Co-branding is a popular tactic within the marketing and advertising world and is something that your small business should take advantage of if you see an opportunity. This common practice has positive reasons why you should consider this strategy. But let’s start with the basics.
What is Co-branding?
Co-branding is the marketing partnership between two or more companies to help create a mutually beneficial relationship. Have you seen a commercial for a product that meshes two of your worlds together? Maybe you've seen the Toyota commercials where Buster Posey is in his Giants uniform. Co-branding is used all around you and this is a marketing and advertising tactic that your small business should be considering for strategy.
Why Should You Co-brand?
One of the great reasons to co-brand is that you're able to gain value and clout by associating your company with a well-established brand. Another reason is to tap into the other brand’s customer base. Wouldn’t it be nice for your small business to gain value while gaining more customers? Then this strategy might be just for you.
Examples of Co-branding
Many businesses have been leveraging their exposure by co-branding with Star Wars. If you haven’t seen any of the advertisements for the new Star Wars movie "The Force Awakens," or even the co-branding that you can see/hear through the form of commercials, in grocery stores, and even toy stores then you must be living under a rock. Companies everywhere have been using the hype of Star Wars to increase the exposure of their own brands.
Check out this commercial by Subway:
Subway not only appeals to Star Wars fans everywhere, it's also promoting a chance for participating customers to win prizes that are Star Wars themed. This is a great way to gain more customers but also collect contact information from participating customers to continuously nurture them to be returning customers through email marketing.
Want to look at more examples of companies co-branding with Star Wars? Then take a look at this article by AdWeek.
We understand that you might not have it in your budget to collorabate with Disney, but you can co-brand with other businesses that are closer to your size. If you're interested in co-branding your small business but having a hard time being creative while still be effective, then contact us at Half a Bubble Out today.