Co-branding is nothing new, and it’s something that we as consumers take for granted. Visit a grocery store and you’ll see dozens of examples, from the ice cream aisle–Breyer’s and Hershey; the snack aisle–Lay’s and KC Masterpiece; to the cereal aisle–Kellogg’s and Healthy Choice; to the dessert aisle–Cinnabon and Mrs. Smith’s.
But what can co-branding mean for your company? As a marketing director or business owner, in these “economically challenged times” you know that more than ever you must get your brand in front of eyeballs in order to make the sales. But how can you do that with such a tight marketing budget?
Combining co-branding with the concept of Guerrilla Marketing can be massively effective! Just what is co-branding? Co-branding is teaming up one brand with another harmonious brand in order to merge customer/client bases to stimulate and maximize brand awareness, sales, and service to the client or buyer. This can be done at B2B events, trade shows, fund raising events, seminars/workshops, website and/or product launches, or traditional retail point of purchase.
For example, a local bank teams up with a financial software company. The bank would present an ad campaign to its customer base for investing in their Certificates of Deposit; and in return receive a complimentary copy of the branded financial software (a $495 value!).The Bank uses the software as an incentive to close the sale (paying next to nothing for it); and the software company gets the advertising exposure to the bank’s customer base! The financial software company can follow up with other offers, depending on the arrangements with the co-branding partner.
You may find co-branding examples in the automotive world–Coach and Lexus; the hospitality industry–Bulgari and Ritz-Carlton; the footwear business–Disney and Crocs; the franchising world–Tim Hortons and Cold Stone; the airline industry–Southwest and SeaWorld; and think about the product catalogs stuffed into airplane seat pockets-these are all examples of co-branding.
How does the concept of Guerrilla Marketing fit in? Guerrilla Marketing was written about and defined by Author Jay Conrad Levinson. It is the idea that marketing can be effective and inexpensive if done intelligently. The point is, your company or brand doesn’t have to be a corporate giant to benefit from a co-branding arrangement. You just have to use a little creativity, resourcefulness, and a bit of moxie.
Increasing the exposure of your product, business, image, cause, or event by using co-branding to an existing customer base while sharing the costs with your co-branding partner can effectively cut your marketing budget in half…and double your exposure at the same time! On my calculator that is cash flow multiplied times four!
A savvy marketing consultant can analyze potential co-branding partners; and present them with a co-branding proposal that will save both brands much money, and double the cash flow success for everyone.
Ms Nelson is a the founder of The AdStuff Company in 1996; which specializes in co-branding with logo branded promotional products applying the concept of “cooperation.” Some of her clients include Dunkin Donuts, Prada, USA Ski, USA Water Polo, Hewlett Packard, Harlem Globetrotters, Global Action, Athletes in Action, Johnson & Johnson. She has been nominated for the Entrepreneurial Excellence Award given by WORKING WOMENS MAGAZINE; as well as Ms Corporate America 2008 National Finalist.
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