Co-op funds: What they are and how to use them

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Diana Canto-Sims, OD, discusses co-op funds with Alessandro Baronti, the president and CEO of the DeRigo Rem.

Diana Canto-Sims, OD, from Buena Vista Optical in Chicago, sits down with Alessandro Baronti, president and CEO of the DeRigo Rem, to talk about cooperative (co-op) marketing funds, what they are and how to use them.

Related: How $420 co-op dollars netted $19,000 in revenue

Key takeaways:

  • A co-op is an allocation of dollars based on a specific business volume that is generated by a practice.
  • Use the fund to enhance the visibility of the brand, which consequently will enhance the profitability of the practice.
  • The funds can be creatively used for education, such as "Lunch and Learns," or "Breakfast and Learns." This allows the staff to learn about a new collection coming to the practice so they can talk to patients about the new collection.

Want do get started working with co-op dollars? Establish a relationship with a business consultant to help you understand the different benefits available to you and your practice.