When marketing your company, or its products it's important to think outside the box in order to get the general public interested in what your brand is selling. One idea for a different way to market your company is co-branding.
What is co-branding?
Co-branding is when two companies develop and create a product together, along with also marketing it and selling it on both of their platforms. There are many benefits to co-branding because it combines the creative skills and manpower of two companies for one single product. It’s a great marketing tactic because it also allows for your brand and your partnered brand to grow their audience by working together.
Where to start?
It’s very important to choose a brand that makes sense with yours in a co-branding partnership. It’s vital that you do research in finding a brand with a similar audience and demographics, but not similar enough where it won’t bring in new customers. Reaching out to brands via email or social media is a great idea to see if they would be interested in a collaboration.
The size of the brand that you are partnered with could greatly impact the amount of new customers you could possibly gain. If you land a partnership with a well established brand with a loyal customer base, this could mean a large new demographic that knows about your brand and your products.
Some other benefits to a co-branding collaboration between two brands could be an increase in social media following because of the new internet traffic due to customers from the partnered brand. This could also cause an increase in sales and publicity for your brand.
This is also an opportunity to create new and exciting content for your brand. Bringing in new ideas through this collaboration could cause a huge impact in your company.
Don't forget that you can also collaborate with influencers, celebrities and/or artists to reach a different type of customer. Personal branding is another possibility for a good co-branding strategy.
At KODD Group, we support you in the development of your business by focusing on growth marketing. We are a new generation Media and Agency that promotes the know-how of people from the fields of fashion, beauty and culture. Our motto is Discovery!