From Laurel and Hardy to Batman and Robin, Lennon and McCartney to Wallace and Gromit; sometimes two heads are just better than one. We’ve grown up in an era where collaboration has made for some of the world’s greatest art - be that through comedy, film, music and TV.
If you transfer that knowledge into a retail environment, strategic brand partnerships can be a highly effective way to create stand out and achieve key business and sales goals for both parties involved. The power of co-branding allows you to combine the best elements that two brands have to offer and presents a unique opportunity to expand customer bases. There’s also the obvious cost-saving advantage.
The most successful cross-brand promotions must present clear synergies, be relevant and complementary. Brands that share the same potential audience or audience mindset can work really well together. Take Coca-Cola and O.P.I teaming up to create a line of nail lacquers inspired by a range of Coca-Cola’s most popular drinks (Diet Coke, Coke Zero, Sprite, Fanta etc). The overarching idea linked to both brands ‘delivering happiness in a bottle’. Both have a core teen target audience so working together gave them a fresh and exciting way
to engage with this demographic. A definite win win for both.
With any cross-brand promotional activity, the trick is to offer a unique experience to customers, something they wouldn’t ordinarily be accustomed to. In a retail environment, supporting the activity with large visual POS materials and in-store merchandising can be an eye-catching way to draw people in with compelling promotional offers.
Mondelez is a great example of a confectionery brand leading the charge in this area, most recently bringing together two of its most powerful brands – Cadbury Dairy Milk and Daim pieces – following the success of its Milka Oreo bars. Why did it work so well? Existing awareness of both individual brands enhanced the likelihood of trial and combining the two flavours offered consumers the chance to experience something new and exciting.