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Co-Branding Examples - [ 3 of the best partnerships ] - YouTube
Channel: Elements Brand Management
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Are you looking to increase your
brand's reach, gain more market share,
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or enhance your brand's reputation?
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Well, in this video, we look
at how co-branding can help
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you to build your brand.
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Hi, and welcome to weekly brand tips
brought to you by Elements, Brand
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help you unlock your Brand's potential.
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And create impact, please subscribe
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every time a new video drops.
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So what is co branding?
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Co-branding is a marketing strategy
that utilizes two or more brand
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names on a product or service
to create a strategic Alliance.
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Co-branding can boost the reputation
of two or more brands depending on
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the strategy used, but there are
four distinct strategies at play.
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When you start to do a co-branding
project, these are to gain market
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share, global brand, brand reinforcement
or brand extension strategy.
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Co-branding examples,
Starbucks and Spotify.
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So in 2015, Spotify and Starbucks
teamed up on a co-branding project.
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As part of the agreement, Spotify
gives premium subscription
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to all Starbucks employees.
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This allows them to curate playlists
that serves as a backdrop while
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their customers drink coffee, the
customers can access these playlists.
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Through the Starbucks app
while Spotify also offers them
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discounts on premium subscription.
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This is a great example of co-branding
being mutually beneficial to both
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brands and providing a unique
ecosystem for those brands to live
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in and service the same audience.
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Kanye and Adidas.
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The Grammy award winning rapper, Kanye
West teamed up with Adidas to create
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a line of footwear called Yeezy and
with the combination of Kanye celebrity
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platform, the Adidas brand, and the fact
that the products are quite exclusive.
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So there's few rollouts every year, this
brand, or this Yeezy brand combination
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of Adidas and Kanye has amassed a
cult-like following and continues
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to grow in popularity year on year.
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It's a great collaboration between the
two adidas has got that creative spirit.
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Uh, Kanye's music is very creative.
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The two coming together has created
a really good product in its own.
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Right.
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So Nike and Apple.
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So back in the early two thousands,
Nike and Apple teamed up together to
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produce a range of fitness tracking
apps, clothing, and products.
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And this was started with their
flagship product, Nike+ iPod, which
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was a fitness tracker, clothing and
workout brand that allowed users to
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sync their workouts to their iPod.
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Whilst listening to music.
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Now, this co-branded project is actually
developed now into Nike+, which is a
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brand that produces active tracking.
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On sports, clothing, sports equipment, and
sports apps and wearables that allows you
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to measure all sorts of fitness and health
data and store that in those devices.
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Another great example of
co-branding to two brands strengths.
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So you have the fitness side Nike and
you have the tech side with Apple and
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the two merge together really nicely.
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And it's done a really great job of
creating a co-branded brand and products
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that work to each other's strengths.
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Comment below with your favorite examples
of co-branding either from some of the
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ones that I've shared or others that
you know of, or if not, then can you
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come up with some really interesting
co-branding examples that you'd like to
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see the most creative I will highlight
and mention in our Instagram story?
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What does this mean for your business?
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Well, it's a great strategy to employ.
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If you're looking to build your
brand awareness, improve your brand's
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perception or grow your customer base
by teaming up with another brand,
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you'll have access to that audience as
well as building trust by association.
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You'll also have the added benefit
of two marketing efforts on that
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particular co-branded product or
service, you could also come together
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and move into a different market than
the one you're currently serving by
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teaming up with a strategic partner
that could provide a co-branded
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offering into that different market.
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And with a year we just had, and the year
that's looking ahead of us, hopefully
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getting back on track some strategic and
innovative ways that you can move forward.
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As many strings to your bows,
you can have are only going
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to be good for your business.
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A few key takeaways.
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If you're looking into co-branding, you
need to make sure that it is in line
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with your brand and it is strategic.
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And that you share the values
with the other brand you're
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looking to partner up with.
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There's nothing worse than
partnering up with a brand.
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That you don't share values with
that can get messy down the line.
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You don't have to have a
huge brand to do co-branding.
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You can do this at any size.
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In fact, it could be good to
utilize it in early stage.
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With a particular strategic partner,
especially if you're looking to come
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together and look at other markets or
ways to develop your existing brands,
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so think about how you can create a new
product or service with a co-branded
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partner and how you could use that to
potentially target a new niche, or you
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could combine a set of services into a
hybrid service that is co-branded that
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you can use to target a similar audience
or a differentiated audience than what
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you're already using, or you could
combine a set of complimentary services
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and put them into a hybrid and co-branded
hybrid as a new package service offering.
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To Co-brand and effectively make
sure you utilize both brand's
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strengths when putting together
that new product or service.
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If you're interested in developing
your existing brand or taking a new
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brand and launching a new brand, we
haven't twenty-five day online course
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that will help you to build out
your internal brand and develop your
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external brand so that you can reach
the audience you're trying to reach
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and build shape and grow that brand.
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So if you're interested, there is a
link in the description below if you've
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enjoyed this video and you'd like
to see more videos come out weekly.
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And they're designed to help you
unlock your brand's potential
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so you can stand out from the
competition and create impact.
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Have a great week, catch up soon
and keep those brands unified.
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