Are you trying to find ways to Brand Partnerships with other businesses? Do you want to work with companies thats share your values?
Consider partnering with other businesses for a variety of reasons.
For instance, you could wish to partner with a company that upholds your values because you trust the quality of their products.
Or perhaps you want to partner with a business that has objectives similar to your own because you want to support each other’s success.
But where can you find these kinds of brand alliances? And how can you make that you are paid for your work? This article will discuss 20 examples of brands who partnered well as a team. Additionally, I’ll describe how to create your brand partnership plan.
Statistics
- As a result of their co-branding partnership with Kanye and the cult-like Yeezy following, Adidas had a fantastic year in 2019. Their net income increased by 19.5% to $1.9 billion.
- Recognizable brand names are trusted by consumers in a whopping 57% of products.
- Innovation: The Apple Pay brand partnership between Apple and MasterCard, noted for being innovative in the digital wallet industry, is recognised by 29% of consumers.
- Quality: Consumers who consistently offer high-quality products and services from brands continue to purchase from them in the proportion of 44%.
38 percent of consumers said they won’t try co-branded products that don’t seem to be of any use.
- Audience-Minded: 43% of consumers are devoted to at least one food and beverage company, which is frequently complimented for branding that recognises target audiences.
- More than half of US consumers (57%) believe that well-known brands are more reliable than unknown products.
What Effective Brand Partnerships Do for Brand Equity
Brands are always trying to increase their brand equity. Establishing solid brand partnerships is one of the finest ways to achieve this. Both parties benefit from increased visibility and awareness when brands partner.
For a variety of reasons, partnering with other companies might be beneficial. You can create a synergistic relationship between two businesses, for instance, if your products complement those of another company. I
Additionally, collaboration with other businesses can result in more sales prospects.
Advertising-related partnerships are among the most popular types. Brands routinely work to promote one another’s products and services. As both companies acquire exposure and visibility, these partnerships may be beneficial to both parties.
Joint ventures, licencing arrangements, and franchising are a few further types of brand partnerships.
Selecting the best solution depending on your business’s goals is essential because each type of brand partnership offers advantages of its own.
For instance, a licencing arrangement can be excellent if you want to sell products that complement those of another company. However, a joint venture can be preferable if you’re hoping to obtain access to a certain market.
It’s key to remember in mind that strong relationships are essential to developing brand equity, regardless of the type of brand partnership you choose to seek.
You may expand your consumer base, attract new customers, and reach more money by partnering with other companies.
Why Do Brand Partnerships Succeed?
In order to expand their consumer bases and reach new audiences, brands constantly strive to do so. Brand alliances are one approach to accomplishing this. Brands can create distinctive products and services through these collaborations that appeal to both parties and the brand.
This is a tactical marketing strategy that enables companies to give their consumer bases new products and content.
Brands can partner with one another in numerous ways. Several examples include:
* Using one another’s products to promote
* Planning collaborative promotions
* Offering special discounts
* Providing specials
* In addition to all of this,
Brand alliances can benefit both parties in addition to these advantages. For instance, partnering with another brand could give a company access to a new audience if it already has a sizable Instagram following.
It’s crucial to remember in mind that executing brand partnerships isn’t always simple. To succeed, both businesses must accept the terms and circumstances and be willing to set aside their differences.
However, brand partnerships may be quite profitable if both parties are dedicated to working together.
Building Brand Partnerships: Four Tips
Creating brand partnerships is a great strategy to expand your business and reach new audiences. However, establishing these connections successfully requires work and preparation.
Here are five tips for creating brand alliances:
- begin early. It’s better to create developing brand partnerships than to wait and strive to do so. Building credibility and trust will be simpler the earlier you begin.
- Make it your own. Working with other businesses makes it simple to narrow your attention to just the bottom line. However, you must put yourself in your partners’ shoes if you want to create enduring connections. Ask them about their objectives and difficulties, and listen close attention to their responses.
- Keep it truthful. Don’t make an effort to care about something you don’t. Show a sincere interest in your partner’s company and its products instead. You’ll give across as someone who actually cares about their success if you do this.
- Maintain consistency. It’s essential to maintain consistency once a relationship has been established. Be dependable and trustworthy, and keep your promises at all times. This will broaden your consumer base and guarantee that your devoted customers will continue to pay.
Brand Partnerships’ Advantages
Brands are constantly looking for new audiences to reach with. Brand partnerships are one of the most efficient ways to accomplish this.
These brand alliances enable brands to collaborate to develop distinctive customer experiences.
