Top 6 reasons to co-brand and how to harness its power:
Reason and tactic #1: The Halo Effect: Partner with brands that have a stronger equity than yours so the partnership can elevate your brand’s equity and brand strength as well.
Reason and tactic #2: Increase your visibility: Now you not only have you and your team working to get your brand and your content out there, but now you have the social media and press teams of the brand you partnered with working to promote your co-branded content as well – the more channels and people working to promote your brand, the better.
Reason and tactic #3: The credibility factor: When you partner with credible and well-known brands, it gives your brand even more credibility because they choose to partner with your brand. But be aware, any negativity or shadiness on their part could negatively affect your brand’s reputation if you are associated with them. Remember the old adage: birds of a feather, flock together.
Reason and tactic #4: Defining your brand: Partnering with brands with clearly defined attributes can make it easier for others to understand your brand since brands with similar attributes, and brand purposes are more likely to form partnerships. For example, I recently re-partnered with Teen Vogue to debut their back-to-school fashion tips and style trends. What is Teen Vogue known for? Being trendy, fashionable, reputable, in-the-know, and aspirational – ideally others will see my brand as the same and these attributes will help define my brand within the industry.
Reason and tactic #5: Elevate your brand’s reputation: Partnering with brands that have positive and strong reputations can help to up-level your brand’s reputation just by association. This ties back to credibility – partnering with reputable brands can help others to buy-in to what your brand stands for and believe in the product or services that you are trying to sell them.
Reason and tactic #6: Gain access and exposure to their fan base: While promoting, sharing, and posting the co-branded content, your brand is gaining instant visibility and access to their fan base and hopefully you will be able to gain some of their fans and consumers as well who may not have otherwise been exposed to your brand.
Want to see co-branding in action? Enjoy my co-branded on-camera fashion segment with Teen Vogue on back to school fashion, trends, and styles.
Interested in how to find co-branding opportunities for your brand? Follow @candywashington and tweet me your questions and leave comments below. Happy co-branding!
I originally wrote this article for Ms. In the Biz.
