Joint advertising, co-op marketing

Consider this a sequel to Monday’s post about retail recruitment and retention, as well as the penultimate post on the first phase of the Rahway Survey report, presented last month.

Community Insights recommended creating marketing materials that feature “specific leasing opportunities and provide the type of detailed demographic, economic and consumer preference information that retailers will need to reach a decision.”

A joint advertising campaign would promote the city, developers and available properties, and be funded jointly by the city and participating property owners, according to Community Insights. Teaser ads, in conjunction with a coordinated public relations effort, would aim to drive prospective retailers to a Web site that would provide them the information they need.
Consultants also pushed co-op marketing, “creating retail synergies by leveraging the consumer base from one or more retailers,” and recommended that the Rahway Center Partnership (RCP) undertake efforts to “identify, develop and implement co-op marketing programs among retailers that express an interest to participate.”

RCP Director Ray Mikell said now it’s a matter of finding funding to implement the report’s recommendations, which will not be easy given the economy. The survey was partly funded by a grant from the state Department of Community Affairs.

Mark Lohbauer, a principal with Community Insights, said the firm plans to complete a proposal by January that will include specific components of retail retention and marketing, with specific cost estimates. In addition to seeking government funds, he said developers and other interested local parties could be solicited for funding.

There are a variety of other minor items in the report, but these nine posts should cover pretty much all the main points and ideas. I’ll be back on Friday to make it an even 10 posts to wrap up final thoughts on the first phase of the Rahway Survey.

Previous Rahway Survey posts: