“For a true brand marketing program for strategic partnerships to work, the two brands need to complement each other and provide similar customer profiles,” Pollack writes. “Most importantly, the partnership must be part of the customer`s lifestyle and user experience.” The article sounds exactly as it sounds: Harry Potter and Beauty and the Beast star Emma Watson answered questions from fans while playing with cute kittens. If people can see how the two brands work better in tandem, they will walk away with those higher expectations. At the brand level, the partnership has been effective for both companies, as the program requires customers to be members of dunkin` Rewards and also download the Waze app. New sign-ups and app downloads mean more loyal customers who can be targeted more frequently by the brand. Successful co-branding means that the success of a brand also means the success of its partner brand. It also means there is a deeper source of creativity, resources, and customer base that brands can also use. During the pandemic, Apple Pay has brought security to many users who have appreciated the level of innovation of the brand partnership. To give you an idea of what this wacky comedy series looks like, check out this episode that revolves around a sleeping character named Joe Dunder: Co-branding can involve creating a new product, assortment, or variant of a specialty product, or even partnering for an event or campaign. This may involve sharing resources, technologies and manufacturing expertise.
Co-branding can be due to mergers or acquisitions of companies, or simply to a project that makes sense to everyone involved. The Airbnb and Lego experience campaign recently caused a stir in the branding world when they unveiled their biggest experience to date. Where can you find bloggers for your brand partnerships? Based on the lessons I`ve learned from the mistakes I made early in my career – from not knowing my value to partnering with brands for the wrong reasons – just like the panelists, I`ve been able to make the transition from amateur to professional. The trick to success through diversification is to make sure that regardless of gender, brand and blogger share a similar vision and goal. If the partnership is rooted in common goals, it will be lucrative and meaningful for both parties. Have you ever noticed how surprisingly similar the process seems? Well, someone who participates in making this brand partnership a reality must surely have it, because in 2020 IKEA launched its new BYGGLEK collection in partnership with LEGO. Sometimes co-branding partnerships aren`t just cool projects between two companies – they actually have practical value when companies work together. To stay ahead of the competition, MasterCard was the first credit card company to allow its users to store their credit and debit cards on Apple Pay. MasterCard has not only shown the support of a major consumer technology developer in this partnership, it has evolved with its own customers in the way they make their purchases at the counter. Create value: When your brand develops a well-integrated partnership, it adds intrinsic value to the product or service that each of these companies offers natively. Now that two or more stakeholders are involved, each bringing something unique to the table, consumers will find additional value in the product or service. While the four-piece luggage set is available for a whopping $20,000, the price is good for the target customer, as the BMW i8 starts at $135,700.
A price like this makes this set of luggage look like a drop in the ocean. This smart co-branding partnership helps Uber and Spotify fans enjoy better experiences through the app. And they might be more interested in choosing Uber and Spotify as competitors, knowing that they can enjoy their next ride by listening to their favorite music. Music streaming app Spotify has partnered with ride-hailing app Uber to create “a soundtrack for your ride.” This is a great example of a co-branded partnership between two very different products with very similar goals – to attract more users. High-end makeup brand M.A.C is certainly no stranger to brand partnerships and celebrity collaborations, having worked with Rihanna, Ellie Goulding and Barbie, to name a few. One of my beloved childhood memories was a co-branding product: Betty Crocker partnered with Hershey`s to include chocolate syrup in her signature brownie recipe. .