July is a pivotal month for dealers to maximize their co-op funding. This is the time to set the stage for the remainder of the year, ensuring you maximize your marketing budget and build momentum with your Affluent Audience.

Re-engage with Your Reps

Now is the time to re-engage with your brand reps. Start by asking these crucial questions:

• Where are we with our accrued funds?
• Are we above or below the projections from the start of the year?
• What is your estimate of our available funds for the rest of the year?

Too many dealers stall in Q3, waiting for a final number at the beginning of Q4. That’s months (and likely money) wasted. 

Remember Your Audience

Premium and luxury sales have a longer customer journey. High-end consumers take time to prepare for their appliance purchases. It’s not about the quick sale; it’s about building momentum with consistent engagement and presence in the minds of your Affluent Audience.

For our dealers, we recommend that their year-end campaigns begin no later than September 1. (For the same reason, we recommend a four-month minimum for ANY digital campaign targeting the Affluent Audience.) 

Leverage Every Dollar from Your Manufacturers

Accrued funds are likely a significant portion of your marketing budget. Don’t leave money on the table that could benefit your brand and the manufacturer. Manufacturers won’t let you bank that money for future use – it’s use it or lose it. Moreover, manufacturers might reduce what they offer next year if you fail to spend all your allocated funds.

Be a Proactive Dealer

Reps and their marketing teams appreciate dealers who come with a solid plan. When you begin planning and strategically spending your co-op funds, manufacturers will notice. Brands often have additional funds for dealers with a clear vision for growing their brand. Extra money might be available when you demonstrate a well-thought-out plan for using their funds.

As you prepare for the second half of 2024, make time in the next few weeks to take these steps:

• Get an estimate of your funds for the last half of the year. Then, make a note to check in to confirm at the beginning of Q4.
• Plan your campaigns assuming you’ll receive the total estimated funds. Get started building now so campaigns can be live no later than September 1. 
• Be prepared to adjust if the numbers change in Q4. It’s better to dial back on a campaign, whereas waiting to start your campaign too late will make it challenging to spend all your funds effectively.

By starting early and planning strategically, you will make the most of your co-op funding, build momentum with your Affluent Audience, and position yourself as a proactive and strategic dealer in the eyes of your manufacturers.