A brand partnership can be defined as a cooperation between two or more brands with certain objectives.
Brand cooperation means partners share assets and capabilities in order to develop unique solutions, goods, or advertisements that can benefit both brands.
The objective of this practice is the following: the ability to tap into new markets, enhance the perception of your brand, boost market share, and share new values that would probably be hard coming if one struggled to find them alone.
Brands collaborate for many reasons, including:
1. As with any form of marketing cross-selling a partner brings new target markets and exposure to clients who are unfamiliar with the brand.
2. Economies of scale/markets/scope. when costs and benefits are shared brands can reduce costs and expenses, and increase the efficiency of the marketing or product development process among other things.
3. Guaranteed brand quality and receiving a positive image In cooperation with a reputable brand or a celebrity, consumers will form a positive attitude toward the brand, and the company’s brand will gain more credibility.
In co-branding, there are often common promotional activities such as joint advertising appeals, sale offers, packages, or specials.
5 examples of brand collaborations are offered by BrandOn, and you should take hints from these as they are really effective.
As one, it is time to look at case studies of how industries have leveraged collaboration as a way of developing new propositions that have helped brands create awareness of their offerings and be able to capture fresh markets.
1. Apple and Hermès.Co-branding was at its peak when Apple S invented the Apple Watches and incorporated the Hermès logo to develop branded exclusive watches that incorporated Hermès leather straps in 2015.
The purpose of this synergy was to deliver technology and fashion, adopting the approach of presenting products that are both beautiful to look at and functional to use.
Developing a new product that combines art and technology brought Apple to another market which is a fashion industry and on the other hand, the elegant lifestyle brand Hermès got to the market of technology and innovation-oriented people. The result: while official sales numbers have not been released, industry insiders believe Apple currently sells 40 million watches a year including the Hermes collection.
2. Uber & Spotify: The car booking and ride-hailing service Uber 2015 worked with Spotify so that drivers could choose the tunes being played to their passengers, integrating between the two services for a better experience. Passengers could select the song to listen to in Uber vehicles via the application Spotify using the music option called “The Soundtrack for Your Ride.”
Uber & Spotify meant a better experience for its passengers and placed Uber in a better position as compared to other competitors in the market. The result: because of the media publicity on the program, the number of average monthly users of Spotify instead grew from 68 million to 96 million in the first three months of 2015 to the first three months of 2016.
3. Adidas & Beyoncé:The Ivy Park joint collection with Adidas sportswear was launched in 2018 in a world for music mogul Beyoncé. Beyoncé and Adidas sportswear brands combined to empower women, whom they aimed to give the power to make unique choices. To raise awareness for this collaboration, both Adidas and Beyoncé posted about the drop on their social media networks.
The result: According to revenues that were expected in 2021, sales stood at $93 million.
4. Taco Bell & Doritos: This idea was created in 2012 when the fast food brand Taco Bell and the producer of chips Doritos jointly developed a product Doritos Locos Tacos – tacos from Taco Bell with a taste of Doritos chips. Taco Bell and Doritos used millions of fans of these brands to launch the products that resulted in great popularity and sales increases and became a great example of brand synergy in the sphere of fast food. The result: Thus, Doritos Locos Tacos quickly became one of the most iconic Taco Bell products; people bought more than 100 million of these tacos during the first two months on the menu.
5. Lego and Stranger Things: In 2019, the toy company Lego released a collaboration with the sci-fi television show Stranger Things to bring the show’s environment to life. With the help of complicated Lego constructions, the children managed to build various episodes and personalities of the program.
Appealing to Lego fans and Stranger Things audience in general, the collaboration lets them engage with the show’s world directly and tangibly.
The result: this cooperation proved to be the reason that allowed Lego to diversify their offer of products as well as Stranger Things – it made their universe known to a wider group of people. The first brand cooperation process in the Armenian market was Apache and Gyumri companies at the intercession of BrandOn. Together they launched a new product BBQ chicken wings spicy snacks for beer. Apart from the concept of the initiative, Brandon provided for the product branding, and packaging design and contributed to realizing the potential of the project in every stage.