Industrial Sales Down? Then You Need To Tap Into The Power Of Co-Op Advertising
March 7, 2018
Stressed out from low sales on the Internet? Can’t believe the rising cost of online marketing such as search engine optimization or pay-per-click? Is this is a problem you’re facing, one solution is Co-op advertising.
Co-op advertising is a mutual promotional arrangement between two or more non-competitive companies that share the same target market. For example, a manufacturer of bearings may develop a cooperative advertising relationship with an re-builder of engines. Or perhaps, a distributor of first aid supplies may engage in co-op advertising with a plant safety management firm. Both companies benefit from the exposure while cutting advertising expenses.
Previously, most co-op advertising relationships were between manufacturers and their distributors or the retailers that sell their products. Which usually consisted of running ads in newspapers or magazines read by their target audience. However, ever since the Web came along, there has been all kinds of co-op arrangements between companies in just about every industry.
The Perfect Co-Op Partnership
Manufacturers and distributors of industrial products share the same end user – industrial and technical buyers such as engineers, construction companies, manufacturing facilities, foundries, and other buyers of industrial supplies, equipment and machinery. Therefore, with such a vast target market, manufacturers and suppliers of industrial goods or services make the perfect co-op partnership.
Finding co-op advertising partners is usually not that difficult. After all, cutting advertising expenses is something every company would like to do, so whether your a manufacturer or distributor, or perhaps an exporter or importer, you should have no problem finding cooperative advertising opportunities. You can start by looking at your own supply chain or the companies you are currently doing business with. These are often the easiest to arrange a co-op relationship with, especially if you’re a buyer, distributor or wholesaler of their products.
Web Sites Are Ideal For Co-op Advertising
Just about all kinds of media can be utilized for co-op advertising. For industrial suppliers, however, trade magazines is still the media of choice for running coop advertisements. But quickly closing in is the Internet, which many suppliers are finding to be the most effective source for developing co-op campaigns.
Obviously, the most popular form of co-op advertising on the Internet is simply trading banners or reciprocal linking. Yet, over the last couple of years. too many people, perhaps out of greed, have ruined which was once an extremely beneficial method of building traffic. In other words, the bulk mail offers (Spam) to exchange links. In result, more people are now shying away from exchanging links and instead focus more on internal, one way links.
But if you’re serious about finding valuable co-op advertising partners online, there still are literally unlimited opportunities available. Whether it’s trading or sharing the cost of a banner or logo, text link or display ad, the possibilities are endless and only limited by your imagination.
By all means, when looking for co-op partners, think in terms of quality, not quantity. Don’t worry about page rank, that will come naturally. Just focus on developing fewer, but of higher quality co-op advertising or linking partners. Because it’s not how many co-op or banner exchanges you have developed. More importantly, it’s the value of those relationships that count. Just a handful of the right partners can dramatically increase your site’s Web presence.
Co-Op Advertising Using Adwords
I know of several companies in which Google Adwords has proven to be an extremely effective source for co-op advertising. Adwords is nearly perfect for developing, running and tracking coop ads. No other advertising system gives you the ability to access such a large audience so quickly and test your ads so easily. It’s practically designed for co-op advertising.
In fact, I can say with almost certainty, and you can quote me on this, that by the end of the year there will be noticeably more companies doing co-op advertising via Adwords. Especially if the bids for keywords continue to rise like they are, co-op advertising maybe the answer for a lot of manufacturers and suppliers of industrial products. Yes, Google Adwords.
For instance, the way Adwords is designed, it’s possible for companies to share the views of a landing page, so traffic is filtered equally between the partnering sites. Or maybe the landing page itself can display the advertising content of both companies for mutual exposure. You can even get creative and design the ad to promote both companies, or even use rotating ads.
Or if you want to get real creative, you and your coop partner can integrate your keywords and create a totally different ad that promotes both companies. Again, the possibilities are limited by creativity and your willingness to test different ideas.
Free Co-Op Industrial Advertising Network
If your company is a manufacturer or distributor of industrial products, I want to invite you to join the Free Co-Op Industrial Advertising Network. I’ve developed the network in association with IndustrialLeaders.com, and it’s quickly becoming the most popular online co-op advertising network for manufacturers and suppliers of industrial products. International manufacturers and suppliers are welcome to join free-of-charge. You can get all the details at the website below.
