Although your brand has already reached the point you wanted, it is important that be always updated to win more customers. Therefore, in this post, we are going to talk to you about co-branding.
This strategy can be perfect to reach a wider audience and therefore strengthen your brand image.
So stay with us to find out, with examples, what is co-brandinghow it helps you, when to apply it and much more.
What is co-branding?
Branding is the way to manage or aiming to strengthen and publicize their businesses. So what is the meaning of cobranding?
Co-branding refers to the brand alliancestrategic and temporary, in which two or more businesses can participate. While it lasts, the participants offer unique and limited products or services.
It is estimated that this strategy emerged in the 1950s when a collaboration was made between Van Cleef and Arpels Jewelry and Renault.
Renault launched an exclusive and unique car on the market, whose steering wheel with precious stones It was designed by Van Cleef and Arpels Jewelry.
After the collaboration between these two brands, many others did the same. But don’t think he co-branding it is a strategy exclusive to large businesses.
It has also been from very useful for those who are undertakingbecause it helps to make a good impression and reach a larger audience.
However, it is important that you know that co-branding is different from co-marketing and of .
What is the difference between co-branding and co-marketing?
It is true that the terms “cobranding” and “comarketing” are similar, but, as we said before, they are not the same. Is about two different strategies.
The co-marketing It consists of the union of two brands to carry out projects to promote their products, focusing on the collaborating brands themselves.
Meanwhile he co-branding It is focused on products and services.
In conclusion, with co-marketing the actions or products that are generated through co-branding are promoted, an excellent way of promoting the alliance between brands in the.
What is co-branding for?
It is very likely that you are wondering if your brand really needs co-branding actions.
To help you discover it, below, we give you some reasons to apply them and understand how the co-branding can help your business:
1. Access to new markets
It is not mandatory that the brand you include in your advertising campaign co-branding is dedicated to the same market as you. Many of the alliances are made between businesses from different areas and target audiences.
This allows that when making a strategic alliance reach a different audience.
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2. You do not coffer all the expenses
Because the co-branding actions are large, the investments made are considerable. The good thing is that you will not make all the expenses, since you will share them with the participating brands.
3. You create strong relationships with good brands
Working with other brands gives you the opportunity to build strong relationships with them. One of the advantages of doing so is that the collaborating business can boost you in a different market.
These alliances also help you make a. Thus, you have the possibility of giving new meaning to your image.
When to co-brand?
The brands participating in co-branding campaigns they enjoy the advantages generated when this strategy is applied.
If you make sure to choose a brand that complements yours and enhances your products, you will be able to get the most out of co-branding.
One of the questions you can ask yourself when you think about making an alliance is: what is the best time to apply the co-branding?
Here we tell you:
1. To gain credibility
If you want your target audience to choose your brand, it is vital that it has credibility. and a campaign co-branding is a great way to do it.
The union with another brand helps you to improve the image you convey. Of course, for this to happen, you must ensure that the association is recognized in the market and, above all, respected.
2. To have a greater reach
The visibility of the product or service you offer through a brand alliance is greater than if you promote it on your own. By collaborating with a business with a different audience, your reach increases considerably.
3. To strengthen your brand positioning
With the help of another brand, you have the opportunity to enter a specific niche. And this is important because, currently, most markets have a lot of competition and brands have to strive to stand out.
By being present in a different niche, your position in the market improves and you gain a competitive advantage.
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What are the types of co-branding?
Before you decide to do co-brandingyou should know that there are different types and understand the differences between them to choose the most suitable for your goals and conditions.
1. Co-branding support
Is he most recommended for those who are undertaking because it offers the opportunity to collaborate with a more recognized brand and, therefore, with greater sales and a variety of clients.
With this alliance, the brand that is taking the first steps can take advantage of the recognition of the other and attract more people.
2. Complementary co-branding
It is the most common in large brands and is based mainly on the contribution of joint solutions and innovation.
With this kind of co-brandingyou can launch an innovative product and make a good impression on your target audience.
