A Guide to Brand Partnerships: Why Is It Important?

Getting eyes on your brand can be tough, especially if you’re far from being a household name. People don’t know about you, so they don’t care. If they don’t care, they may not want to buy your products.

Fortunately, there’s a solution for that: partnering up with another brand. A rub from a bigger, more well-known brand has the potential to bring you a whole new pool of leads, add value to your existing audience, and boost your business growth. But it’s not always as simple as a handshake and a high-five. There are pitfalls, controversies, and a fair share of debates surrounding the do’s and don’ts of brand collaborations.

That’s exactly what we’re about to learn here: brand partnerships. We’ll go into what they are, why they matter, the challenges you might encounter, and the specific steps you can follow to secure your very first partnership.

Here’s a quick look at what we’ll learn today:

• What brand partnerships are
• Examples of successful brand partnerships
• Why brand partnerships are important
• Benefits and challenges of these partnerships
• Brand partnership types
• Securing your first brand partnership
• Do’s and don’ts of brand partnerships

Let’s start small and go over what brand partnerships are before we move on.

What Are Brand Partnerships?

Simply put, brand partnerships are collaborations where two (or more) brands join forces to create a unique product, service, or marketing campaign that highlights their combined strengths. These partnerships often come in all shapes and sizes, from digital marketing campaigns and limited-edition releases to product bundle deals and in-store events.

A brand partnership allows companies to share audiences and resources in a mutually beneficial way. Imagine being able to tap into a whole new customer base overnight, all because you joined forces with a complementary brand. It sounds like a dream come true, but only if done right.

Not all brand partnerships are created equal, though. Some people say you should only seek partnerships with brands of equal or greater size. Others believe that you can get more out of partnering with smaller, scrappier teams who bring fresh ideas. I think there’s merit to both approaches. The success of a partnership has more to do with shared values and synergy than it does with one partner simply having more clout or revenue.

Examples of Great Brand Partnerships

What kind of brand partnerships work? That’s a simple question with a not-so-simple answer. Sometimes, brand partnerships that should make sense don’t work, and partnerships that seem random work super well. What matters is how the audience receives it.

So, here are some examples of brand partnerships that really, really worked and captured the audience’s attention.

James Bond and Land Rover

James Bond and cool cars, name a better pairing. While Bond is well-known to be an Aston Martin man, that doesn’t mean other cars can’t get on the Bond train, especially considering a car cameo in one of his movies can increase its value by 1,000%.

One of the most memorable brand placements comes from the relationship between the Bond franchise and Land Rover. In the 2021 film No Time to Die, bad guys riding Land Rover Defenders were featured doing wild stunts to show off their off-road and high-speed abilities.

This partnership is a win-win scenario where Land Rover boosts its car’s image as a tough, capable vehicle while the film benefits from the real-life horsepower of a car manufacturer able to make cars that can take all those stunts.

Louis Vuitton and Supreme

Here’s a pair of brands that, at first glance, might seem like they’re from different universes: the pinnacle of luxury, Louis Vuitton, and the streetwear giant Supreme. This unlikely partnership created an absolute buzz in the fashion world. It was the hypebeast’s dream collaboration: the suave world of LV meeting the edgy, skateboard-inspired culture of Supreme.

Even if it didn’t sound like a match at the stars, the outcome says differently. It was a big success because Louis Vuitton reported a 23% profit increase in part due to this collaboration. It made such a big impact that the company called this collab a “highlight” in the first half of 2017 when it launched.

Critics questioned whether this was a tacky attempt to cash in on the streetwear trend or a genius move that expanded each brand’s cultural relevance. But it worked! Both brands managed to cross into each other’s spaces and become more visible than ever.

Doritos and Taco Bell

Perhaps one of the most famous fast-food brand collaborations to date is the iconic Doritos Locos Tacos. Taco Bell took Doritos, an already beloved snack, and used it to craft its taco shells. The result was a fusion that had folks lining up for that delicious crunch of Doritos combined with classic Taco Bell fillings. This marriage turned out to be one of the biggest brand collaborations ever: it sold one billion units in just under three years, making it the fastest-ever consumer product to break one billion sales.

This partnership worked so well because each brand stayed true to its identity: Doritos offered its flavorful, addictive chips, while Taco Bell used its star menu items as the canvas. When fused together, they created a product that was familiar enough not to alienate loyal fans of either brand yet new enough to drum up excitement. And let’s be honest: who wouldn’t want to try a taco wrapped in Doritos?

