Advantages of Partnerships for New and Emerging Brands

What do matcha, tennis and vegetarian meat have in common? Collaborations of course. Whether you are launching a new product, brand, or initiative, partnerships are crucial for success. Bringing a partner into your brand’s plan for launch will open the door to new customers, monetary gain and awareness greater than working on your own. Consider the many advantages that partnership offers as you begin your brand’s emerging journey into the market. 

Benefitting From Your Partner’s Strengths 

Redefine Meat™, the plant based meat company, partnered with Selina, a travel brand that specializes in co-living and experiences. They worked together to provide more plant based options in Selena’s various locations. The Selina brand not only has an established reputation but also growing popularity that Redefine Meat™ was able to benefit from through partnership. In return, Selina is able to accomplish some of their Corporate Social Responsibility (CSR) goals through offering Redefine Meat’s products within their properties leading to a win-win situation for both brands.

Positioning Your Brand for Success In The Early Phases of Launch

The way your brand is positioned in the market is crucial to success. During the preliminary phases of developing your marketing plan you decide what kind of customers your products or services will appeal to and how to best reach them. It’s not just about what your brand is bringing to the market but the way you launch is crucial to success. No pressure though, right? To put your best foot forward, consider utilizing partnerships in the beginning phases of a launch.

Promoting your company and reaching the right audience can be a trying task. Partnering with another brand early on will allow your brand to build a reputation and audience base through a reliable partner. 

Building Brand Trust Through Partnership

As consumers, we’re influenced by the products we are exposed to. The cult-favorite coffee and juice bar, Joe & the Juice teamed up with MatchaBar, a wellness/green tea provider to launch matcha products in their store locations nationwide. While the idea of coffee and matcha together does seem to be a natural fit, the Joe & the Juice founder’s mission to offer the highest quality products to customers allowed this partnership to come to fruition.   

We often associate memories with goods and services we consume and remain loyal to brands that we can trust. As a new brand, partnering with a successful and established company will open the door to reach a new audience. As a consumer, when a brand we know and trust recommends a new product or service, we are more likely to respond. Hence, a loyal Joe & The Juice customer might decide to get their daily greens in by trying out MatchaBar matcha tea next time they stop in Joe & the Juice.

​​Growing Revenue Together

Forbes made the connection that brands can come together to “add value and grow revenue for each other” through partnership. Working with another brand can boost not only awareness, but also bolster sales by exposing you to new customers. Instead of putting your marketing dollars towards traditional platforms (magazines, newspapers, online ad placements) you can utilize your organic assets to leverage a partnership with another brand. 

As Forbes mentioned, it’s now more simple than ever to facilitate a partnership. Technology has made the process of collaboration between brands both “easier to use and less expensive”. This leaves room for your brand to access your ideal audiences without all the frills traditional media buying requires.

In the spirit of togetherness with the goal to grow revenue we come to Reigning Champ x Prince. Reigning Champ, a well established athleisure brand found partnership success in working with the iconic tennis brand Price for a capsule collection spanning across apparel wear for athletics. By expanding on sport apparel offers and creating a niche collection for tennis players both on and off the court, both brands garnered monetary success. 

How To Get Started 

Beginning your partnership journey as a new brand will require strategic thinking and internal assessment. It’s important to be open minded about the partners you consider. Think about the various ways that you can offer value for a brand you choose to work with, and how a strategic partnership will enhance your goals.Regatta specializes in all things partnership marketing. Need some help getting started? Drop us a message and let us help you reach your partnership goals.