4 Opportunities You're Missing To Leverage Brand Relationships For Success (Part 1)

In today's competitive marketplace, building and nurturing strong brand relationships is essential for success! There's no question how valuable establishing these relationships can be for your products and brand (and bottom line). No matter if you're a Brand Manager, Product Manager, Product Marketing Manager, or owner, understanding how relationships can influence your brand is essential in today's business world. We will cover four ways you can leverage relationships to support your brand and achieve your goals.  

1. Tap Into Existing Consumer Perceptions:

Brand reputation and consumer associations are powerful tools. By understanding how consumers perceive your company, we can leverage those existing perceptions to our advantage. For example, the Samsung name appears on all of their electronic products, unifying them with customers' knowledge and perception of Samsung. However, there may be times when you won't want to associate your products and brand with your parent company. You may forgo the association when there isn't alignment between your brand and the company. Much like Tom's of Maine toothpaste, whose focus is on natural products won't strongly brand that they're a majority-owned subsidiary of Colgate-Palmolive. The brand and product perception as a natural alternative doesn't align nearly as well with consumers' views of the Colgate-Palmolive company, so you won't see strong branding tying the two together.  
 
 

2. Consider The Power Of Place:

Don't discount the influence your country of origin and regional branding can have on your brand! Your location may significantly influence consumer preferences. Highlighting your product's origin or your brand's local roots can create a sense of authenticity and trust. Additionally, by tying your brand to a geographic location, you're taking on the perceptions commonly had about the location. For instance, the Idaho Potato Commission has built their sense of place right into their logo, featuring the fact that potatoes are grown in Idaho. Idaho and potatoes have become almost synonymous with each other, fitting like a hand in a glove. Sure, other states grow potatoes, but can you list any of them? (For those who are curious, Washington, Wisconsin, Oregon, and many other states grow potatoes; most of us don't associate potatoes with those states.) Most consumers will see Idaho potatoes as a natural and reliable fit.  
 
 

3. Mind Where Your Product Can Be Found:

We've already discussed the impact consumers' perception of place can have on your brand – however, the same can be true of where they can find your products. Consumers judge brands by where they are sold. A product sold at a Dollar General Store will be seen differently than one sold at Erewhon. Macy's dropped the Liz Claiborne brand when they started selling "Liz & Co" at JC Penny stores. If you choose your distribution channels with care, you can enhance your brand's perceived value.  

4. Strategic Partnerships: Co-Branding & Ingredient Branding:

When it comes to leveraging relationships, you don't have to go it alone; collaborating with other brands can create synergistic opportunities for growth for your brand. There are two ways you can partner with other brands so that you both can leverage the relationship. The first is through co-branding. This allows the two brands to leverage each other's strengths and reach a wider audience. A great example of this is a Shell Gas Credit Card with Mastercard. Two widely recognized brands both putting their names on a product. 

Ingredient branding, on the other hand, involves incorporating a well-known brand's components into your own product, enhancing its value and appeal. Take the recent partnership between Doritos and Taco Bell. Together, they launched the Doritos Locos Tacos. This was an absolute hit! It isn't the first time Taco Bell has launched a co-branded product, and it won't be the last. For some brands, ingredient branding is a great way to go!  
 
 

These are just four out of eight ways you can strategically leverage brand relationships. In our December blog, we'll share the four other ways you can use brand relationships to create win-win scenarios that benefit your organization and brand partners. Remember, a strong brand is built on stronger relationships!