For instance, if you run an coffee shop, you might partner with a nearby brewery to offer customers who purchase both products special discounts.
You might also partner with a nearby winery to conduct wine tasting events at your restaurant during dinner hours if you own one.
Both parties benefit from these types of partnerships. The client brings an enjoyable encounter that strengthens their bond with the brand. They get access to a new market thanks to the brand, which also promotes their products.
Even though these brand alliances are growing in popularity, careful planning must always be kept in mind.
Make sure a brand partnership fits with the objectives and core values of your business before agreeing to it. A
Also think about if it would be advantageous for your company to go on working with the brand even after the partnership has ended.
Companies partnering with influencers constitute another type of partnership in addition to brand partnerships.
Because it enables brands to connect directly with consumers, influencer marketing is a potent tool for businesses. It’s a great approach to increase awareness and sales.
When an influencer has credibility in their niche, influencer marketing is most effective. If you sell makeup, for instance, you might pick an Instagrammer with a large following of women between the ages of 18 or 30.
Look at the blogs and social media pages where your target audience discovers influencers. Next, get in touch with such people and inquire about their interest in taking part in your campaign. Once you’ve identified someone who seems to suit, make sure to factor them into your strategy.
It’s also essential to consider how long the partnership will survive. Giving the influencer a minor equity stake might not be worth it if you only need them for one day.
However, you should most likely pay the influencer a bigger wage if you require them to promote your brand for a number of months.
Successful Brand Partnerships
Waze and Dunkin’ Donuts
Waze and Dunkin’ Donuts are both navigational apps. The two companies teamed to offer Waze drivers who were travelling close to a Dunkin’ Donuts free coffee. By scanning a QR code thats was printed on the cup lid, drivers may take advantage of the offer.
Dunkin’ Donuts expanded the partnership to further cities since it was so successful. More than 1,000 venues in the United States are now covered by the programme.
Partner between brands can lead to this kind of success. Businesses may create stronger relationships and get greater outcomes when they work.
Red Bull and GoPro
One of the most well-known as camera brands in the globe in recent years is GoPro. Its popularity has soared as a result of its ground-breaking products and outstanding customer support. GoPro cameras are being used by athletes and famous people equally.
GoPro is still developing and branching out into new markets today. However, it continues to be a manufacturer of cameras.
And GoPro distinguishes out from the competition as many companies strive to join the bandwagon and create partnerships with well-known brands.
What makes GoPro unique?
Considering that it puts excellent products first rather than merely attempting to capitalise on a fad. For instance, the company partnered with Red Bull to create the “Ride Like a Pro” competition.
The goal of the competition between riders was to earn prizes and bragging rights. Additionally, GoPro created a special edition camera that could record video of the event.
Working with partners should be considered while looking for ways to improve your business. You’ll expand your customer base and boost sales by working together.
Kanye and Adidas
In the modern world, brands frequently collaborate with other businesses to develop distinctive goods and experiences. Kanye West and Adidas are one instance of this.
They teamed to create the Yeezy Boost 350 V2 sneakers, which were introduced earlier this year.
Many admirers couldn’t wait to get their hands on these shoes because this co-branding partnership was such a great success. In fact, after going on sale online, the shoes were gone in a matter of hours.
Even though this brand collaboration was successful for both brands, Kanye has worked with other companies before.
He previously worked with Nike to create his YEEZY clothing line. On his album Life Of Pablo, Adidas also worked with him.
Both Louis Vuitton and BMW
A limited-edition line of handbags and accessories was made possible thanks to a collaboration between BMW and fashion designer Louis Vuitton. Three distinct bag styles will be a part of the collaboration, which was revealed during Paris Fashion Week.
The bags will bear the LV logo and will only be offered by a few international retailers. Every bag will cost USD $2,000, and purchasers will also get a free pair of shoes.
Another illustration of how companies work to create innovative products and services is the partnership under discussion. It’s fascinating to observe the lengths to which brands will go to reach customers.
Coffee shops and Spotify
Starbucks and Spotify have teamed to offer free wireless headphones to customers who purchase a cup of coffee. Customers may listen their favourite beverages and music thanks to the partnership.
The Bose SoundLink Color Bluetooth speaker or the Beats Solo3 Wireless Bluetooth speaker are available for customers to select when they purchase a drink at Starbucks. They can then sit down and enjoy their beverage while using the headphones.
Users of Spotify can use their headphones to access all of their playlists. Without downloading them to their phones, customers can listen to tunes.
