Successful Co-Branding Partnerships (And Why They’re So Effective)
Co-branding is a strategic marketing and advertising partnership between two brands wherein the success of one brand brings success to its partner brand, too. Co-branding can be an effective way to build business, boost awareness, and break into new markets, and for a partnership to truly work, it has to be a win-win for all players in the game. Both audiences need to find value — like chocolate-loving fans of Betty Crocker and Hershey’s.
Everyone has loyalties to their favorite brands, but there’s a good chance your favorite products are the result of two separate brands working together.
One of my own beloved childhood memories was a product of co-branding: Betty Crocker partnered with Hershey’s to include chocolate syrup in its signature brownie recipe.
There’s something brilliant about that co-branded product: It’s a fun way to marry two classic brands into one delicious experience for fans of baking and chocolate alike. In fact, these brands still create new co-branded products to this day.