If you’ve ever met somebody for lunch at the combination Pizza Hut and Taco Bell, you know that co-branding can get double the visibility for each company by pairing them together.
Of course, co-branding extends beyond simply housing two disparate businesses under the same roof and giving customers a choice. Strategic brand partnerships can be mutually beneficial to the marketing goals of each, and can be carried out as one-off campaigns or more long-term relationships.
When brands collaborate with each other, they both dip their toes in portions of their audience’s routine in which they may otherwise not be relevant. When Nike+ launched in 2006, it made almost too much sense – the coolest sports brand and the coolest tech brand both aligning to change the fitness game forever.
The best B2B content
In the B2B world, some of the best content is created when influencers in a specific space bring their knowledge together on the same topic. Last year, we launched the Monsters of Funnel eBook. Of the thousands of marketers we meet each year, most are focused on the same thing: their funnel.
This shared interest in maximizing every stage of an organization’s funnel prompted us to reach out to other leaders in the industry to make the best piece of useful content possible through collaboration. Through the combined efforts, a total of 71,975 names were invited to read the content and over 18,000 people downloaded the book. Combining all metrics (including pipeline wins), the final calculation for ROI was over 4,000%! It doesn’t take a rocket scientist to understand why we released a second version this year as well!
Increase brand awareness and reach
Co-branding is all about highlighting your strengths together in such a way that when people see the content, the relationship makes sense. Because both brands share the risk when they go all-in on the same idea, partnerships tend to bring out the best in each. And this is important, because each brand is likely introducing itself for the first time to an untapped segment of the other’s market.
Strategic pairings can greatly increase brand awareness and reach. It’s like when your charming, popular, life of the party best friend introduces their new significant other to the group – the new audience is already primed to trust their decision-making and like the new entity by extension.
The effect co-branding has on reach is one major reason why influencer marketing has taken off as a viable brand strategy. By combining forces through shared and joint content, both parties are able to leverage already-established fanbases and connections.
Reduce your workload
Another benefit of collaboration? It’s less work for you! It allows for brands to share leads and share loads, which is as good a marketing win-win as you’re likely to find. The onus to do all the heavy lifting on, for example, the creation of an ebook is taken off you and shared equally with your co-sponsoring partner.
From a business perspective, co-branding efforts effectively double the budget for marketing asset creation while halving the hours needed to get the job done. If both partners share a value system and are creatively aligned, there shouldn’t be too many hiccups.
If you’re an industry-leading brand, you can use co-branding as a signal of your strength. For up-and-coming companies, collaboration can be a slingshot to prominence. Find other brands you admire and respect who aren’t direct competitors, and see what your collective mind can yield.
Meet Natasha Ness
With a background in both graphic design and adult education and training, Natasha brings a unique creative eye to everything she’s apart of. Using both her analytics skills and artistic know-how, she can quickly synthesize raw content/data and convert it into anything from an infographic, an informative video, a snazzy new user interface, maybe even a cute animation or really anything else you can think of! Natasha has an extreme passion for marketing, education, and the user experience that helps take LeadMD and their clients to the next level.