Brand Partnership Strategy

The Art Of The Brand Partnership

In today's dynamic and competitive marketplace, forging strategic alliances has become crucial for companies looking to expand their reach, engage with new audiences, and create mutually beneficial collaborations. By unearthing the insights and strategies employed by successful brand partnerships, our goal is to equip you with the tools you need to develop transformative collaborations and unlock untapped potential. The power of the brand partnership should not be underestimated. At its core, it is an arrangement between like-minded brands that leverage each other's distinguishable qualities and create value for their customers.

As a business owner or marketer, understanding the ins and outs of developing meaningful connections that unlock growth opportunities can be daunting yet rewarding once mastered. From crafting story collaborations to shared costs, numerous tactics are available to leverage to deepen customer relationships while building a stronger brand identity across broader demographics. Join us as we delve into The Art Of The Brand Partnership and What You Can Learn From Them.

1. Identifying The Right Partner For Your Brand:

2. What To Offer In A Brand Partnership:

3. Establishing Parameters For Your Partnership Agreement:

4. Leveraging Each Other’s Assets:

5. Evaluating the ROI Of Your Partnership:

6. Examples Of Brand Partnerships:

7. What You Can Learn From These Brand Partnership Examples:

1. Identifying The Right Partner For Your Brand:

Ensuring your brand is partnered with the right organisations and individuals is crucial for success. It's important to take the time to identify the best partner for your brand who can add value and enhance your reputation and standing within the industry.

Various criteria should be considered alongside their clout and recognition, such as whether they fit your values, their engagement with other brands in your sector, what type of content they create, their connection to audiences, and whether they have engaged followers that may become actual clients of yours. Consider these factors when choosing a partner for your brand to ensure that your partnership brings a positive reputation, visibility, and credibility.

“54% of companies state that brand partnerships drive over 20% of their total revenue. 68% of consumers make buying decisions after viewing partnership campaigns. 74% of organisations reveal that brand partnerships and affiliate marketing are the top-most priorities.” Gitnux

2. What To Offer In A Brand Partnership:

Brand partnerships can effectively advertise your product, boost a campaign, and increase sales. However, creating successful collaborations can be tricky. An important aspect of a brand partnership is offering something beneficial for both parties. This could include providing joint promotional materials such as discounts or giveaways, teaming up for cross-promotional campaigns, developing unique products or services exclusive to the collaboration, or participating in cause-related initiatives.

Whatever you offer in your brand partnership should be expressed confidently yet with an informed and engaging approach. This way, those involved will maximise the collaboration and make sure they align effectively with their mutual goals.

3. Establishing Parameters For Your Partnership Agreement:

Before embarking upon a partnership, it is important to establish parameters to ensure successful collaboration and governance going forward. Establishing parameters for your partnership ensures both parties' roles, expectations, and responsibilities are clear to both sides. This can be done through written documentation such as articles of association or a memorandum of understanding and should be tailored to meet both parties' desired outcomes.

Agreement on these parameters helps build trust between partners, outlining clearly how the respective goals can be achieved together. By approaching a partnership with an informed but open mindset, both parties can find creative solutions that keep all partner's interests in mind for mutually beneficial outcomes.

4. Leveraging Each Other’s Assets:

Both parties in a brand partnership will have access to various assets. These may be databases, social media accounts, a website and other resources that can be utilised to help promote the collaboration. By leveraging each other's assets in a brand partnership, both parties can increase the impact of the collaboration. It can open up opportunities for both parties involved, as they can create something neither could achieve on their own, such as increased brand and product awareness and greater market share.

5. Evaluating The ROI Of Your Partnership:

When investing in partnerships, evaluating the potential ROI is key. Establish a clear understanding of the value the partnership will create for your business; in doing so, you will be able to make decisions with greater confidence. To evaluate the ROI of your partnership, consider factors such as cost savings, increased revenue, increased customer loyalty, brand visibility, and improved customer experience. With the right insights into your Investments and performance metrics, you can better understand the success existing and new collaborations will achieve.

6. Examples Of Brand Partnerships:

Lego x Stranger Things:

Lego revitalised its standing in the child and adult toy world by becoming one of the leaders in brand partnerships. A recent example is their collaboration with the television series Stranger Things. The cult favourite TV show has set imaginations ablaze, like Lego and with gaps between seasons being drawn out, the collaboration enables audiences the chance to create their own stories and further connect with the Stranger Things brand. Both entities are filled with imagination, have adoring audiences and are reminiscent of some childhoods if you were brought up in the 80s. It's an example of a smart partnership as both brands connect on key brand pillars without any fear of brand cannibalism.

Starbucks x Samsung:

Starbucks and Samsung partnered to create a unique and seamless customer experience. The collaboration between these two industry giants resulted in the integration of Samsung's technology into the Starbucks mobile app, allowing customers to conveniently order and pay for their products directly from their smartphones. This partnership not only expanded the range of services offered by Starbucks but also enhanced the overall efficiency and convenience for customers. By leveraging Samsung's cutting-edge technology, Starbucks was able to provide its customers with an improved digital experience, enabling them to skip long queues and save time.

