• Skip to primary navigation
  • Skip to main content
  • Skip to footer
  • Home
  • Advertise With Us
  • Contact
  • Cookie Policy
    • Privacy statement (CA)
    • Cookie policy (CA)
    • Privacy statement (UK)
    • Cookie policy (UK)
    • Privacy statement (US)
    • Cookie Policy (US)
    • Privacy statement (EU)
    • Cookie policy (EU)
    • Disclaimer

TechWalls

Technology News | Gadget Reviews | Tutorials

  • Reviews
  • Tech News
  • Tech Guide
  • Gadget & Apps

Why Your Business Should Consider Partnering With Another Brand

Updated on Aug 6, 2020 by Guest Authors

Getting involved in a brand partnership is a solid way to help build brand awareness and increase your bottom line. Some of the most successful brand partnerships have been able to come together with a common goal and reach target markets that benefit everyone involved. Typically, the two businesses in question are complementary to one another; rather than compete for the same audience, they understand their businesses serve a different purpose with a shared audience.

For example, Pottery Barn partnered with Sherwin-Williams to put together an exclusive line of custom paints. A furniture company doesn’t compete with a paint company, but both target homeowners. The partnership called for a neat website feature that showed potential customers how Pottery Barn furniture could be paired with the new line of custom paints for a great final look.

Similarly, you can partner with another brand to achieve your business goals. Here’s what you need to know: 

Build Brand Value

Working with another company helps boost your brand value. For starters, you’re putting your own branding next to branding that other potential customers might be more familiar with. This offers a higher level of credibility. Let’s say you own a bakery and have partnered with a nice local coffee shop. Visitors are of that coffee shop are more likely to trust your baked goods because they trust they coffee shop they’re familiar with. 

Moving forward, they might place an order online, your recognized your branded baked goods in other retail locations. Essentially, when two reputable brands work together, it shows consumers that the brand can be trusted. It also offers intrinsic value to the services and products that both companies offer natively. Both companies bring something to the table, and the combined perceived value makes their image even more powerful. 

Double Your Marketing Budget

Marketing plays a huge role in any business, and is just as important for a partnership. When you work with another brand to create a marketing campaign, you double the budget and power. Not only are you able to reap the benefits of their brand reach (and vice versa), but you also do so while sharing the costs. 

Everything from sponsored Facebook ads to email campaigns and direct mail are divvied equally in terms of tasks and finances. Be sure to use a brand asset management software solutions to help you manage assets across your projects. This way, all your digital assets are easily organized, accessed, and distributed accordingly. 

New Segments & Markets

Although your potential partner will share a crossover market with you, you’ll also be able to tap into new markets and segments that you haven’t been able to before. For instance, when high-end furniture retailer West Elm partnered with Casper, a mattress company, they presented a showroom with curated interior designs and used Casper mattress for the beds. Customers could come in and explore each look, laying on the bed to see how it felt. This approach appealed to several senses, and allowed both companies to benefit from market segments they hadn’t been targeting previously. With a partner, you can capitalize on those unexplored areas. 

Stronger Brainstorming Sessions

When you’re running a business, it’s natural to feel as though your ideas have run a little dry. After working to grow a project for so long, thinking outside the box becomes a much more futile task. And as the business grows, you might find yourself focusing more on operations and less on the creative side of marketing and expansion. 

When you work with a partner, you’re encouraged to sit down and set your day-to-day responsibilities aside for a moment. As a team, both companies benefit from brainstorming new ideas to reach target markets. These sessions can be not only effective, but inspiring as well. With an extra push, you’ll be happy to have the wheels of innovation in motion, and are more likely to think about the future of your business independently as well. 

Disclosure: As an Amazon Associate, I earn from qualifying purchases. The commission help keep the rest of my content free, so thank you!

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Footer

Hohem iSteady Mobile Plus Gimbal Stabilizer Review – Upgrade Your Phone Videography On A Budget

Airdog X5 Air Purifier Review – Is TPA Better Than HEPA Filter?

Welock Touch43 Fingerprint Smart Lock Review

HeyChy Deep Tissue Massage Gun Review

Follow TechWalls

YoutubeFacebookTwitterInstagram

Recent Posts

  • Secure Your Home With SECURAM
  • C3STROM ASTRO PRO – An E-Bike with Classic Rebel Motorcycle and Modern Ride
  • Bluetti AC500 & B300S Hit Canada Market During 2023 New Year Sale
  • Hohem iSteady Mobile Plus Gimbal Stabilizer Review – Upgrade Your Phone Videography On A Budget

Copyright © 2023 · All Rights Reserved

Manage Cookie Consent
We use technologies like cookies to store and/or access device information. We do this to improve browsing experience and to show personalized ads. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional cookies Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}