There's power in partnerships for your brand

as Published in the Globe and Mail (National Edition) - June 21, 2010

Many companies have successfully teamed with major events, social causes, high-profile entertainers and events to promote their brand.

However, just hitching your brand to a celebrity or organization isn't enough any more. Brands need to connect with partners in deeper and more meaningful ways. And, as brand owners seek ever more creative ways to stand out from the crowd, the stakes and costs of these brand associations have become bigger.

Marketers who get it right find ways to seamlessly integrate their brands with their partners' brands in ways that elevate both.

So how can marketers put these more powerful symbiotic relationships together?

A complementary partner
Bank of Nova Scotia is in the business of providing mortgages. While a mortgage is part of the equation, creating the perfect home requires more than just financing. Scotiabank saw an opportunity to capitalize on this insight and position itself as a financial institution that thinks about more than money. It teamed with Rogers Communications Inc.'s media group to launch Home Experts, a website that acts as a resource for renovating, decorating and financing advice. Rogers had the home decorating and reno content and experts to complement Scotiabank's financial know-how. Together, they were able to present a more holistic approach to home ownership.
Share a goal Consumers want to understand the full value being created by a brand partnership. They'll give your brand credit only if they are sure your commitment goes beyond providing your logo. They want to know your organization believes in what it's supporting.

Coast Capital Savings Credit Union, based in British Columbia, proved such commitment when it joined forces with the YMCA of Greater Vancouver, signing a multiyear partnership and contributing $1-million to provide financing for 69 licensed child-care and pre-school spaces in a centre bearing its name at the new Robert Lee YMCA in downtown Vancouver. The partnership links Coast Capital's financial expertise with the Y's social expertise and is an extension of the credit union's efforts to support early education and community leadership initiatives.

Ensure a DNA match
Your partner must share similar values and world views. Your target audience will instantly sense if the fit is authentic and if the partner brands are working seamlessly to deliver on the promise of the association.

American Express Co. has a long history of corporate social responsibility (CSR) programs, supporting thousands of non-profit groups over the years. To reignite its efforts, Amex recently linked with Take Part, an online community that provides information and resources for social activism. As a result of this partnership, called the Members Project, Amex provides its members with access to a Web-based resource that introduces them to ways to become involved in their local community, donate money or reward points to one of thousands of charities or receive reward points for volunteering. Take Part gets access to a vast premium audience looking to find ways to make a difference. Amex found a partner that enables it to more efficiently and effectively be involved in the CSR that is a core part of its brand.

It works both ways
Interestingly, it appears that corporate/not-for-profit partnerships have significant benefits for both the corporation and the not-for-profit. More than three-quarters of respondents to Boston-based, cause-marketing agency Cone Inc.'s most recent marketing trend tracker said they believe such partnerships enable the non-profit cause to stand out.

As well, 59 per cent said they are more likely to buy a product associated with the partnership, 50 per cent said they are more likely to donate to the non-profit and 41 per cent said they are more likely to volunteer for the non-profit. Corporate partners seen to be living up to a non-profit's goals and aspirations can add big value to their own brands as well as elevate awareness and interest in the cause.

It doesn't have to be serious
Partnerships don't always have to be deep, meaningful and complex. They can be as simple as picking the right endorser or spokesperson. If your brand is fun, make your partnership fun, too. Mars Inc. did that when it featured former Golden Girls star Betty White playing touch football in the ad for its Snickers chocolate bars during its big-budget Super Bowl campaign, playing off a shared sense of irreverence. Snickers is a fun brand that provides moments of pleasure; taking itself too seriously would have been the wrong approach.