24 February 22
Businesses will always need new branding and marketing strategies to stand out in the market. Other than emphasising their unique selling propositions, some companies would even opt to join forces and create a buzz in the market. Co-branding (or brand alliance) happens as two or more brands collaborate and synergize the portrayal of their values into a new product or service. We believe working with a partner through co-branding is definitely a strategy you can use to ensure the success of your business!
Co-branding starts when brands wish to gain more visibility and popularity. Louis Vuitton became interested in collaborating with the streetwear brand Supreme after taking note of its prominence alongside the long line of young and enthusiastic customers. Supreme welcomed the opportunity to work alongside an established luxury brand and collaborated with Louis Vuitton to release a new collection that combines their design elements. Both brands succeeded in gaining more attention, with their collection being well received and coveted worldwide.
Innovative products or services are also born from the partnerships brought by co-branding. Walls collaborated with brands such as Oreo and Hershey’s to bring new products with unique eating experiences. The co-branded Walls products offer familiarity, tasty flavors, and something innovative in the ice cream market.
Lastly, co-branding helps brands interact more with their customers by being exciting and appealing to their curiosity. The snack brand Chitato collaborated with Indofood to launch Indomie-flavored chips, intriguing their loyal fans. Their out-of-the-box product became a trending topic in social media and achieved increased sales results.
As such, your brand can work with other businesses to gain more visibility, create innovations, and excite loyal customers. Collaborate with a brand that has similar goals and compatible values with your company to ensure a smooth co-branding process. To know more about co-branding, give Milestone a call, and let’s boost your brand’s journey towards success!