Co-branding Means Endless Possibilities
The Digital Era is where storytelling becomes reality, and the fantasy that we create in the story becomes so desirable that it will make you buy it if you have the power. Sometimes having a Good Idea or a good product is not enough. Like the old, Wiseman said; if you want to go fast go alone if you want to reach farther go together. It applies to every aspect of life and business. At this time, we are going to talk about how going together takes you farther. Few people have heard of Co-Branding, others have seen short-catching stories with two or more products. When you are watching you are not only looking at these products, you wish and desire to have the lifestyle and influence that these things can give you.
Let us stop for a moment and land our imagination and take it to the analytical part. “The point of going together is for combining the market strength, brand awareness, positive associations, and cachet of two or more brands to compel consumers to pay a great premium for them.” According to Investopedia. To understand how this catchy full of imagination Ideas you have to get deep into a strategy, either for seeking to increase customer base, profitability, market share, customer loyalty, brand image, perceived, value, and cost-saving.
Therefore, we introduce you four different strategies:
- Market penetration strategy: A conservative strategy that seeks to preserve the existing market share and brand names of two partnered or merged firms.
- Global brand strategy: Seeks to serve all customers with a single, existing global co-brand.
- Brand reinforcement strategy: Exemplified by the use of a new brand name.
- Brand extension strategy: The creation of a new co-branded name to be used only in a new market.
Co-Branding: The GoPro and Red Bull Case Study.
The human imagination has no limits and for some of us, the sky is the limit. For GoPro and Red Bull the limitations imposed by the simple Illuminati were not enough to stop them and send a man beyond the stratosphere over New Mexico, in the US. Felix Baumgartner in October of 2012 flew approximately 39 kilometers (24 mi) from a Capsule in the middle of outer space. He reached 1,356 km/h (843.6 mph) jumping from an altitude of 28,969 m. Baumgartner broke two other world records.
How Co-branding made this energy, Drink brand together with the sports brand successfully held one of the most impressive stunts and succeed?
Both of these brands were brave enough to aim high and bring this event with a tight budget.
They were dedicated to their idea: always demonstrating a commitment to their goals. Showing determination and dedication to the idea.
Creating a captivating story, at the same time dramatic and dangerous.
They brought an idea which not only had aimed to bring brand awareness, they were also focused on providing data for further scientific goals such as provide data to advance in space travel in the future.
At that time, they tried successfully to use live streaming on YouTube. They did a groundbreaking for what it would be a successful game-changer strategy.
What was the result of tho Co-Branding Campaign?
Sponsoring Felix Baumgartner’s record-breaking jump provided Red Bull with massive global exposure as well as public approval. Red Bull achieved thousands of followers and fans on various social media networks. There were over three million tweets and it was the most talked-about topic for days. This buzz created amazing engagement opportunities for the brand.
The campaign not only spread throughout social media but also received remarkable mainstream media coverage internationally, making the front pages of numerous leading publications. It generated loads of publicity, not only because it was an extreme challenge, but also because they were willing to invest in improving society. Like Jonas Feliciana, a beverage industry analyst at Euro monitor International, said, “This is taking it to a whole new level. It has turned a PR event into a news event.”
Same results without jumping out the outer space.
There is an effective way to make your Co-Branding campaign be as successful as Red Bull and GoPro.
With a growing team of 75 marketers with a passion for China and digital marketing. We are constantly looking for new ideas to acquire the best output of our strategies and campaigns. With 7 years of experience in the market satisfying customer who regularly comes back for following up with outstanding results.
How do we do this?
Few simple steps such as:
- Auditing your project, canalizing your competitors, bringing out your target audience. Clarifying what their demands are and using your currents assets for bringing the best Idea out
- Finding good channels to get more exposure. GoPro and Red bull Used Live-Streaming on YouTube. With our team, we can find the best social media to increase your brand exposure for this project.
- Branding, branding, and more branding.
- You either have a website or want to enter it on the Chinese market. We design or relaunch it.
- Baidu SEO, Baidu SEM, Chinese media Buying, PR, Forum. Promoting your brand everywhere and becoming the leader in your industry.
- E-commerce oriented to your industry. With China, having a boom in electronic sales we have to choose the site that best fits your budget and your business plan to increase the reliability of your project.
- Having so many social Media on the run we have to go accordingly to your brand’s target to have the best result of our integrated effort to increase your interaction, engagement, and relationship with customers.
Joining forces with us, we will find the best strategy and adapt all the steps to have the best performance in our Co-branding Campaign