A great way to build your brand is partnering with another.
What exactly is a brand partnership?
Put simply, it is when multiple brands join forces on a project that are designed to benefit all parties involved. Recently, brand partnerships have gained serious traction in marketing, with many companies utilising it in their overall marketing strategy.
What are the advantages of this?
It will give your company access to a whole new audience. Putting the correct content in front of both audiences, will both increase awareness and create growth in revenue for all brands involved. Your new partners will already have a loyal relationship with their followers, and by partnering with them, their followers will be more inclined to try what your company offers.
Another perk of partnering is that it is cost-effective. Partnering with another brand is typically less expensive than other forms of marketing. When starting up, it can be costly and timely to create a new following, and choosing the correct partner relationship will help to provide the products or services you offer to a new audience.
Partnering with established brands that are trusted and respected will help to enhance your own reputation and credibility. This will then enable your brand to grow and expand, as you will have a higher awareness in your respected market.
Let’s talk about an example of this that we have done at Crowdify.
One of our clients – TSE Power – has partnered up with numerous different brands over recent years, one of which is London Stadium.
This partnership started last year, with visitors seeing TSE Power branding in and around the stadium. Another partnership is with BTCC racing driver Dan Cammish. This has been a long-standing relationship, with TSE’s branding on his racing suit, car and helmet.
To summarise, collaborating with brands is incredibly valuable. It will help companies gain access to new audiences, it is more cost-effective, and it will increase brand awareness.