The partnership was a win-win as Samsung was able to showcase its capabilities and solve customer pain points, which endeared them to customers and increased brand awareness. Starbucks were also able to solve customer pain points by eliminating order wait time for their busy takeaway customers, creating greater awareness of store locations and offerings. The alliance was a strong strategic fit that resulted in joint merchandise and increased brand awareness.

GoPro x Red Bull:

The collaboration between GoPro and Red Bull combined the strengths of both companies to create extraordinary content and experiences. As leaders in their respective fields, they were able to speak to the internal adrenaline junky and adventure seeker to strengthen the brand and experience awareness. GoPro's expertise lies in producing top-notch action cameras and accessories, and Red Bull is renowned for its sponsorship of extreme sports and for pushing the boundaries of human potential, so a brand partnership made in heaven.

Together, they developed a range of innovative projects, including the "Stratos" mission, where Felix Baumgartner jumped from the edge of space, and the "Line of the Year" series, which showcased jaw-dropping skiing and snowboarding feats. By working together, GoPro and Red Bull successfully captured the essence of both brands, filled with adventure, delivering thrilling content to audiences worldwide. The resulting content was instantly sharable, enabling greater brand awareness online through audience interaction.

ELF Cosmetics and Dunkin' Donuts:

The collaboration between ELF Cosmetics and Dunkin' Donuts brought together beauty and indulgence, a unique partnership aimed at offering customers a playful and innovative experience. ELF Cosmetics, known for its affordable and high-quality makeup products, partnered with Dunkin' Donuts, a beloved and iconic brand known for its delicious coffee and treats. The result was a limited-edition makeup collection inspired by Dunkin' Donuts' signature colours and flavours.

From eyeshadow palettes resembling doughnut frosting to lip glosses evoking the aroma of coffee, this collaboration brought a fun and whimsical twist to the beauty industry. Through this partnership, ELF Cosmetics and Dunkin' Donuts were able to make some noise and delight their customers with unexpected and exciting offerings. Both brands are known for their affordable indulgences, so they matched on price points, and the collaboration assisted both brands in gaining brand exposure and cementing brand personality through the quirky partnership.

Uber x Spotify:

A road trip and a playlist go hand in hand, so the partnership between Uber and Spotify was a match made in heaven. Through this collaboration, Uber riders were given the power to control their music during their trips; by linking their Spotify account to Uber, riders could easily play their favourite playlists, artists, or songs during their journeys. This integration allowed for a seamless and personalised experience, where users could enjoy their preferred music without the hassle of searching for songs or playlists.

The collaboration successfully enhanced the overall ride experience, creating a more enjoyable and personalised journey for Uber passengers. It also enabled Spotify to showcase its platform and the artists and shows featured, enabling brand exposure. With heavy competition in both sectors, this partnership created much-needed noise for both businesses; there was endless brand synergy and who doesn't like a great playlist to compliment a car trip, no matter the length.

Heinz x E.J. Marcus:

Tomato Sauce has often been the much-included guest star in Halloween and other spooky productions, so when Heinz decided to partner with comedian E.J. Marcus, there was always going to be camp fun at play. Heinz, renowned for its high-quality food products and strong brand reputation, joined forces with comedian E.J. Marcus, a TikTok comedian known for his tongue-in-cheek impressions, in a series of advertisements for a limited-edition tomato blood range to celebrate the upcoming Halloween season. The resulting creative launched heavily on TikTok and Instagram, was focused on gaining attention from Gen Z audiences. The campaign helped create brand awareness for Heinz and reiterated its brand personality.

7. What You Can Learn From These Brand Partnership Examples:

Not every business has the time or money to invest in such large-scale partnerships as the ones featured above, but valuable lessons can be learnt. Firstly, these collaborations highlight the power of leveraging shared values and target audiences. Each partnership was carefully curated to align with the respective brands' core values and cater to their key customers, leading to a more meaningful and impactful connection. SMEs can use this approach by identifying potential partners with similar principles and a customer base that complements their own.

Secondly, these partnerships showcase the power of innovation and pushing boundaries. By collaborating with different brands, businesses can explore new possibilities, create unique experiences, and tap into untapped markets. Lastly, these partnerships emphasise the significance of cross-promotion and mutual support. Combining resources allows both brands to reach a wider audience, increase brand awareness, and drive customer engagement. SMEs can adopt this strategy by seeking collaborative opportunities that offer complementary products or services, ultimately providing added value to their customers.

Back to blog home page

Jane Hayes Consulting, Leading You Through The Digital World:

Jane Hayes Consulting is an independent digital marketing agency founded to help businesses create consistent, creatively aligned, and strategic content. Jane Hayes Consulting can help you put your best foot forward with our expertly crafted team covering website design and building, marketing strategy, content creation, brand creation, and project management. We work within budget restraints and look toward the future. Need assistance in developing your digital strategy and creating a business advantage? Contact Jane Hayes Consulting today and sign up for our newsletter.