A great approach for Starbucks to connect with its customers is through this partnership. In addition to offering a practical product, they also give people something to occupy their time as they wait for their drinks.
Itunes and Uber
In today’s world, brands are working harder than ever to develop relationships with other companies.
Businesses, especially those who wants to reach a larger audience, are increasingly embracing these strategic partnerships. Two successful brand alliances include Uber and Spotify.
In order to create customers an exceptional experience, the two companies have worked. For instance, Uber and Spotify have teamed up to provide free rides to users who download the app. Additionally, Spotify and Uber have teamed to offer discounted fees to drivers.
Brands are becoming more noticeable in the congested market thanks to these types of collaborations. By collaborating with other businesses, they can create fresh goods and services that guide customers toward more informed choices.
LinkedIn and Levi’s
Brands now frequently use Pinterest to connect with consumers. In fact, Levi Strauss & Co. and the social network recently partnered to create a line of denim pants based on the emblem of the legendary brand.
There are six various styles of jeans in the lineup, each with a distinctive pattern on the design.
In addition to working with companies like Levi’s, Pinterest is also partnering up with other brands to develop new products.
For instance, the company and Coca-Cola recently teamed to launch a series of limited-edition cans with CokeandPinspiration. To commemorate the iconic Coke bottle’s 100th birthday, these cans were created.
HM and Alexander Wang
Two brands that have partnered successfully include Alexander Wang and H&M. Due to the fact that both businesses could draw strength from one another, the brand collaboration was successful.
Alexander Wang has a strong history in fashion, and his creations are consistently innovative and cutting-edge.
Customers can choose from an wide range of products at H&M, and designers can display their creations.
An exhibition in New York City served as the catalyst for the collaboration between these two companies. It included some of the most important fashion icons of our time, such as Marc Jacobs, Proenza Schouler, and Alexander Wang.
Fans were able to view the designs the designers had been working on over the previous year during the event.
Then, H&M made the decision to partner with Alexander Wang to realise his work. They debuted a men’s clothes capsule line that featured shirts, pants, and accessories.
Fans could purchase merchandise directly from the website or through specific retailers.
This co-branding partnership demonstrates how crucial it is for brands to work together. They can creates better products and services for consumers by joining forces.
Snapchat and Nike
Snapchat is a well-liked social media site that many teenagers and young adults use. In order to promote its most recent sneaker campaign, Nike wants to reach out to this demographic.
In order to provide users with a behind-the-scenes look at the shoe-making process, the brand teamed up with Snapchat.
Snapshotters were designed access to a certain store to observe the creation of sneakers. They get access to special content and learned about the technologies used in the shoes.
Nike intends to continue using Snapchat as a marketing tool in the future because the marketing effort was so successful. Brands may reach new audiences through this kind of collaboration while also sharing useful information.
Coca-Cola and Instagram
Facebook Inc. owns Instagram, a well-known photo-sharing application (NASDAQ: FB). Coca-Cola recently partnered with the social media platform to create a series of photos and videos honouring the 100th birthday of the recognisable red plastic bottle.
People were motivated by these posts to use the Coca-Cola Inspiration tag to share their original concepts and works of art. People might win prizes including vacations to Universal Studios Hollywood and Disneyland Paris by sharing photos and videos.
Celebrities including Justin Bieber, Ariana Grande, and Selena Gomez as well as Coca-official Cola’s Instagram account submitted these photos and videos.
This content partnership serves as an example of how brands may use social media to connect with customers and forge connections. To improve awareness and boost sales, companies can think about partnering with related brands.
McDonald’s and Burger King
Consumers have grown more used to fast-food chains in recent years. In fact, Statista reports that Americans spent $1.2 billion on fast food in just one year. For two companies that were formerly competitors, that is a major deal.
The McWhopper sandwich was made possible thanks to a collaboration between McDonald’s and Burger King. The partnership has been successful since it was announced in March 2016.
Business Insider claims that the McWhopper had a nearly 20% spike in sales following its launch.
Brands may benefit from working together in this way, to the benefit of all parties.
Burger King is exposed to a new demographic, whilst McDonald’s gains access to a larger client base. Additionally, customers may favour the flavour of one brand over another.
Even though the McWhopper is still quite new, it is obvious that its popularity will increase over time. We can work similar partnerships as long as the two companies continue working together.
Taco Bell and Doritos
In recent years, the fast food restaurant brand Taco Bell has grown in popularity. Glen Bell and his wife Elayne founded the company in 1962.
