Co-Branding is the marketing or promotion of a service by two brands that share a target demographic.
A great example of co-branding is Capital One offering you airline miles on United Airlines. A smaller scale version of that is your local Ford Dealer giving you a gift card to your favorite Mexican restaurant when you test drive a vehicle.
What are the major benefits of co-branding?
- Larger combined marketing budget – Combining your marketing dollars allows you to cast a wider net.
- Wider reach – Both brands gain access to each other’s loyal audience.
- Credibility – Partnering with an established and respected business raises your business to the same stature.
The easiest way to start co-branding is to look for a business that targets the same demographic you do. The best-case scenario is a brand that compliments your products & services.
Can’t quite figure out what co-branding looks like for you? Contact Us for a free brainstorming session and you’ll be surprised how close co-branding opportunities have been all along.