A recent Forbes article says, "Corporate co-branding is a marketing staple: Companies co-brand with one another (Apple + Nike; Betty Crocker + Hershey’s; Dell + Intel); for-profits co-brand with non-profits (Nestle + The Girl Scouts; Pampers + UNICEF; American Express, Apple, Converse, etc. + The Global Fund – RED); and all of the above co-brand with movies, music, and sports (Aston Martin + James Bond; PINK + NFL; Apple + U2)."
You don't have to be a popular musician or own a landmark company to tap into corporate branding. Co-branding is a branding partnership where two or more companies agree to market their businesses together for the mutual benefit of both.
This type of corporate branding works like this: Partnering businesses agree to associate themselves with the products or a product belonging to the partner's business. Co-branding is kind of like an endorsement exchange. Companies also agree to become associated with the partner's logos, colors, products and services. Some of these co-branding partnerships offer a limited exchange; that's when one of the partners decides to associate with just one or a few products or services, not the entire product catalog.
Follow these rules if you are considering co-branding your corporate brand.
You need defined brand goals. It's got to be beneficial to both groups! Be specific with your goals. Saying, "Together we're going to sell a lot," is nice but isn't specific enough. You need have a goal in mind, say, "I expect our partnership will double our sales.
Co-branding must mean a commitment to value one another and value a goal together. Thinking of hooking up with a local record label? Listen to them when they talk and share their ideas; you can expect the same. You want partnerships that focus on a mutual value. This kind of corporate branding can create a kinder, more value-focused label in the long run.
Get everything in writing and review the contract regularly. As you work together it may be difficult to do things new ways. That's where having a solid, limited contract comes in handy.
This type of corporate branding is the perfect option for creativity companies who have a specific target audience in mind.
Forsefield knows all about corporate branding and can offer you some suggestions on co-branding.Contact Forsefield today for more information.