Why undertake a co-branding strategy
Posted: Tue Dec 17, 2024 5:41 am
products and services, thus creating co-branding strategies . Among the most recent examples in this sense, just think of Baci Perugina which, in partnership with Dolce and Gabbana, launched a limited edition version of its very famous chocolates.
Co-branding marketing: what is it?
As mentioned, co-branding marketing is a collaboration between two or more brands to market a common product or service . Generally, the companies involved are already known and clearly recognizable in the campaign, leaving their respective brand identities unchanged.
Co-branding initiatives are very useful to increase the reach of a single brand , increasing the number of people potentially involved, but also to improve the sentiment of the target audience you are addressing.
Nowadays, attracting the attention of the public is anything benefits of sms marketing but easy . Co-branding can be an interesting strategy to increase attention on yourself, reaching new audiences, thus taking advantage of the reach of your commercial partner.
Let's take the example of Perugina and Dolce & Gabbana mentioned above. Given that in this case we are talking about brands that need no further introduction, the launch of a product line in partnership has allowed both brands to reach new segments of the public, increasing sales by targeting a new mixed target.
Furthermore, a co-branding initiative can give rise to what we can define as co-marketing . In the case in which two companies create a new product together, promoting it in collaboration allows to reduce costs and investments. This concept certainly applies to large companies known on the national and international scene, but also to local activities.
Advantages and disadvantages of co-branding marketing
Like all things, activating a co-branding marketing strategy has pros and cons. Among the advantages we find:
risk sharing,
increased sales revenue,
improving the perception of both brands,
joint promotion, with cost sharing and broader scope,
increased royalty income,
improving product image.
Co-branding marketing: what is it?
As mentioned, co-branding marketing is a collaboration between two or more brands to market a common product or service . Generally, the companies involved are already known and clearly recognizable in the campaign, leaving their respective brand identities unchanged.
Co-branding initiatives are very useful to increase the reach of a single brand , increasing the number of people potentially involved, but also to improve the sentiment of the target audience you are addressing.
Nowadays, attracting the attention of the public is anything benefits of sms marketing but easy . Co-branding can be an interesting strategy to increase attention on yourself, reaching new audiences, thus taking advantage of the reach of your commercial partner.
Let's take the example of Perugina and Dolce & Gabbana mentioned above. Given that in this case we are talking about brands that need no further introduction, the launch of a product line in partnership has allowed both brands to reach new segments of the public, increasing sales by targeting a new mixed target.
Furthermore, a co-branding initiative can give rise to what we can define as co-marketing . In the case in which two companies create a new product together, promoting it in collaboration allows to reduce costs and investments. This concept certainly applies to large companies known on the national and international scene, but also to local activities.
Advantages and disadvantages of co-branding marketing
Like all things, activating a co-branding marketing strategy has pros and cons. Among the advantages we find:
risk sharing,
increased sales revenue,
improving the perception of both brands,
joint promotion, with cost sharing and broader scope,
increased royalty income,
improving product image.