Partnership Business Examples: Everything You Need to Know
There are many partnership business examples. One type of partnership is co-branding, which is an advertising partnership and strategic marketing that exists between two brands. 3 min read
There are many partnership business examples. One type of partnership is co-branding, which is an advertising partnership and strategic marketing that exists between two brands. The success of one company depends on the success of the other. This can be a good way to get into new markets, build more business, and increase awareness. A partnership needs to be a win-win situation for both sides in order for it to be successful.
Red Bull & GoPro
One example of a partnership business is the relationship between Red Bull and GoPro. GoPro sells more than portable cameras, while Red Bull sells more than energy drinks. They are both lifestyle brands that have similar goals. They have the following in common:
These make them the perfect fit to pair up for campaigns, particularly when it comes to action sports. GoPro gives adventurers and athletes the tools they need to capture their stunts, sports events, and races from the athlete's perspective. In turn, RedBull puts on and sponsors the events.
These companies have done many projects and events together, with the biggest being "Stratos." In this campaign, Felix Baumgartner had a GoPro strapped to him and jumped from a space pod that was 24 miles above the surface of the Earth. He set three world records but also showed the potential humans have that defines Red Bull and GoPro.
Sherwin-Williams & Pottery Barn
One of the largest advantages of doing a co-branding campaign is having the opportunity to showcase a service or product to a new audience. That's what Sherwin-Williams and Pottery Barn did when they got together in 2013. They created an exclusive line of paints together, and then put a new section up on Pottery Barn's website to allow customers to easily pick which paint colors they wanted so it would go with their furniture choices. This was mutually beneficial for both brands, and they wrote articles to show how customers could decorate and paint on their own.
West Elm & Casper
Casper is an online bedding and mattress store that is known for selling mattresses in a box. They have popular YouTube videos that show the mattress unboxing process and even have a 100-day return policy. However, some shoppers might not want to buy the mattress if they can't test it for themselves first. Casper decided to partner with West Elm so people could try out the mattress in person before they bought it. West Elm was also able to show off their stylish bedroom furniture.
This was a co-branding partnership that was mutually beneficial, as both brands reached a wider group of shoppers. It also gave shoppers more options to see both what it'd be like to sleep in a bed frame and to try the mattress first.
Dr. Pepper & Bonne Belle
Bonne Belle first launched the first flavored lip balm in the world, Lip Smacker, in 1973. The original flavors included lemon, strawberry, and green apple. In 1975, they decided to partner with Dr. Pepper to create one of the most popular flavors of lip balm ever, the Dr. Pepper lip balm. They even teamed up for their new slogans to promote the lip balm.
Louis Vuitton & BMW
Louis Vuitton and BMW may seem like a strange partnership initially. However, they have several traits in common. They both promote travel, as Louis Vuitton is known for their elegant luggage lines. They both consider luxury to be important, and they're both popular brands that are known for their high-quality products. BMW created a car named the BMW i8, and Louis Vuitton created a four-piece set of bags and suitcases that seamlessly fit into the rear parcel shelf in the BMW. This partnership showed the shared values of technological innovation, creativity, and style.
Spotify & Uber
Spotify partnered with Uber because they both had the same goal of getting more users even though they had different products. Uber riders can pick out a Spotify playlist to choose what they'll listen to during their ride. This helps both Spotify and Uber fans have a better experience during their ride in the car.
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