Growth doesn’t come easy for CPG brands these days. With digital ads no longer performing like they used to, a flood of new competition in the market and consumers tightening their purse strings, many brands are looking for alternative strategies to market their products.
If that sounds familiar, then this article is for you.
Here at ShopSwap, we believe that partnership marketing is the most slept-on strategy in CPG, and we’re here to tell you all about it.
Let’s dive in!
Partnership marketing is all about teaming up with other brands to promote your products to their audience, and vice versa. Campaigns range from sharing discount codes to each other’s email lists, to adding product samples to each other’s orders.
Brands work hard to build audiences that care deeply about their products and story. If you can find brands that share your values and target audience but sell non-competitive products, there is a fantastic opportunity to collaborate.
Brand partnerships of all kinds have the potential to bring in a large number of new leads, and even drive direct sales. Jack Johnson nailed it when he sang, “I’ll tell you one thing, it’s always better when we’re together”.
Let’s run through some of the major benefits of partnership marketing, and why you should try a brand partnership out if you haven’t already!
Two brands = two audiences. One of the biggest perks of collaborating with like-minded brands is that you can effectively double your campaign’s reach. Both brands can instantly tap into a second pre-vetted audience who are more likely to resonate with your brand than the average consumer.
Working with a brand that shares the same values as yours means their customers will have similar needs, desires, and wants to your own. This is a game changer for CPG brands because it’s a high-trust method of getting your products in front of highly-aligned customers.
For brands looking to access new customers – it’s a no-brainer.
Compared to other strategies such as paid ads and influencer marketing, partnerships are one of the most cost-effective methods of marketing.
By partnering with another brand, each of you has access to a bigger pool of resources and talent for no extra cost. By combining your budgets and agreeing on mutual collaboration, you can run a much larger campaign that you might not have been able to access alone.
Working with a complementary brand can also be particularly helpful when entering a new market – partnering with someone who is already well established in that market means you’ll need to spend less time and money building brand awareness and credibility (saving you some serious $$$). This makes partnership marketing the perfect method for start-ups and CPGs working with tighter budgets.
“Alone we can do so little; together we can do so much” – Helen Keller
Using the help of another team, you’ll be able to produce a much higher-quality campaign in a far shorter amount of time. To achieve the same results working as one, you’d either have to lower your sights or be prepared to budget for a lengthier timeline. We know which we’d prefer!
You are also likely to see results faster than if you were working alone too. Collaborating with another brand grants you access to their customers’ loyalty, meaning that their audience is far more likely to trust your product as they do with your partner brand. It provides your product with a rare form of social proof – approval from a brand the audience already trusts!
Learning from another company can be invaluable, and can help your brand to grow and succeed even long after the collaboration has ended.
Collaborating with another brand and their team allows you to gain knowledge and experience new ways of thinking. With two brands working together on a campaign, there is more talent and therefore more room for bigger and better ideas. Both you and your partner brand will have your own strengths that you can use to your advantage. You can each share ideas, methods, processes and tools that will give your campaign the best possible chance of success.
Ready to dive into your first brand partnership? Then check out ShopSwap – the fastest-growing network of DTC brands actively seeking co-marketing opportunities! Click here to get started, for free!