Why Brand Partnerships Are Important for Entrepreneurs

Getting your brand out there is like busking in the middle of a music festival. You’ve got established brands left and right, not to mention major household names plastered everywhere for the world to see. With all the noise around, it might feel impossible for your brand to be noticed. To get noticed, you need a unique selling proposition (USP) and ways to stand out among the competition.

A brand partnership can help shortcut some of that initial struggle by giving you:

• Visibility: If you partner with a recognized brand, you automatically inherit some of their spotlight. This can send new leads your way and grow your audience faster than if you were working alone.
• Credibility: Gaining people’s trust is challenging. If a partner brand that people already trust endorses you, it can speed up the trust-building process with consumers who might have otherwise overlooked you.
• Market share expansion: Partnerships can help you break into new demographics or markets you might not have had access to before.

Something to remember: brand partnerships aren’t magic wands that you can wave and make all your problems go away. Some folks might argue that if you’re too new or too small, a partnership could overshadow you.

It’s a valid concern. Sometimes, you risk your brand’s voice getting drowned out by your bigger partner. That’s why it’s so important to choose wisely and negotiate fair terms that keep your brand’s essence intact.

Measuring Brand Partnership Success

Your brand partnership success can often be measured by looking at:

• Reach and engagement of collaborative content: Social media metrics, views, likes, etc.
• Site traffic: Are more people visiting your site after the partnership launch?
• Leads: Are you converting new potential customers or subscribers?
• Customer sentiment and feedback: Are people excited? Confused? Indifferent?

Brand partnerships aren’t all about the numbers, though. Don’t forget the intangibles. Maybe you’ve just drastically elevated your brand’s “cool factor,” even if it doesn’t show up directly in your sales numbers yet. Or perhaps you’ve invigorated your existing followers by associating with a more established brand. These emotional factors can be crucial because they often translate to long-term loyalty.

Benefits of Brand Partnerships

Brand partnerships can be a good idea to boost your business, but what exactly do they do? Let’s take a look at some of the best things a brand partnership can get you.

Attract a New Audience

One of the most direct benefits of a partnership is the ability to reach an untapped segment of the market. Think of it like a “buy one, get one free” deal for audiences. If your partner has a strong following in a niche you’d like to break into, teaming up can open the door to new fans and potential clients.

Add Value to Your Existing Audience

Partnerships aren’t just about new customers. Your current audience stands to gain from a well-orchestrated partnership. If you can collaborate with another brand to offer exclusive bundles, deals, or even fresh content, your existing fans will have more reasons to stick around and keep investing in your products or services.

Improve Brand Awareness

As a brand, you want more recognition so people know about you. Brand partnerships can create a tidal wave of organic publicity. Limited-edition product lines or collaborative digital content often get picked up by the media, creating buzz and chatter on social channels. This buzz can significantly lift brand awareness for both parties.

Increase Brand Credibility

When customers see two reputable brands working together, it can reinforce the idea that your brand is professional and noteworthy. The halo effect of a partner’s reputation can extend to your brand, accelerating trust-building with new followers who might otherwise take months (or even years) to warm up to you.

Pool Resources With the Partner Brand

A brand partnership is also about sharing tangible and intangible resources. This could range from splitting marketing costs, featuring each other’s brand ambassadors, or pooling together creative talent to produce a one-of-a-kind product. By sharing the load, you can often achieve more than you’d be able to on your own.

Brand Partnership Challenges

As promising as brand partnerships are, they’re not without potential hiccups. Collaborations can go south if you don’t pay attention to the following challenges.

Different Work Cultures

Let’s say your brand thrives on fast-paced, risk-taking innovation while your partner operates like a large corporation: structured, cautious, and methodical. These differences in culture can create friction in decision-making and timelines. One solution is to have a clear communication protocol in place from day one. Setting expectations about deadlines, approval processes, and points of contact can help avert conflicts.

Misaligned Brand Values

While occasionally “opposites attract,” you still need enough common ground for your target audiences to see the sense in the partnership. Coca-Cola pairing with a radical wellness brand that’s anti-sugar might be a head-scratcher and not connect with the audience. If your brand values are too far apart, you risk confusing your audience and diluting your own message.

If you insist on collaborating with a contrasting brand, though, you can still make it work. But you need to make it make sense on some level.

