Want to develop a successful company? Imagine collaborating with a different company to build an appealing product for your target customers. We asked successful businesses that pulled it off, and they shared their entire strategies. Now, you can find out all of their secrets too! This detailed guide will explain dual branding, examples of successful campaigns, and tips for developing a solid brand.
What Is Dual Branding?
When two distinct brands collaborate to promote one another, this marketing strategy is known as dual branding. Dual branding differs from co-branding, which includes producing a new branded product by two or more companies working together. Instead of co-branding, dual branding makes use of products or services that already exist. Most instances of dual branding involve one brand being suggested by the other as a perfect complement to the first. In some circumstances, one corporation may promote and sell another company's products. When a younger, less well-known company teams up with an older, more popular company, dual branding can be a practical approach for increasing the company's visibility to a broader audience.
Real-Life Examples of Dual Branding Coca-Cola and McDonald's
McDonald's provides Coca-Cola products as their preferred beverage for everyone consuming a fast-food meal.
Since the Coca-Cola brand has been incorporated into the McDonald's business, McDonald's can now leverage its trademarked products, marketing materials, and unique selling propositions to strengthen its offering. Using dual distribution marketing tactics to promote the two businesses together, Coca-Cola also gets to promote itself as the official beverage of McDonald's.
BMW & Louis Vuitton: The Art of Travel
BMW and Louis Vuitton seem like an unlikely pairing. However, they do share certain essential qualities.
Both companies are in the travel market, as seen by Vuitton's famed bag collections. Luxury and brand equity are essential to them. Finally, they're both well-known, established firms with excellent craftsmanship. Because of these shared values, they dual-brand. BMW and Louis Vuitton worked together to design a unique four-piece set of luggage and bags that neatly fit into the back parcel shelf of the BMW i8 sports car.
Sony & Ericsson: SonyEricsson
This is yet another remarkable instance of a business that used dual branding in the past but has now disintegrated. Sony Ericsson was an internationally renowned and prosperous manufacturer of mobile phones.
Renowned suppliers of mobile networks and mobile devices are Ericsson from Sweden and Sony, a renowned Japanese manufacturer of electronic products. Utilising Sony's well-known Cyber-shot and Walkman technology, Ericsson and Sony collaborated well to create several successful products.
GoPro and Red Bull
The partnership between GoPro and Red Bull is another example of a fantastic dual branding strategy that has been successful.
They collaborated to generate content that would resonate with their expected audience by showcasing extreme sports and experiences in a way that would get the audience's blood pounding.
Benefits of Dual Branding Skills and expertise
More than logos and colours may create a distribution, marketing, and brand awareness plan. Brand experts can gather to benefit from the knowledge of experts on both sides. Attracting investors and clients is made simpler by the combined capabilities of the two businesses.
Cost reduction
Because dual branding frequently accompanies multiple marketing techniques, dual-branded businesses can save money on part of their marketing budgets. Businesses can collaborate to use one another's marketing resources and brand recognition to reach new consumers.
Diversification
The expanded product and service offerings made possible by the company's dual branding are second to none. Due to its complementary offerings and substantial brand equity, the dual-branded firm may attract more customers than each original brand could.
Market Penetration
The company can reach a wider audience thanks to dual branding, which could boost sales. Rather than competing on approximately equal footing in the same industry, this situation would be more likely if each company involved had previously established a track record of remarkable success in its field.
Characteristics of a Working Dual Branding Strategy Complementary Brands
The two businesses' products, customer base, and overall vibe ought to blend well together. The cooperation between the two products or services increases their value to customers and makes the combined offering more appealing.
Clear Communication
A unified marketing effort requires honest and open communication among the businesses working together. It ensures both businesses are on the same page, know their places, and communicate consistently.
Expanded Market Reach
By appealing to each other's consumer bases, a practical dual branding approach increases both companies' exposure. This combination raises Brand awareness, and potential customers may be attracted.
How to Choose the Right Dual Branding Strategy
The first and most crucial step in launching a dual branding strategy is finding the proper company to work with.
Companies should look for a partner whose brand image and values are compatible with their own rather than focusing exclusively on the industry in which the partner operates. A high-end apparel company could want to team up with an equally upscale company, while a young, energetic company might look for a partner with a similar brand image. A company's existing brand image may be strengthened, and a more appealing and unified campaign can be developed by selecting a partner with an identity complementary to their own. Once a good fit has been found, the next step is to deliberate about what products will be brought together. Instead of collaborating on all of a company's brands, as is sometimes the case, dual branding focuses on promoting only two.
Tips to Make Your Dual Branding Strategy Work Clear Collaboration Objectives
Set explicit goals for the cooperation before the collaboration starts.
Discuss your motivation for collaborating, its advantages, and how it will affect your current brand image, target market, and continuity plans. The campaign's success is maximised by well-defined objectives that guarantee brand alignment for both parties. For example, a luxury fashion brand and a high-end cosmetic company may aim to create a limited-edition luxury makeup collection that complements the fashion brand's latest runway collection.
Similar Brand Personalities
The collaborating brands should have comparable brand personas, even if they don't have to be from the same industry. Look for compatibility in each brand's features and qualities to distinguish itself. For instance, despite being in separate businesses, GoPro and Red Bull collaborate well because they value adventure and an active way of life.
Deliver Unique Customer Benefits
The dual branding approach needs to provide something special for the consumer. Create a new entity that stands out from the competition by integrating the best features of both companies. In the case of the Apple Watch Nike+, for instance, the two companies worked together to create a unique and feature-rich product by fusing both sports gear with cutting-edge technology.
Utilise Both Brand Identities
Make use of the two companies' established reputations in the advertising effort. Logos, typefaces, social media visuals, and package design should all present a well-rounded picture of each company.
Visuals account for 55% of brand initial impressions.
A healthy relationship can be maintained by giving both brands equal importance.
Conclusion
A dual brand strategy may help numerous companies, significantly growing ones. Dual brand tactics are only for some, and endeavour to check a company's mission and ideals before cooperating. The partnership should improve brand awareness. Dual branding can help, but be prepared for difficulties. If your partner-brand relationship deteriorates, be prepared to quit.
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