How to Build a Strong Co-Branding Relationship

In public relations we often discuss the importance of partnerships, and for good reason. Co-branding is among the most effective, yet often overlooked, ways to build a business, boost awareness and introduce brands to new audiences. When done correctly, these cross-pollinations can surprise and delight customers and attract new fans. 

That said, for a partnership to work, both parties must be excited and invested, and the concept must be a winner for every player in the game. But reaching that ideal can be easier said than done.

In my experience, I’ve found the following guidelines essential when seeking to engage in a partnership with another brand, nonprofit or individual. These principles will help keep you on the right track to sustain a mutually beneficial co-branding relationship.

Establish mutual expectations.

When brands collaborate, their objectives don’t always align. But clearly defining a shared vision helps mediate those differences. Guided by those principles, the partnership will enhance your businesses and generate additional value for your customers.

To define that shared vision, the parties can ask each other: What are we looking to achieve in this brand partnership? By outlining mutual expectations and parameters, both parties can work together comfortably and without confusion.

Oftentimes, partnerships give businesses access to wider audiences. As communicators, we can reach those new customers with our messages. But we first have to understand their values and why they would respond to our call to action.

Have a backup plan.

Even when both sides of the partnership are confident in their shared vision, however, Murphy’s Law — the adage that anything that can go wrong, will go wrong — stands ready to derail those plans. At my firm, we recommend having a plan B, especially when employees, third-party vendors or other outside parties involved might prove unreliable (or just have bad luck).

Establishing a backup plan might require you to have an uncomfortable conversation with your co-branding partners. But it will help everyone involved avoid last-minute scrambles when things don’t go as originally planned.

Promote.

Leveraging your owned communications channels and creating co-branded content are easy, affordable ways to spread the word about new partnerships. Whether the partnership is local or national, localized stories will help both organizations connect with their own communities. And when both companies share their partnership content on social media, they boost awareness to new audiences.

Communicate.

Trust and communication between the parties are tenets of any successful partnership. Whether the partnership is a single event or a long-term initiative, communication between the brands involved should always be clear and cordial.

If a problem arises, both parties need to be responsive. That means never leaving a partner uninformed about shared problems that could tarnish the brand’s reputation.

Following these guidelines will help you enjoy a healthy, long-lasting relationship with your brand partners. And who knows, you might even make some friends along the way