A new pal can boost your brand profile
The inclement weather – Christmas in March, anyone?! – is making a duvet day in front of a box set seem like the ideal choice right now. And what better time to do it? Today, Sky and Netflix announced a revolutionary new partnership that will bundle the two major TV services into a single subscription pack for consumers. This means we’ll soon be able to watch Sky Q content such as Game of Thrones and popular shows such as The Crown, House of Cards and Big Little Lies, all in one place. Yay!
And they’re not the only big names to have ‘found a friend’. Burberry recently announced that they are teaming up with online retailer Farfetch to make its products available to internet shoppers in 150 countries. It said the Farfetch partnership would expand its distribution as it targets “a young fashion-conscious consumer”.
Big name or not, one of the best ways to give your brand a boost is to partner with another person or company. Brand partnerships create a lot of noise, social media buzz, send more traffic to websites, create news coverage and enhancing product visibility. But to create an effective partnership, it’s vital that the brand or product is not only relevant but complements your own – as in the Sky and Netflix pairing. A successful partnership sees brands raising each other’s profile, not competing for the spotlight.
Feeling like you’d like to cosy up? Here’s four ways buddying up with the right brand can improve your PR:
It can enable you to take advantage of new opportunities and make a bigger impact
When you combine funds, or at come up with a budget you can use to market your new partnership and everything that comes from it, you can make a bigger impact and take advantage of opportunities you otherwise might not have been able to afford.
It can give you more exposure
Because a partnership provides you with an expanded target audience, it also means that you’ll be able to get more exposure – again, especially if your partner is in a different industry or niche. As in the Burberry-Farfetch partnering targeting younger customers, you’ll get on the radar of an entirely new group of people who were already interested in what your partner had to offer, and who value the fact that they wanted to work with you.
It can expand your target audience
When you choose to partner with another person or business, you have the opportunity to expand your target audience – especially if your partner is in a different industry or niche. Instead of targeting your customer base and those with similar interests, you get to expand your efforts and market to a whole new group of people who may not have even heard of you yet.
It can improve your public image
If you’re partnering with a brand that is already established, you’ll take on some of the reputation they already have. This can mean your new audience will feel trust and loyalty towards you more quickly; if the company or individual you’ve partnered with has a reputation for doing social good, that association can boost your public image. Giving back to the community and getting involved in social good is a great way to improve your image and fulfil your social responsibility.
Of course, consumers are quick to see through partnerships that exist purely for transactional gains rather than shared values. It’s therefore even more vital to consider a charity’s mission statement, ethical policies and find organisations with common interests and goals. This comes back to the importance of authenticity – something we’ve written about before. One organisation that has done this very successfully is Network Rail who partnered with the Samaritans with the aim of reducing the number of suicides on the railways. This has resulted in a reduction in railway deaths, increased awareness of the Samaritans and the issues around suicide and a reduction in costs for Network Rail.
The bottom line? Buddying up can really boost your brand and help take your business to the next level. Could your business benefit from collaborating with another brand or social media influencer? Why not get in touch? You never know, we might find you the perfect match.