About The Author :
Conrad Bailey is co-founder and vice president of IndustrialLeaders.com, a Manufacturing Directory and author of the popular Co-Op Industrial Advertising Blog at: http://www.IndustrialLeaders.com/blog/
Finding Industrial And Technical Buyers On-line
December 28, 2017
Internet marketing strategies for manufacturers and industrial suppliers that want to generate more sales and increase marketing ROI
By Conrad Bailey
If your company sells industrial products or services, one thing is for certain, you should be using the Internet as a marketing tool to reach your target audience. After all, over 87% of engineers and other industrial buyers report using the Internet on a regular basis to find the products, services and solutions they need. The manufacturers and suppliers that know how to effectively reach these ready to buy prospects through effective marketing programs are the ones making the most profit from the Internet.
However, reaching qualified buyers, at the right time, is becoming increasingly difficult as more manufacturers and other industrial suppliers join the on-line marketplace. The competition has become so intense for certain products and services, many companies are beginning to doubt the Internet as being a profitable marketing tool.
Even programs that use to be extremely profitable for a lot of manufacturers, such as pay-per-click, lacks the clout it use to have in the eyes of a lot of industrial suppliers. Most of them blame it on the competition. But that is not really the problem. The real problem is the company’s inability to adapt to a constantly changing marketplace. And unquestionably, no marketplace changes faster or more frequently than the Internet.
Increase Your Marketing Channels
Relying on pay-per-click, search engines, banner ads or your Web site is not enough. You have to versify your entire marketing approach in order to compete on the Internet today, as well as in the future. If you expect the major search engines to be your Web site’s main source of traffic, you are relying too much on one marketing channel. You must increase those channels to generate traffic from multiple sources all over the Internet. The Web site’s that are most versatile in terms of marketing, will develop the strongest competitive advantage possible over their competitors.
Probably the single biggest reason why most manufacturers do not versify their marketing is they prefer to keep things simple. So they invest most of their marketing dollars in one or two programs, and overlook smaller traffic sources that could significantly increase their ROI.
Indeed, keeping it simple is certainly an ideal approach, but it does not mean you have to limit your marketing channels. The key is to find smaller, more flexible search engines, directories or portals that reach your target audience. You can and still should utilize the major search engines to promote your site. Just don’t overlook the others just because their too small to work with. Together they can generate much better results than any single source, no matter how big. Moreover, the competition will be a lot less, so the ROI will be significantly improved.
Finding Marketing Channels That Work
Obviously, not all marketing opportunities are equally effective. You want to find marketing plans or programs that are simple to utilize, measurable, and of course profitable. No matter what audience you are trying to reach, there are dozens, perhaps even hundreds of Web site’s that are ideal marketing channels to promote your company. Don’t make the mistake of ignoring a site just because of its small audience. You need to look at the whole picture and see the real value of these sites.
As I mentioned earlier, most leading manufacturers don’t even bother with advertising on Web sites that reaches just a small fraction of their target audience. Yet, these smaller sites offer by far the greatest profit potential. Consider not only the excellent advertising value these sites usually offer, but also the enormous potential they often have to reach even more of your prospects in the near future. After all, as their visitors and audience increases, so will your ROI due to several reasons.
A significant advantage of advertising on smaller Web sites is the relationship factor. Imagine being the original advertiser on a Web site that once had a small audience but now reaches millions of your prospects. There will certainly be perks. I know myself I will not forget the original advertisers of my own site. Their support was vital to my Web site’s success and I make sure these companies are rewarded with exclusive advertising benefits.
Internet Advertising and Marketing
Everybody on the Internet today has their own opinion about which advertising or marketing methods are best. Many swear by text link advertising and search engine optimization. Others like pay-per-click or opt-in email. And there are many manufacturers that still prefer banner advertising, most likely for branding purposes. But who cares what works for somebody else? All that really matters is making it work for your company – period.
Different Web sites offer different advertising opportunities. Some sites will only accept banner ads while others will only present text link ads. Then there are directories or search engines that may even accept both. The point is, if the terms are right, then you must be flexible and be willing to advertise in the manner these sites require. Again, all that matters is reaching your target audience while increasing ROI. Whether it be via a banner advertisement, text link, featured listing, or whatever.
Yes, it will take some serious time and effort to find the right marketing channels and advertising opportunities. But the benefits are certainly worth it if you are responsible for marketing or increasing traffic to your company’s Web site.
Just look at the whole thing as if your building a chain one link at a time with each link strengthening the entire system the bigger and longer the chain gets. This chain will undeniably result in a flood of ongoing traffic from multiple sources that will consistently increase your site’s visibility and competitive advantage on the Internet.
In contrast, your competitors will be limited to the one or two big marketing channels they rely on for 90% or more of their Web site’s traffic and perhaps their survival. They will be constantly subjected to price increases, growing competition, and ironically the need to find other marketing channels.
About The Author :
Conrad Bailey is co-founder and vice president of http://www.IndustrialLeaders.com,
an Industrial Supply Trade Portal for engineers and other industrial & technical buyers.