As a business owner, you are competing with other businesses in your market for the attention of your customer base. What if you took a different approach: choose to build brand partnerships instead of competing with each other?
Step down the competition race and learn how brand partnerships move your business forward.
In this article:
- Three examples of brand partnership: Virgin Atlantic x Aviation Gin, YouTube x Waze, Coca Cola x Disney
- 5 factors for a successful brand partnership
- 9 benefits of brand partnerships
Brand Partnerships: Virgin Atlantic x Aviation Gin, YouTube x Waze, Coca Cola x Disney
Virgin Atlantic x Aviation Gin
In September of 2018, Virgin Atlantic announced a partnership with Aviation American Gin owned by actor and producer, Ryan Reynolds.
The famous UK airline founded by Sir Richard Bronson would serve the award-winning gin to their Upper Class passengers and Club Gold members.
Here’s what Sir Richard Branson said on this partnership:
Working with Ryan and his team on this partnership has been so exciting. Aviation Gin is a true icon born out of a spirit of innovation, so serving it on board Virgin Atlantic flights seemed like a natural combination.
YouTube x Waze
In August this year, YouTube announced its partnership with Waze.
YouTube Premium and Music Premium subscribers can safely listen to their favourite music from directly within the Waze app, where they get their directions. It’s a natural match: listening to your favourite music makes driving more enjoyable.
With YouTube Music and Waze together in one experience, there has never been a more entertaining way to get around.
Coca Cola x Disney
Earlier this year, Disney approached Coca Cola with a novel idea for a partnership: creating custom bottles of Coca Cola for Star Wars: Galaxy’s Edge, a new experience playing at the Disneyland Park.
The Star Wars-inspired Coca Cola bottles have a rounded look and brand name printed on rusted labels in Aurebesh, the written language featured in the film franchise.
When we first approached Coca-Cola and shared the idea of bringing their products into the Star Wars galaxy in a new and unique way, they immediately saw the opportunity to give our guests the refreshing drinks they love in a way that maintained the authenticity of the story – which is very important to us – and that was, frankly, just plain cool.
Scott Trowbridge, portfolio creative executive and studio leader, Walt Disney Imagineering
5 factors for a successful brand partnership
Two heads are better than one, goes the popular saying. But one needs to be careful which heads – a.k.a brands – are a perfect match for each other.
Here are 5 factors you should take into account for a successful brand partnership:
- The two brands are complementary, but not competitive;
- They have similar values and target audiences;
- A shared objective and goal;
- Involve the right people from both companies;
- Bring on board senior executives and even the CEOs from both companies.
9 benefits of brand partnerships
Brand partnerships are successful when both companies start with a win-win mindset.
Here are 9 benefits of brand partnerships:
- Sharing customer bases;
- Break into new markets;
- Expanding your customer base;
- Lead-generating opportunities;
- Brand strengths are amplified through collaboration;
- A great experience for the customers;
- Enhanced brand awareness and exposure.
Do you plan to build partnerships with other companies?
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