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During “The Secrets of Making the Most of Co-Op Marketing,” TravelAge West’s recent webinar with ASTA’s Young Professionals Society (YPS), panelists discussed co-op marketing strategies, including how to determine when a travel agency is ready to enter into a marketing partnership and how to evaluate the partnership’s effectiveness.
Jason Coleman, president of Jason Coleman, Inc., and TravelAge West senior editor Mindy Poder moderated the conversation, which included panelists Mimi Cassidy, co-owner of Moraga Travel and Anthony Cheng, COO of APF Travel Inc./GoLatin Travel.
Following are the key co-op marketing takeaways from the webinar and the subsequent Twitter chat.
What is a Marketing Partnership?
Before Starting a Marketing Partnership
Building a Co-Op Marketing Proposal
How Much to Ask For and Other Co-op Marketing Considerations
Measuring Return on Investment (ROI)
Industry professionals can measure the effect of a co-op marketing partnership in various ways.
Co-Op Marketing Twitter Chat
Following the webinar, TravelAge West editors and ASTA YPS members co-hosted a chat on Twitter. During the chat, we heard many insightful tips on making the most of a marketing partnership, and some of our favorites are listed below. Find our entire Twitter chat by searching the #YPSTAW hashtag.
Keep your clientele’s needs first. Don’t take a supplier’s funds if they don’t fit your niche — nobody wins #ypstaw — @planesNcronuts
Have a clear goal in mind with a well thought out plan of action, budget and ROI metrics before you contact a supplier for help. #ypstaw — @resortvenues
A current relationship is helpful, but we are always open to new and alternate avenues for business development @TravelAgeWest #YPSTAW — @TravcoaTravel
You get more with honey then you do with lemons, so be kind to your BDMs. They are a valuable asset! #ypstaw — [email protected]
Statistics never hurt. Showing some data is always better than asking for money or effort on faith. #ypstaw ? — [email protected]
@MimiCassidy suggested having a BDM present his/her product in a Google Hangout — track the success and use it in a proposal. #ypstaw — [email protected]
Track ROI w/ software like ClientBase. Simpler methods: promo codes, specific emails or dedicated phone numbers for certain campaigns #ypstaw ?— @maryjosalas
Google voice is free and easy to set up, and you may set it to ring your work or cell phone. @megan_lindsay @JoanJetsetter #ypstaw — @MimiCassidy
Calculate percentage of attendance vs. bookings within 2 weeks after an event. Was it worth time and cost? @TravelAgeWest #ypstaw — @DanielaHarriso7
1% is a good rule, but it could also be how easy you are to work with. Make it easy for them to WANT to work with you! #ypstaw — @Cruisitude
As a client, designing plans with me (and my daily schedule) in mind really grabs my attention. @Cruisitude #ypstaw — @ChelsLoweLa
Insist that your brand is visible in the creative —after all, suppliers are going to you. #ypstaw — @TravelAgeWest