Market Shifts and Economic Changes

The world isn’t static. Trends come and go, and economic climates change. A partnership that seems logical during a booming economy might not feel as relevant if a recession hits. Who foots the bill if the campaign underperforms because consumer spending tanked?

Being flexible and building contingency plans can help offset unforeseen market shifts. Just because you’ve negotiated an agreement at the outset doesn’t mean you can’t revisit terms later if external conditions change dramatically.

Brand Partnership Types

Below are a few popular types of brand partnerships you can explore. But this isn’t an exhaustive list. You don’t have to box yourself into these categories if you’re brainstorming partnership ideas.

High-Low Pairings

One approach is pairing a luxury brand with a mass-appeal brand. Think of the collaborations between H&M and Mugler. The idea is that the luxury brand becomes more accessible and more people can buy their designs, while the mass-market brand gets to hitch its wagon to a high-end name, adding a dash of exclusivity to its collection.

Complementary Products

Another partnership option is bringing together two different products that naturally fit well. A classic example is Red Bull and GoPro. Red Bull is known for its sponsorships of extreme sports events, while GoPro cameras capture their adrenaline-fueled moments. I think this partnership was best exhibited during Felix Baumgartner’s space jump in 2012. The event itself was sponsored by Red Bull, and GoPro provided seven cameras to record every second of this freefall, providing the perfect partnership.

Sensory Experiments

Sometimes, brands collaborate to create experiences that tantalize the senses in unexpected ways. Take Coca-Cola and Tic Tac, which teamed up to produce Coke-flavored Tic Tacs. On the surface, it might sound odd, but for lovers of the iconic soda, popping a candy that tastes like it can be a quirky, memorable treat.

Tech Partnerships

Mixing analog with digital or heritage brands with innovative tech can lead to some cool limited-edition products. Consider the Gucci x Xbox collaboration, which saw the fusion of high fashion with gaming. This opened the door to a brand-new audience for Gucci while giving Xbox fans an exclusive collector’s item that signified both style and tech-savviness.

Shock Value

Then there are the partnerships that seem, well, a bit weird. From McDonald’s Crocs (yep, that’s a thing) to Polly Pocket-themed Airbnb houses, these unexpected collaborations rely on shock value. They catch the media’s eye and spark social media chatter, sometimes going viral precisely because people can’t believe the partnership exists.

Just keep in mind that shock value partnerships still need to make some basic sense for consumers to actually buy into it rather than dismissing it as a random publicity stunt.

How to Secure Brand Partnerships

So, you’re looking to partner up with a brand. How do you do it? Here’s a simple six-step guide to sealing the deal.

1. Do Your Research

You wouldn’t walk into a random conference room and pitch your brand without knowing who you’re talking to. The same goes for partnerships. Consider if your products or services complement theirs. If they already have a similar product, your idea might become redundant. Focus on what differentiates you and how a partnership could benefit them.

When you’re researching potential partners, here’s what you need to know:

• Their business needs
• Their company values
• Their target audience and whether it overlaps with yours

Here’s something you can try to refine your research skills: list five potential brand partners to target. Identify their needs, values, and target audience, and determine whether they’re a good fit for a partnership with your brand.

2. Build Trust and Credibility

Before approaching any brand, ask yourself: “Would I want to partner with me?” If your social media pages look neglected or your customer reviews are subpar, it might be time to do some house cleaning first. Show that your brand is well-managed, consistent, and has potential for growth.

Keep in mind that many big companies are wary of brand collaborations that could tarnish their image. If they see you as a risk, they won’t say yes. So, focus on building a positive track record, even if it’s on a smaller scale.

3. Make Your Pitch

When you’re ready to approach your target brand, keep your proposal concise and clear. Highlight these points:

• The value your brand brings to the table
• The mutual benefits of the partnership
• Your target audience and how the partnership will help them
• The timeline or potential scope of the collaboration

Avoid hype for hype’s sake. Be genuine about what you can offer, and don’t shy away from numbers or data if you have them. Data (like engagement rates, social media stats, or customer testimonials) can make your proposal far more compelling than a generic pitch.

4. Start Negotiations

If the brand shows interest, great! Now it’s time to discuss terms and conditions. Things like budget, timelines, deliverables, and promotion strategies. It might be tempting to skip over legal details in the rush to get started, but that might trip you down the line.

