What is complementary branding?
Complementary branding partnerships are created when two brands work together to sell their products. They encourage co-consumption and co-purchases.
What are some complementary branding partnerships that I may already know about?
Here are just a few complementary branding partnerships that you may see regularly.
- Starbucks coffee is no longer available just in their stores. They sell their products at 7-11 and many other stores. More smaller brands are doing the same. You can now buy Dunkin Donut coffee in grocery stores all over. Some restaurants partner with different businesses and serve only their products.
- Betty Crocker advertises that it uses Hershey’s chocolates in their brownies. You learn this as soon as you look at the boxes.
- Nike and Apple worked together to design something to help athletes. Apple made a chip that fits right into your shoes. This chip then transfers the data about your workout directly to your phone.
What are some reasons to look for a complementary branding partnership?
There are many reasons why you should build a partnership for your brand. These include:
Reconnect with your customers.
If you have lost your loyal customers, you may want to reconnect with another brand that they love, just to get them back. They will rediscover your business and see you in a whole new light.
Grow your business.
Together, companies can work together to reach even more people. Many businesses seem to complement each other. Groomers and veterinarians can work together to share customers without stepping on toes. Some food companies work with other food companies to get their flavor into more mouths! Jelly Belly and Cold Stone Creamery have worked together to get a new flavor of ice cream and jelly beans!
How can I build a successful partnership?
When you’re approaching complementary branding partnerships, it is important that you are in the right frame of mind. Think about it as a way to achieve a common goal. You may want to think about it in terms of sports, where you are trying to win a proverbial championship for your operators. Therefore, you should aim to see it as a team sport.
To win, you need to focus on two key elements. These include:
- Brand name recognition
- Brand quality and distinctiveness
Why do complementary branding partnerships fail?
Unfortunately, many complementary branding partnerships fail. Here are some of the common reasons why they might.
- Either business (or both) have unrealistic or unclear expectations.
- There are too many cultural differences to see eye-to-eye.
- There are power struggles between the two companies.
- One or both businesses lack brand integration and methodology for the integration.
- One or both are unwilling to commit time and resources to the project.
- The relationship breaks down, and trust is lost.
- There are many external forces that can make a partnership fail.
- Changing priorities can throw a wrench in the whole process.
- The marketing results aren’t being watched to make the necessary changes.
- Nobody is held accountable.
How do complementary branding partnerships succeed?
Although there are complementary branding partnerships that fall apart, many work better than you might ever imagine. Here are some reasons why they succeed.
- Both businesses are prepared to work together.
- They both have a mutual need and are ready for the opportunities that are available.
- Everyone has realistic goals.
- The partnership is well thought out and planned.
- Everyone has committed to the project.
- Everyone uses effective communication.
- Both companies have shared values and compatible cultures.
- Everyone is willing to measure the performance and make changes to continue to grow together.
- Everyone is focused on the operation.
What are some guidelines to make your partnership work?
- You always need to work on building and sustaining your partnership. You aren’t going to just start a partnership and expect it to work out, you need to put in the work.
- Be consistent if you want your brand to succeed and thrive.
- Treat each other with respect.
- If the partnership isn’t working and helping each of you out, it might be time to dissolve the partnership and walk away.
Are you ready to succeed with complementary branding?
I’d love to speak with you about your concerns and answer any additional questions. Feel free to give me a call or simply head over to the Contact page and send a message. Let’s discover how complementary branding can work for you. Until then, check out our Ultimate Guide to Complementary Branding to learn more.