Complementary co-branding allows a brand captures the target audience of its ally.
3. Co-branding of ingredients
This type consists of establishing a collaboration between brands that are in the same market or share values.
The co-branding of ingredients is a brand alliance that you can take advantage of to launch products aimed at the same niche.
How to do co-branding? Step by Step
Now you know what advantages the co-branding campaigns. If you are convinced that this is the strategy you need to apply to your brand, make sure you apply it correctly.
For your campaign to be successful, it is essential that you follow some steps before launching the product generated in the campaign. brand alliance.
Here’s how to cast a campaign of co-branding:
1. Define the most convenient type of co-branding
Carefully analyze the types of co-branding and ask yourself: “Which one best suits my goals regarding the alliance?”
Furthermore, the class of co-branding that you decide to apply must adapt to the needs of your brand.
2. Choose a brand that complements you
Although they operate in different markets and do not have the same objective, the brand that is your collaborator must have, at least, something in common with you.
What goals can be set? Among the most common are:
- Attract more customers.
- Increase loyalty and brand recognition.
The collaborating brand is key to the success of a marketing campaign. co-brandingso take the time to study your options.
It is important that you consider your values because they will greatly influence your co-branding campaign.
3. Determine the conditions under which the campaign will be carried out
Sets the roles that brands will have participate in the alliance. Each business has its specialty, it is important that you know what it is to select who will perform each task.
For example, if your brand has more experience in design, the most convenient thing is that you carry out all the activities related to this area. To define the functions, it is important that the brands reach a mutual agreement.
In addition, it is necessary to establish deadlines to complete activities or turn in homework assignments.
In the conditions of the campaign, the budget and expenses are also included. To avoid future problems, it is essential that these points are clarified when starting to plan the project. co-branding.
A very important condition is duration of your campaign, both brands should give their opinion on this aspect. Those who collaborate in your alliance must agree with the duration time.
4. Establish marketing strategies and communication plan
How will you publicize the alliance and the products generated with it? Marketing is a very important part of co-branding, therefore, do not leave it aside.
In order for the campaign to obtain the desired results, you must use the best marketing strategies, considering aspects such as target audience preferences.
As for communication, it is vital that it be excellent between the brands, so they will be in agreement with each activity carried out. Establishes how will they communicate.
And also, be transparent with your target audiencemake sure he is aware of the alliance and what will be offered to him through it.
5. Create a product prototype
To accomplish this step, of the product must consider the opinion of the clients, so that the campaign causes a good impact, adapting to them and what they are looking for.
Remember that you can create several products. If you do, make sure all items are related to each other and with the brands that make up the strategic alliance.
The product created in co-branding It must be unique and exclusive, so spend time perfecting it.
Once the product is approved, it is time to decide when will it be released.
6. Track the co-branding campaign
The process of co-branding it does not end with the launch of the created product or any other generated action. Brands must track the impact that the campaign is causing.
Even if the collaboration has ended, do not lose contact with the other brand. Results must be measured to confirm that the goals established by both businesses were achieved.
If goals are not being achieved, adjustments are valid so that the alliance has a better effect and achieves the.
5 examples of co-branding of recognized companies
Since the 1950s, thousands of brands have made strategic alliances,you want to know how have you been? let’s see 5 examples of co-branding:
1. Bershka and its clothing inspired by Sailor Moon
If we talk about anime that have caused a great impact, we cannot fail to mention Sailor Moon. For almost 3 decades, his characters have been well recognized among teenagers.
The Bershka brand took advantage of it and decided to collaborate with the famous anime. Those who designed the garments were in charge of creating all a collection inspired by Sailor Moon.
The clothing style was urban and comfortable. This collaboration benefited both brands, as Bershka reached the otaku public and the popularity of Sailor Moon continues to grow.
2. The excellent collaboration between BMW and Louis Vuitton
These businesses do not have the same public, but their collaboration is one of the best examples of brand alliances.
Louis Vuitton designed the product using as inspiration the BMW i8. She created a luggage set that reflected the avant-garde design of the car and your space…
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