Two is better than one, right? It’s a simple concept we pick up when we’re younger, and one that is applicable to most things in life—including business partnerships.
If you’ve tapped out your audience, what’s the best way to reach a new one? Start from scratch? Nobody has time for that. That’s why co-branding partnerships are so popular, and successful. They allow brands to expand their audience and clientele, simply by leveraging a partnership with another brand who is already succeeding in a different realm.
There are a lot of great co-branding partnerships out there, and I’ve listed out 5 of my favorite examples for you below.
1. Nike and Apple
People who like Nike like to run. People who like to run like to listen to music while they do it. And simple as that, the Apple/Nike alliance was formed. Nike and Apple developed a wireless system that transfers data about users' runs directly to their iPhone, thus allying two iconic brands and enhancing the user experience for the audiences of both.
2. Dawn and Olay
The Dawn and Olay partnership did a great job of identifying an issue—your hands drying out while doing dishes—and coming together to solve it. Neither could have done it as successfully on their own, so a partnership between the two was the perfect solution for everyone.
3. Doritos and Taco Bell
This is one of those times when you hear a partnership has been announced and you think to yourself, “why haven’t they been doing that all along!?” Doritos and Taco Bell have a very similar target audience, but serve that audience in two different ways. By combining their forces, they’ve created the one, super, co-branded product that has fast-food and Mexican-food enthusiasts around the world hailing it as the greatest invention since, well, tacos or chips. The first year the Doritos Locos Taco was announced, over 1 billion units were sold and Taco Bell had to hire an additional 15,000 workers to keep up with demand!
4. Versace and H&M
Versace and H&M serve two radically different segments of the same, fashion loving audience. Those who shop at H&M do so for the great looks and low prices. Versace’s customers are in it for the great looks, despite the high prices. When H&M partnered with couture designer Versace, both companies were able expand their clientele and reach whole new audiences.
5. Dr. Pepper and Bonnie Bell
This partnership is a throwback for all you '90s babies, who, if you were anything like me, loved two things in life: lip gloss and soda. This is a great example of a partnership where the two companies on their own served wildly different sets of clientele (I mean, the only thing lip gloss users and soda drinkers have in common are, well, lips), but by joining forces they created a whole new realm of possibilities. And no one wanted to get left out. Since joining with Dr. Pepper, Bonnie Bell (now Lip Smackers) has gone on to produce Fanta, Coke, Sprite, and Barq’s flavored glosses.
Now that you have some brand partnership inspiration, start brainstorming how you can build a brand partnership that benefits your company. Have questions about how to do this? Contact us today and we can help you find the perfect brand pairing for your business.