reimburse 50 percent of your total bill.
How can I participate in the program?
Ready to get started? Our next co-op advertising opportunity runs from March 1, 2018, to February 28, 2019. All you need to do is:
- Find an advertising opportunity in your area. Then, present it to the Frankenmuth Insurance team for approval.
- Once it’s approved, we’ll work with you to develop the ad — usually within 10 business days. Or, you have the option to create your own ad.
- After both your agency and the Frankenmuth Insurance team have approved the ad, you can place it. And if you need a little assistance, our advertising partners are available to help.
- Send us an invoice as a reimbursement request. Typically, a check will be mailed to you within 10 business days.
If you’d like more information about Frankenmuth Insurance’s co-op advertising program, visit Resources/Marketing/Agency Marketing Support in iBIS.
To start a conversation about co-op advertising, talk to us at marketing@fmins.com.
