Brands with successful co-marketing strategy
By Abimbola Mohammed
When effectively executed, co-marketing strategy can be one of the best forms of marketing strategy for brands playing in different market segments by giving both brands the opportunity to expand their audiences while promoting each other’s products or services.
Some of the similarities between brands that co-market are either trying to reach the same audience or play in the same industry. By forming a mutually beneficial strategic partnership with a non-competitive business, both parties can reach new audiences and market more efficiently. These strategic partnerships can help brands access powerful leverage by reaching new audiences and delight existing customers, regardless of the size of the business.
There comes a time when many brands need to leverage their marketing strategies by doing something daring and exciting to capture the attention of untapped market segments. Here some of the brands have recorded success using co-marketing strategy.
Apple and Mastercard partnered with the objective of creating convenience for customers; with this strategy they were about to change the evolution of payments. Apple released Apple Pay, which changed how transactions are made, allowing people to buy things with their phone instead of a credit card. However, in order to accomplish this, they needed a credit card company on board to integrate with the technology. That’s where Mastercard stepped in. It also enabled the credit card brand to get ahead of the competition by being the first company to allow users to store their cards on Apple Pay.
Red Bull & GoPro partnered to gain publicity with a record-breaking stunt where they both sponsored a campaign that featured an Australian skydiving legend, Felix Baumgartner who jumped from a balloon 24 miles up in the atmosphere. All of this stunt was sponsored by Red Bull and captured by the GoPro helmet on his head. The marketing campaign broke records for both brands as well as the world.
Chicken republic & Glovo also partnered. To boost its deliveries and positively impact its business, Glovo collaborated with Chicken Republic, a Quick Service Restaurant (QSR) brand with over 300 stores in Nigeria. The strategic alliance has elevated Glovo as a key platform for Chicken Republic customers ordering online. The decision came from Chicken Republic’s desire to streamline its partnerships in the space and improve customer satisfaction.
Spotify and Uber are co-marketing to boost subscription and ride-hailing. Spotify teamed up with Uber to place their product with a free trial in the campaign “Soundtrack for Your Ride.” When riders are waiting, Spotify allows them to become a DJ for the ride. Users can create custom playlists that can be played on rides in the future. This prompted people to call Uber more often and boosted the number of subscribers for Spotify. The outcome of the initiative was that Spotify gained more users, Uber gained more rides.
Pepsi & Domino’s Pizza partnered in the “Comfam” campaign. Seven Bottling Company’s (SBC’s) partnership with Eat’N’Go Africa is one of the ways SBC is endearing customers to its chain of products under the “Confam” campaign. The partnership is a testament to the power of co-creation and co-marketing which make SBC’s chain of products like Pepsi, Mirinda, Seven Up, Aquafina water, and others available to customers across 175 Eat’N’Go Africa outlets in Nigeria. Eat’N’Go Africa is the franchisee for Domino’s Pizza, Pinkberry, and Cold Stone Ice Cream in Nigeria. Through their new partnership, SBC and Eat’N’Go Africa are offering Nigerian customers a wider range of quality products that meet their diverse needs and preferences.
P&G’s partnership with NBCF for a Cause. Procter & Gamble is well-known for its annual collaboration with nonprofits focused on breast cancer research. In October, P&G supported the National Breast Cancer Foundation by giving it hundreds of products.
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