The Bell family solds PepsiCo for $2 billion back in 1984. Since then, Taco Bell has developed into a worldwide brand with more than 3,000 outlets.
Despite Taco Bell’s success, its parent company hasn’t always been able to take advantage of it. Before Taco Bell blended the two recognisable brands, PepsiCo struggled to sell Doritos Locos Tacos.
The Doritos Locos Tacos were created in 1985 by Frito Lay, Inc., a PepsiCo subsidiary. Sales, however, plummeted as a result of the product’s failure. The snack rose to popularity prior to Taco Bell’s arrival.
The Doritos Locos taco shell, which combines the crunch of Doritos chips with the soft taco shell, was created by Taco Bell in 1994.
Consumers adored the tasty blend that was the end result. Soon after, the company featured additional products with the same idea, such as tacos, burritos, quesadillas, nachos, and more.
Taco Bell’s menu is currently being expanded, with new items being added yearly. The company serves breakfast alternatives, salads, wraps, and other items in addition to the classic tacos, burritos, and quesadillas.
Tacos made with Doritos Locos are sold for more than $1 billion annually by PepsiCo thanks to Taco Bell’s popularity. Although the partnership between the two companies didn’t happen immediately, it paid off for both parties.
MasterCard and Apple
It was a big success for Apple when MasterCard partnered forces with them to launch Apple Pay. Through the collaboration, MasterCard gained access to customers while Apple was able to reach new regions.
MasterCard is a multinational American financial services company with its main office in Purchase, New York. The company, which was founded in 1850, offers businesses and people all around the world payment processing and electronic money transfer services.
MasterCard will supply credit card readers in Apple stores so customers may use their cards while making purchases with the iPhone or iPad as part of the deal.
Instead of using cash and credit cards to make purchases, users can use their iPhones or iPads using Apple Pay. A user only makes to place their phone close to the reader to complete a purchase, enter their fingerprint, and confirm the deal.
In addition to these, Apple Pay is compatible with the Apple Watch, Macs, and even automobiles. People no longer need to carry around multiple cards to pay for anything from groceries to petrol to coffee thanks to this functionality.
Since its service, Apple Pay has grown to support a wide range of retailers, including Macy’s, Starbucks, Whole Foods Market, etc.
Apple and Nike
Starbucks has teamed up with McDonald’s to provide free WiFi access, while Nike and Apple have collaborated to create the Nike+ FuelBand fitness tracker. These partnerships benefit both parties involved, which is a win-win situation.
The Nike+ FuelBand is designed to make it easier for people to keep track of their everyday activities and accumulate points through exercise. The device is worns on the wrist, and users use Bluetooth to connect it to their smartphone.
Once the wearer is connected, the app keeps track of how much time is spent exercising, walking, jogging, bicycling, swimming, and working in sports.
Users may then see their progress on a graph and get alerts when they reach particular milestones. For instance, if a person takes 10,000 steps in a day, they will receive a notification.
The Nike+ FuelBand not only monitors physical activity but also offers feedback on eating patterns to assist users in controlling their weight.
This is a accomplished by keeping track of the calories expended during activity and contrasting them with the total daily caloric intake.
Available in black, grey, green, orange, red, white, yellow, blue, and pink, the Nike+ FuelBand costs $149.
Airbnb and LEGO House
In order to create visitors to Amsterdam a unique experience, the two companies teamed.
This partnership was created to give visitors the chance to see the well-known city while lodging in a distinctive setting.
The LEGO House was available for guests to enjoy in while taking a personal building tour. Airbnb offered free housing and admission to exclusive events in access.
Although The LEGO House welcomed visitors in 2016, Airbnb assisted in bringing in more than 50,000 visitors just in 2017. Each year, the relationship between the two businesses gets stronger.
The United Nations and Google
Google recently announced that it would give $1 million to UNICEF in support of educational initiatives all throughout the world. After giving $2.5 billion to charity in 2014, Google made this donation.
Children are given access to food, clean water, healthcare, and education thanks to UNICEF. UNICEF hopes to improve the lives of millions of children worldwide through these initiatives.
The company hopes that by making this donation, it would inspire others to do the same and assist organisations like UNICEF.
IKEA and LEGO
IKEA and LEGO have long had a close relationship, but recently the two companies decided to collaborate to create a line of LEGO kits that are inspired by IKEA furniture. A series of LEGO sets that comprised anything from kitchen appliances to bed frames were produced as a result of the successful collaboration.
The power of brand partnerships is demonstrated by this partnership. It goes without saying that brands benefit the most from collaboration with other companies.