Put everything in writing, either through a contract or a Memorandum of Understanding (MOU). This ensures that both parties are crystal clear on expectations and reduces the risk of disputes in the future.

5. Execute Partnership

Once the deal is signed, it’s go time. Launch the campaign or product with a well-coordinated plan. Make sure you:

• Leverage both brands’ social media channels
• Create buzz through email marketing, PR releases, or influencer endorsements
• Provide high-quality content that represents both brands in the best light

Quality execution can make or break a partnership. If the end product feels rushed or lacks synergy, consumers will pick up on that in a heartbeat.

6. Maintain Relationships

A lot of entrepreneurs treat brand partnerships like one-off deals. But if you forge a great relationship, it might be a good idea to keep that door open for future collaborations. Send thank-you notes, share performance results, and stay in touch. You never know when you might want to team up again down the road.

Top Brand Partnership Tips

Securing partnerships isn’t easy. You may not know which brands to work with and what kind of collaboration to pitch. Here, I’ve compiled some field-tested tips to boost your chances of partnership success.

Ensure Both Brands Bring Something to the Table

It might be tempting to pitch a brand solely for the sake of hitching a ride on its popularity, especially if it’s a well-known brand. However, a one-sided deal rarely goes well, and your brand might be overshadowed by your partner’s.

Make sure you can demonstrate how your partnership benefits them as well. If your potential partner sees that you can bring value to them, they’re more likely to consider the partnership.

Have Clear Goals in Mind

Are you aiming to increase sales, boost brand awareness, or break into a new market segment? Having a good strategy and setting clear goals from the outset helps you measure success more accurately and stay aligned throughout the project. Clear goals also stop you from biting off more than you can chew and getting into partnerships without any focus.

Know Why You’re Collaborating With That Brand and Create a Collab That the Audience Values

Don’t just pick a brand because they look trendy. Make sure you have a genuine reason for the collaboration that aligns with your brand story and offers a new experience for your audience.

At the end of the day, you’re creating this collaboration for an audience. If they don’t care, it doesn’t matter how well you executed it behind the scenes. Put yourself in your customers’ shoes and ask, “Would I be excited about this?” If the answer is no, then you should probably go back to the drawing board.

Common Brand Partnership Mistakes

Whether you’re new to brand partnerships or have done it for years, you’re not immune to mistakes. Mistakes are learning experiences, but that doesn’t mean you have to make them first before you can learn from them. Here are some common mistakes in brand partnerships that other people made for your learning benefit.

Mismatched Brands

You might think that “shock value” is enough to carry any collaboration. But if the audiences are so vastly different that they can’t find any overlapping interest, the partnership will likely flop. You don’t need to be identical, but you do need some common ground.

No Clearly-Outlined Goals

Going into a partnership without clear objectives is like sailing without a compass. You won’t know if you’re off track until it’s too late. Make sure all stakeholders are aligned on the KPIs or key success factors before you start. More importantly, make sure you monitor those success factors once you begin the partnership.

Poor Communication and Coordination

The collaboration process can be like a relay race. If one brand passes the baton poorly, the entire initiative stumbles. Weekly check-ins, a shared project management tool, or a designated point person can help keep both teams in sync.

Low Commitment to the Partnership

Some brands enter collaborations to check a box, not to genuinely invest. If you sense that a potential partner isn’t willing to dedicate time or resources (like marketing or creative assets) to the project, that’s a red flag. Successful partnerships require full buy-in from both sides.

Conclusion

Brand partnerships have the potential to accelerate your journey toward building authority and visibility in your market. They can help you reach new audiences, boost credibility, and create products or campaigns that truly resonate with your customers. At the same time, you have to be mindful of the challenges, from differing work cultures to unexpected market shifts, and make sure you’re entering a partnership that adds value for both parties.

Here’s what we learned:

• Brand partnerships can be magical tools for growth, but they need solid alignment and a shared vision.
• Success is measured not just by numbers but by emotional resonance and brand perception.
• Securing your first brand partnership involves research, trust-building, a strong pitch, negotiations, execution, and relationship maintenance.

The next step is to take action. Brainstorm at least five potential brands you could collaborate with. Take the time to polish your brand’s image, gather relevant data, and get ready to craft a killer pitch. Remember, even if the first brand you approach says “no,” it’s not the end of the road. Use the feedback to refine your approach and try again.