Brand partnerships that work don’t happen by accident. They are born of thoughtful collaboration, strategic thinking and a realistic vision shared by both parties.
When done right, brand partnerships can have the power to elevate both brands. But, you can't force a connection. There's gotta be a spark. You want to have common ground with the other brand, but not so much common ground that you're competing with each other.
How do you know they're the one?
The key to any good partnership is making sure its authentic. If a partnership doesn't feel true to your company's roots, your customers will know. The best partnerships work so well together that people don't even know its a partnership. The marriage between the two brands is so natural.
First things first, there's gotta be common ground. Find the shared thread between the two brands. Maybe your brands share a mission, have similar audiences, beat to the same aesthetic drum - whatever it may be, make sure you complement each other.
What do you want out of the relationship?
Forgive us for sounding like Dr. Phil here, but you have to think about these things before you dive into a brand partnership. Do you want the same things in life? Do you have the same values? Do you both want kids?
All jokes aside, your partnership should be mutually beneficial. You should make each other better. Maybe your partner can offer your consumers something of value that you can't. Maybe you can combine your service offerings and be the total package. Gym, tan, laundry anyone?
Both companies' goals for the partnership should align. The cross-promotions should resonate with both audiences and provide value that wasn't there before.
These brand partnerships are the ones we all aim to be. The
- Spotify + Hulu - they got together to bundle their services and simply completed each other.
- Apple + Nike - the personalized workout tools that changed the game.
- GoPro + RedBull - a scary combination to anyone but their thrill-seeker audiences.
A brand partnership should be viewed as a strategic coupling. Two groups getting together to raise the tides for both boats.
If you can find a common thread that can ties your brands together in an authentic way, you could reap some serious benefits. Whether you want to reach a new audience, disrupt your industry, spread your message or double your sales - a brand partnership may be the key.
Let us help you find the right fit for your goals and watch the magic happen.