A win-win situation is ones in which both parties benefit from the deal. The collaboration between LEGO and IKEA not only resulted in the creation of a fun and distinctive range of products, but it also raised visibility for both businesses. The word travelled quickly since people were likely to remember both brands.
Disney and MAC
Disney and MAC Cosmetics have always had a close partnership. The Mickey Mouse line and the Beauty and the Beast Collection are just two examples of the numerous projects on which the two brands have worked together.
In fact, after Disney purchased Pixar Animation Studios, one of the first companies to partner with them was MAC.
In addition to working on products, the two companies have also worked events.
For instance, last year in Disneyland Paris, MAC organised a special “Beauty and the Beast” event. Makeup artists from both brands featured in the event and created looks based on movie characters.
Disney announced last month thats it would launch its “Mickey Makeup” cosmetics line.
The brand will offer blushes, eye shadows, and lipsticks specifically designed for children between the ages of 8 and 12. Additionally, a limited-edition lipstick featuring Belle from the Disney animated feature Beauty and the Beast will be included. This partnership still exists today.
Even while the Disney and MAC collaboration is undeniably thrilling, this is not the first time these two brands have teamed together. Disney introduced a beauty line starring Cinderella and her sisters back in 2014.
Four eyeshadows, six lip glosses, & three lipsticks were all part of the collection.
Disney and MAC’s continuous partnership is still going strong. Disney recently just unveiled a brand-new beauty line starring Ariel and other princesses from their most well-known films. Eight lip glosses, five lipsticks, and 6-eye shadow palettes are included in the collection.
Michael Jordan and Nike
Undoubtedly, Michael Jordan is 1 of the most well-known athletes of all time. He has captured three Olympic gold medals, five NCAA championships, and six NBA titles.
His success continued after that. Jordan also started his own business. He now owns numerous sportswear and footwear companies, including Nike.
Since 1987, Jordan and Nike have been working together. In hit, Nike released the Air Jordan brand, which soon gained popularity among basketball players all across the world. The two companies have kept up their partnership ever since.
They have worked on a wide range of tasks, including the yearly Chicago Jordan Brand Classic tournament series.
In 2017, Nike released a line-new shoe collection with styles inspired by Michael Jordan’s recognisable sneakers. The only places to buy the shoes is at a Jordan Brand store. Jordan and Nike are still working together today, and they continue as a partnership for companies considering branded alliances.
American Express and Amazon
To provide free two-day shipping on qualifying purchases for Amazon Prime members, Amazon has teamed up with American Express. The brand partnership was announced last-month, and a launch is anticipated for early in 2019.
For both companies, this decision may turn out to be quite beneficial. They have access to millions of potential customers who might not otherwise shop with them thanks to Amazon. Additionally, it enables them to compete with merchants who provide free shipping.
It gives American Express another way to reach with consumers. They now have direct access to millions of American homes thanks to the addition of Amazon Prime.
They can then offer these consumers exclusive deals and discounts that they wouldn’t get if they were making their purchases from third-party websites.
American Express has teamed with Walmart to offer its cardholders discounts on a number of items in addition to its brand partnerships with Amazon and Walmart. Through these partnerships, each company is able to take market share away from its rivals.
Questions and Answers:
Why Do Brand Partnerships Succeed?
The concept of brand alliances is not new. The “big three” brands—Coca-Cola, Pepsi, and Dr. Pepper Snapple—have been cooperating for decades, working with the times when Coca-Cola and Pepsi were competing for market share. Finding a common ground is the key to any successful brand partnership. You have a chance to develop a special good or service that nobody else offers when you discover something that your rivals don’t provide, or vice versa.
What Drives Brands to partner?
There is an easy solution. It’s because it works! The most frequent reasons for brands to collaborate are to: Increase brand recognition and sales; Establish an online presence that differentiates themselves from those of their rivals; Generate additional revenue by providing goods or services that complement those of their partners; Promote their own goods or services in exchange for payment; and Strengthen the bond with their target audience.
What exactly are brand-to-brand partnerships?
In recent years, brand to brand partnerships (B2BP), a new marketing tactic, have become increasingly well-liked. It’s a successful strategy for forging enduring bonds with your customers and winning over ardent supporters who will help spread the news.
Conclusion
Brand partnerships are a potent tool for extending its reach and connecting connections with new audiences, in conclusion.
They have an number of benefits over conventional advertising strategies, such as higher exposure, reduced costs, and more flexibility.
