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4 Steps To Choosing The Right Brand To Work With

Steps to choosing the right brand to work with.

Choosing the right brand partner is critical, whether it’s for co-branding, cross-promotions, brand alliances or even strategic joint ventures.

Brand partnerships can do wonders for your business, but if you don’t choose your brand partner carefully, the partnerships may not show results, or in rare circumstances, may even cause harm to your brand.

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1. Alignment With Goals
It’s important that you define your goals before identifying prospective brand partners.

Some common goals include:

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  • Extending your marketing reach by acquiring new customers or new markets
  • Added value for existing customers
  • New revenue streams (e.g. co-branded products)
  • Building customer engagement and loyalty
  • Reiterate your brand positioning and increase brand equity

Defining your goals are integral to being able to identify the right brand partners.


2. Customer Alignment

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An important consideration in choosing your brand partner is customer alignment. Do you and your brand partner share similar customer segments? If you’re catering to an entirely different customer segment, your brand partnership may not be effective.Probably, the most common brand partnerships are between airlines and hotels. The customer segment is exactly the same and it makes perfect sense because they’re complimentary services. Your brands don’t necessarily need to be complimentary, but at least they should share an overlapping customer segment.


3. Brand Positioning & Brand Identity

What’s also important is brand positioning and brand identity. Does your partner brand enjoy a similar brand positioning as yours? A great example is the partnership between BMW and Montblanc Both the brands are positioned as luxury brands and so, they jointly launched the “Montblanc for BMW” collection of on-the-road and in-office products.


4. Shared Values & Ethics

Vanessa Waithera
Vanessa Waitherahttps://techmoran.com
Vanessa Waithera is a young writer from Daystar University. She has been a writer for 7 years and enjoys it as a hobby and passion. During her free time she enjoys nature walks, discoveries ,reading and takes pleasure in new challenges and experiences. Contact: [email protected]

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