Today SCHMOOZY FOX is going to talk about brand partnerships.
This is an important topic that should be on the radar screen of young and promising funky brands. If your company is not a completely new start-up, and you have already achieved a good degree of brand awareness of your product or service in your main markets, then consider partnering up with another brand.
Well, provided you choose your brand partner smartly, this can enhance your own brand positioning, and add some nice new aspects, flavors, emotions and associations to your brand.
Some earlier examples of brand partnerships mentioned on SCHMOOZY FOX, have been the collaboration between Naked Wines & Jamie Oliver, Nike & Dizzee Rascal, as well as a celebrity endorsement of Baileys by Kim Cattrall.
Another example that's worth mentioning is the recent partnership between Dell and a nail polish producer OPI. At first, this might sound like a strange idea: the product categories are totally different, how can they complement each other?
But Dell went for it, introducing 26 nail polish themed colors to choose from in the Dell-Design studio, a site which allows customization of laptops.
It actually seems quite logical to me why Dell went for this partnership. The main advantage is that Dell now has 26 nice and shiny ways of selling laptops to style and fashion conscious female customers. I would choose these two shades of orange that would look very funky for SCHMOOZY FOX, what do you think?
The advantages of this partnership seem more obvious for Dell than OPI.
OPI also got something out of this deal, of course: getting your name mentioned on Dell's site must be a fantastic boost to the nail polish producer's brand. It looks like OPI is targeting those female business professionals who want to stay stylish at work – matching your laptop with nail polish probably seems like a cool thing to do.
But will the ladies who have just bought one of those orange Dell Inspiron laptops run to the shop to get a matching shade of OPI, or can they choose another brand's nail polish in the same color? In other words, it's not totally clear whether this partnership will boost the OPI sales in the short term. However, the possibility of long-term positive effect on future sales from raised brand awareness is strong.
So, get those brand partnerships on your radar screen, and have fun giving manicures to laptops. As long as it brings you more happy customers.
If you want to know whether a brand partnership is a good idea for your company, ask olga (at) schmoozyfox (dot) com.