SMB Data Point of the Week: Co-Op Advertising Programs Popular with SMBs
Co-op advertising programs are popular with SMBs, particularly SMBs who spend more annually on advertising and marketing, according to our Local Commerce Monitor , Wave 19 (Q3/2015). Our Plus Spenders are SMBs that spend more than $25K annually on advertising and more than a third (39.3%) of this group uses Co-op programs. Plus spenders average around $75K a year on advertising. Co-op dollars account for a quarter to a half of Plus Spenders ad budgets who use Co-op. Our “Core” SMBs (annual ad spend of less than $25K) have a much lower use, only 11.5%. Companies marketing to larger and higher spend SMBs are missing an opportunity to increase SMB ad spend by not facilitating co-op programs. LSA with COOP Online and Ad Mall are two companies that provide Co-op tools to help sales and companies manage Co-op spend.
BIA/Kelsey’s LCM, Wave 18 reports can be viewed and downloaded by clients here, or purchased a la carte in the new BIA/Kelsey eStore. Wave 19 reports are coming soon.