|8 Examples of Successful Co-Branding Partnerships (And Why They're So Great)
Anyone remember Dr. Pepper-flavored lip gloss from Lip Smackers?
I'd venture a guess that many of you do, whether it was a staple of your own childhood or that of a loved one's.
There's something brilliant and memorable about that co-branded product: It's fun, unexpected, and involves a classic and timeless brand that's helped the flavor remain popular all the way from 1975 to present day. (Seriously, you can still buy them.)
Strategic partnerships like that one can be a highly effective way to build a business, boost brand awareness, and break into new markets. The whole point is that the success of one brand will bring success to its partner brand, too. But for a partnership to truly work, it has to be a win-win for all players in the game. The value perceptions, target audiences, prices, and promotion channels need to match.
So, what do great co-branding partnerships look like?
There are a lot of great examples out there -- too many to list in one post. Below, we've curated a shortlist of eight examples of great co-branding partnerships to inspire you. Check them out, and add your own favorites in the comments.
8 Examples of Great Co-Branding Partnerships
1) GoPro & Red Bull: "Stratos"
GoPro doesn't just sell portable cameras, and Red Bull doesn't just sell energy drinks. Instead, both have established themselves as lifestyle brands -- in particular, a lifestyle that's action-packed, adventurous, fearless, and usually pretty extreme. These shared values make them a perfect pairing for co-branding campaigns, especially those surrounding action sports.
To make the partnership work, GoPro equips athletes and adventurers from around the world with the tools and funding to capture things like races, stunts, and action sport events on video -- from the athlete's perspective. At the same time, Red Bull uses its experience and reputation to run and sponsor these events.
"GoPro camera technology is allowing us to compliment the programming by delivering new athlete perspectives that have never been seen before," said Sean Eggert, Red Bull's director of sports marketing. The collaboration allows exclusive GoPro content to enhance both companies' growth.
While GoPro and Red Bull have collaborated on many events and projects together, perhaps the biggest collaboration stunt they've done was "Stratos," in which Felix Baumgartner jumped from a space pod more than 24 miles above Earth's surface with a GoPro strapped to his person. Not only did Baumgartner set three world records that day, but he also embodied the value of reimagining human potential that define both GoPro and Red Bull.
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This article was published on Hubspot. A link to the original article can be found after the post.