As a leading Digital Agency in Mumbai, Thane, and Navi-Mumbai, we know that the dynamically developing marketplace is throwing up newer challenges and opportunities every day on digital media planners, apart from the ever-increasing pressure and growing workloads. Digital co-branding is thus one way of easing this situation and through this article, we shall explore its advantages and the ways to execute it.
As one of the best Digital Agency in Mumbai, Thane, and Navi-Mumbai, like other marketers, we understand the co-branding concept quite clearly and it has proved its worth as a primary time-tested strategy. In this strategy, a common goal brings together two brands and marries their selling proposition by leveraging distinct characteristics of both these brands.
Digital co-branding takes on from this basic approach and builds on it. It aligns the brand content and messaging ideas of an advertiser with that of a digital publisher who is addressing a similar audience with identical content. It is this shared brief about the campaign objectives that form the foundation of the shared co-branding. Co-branding
needs the publishing partner to lose some part of the editorial control, while the advertiser needs to divert resources needed to activate content. This helps both to get a higher number of engaged users with a higher response rate.
Co-branding helps to utilize the positive qualities of either brand and is useful in creating a powerful image in the user’s mind.
The most common and world-wide example of Co-branding is Intel’s partnership with PC manufacturers, which helped Intel to command massive respect for many years to come. The Nike-Michael Jordan partnership is legendary too. Nike was able to create an extremely positive brand image for itself by utilizing Michael Jordan’s athletic capabilities and his frenzied fan following. As a top-notch Digital Agency in Mumbai, Thane, and Navi-Mumbai, we believe in combining advertising efforts and collaborating on digital marketing programs with brands that possess a common goal and ideal and take this path to success.
As a professional Digital Agency in Mumbai we explain our readers regarding the following Types of Co-Branding:
- Component Co-Branding: Two food brands that create a new product which combines their specialty ingredients, or multiple technology companies using each others’ components to create a single product.
- Specialist Co-Branding: A company with highly-specialized core competency seeks to partner with multiple businesses to highlight these products and services.
- Joint Venture Co-Branding: In this multiple companies come together for a larger shared goal, like creating a new technological standard that they co-own.
- Sponsorship Co-Branding: Two or more brands sponsor an event, such as a sporting event, for shared exposure and goodwill of each brand.
- Media Co-Branding: Movies, videos, and other consumer media are often co-produced between different labels, developers, publishers, studio houses, etc. with shared credit.
- National-to-Local Co-Branding: A small local company partners with a national-level company for exposure or services, such as local banks offering branded credit cards.
Benefits of Co-branding:
- It helps in creating new markets
- It helps you Capitalize on the unique strengths of your business
- It helps you broaden the scope of your organization
- It empowers you to stand out from your business competition
- It helps you boost your brand’s equity
According to any leading Digital Agency in Mumbai, Thane, and Navi-Mumbai, this should be a good start for many of the users who have started researching how one can start their website. We assure you to go into further depth in our future blogs such as The Difference Between Web Development and Web Designing or The Importance of Using Split Screen Designs for Websites to learn about more exciting topics.