Include a discount for your partner company on your invoices, or offer free shipping when a customer places an order from both businesses. 4. Co-branding: Co-branding is a unique type of marketing partnership in which two brands combine their expertise to develop an even more attractive or valuable product.
The CEO of the first company meets with his legal team, and the legal team consults a number of middle managers in the proposed product area. Meanwhile, the CEO of the firstcompany sends an email to the CEO of the second company to offer a couple suggestions concerning the joint venture.
One example of a killer co-branding effort is the Doritos Locos Taco, the brainchild of Frito-Lay and Taco Bell. This insanely popular item set sales records at Taco Bell, selling over $1 billion of the product since its debut. 5. Run a contest together: This is one of the easiest and most fun collaborations you can do with other companies.
The prizes can come from both businesses, reducing each company’s cost while simultaneously making the contest more attractive. Collaborating can help companies make the most of their content marketing efforts. Joining forces can help brands widen their audience, cut marketing costs and produce more compelling content.