By Brandi Johnson, CEO Qples
Published Tuesday, May 3, 2016
The concept of co-branded campaigns can help companies meet many marketing objectives. First, the exchange of information between partnering companies is an efficient way to introduce each other’s products or services and grow awareness quickly. Partners are also a great way for brands to mitigate costs for a particular promotion or campaign. And thirdly, a lesser known brand can draw from the affinity of a partner to create immediate brand loyalty from the start. One of my favorite brand manager clients called this the “standing next to the pretty girl” method. She would stand her smaller brand next to the pretty girl (bigger brand) to get noticed and it worked!
Co-branded offers are a fantastic way for brands to expand their reach and fan bases. Many times potential partnerships are obvious based on complementary product usage or consumer types. Sometimes however it is more difficult to determine the right partner to increase brand awareness, sales or social fan bases.
We have seen many of our brand clients use coupon data to determine the "real" ROI of brand partners. In the Qples dashboard, brands can see how many consumer engagements originated from the various media where the coupon was available. Brands can see how many prints or engagements came from their website or Facebook page versus their partner's. Once marketers test multiple campaigns that include a variety of partners, the real time data captured will reveal which drove the most traffic.
Just because they drive traffic, does that make them the right match?
When you think about which partners to "stand next to," here area few critical points to remember to make those efforts a success.
Partners can be a strong way to leverage your brand and fan base. When negotiating a partnership remember the value that you have in your newsletter database, social fan numbers, distribution and on-pack opportunities. Don't sell your brand short when it comes to leveraging those assets to root out the best partner.