Don't downplay the power of partnerships
Want to go after bigger audiences, but don’t have the dollars to do so? It’s time to buddy up. We believe in the phrase, the more the merrier… which is why we recommend partnerships with non-competitive, ancillary brands who share your target audience.
By partnering with companies who are targeting the same audience, you’ll be able to create a bigger brand presence and awareness for your product(s) and/or service(s). Whether it’s co-branding a product together like Nike does with Apple, consistently sharing content through online channels or even just sharing a space at a tradeshow, having a partner brand is a great way to mitigate marketing costs.
It’s also an effective method to reach new audiences that already know, like and trust your partner’s brand, and will therefore be more inclined to like yours.
Align with great non-profit partners
Partnerships between brands and nonprofits are also highly valuable for companies of all different stages. Whether you’re an emerging brand or one that’s already well established, letting your audience know that you’re involved in giving back to the community is something they’re bound to get behind. In fact, 89% of US consumers polled said they would switch brands, despite their previous loyalties, to ones that supported charitable causes.