Each brand is unique, with its own philosophy and characteristics that make it attractive in the eyes of its target audience. At first it may seem that allying with other brands may be counterproductive and may detract from visibility, however, collaborations between brands are often the opposite, a golden opportunity to reach new audiences and achieve greater reach.
We are at a time when cobranding is the order of the day and many consumers are calling for it. What is co-branding? It is a collaboration between two brands for the creation of a product, a service or to carry out a campaign together.
Why go for cobranding?
There are a number of advantages to doing this type of collaboration, including access to new audiences. By doing this type of collaboration we are also reaching the consumers of the other brand, which translates into greater visibility and the possibility of accessing new demographic segments.
They also bring greater credibility – if our partner brand is known and respected, it can improve consumer perceptions of us.
In addition, cobrandings also tend to generate a high media impact, as they help to attract the attention of both the public and the media, which further amplifies the impact of the campaign.
If we think beyond advertising, this type of collaboration is also beneficial for our brand in terms of innovation. Combining resources and knowledge with those of another brand helps us to create products or services that would be impossible on our own.
What should I analyse before cobranding?
When it comes to cobranding, there are certain issues that must be taken into account before entering into an agreement with another brand.
- We must be very clear about our objective, what we want to achieve with this collaboration and how we would like our brand to be present.
- When we have chosen the brand with which we would like to collaborate, we must study it, make sure that we share a common or at least complementary philosophy and that allying with it will be free of controversy.
- Be clear about how far we can modify the original idea. Once we have established contact with the brand, it is time to start to flow and it is possible that some of our original ideas may be modified by new contributions that enrich the collaboration.
Types of cobranding
Although cobranding is understood as a collaboration between two or more brands, there are different types of partnerships:
- Complementary: Two brands offering similar products or services join forces to enhance the consumer experience or to improve an existing product.
- Joint innovation: In this case the brands collaborate to create something completely new, which manages to surprise the consumer of both brands.
- Mutual reinforcement: This is when a smaller brand and a larger brand team up, which helps to increase credibility and reach, especially for the smaller brand.
Examples of successful cobrandings
KFC & Fiesta
KFC is arguably one of the most innovative brands we find today. With a more transgressive communication, it is very keen to collaborate with other brands. This is the case of the recent cobranding carried out with the Fiesta candy brand. Its latest product is none other than the well-known Fresquito, a candy with pica-pica, but this time with the flavour of traditional battered chicken.
This novelty has spread like wildfire on social media and many consumers have come to their nearest KFC to try this innovation.
Lego & F1
The Formula 1 universe moves millions and that’s why Lego, the well-known brand of square blocks, wanted to join forces with them. In their joint campaign they have used the famous pieces to build the different cars for this season.
The Miami Grand Prix has been the chosen venue to present these constructions, but beyond being an exhibition, the main drivers have enjoyed, at a slower speed than usual, a lap in these particular single-seaters.
McDonald’s & Oreo
McDonald’s is another brand that carries out cobrandings on a regular basis. The hamburger chain, as well as collaborating with celebrities who create their own menu, as is the case with Aitana or Sebastián Yatra, has also embarked on the creation of innovative products such as the well-known Oreo McFlurry, the combination of cream ice cream and the well-known chocolate biscuit is one of the brand’s best-known creations.
Adidas & Toy Story
Fashion and accessory brands are also common when it comes to collaborations. We have recently seen Adidas team up with the animated film Toy Story, creating unique and limited trainers, which also produces a feeling of exclusivity that encourages impulse buying.
These are some examples of how brand collaborations are becoming more and more the order of the day, as well as a great opportunity to reach new audiences and generate more notoriety.