Owning a small business can be one of the most difficult professions to navigate. Most weeks, you probably feel overwhelmed, wondering if you’re “doing it right.” While going back to working for someone else isn’t a viable solution, perhaps working with someone else is. While your business will always need to stand out, it doesn’t always have to stand alone. Branding co-ventures let you pair up with another company to offer something unique, proving perfect venues for mutually beneficial partnerships.
Growing Your Business Brand
Your brand is the essence of your business. It’s the je ne sais quoi that makes your company memorable and distinct from any other. So, is it perhaps counterintuitive to think of combining your special something with another company’s signature product or message? Perhaps, but under the right circumstances, it can extend your reach into untapped markets and strengthen your momentum for further expansion.
1. Choosing Effective Business Partnerships
Business partnerships have proved invaluable to many Louisiana businesses, allowing them to showcase their products to new audiences who already trust their partner brand. These strategic partnerships aren’t rooted in competition but instead are much like a friend introducing a friend. For example:
The beer brewers at Bayou Teche Brewing take pride in their Cajun and Creole hand-crafted creations. In keeping with that theme, they teamed up with “The Original Cajun Coffee” roaster Mello Joy and Primo’s Peppers to create the artisanal Biere Joi, aged in oak whisky barrels with cacao nibs and vanilla beans. Together, the three formed a partnership that embodies full southern Louisiana flavor.
Ragin’ Cajuns Strong Championship Blend Coffee
In another strategic partnership, Mello Joy and the University of Louisiana at Lafayette worked together to package a strong dark roast coffee blend that lets fans “celebrate their Ragin’ Cajun pride” in winning 5 conference championships in one year.
To highlight their premium pecans’ versatility, Cane River Pecan Company partners with notable Southern chefs like Ashley Roussel to create both savory and sweet recipes featuring their gourmet Louisiana pecans. Pecan-loving foodies can access Roussel’s prestige recipes for pecan chicken salad, spiced lamb chops, pecan apple crisps and more as well as order pecan products directly from the website.
The Louisiana Lottery
In 2015, its $2 Spice It Up! scratch-off games featured Tony Chachere’s Original Creole Seasoning and “Pack Your Pantry” prize packages. One of its latest partnerships is a $5 SAINTS GOLD scratch-off celebrating the New Orleans Saints’ 50th season.
2. Linking Informal Partnerships
While business partnerships involving specific products are typically contractual and legally binding, simpler and more easily orchestrated forms of brand partnering are available to you daily. Cooperation and mutual benefit can be as simple as putting in a good word – or tag, for example. By sharing content on your web page that may interest another brand’s audience and tagging them in the post, you can potentially gain unlimited reshares and exponentially expand both your clienteles.
3. Creating Criteria for Symbiotic Relationships
The best brand partnerships secure a symbiotic relationship where both brands – and therefore both partners – benefit. A joint branding venture has to not only make sense and be profitable to you but also be an attractive cross-over pairing for both of your clienteles. So, when you’re contemplating a branding partnership, think about:
- What you’ll contribute to the partnership versus what you’ll receive from it over both the short term and the long.
- What your potential partner will contribute and receive.
- Whether your potential partner’s image and message compliment and support yours.
- How your potential partner’s reputation will impact your business and client-based relationships.
- Ways you can grow the partnership through small ventures that build strong business relationships while opening the door to future investment and partnership opportunities.
4. Engaging Audiences
Optimally, your branding partnership will be a positive step in the process of building your business and making it continue to grow. Perhaps even more important, it’s a way of solidifying your stake in your community and expanding your role in its economic success. For more branding ideas, creative marketing insights and innovative ways of transforming all of your hard work into more customers – and the company you envisioned – contact us. Whether you’re just starting out or are a world-class business veteran, we’re a great branding partner to have.