Building co-branded partnerships has many advantages, including lower marketing costs, larger audiences, and the ability to quickly build relationships with new leads. That’s why forming relationships and being a great partner are vital.
Brand partnerships, also known as co-branding, combine your audience and marketing power with another brand’s. Look no further than successful co-branding partnerships like Spotify and Starbucks, Taco Bell and Doritos, and Nike and Apple.
To make your co-branding campaign a success, you’ll need to be the best partner you can be.
1. Make realistic timetables
Brand partnerships take time to develop. There are many moving parts to both the individual brand and the co-branding strategy. Plan your tasks realistically and work with the other brand’s marketing team to create a schedule that works for everyone.
Let your partner know if you won’t be able to meet a deadline. Save them the worry of whether or not you will deliver what you promised by simply informing them when you have competing obligations. This will allow you both to plan ahead and change things before it’s too late.
2. Be Honest and Open
Most brands don’t like sharing their ideas, plans, or processes, but co-branding is the perfect opportunity to do so. Because you and your partner share goals, you should be transparent about your objectives and metrics.
3. Keep Your Word
Trust is the foundation of all successful relationships, so do what you say you will do. This includes any work you do, such as content creation and promotion. Bring your A-game and never leave your partner wondering if you’ll show up.
4. Follow Up As Needed
Ask your partner for help if you need it. If you have questions or comments, send them via email rather than relying on assumptions. Assuring that you get what you asked for is a good partner practice that will help everyone stay on schedule.
But before you hit send, go back through your correspondence to see if you missed an update. Keeping track of things can help here. Check your previous emails to see how certain items are progressing. If you can’t find it, ask for an update.
When you walk into a meeting with your partner, you should be prepared. It saves time and shows you’re as committed as your partner to putting together a great campaign.
Prepare a timeline with each deliverable and keep it handy for meetings and follow-ups. This will help keep everyone on task and on time.
6. Break Bad News Quickly
Incorrect link in webinar invite? Not getting the expected conversion rates? If you have bad news to share, do so as soon as possible. It can be embarrassing to admit a campaign strategy mistake, but the sooner you admit it, the sooner you can work together to find a solution.
7. Be Easy to Find
You don’t have to give your partner your home phone number, but you should be available during business hours. Having two teams on a project doubles productivity but adds to the role and approval chain. If your partner can’t reach you, deadlines may need to be rescheduled (which can have a negative impact on your campaign).
8. Always Add Value
When you sign up for co-branding, you’re selling your marketing skills. And as a salesperson, you must demonstrate value to the other brand. No one should question whether or not you are doing hard work with a positive attitude. Be proud of what you’re adding to the equation, and the rest will fall into place.
But don’t get complacent. Consider areas where you can add value or offer a little extra. Your partner will thank you and remember it.
Be the brand partner you want to see. All of the above advice will make you a better partner, and thus a better campaign. And only work with brands who do the same.