What is it and why should you take advantage of it?
Co-branding or partnership branding is when two or more companies jointly create, market and/or sell a product or service.
This can be beneficial on many levels, creating greater awareness for a new audience, increased market share, or improving brand image to name a few.
Many established businesses have used this when venturing into an unfamiliar sector. When Apple launched the running version of its Apple Watch they chose to partner with Nike. This instantly enhanced their credibility within the running fraternity and showcased their latest product to a new audience.
On the part of Nike they created the Nike+ Run Club App which was promoted by Apple to customers buying the watch as well as benefitting hugely from the tech giants technical know-how.
It was a logical pairing given that the businesses have similar philosophies in spite of differing audiences.
There have also been tie-ups between GoPro and Red Bull, BMW and Louis Vitton as well as the more surprising Adidas and Lego venture that was recently launched.
This can be beneficial on many levels, creating greater awareness for a new audience, increased market share, or improving brand image to name a few.
Many established businesses have used this when venturing into an unfamiliar sector. When Apple launched the running version of its Apple Watch they chose to partner with Nike. This instantly enhanced their credibility within the running fraternity and showcased their latest product to a new audience.
On the part of Nike they created the Nike+ Run Club App which was promoted by Apple to customers buying the watch as well as benefitting hugely from the tech giants technical know-how.
It was a logical pairing given that the businesses have similar philosophies in spite of differing audiences.
There have also been tie-ups between GoPro and Red Bull, BMW and Louis Vitton as well as the more surprising Adidas and Lego venture that was recently launched.