Get the Maximum Co-op and Compliance Money Available
Author: Ayman Alam
Posted On: April 23, 2018
Post Comments: 0
Are you earning money or losing money? Is your agency well versed in the difference between Co-op and Compliance? Are they doing all they can to make sure that you are receiving all the co-op funds you are entitled to along with making sure that all your advertising assets are compliant with your OEM so that you do not risk losing money? The terms co-op and compliance are all too often used interchangeably primarily because no one takes the time to define them as they apply to your dealership, so let’s start there.
Co-op is the reimbursement of advertising funds based on the number of new cars the dealership sells. The funds are reimbursed by the OEM ie Ford, Chrysler and Hyundai. Each OEM has their own set of rules establishing how your advertising funds are calculated. Some of the OEMs offer bonus funds that must be used in specific ways and we can assist you in earning these funds also. We will provide you with the necessary documents so that you can submit for reimbursement of your co-op funds or we will submit them for you.
Compliance is the OEM standards for displaying of the brand in all forms; advertising both traditional and digital, website, and social media. The standards are established so that the OEM has the final word on how their vehicles and services are represented and to make sure that the brand is portrayed consistently. If the brand standard regulations are not met, the OEM can and all too often will assess a strike to the dealer. In most cases the strikes come in the form of large sums of money charged to the dealer. There are different levels of strikes and different levels of monetary deductions. Not all strikes carry the same weight but all carry a form of penalty.
The brand standards for all manufacturers are found on their marketing sites and need to be reviewed frequently. The standards do not change with any regularity or warning, which can make for a daunting task for dealers as they work to sell and service vehicles, so let us handle this for you. Our Co-op and Compliance Team regularly read and review the standards to ensure that the assets we are creating meet all the brands standards by submitting them to the OEM compliance agencies. We also have established relationships with the regulatory agencies so that we can get answersand assistance to questions as quickly as possible. And finally if required by the OEM, we will submit your website and/or social media sites to ensure their compliance.
Here at iFrog Digital Marketing, your account team works together to make sure that the images we create, the content we write and the paid advertising we do, is compliant. Contact us today to get your free digital audit or for any questions you have concerning co-op and compliance.