When two brands come together, magic can happen. Co-marketing and co-branding actions allow us create synergies to increase visibility, reach new audiences, reinforce strategic values and, of course, optimize investment. Both actions have many advantages. However, we must fully understand its meaning as well as the keys to creating truly successful alliances. from the blog of Uzink, marketing consultants and branding agency, We analyze the differences through practical cases and show examples of co-marketing and co-branding.
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Differences between co-marketing and co-branding: they are not the same.
Although both concepts refer to the alliance between brands, there is a fundamental difference. With a co-branding action Two companies come together to create a new product or service. On the other hand, in a co-marketing action, the union of the brands is limited to a promotional action.
Also known as collaborative marketing or joint marketing, it is a strategy in which two or more companies work together to promote a related product or service, but keep their brands and products separate. Collaboration may include creating joint content, organizing shared events, running joint marketing campaigns, among others.
The main objective of co-marketing is to take advantage of the strengths and audiences of both companies to increase the visibility and reach of their products or services, as well as to share the costs and benefits of joint promotion.
Companies collaborate to develop a new service or product which incorporates elements of both brands. This joint product usually carries the name and logo of both companies.
The goal of co-branding is to create a positive association between the brands, leverage each company's reputation and customer loyalty, and ultimately generate additional sales through the combined strength of both companies.
Examples of co-branding
In the food industry it is a common strategy that results in the launch of new products. For example, the Philadelphia cream cheese with Milka or Danet custard with Chips Ahoy.
The world of fashion it also gives us numerous agreements. A recent example is the alliance between Berska and Reebok to create a new sports line. Fashion co-branding is very common.
Examples of co-marketing
We can find a wide variety of co-marketing initiatives at events, advertising campaigns, actions at the point of sale and, of course, on the Internet.
The Summer Expedition by Stradivarius and Vueling. The two brands came together this summer to create a original action aimed at bloggers influential. On an exclusive flight to Taormina, the guests were able to attend an original parade on the plane itself.
Starbucks and Spotify signed a collaboration agreement in 2015.
In Starbucks in the United States, the music that sets the space is played from the streaming platform Spotify. The chain's employees receive a Premium subscription, while Spotify subscriber customers are eligible for different rewards.
Who can your brand partner with?
Within a marketing plan, a co-marketing and co-branding action can be very beneficial, but also harmful. That's why, Choosing the perfect company is probably the most complex strategic decision.
First of all, we must define what objectives we want to achieve and, then, analyze which company we can join together to add notoriety without devaluing our brand image, brand values and sharing a target audience.
En uzink We believe that this type of alliance can be a very profitable tandem for brands. We will continue to share other examples that inspire us and, of course, if you know more case studies on co-marketing and co-branding, we invite you to share. See you soon!
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