What is Alliance Marketing?
The latest in the Marketing Bullhorn series, today we’re going to examine Alliance Marketing – the process of joining two or more organizations for the purpose of sharing marketing strategy, promoting concepts, services or products. Basically, alliance marketing can apply to any business as long as it finds an organization that has a mutual goal.*
Alliance Marketing For The Small Business:
I like to think of Alliance Marketing as an Informal Strategic Partnership. You see it all the time without even realizing it. The idea is to partner with another company in another industry. You want the partnership to make sense from a marketing standpoint but you don’t want to select a business that would compete for your clients so it is important to think carefully about who would be a good fit.
The benefits of this type of marketing are great especially for small businesses without the resources to launch a large-scale marketing campaign. With Alliance Marketing you pool your resources to co-brand your product or service. Strategic partnerships can be a highly effective way to build a business, boost brand awareness, and break into new markets. But for a partnership to truly work, it has to be a win-win for all players in the game. The value perceptions, target audiences, prices, and promotion channels need to match. Let’s look at the GoPro/Redbull campaign:**
GoPro & Red Bull: “Stratos”
GoPro doesn’t just sell portable cameras, and Red Bull doesn’t just sell energy drinks. Instead, both have established themselves as lifestyle brands — in particular, a lifestyle that’s action-packed, adventurous, fearless, and usually pretty extreme. These shared values make them a perfect pairing for co-branding campaigns, especially those surrounding action sports.
To make the partnership work, GoPro equips athletes and adventurers from around the world with the tools and funding to capture things like races, stunts, and action sports events on video — from the athlete’s perspective. At the same time, Red Bull uses its experience and reputation to run and sponsor these events.
While GoPro and Red Bull have collaborated on many events and projects together, perhaps the biggest collaboration stunt they’ve done was “Stratos,” in which Felix Baumgartner jumped from a space pod more than 24 miles above Earth’s surface with a GoPro strapped to his person. Not only did Baumgartner set three world records that day, but he also embodied the value of reimagining human potential that define both GoPro and Red Bull.
Obviously, small businesses don’t have the marketing budget of a GoPro or a Red Bull (or Apple and Nike) but this is a perfect example of how co-branding and Alliance Marketing can be beneficial for both companies.
There are many ways to get your brand in front of your target market. The key is to employ creativity and business savvy to reach your goals. Talk to a marketing professional to find the best ways to stay top of mind.
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3D Studios helps businesses grow their influence and their brands. As a boutique brand management agency, we begin with a thorough analysis of your needs and partner with you to develop and execute a marketing plan that will help you take your business to the next level. To learn more about how 3D Studios can help you, visit us at www.3Dstudios.net or call 914-304-4229.