How Furniture Companies can Maximize Co-Marketing and Co-Branding Opportunities
Erika Sparrow, Vice President of Sales
Imagine Advertising, Inc.
Co-marketing and co-branding involve two or more companies working together on a promotional effort around a product or idea. Both companies benefit from the exposure to each other’s loyalists when it’s done right. Imagine Advertising has worked with over 1,000 furniture stores in the last few years to implement successful co-marketing initiatives.
Two popular examples of co-marketing include Nike and Apple bringing a work-out and music experience together and Hershey and Betty Crocker creating a better brownie.
Four Co-Marketing Benefits
- Double the marketing outreach and increase sales
- Save money
- Increase brand credibility and awareness with existing and new audiences across platforms, especially social media
- Benefit from positive brand associations such as family fun at home watching movies
Furniture Companies and Co-Marketing Initiatives
The furniture industry has increased co-marketing efforts by embarking on a number of initiatives with celebrities from the worlds of music, design, acting, and modeling. These partnerships differentiate their products and their designs from the usual stable of manufacturer branded SKUs. These partnerships can create fun, relevant, and engaging messages that reach a variety of consumers.
Here are a few co-marketing endeavors with movies and furniture retailers that have proven successful.
Fox Studios Ice Age
Partnership with 20th Century Fox's "Ice Age 3: Dawn of The Dinosaurs" created “the Largest Furniture Event in 2 Million Years.” Hundreds of retailers participated in this event and incorporated gifts with purchases to drive traffic and sales to their stores.
National, Regional & Local Sports Themed Promotion
The largest DVD distributor in the country offered a sports themed omni-channel promotion with retailers that involved giving away of 704 sports themed DVD's with purchase of a DVD player.
Sony Pictures Smurfs 2 Movie
Sony Pictures Smurfs 2 movie created a fun promotion for the back to school selling season with hundreds of retailers who reaped sales success across the board.
DreamWorks Movie HOME
Through partnership with DreamWorks studio's movie HOME an omni-channel promotion - "The Galaxy's Greatest Furniture Event" – arrived in time for tax season. Hundreds of retailers participated. Many achieved double-digit sales increases.
“We partnered with Imagine Advertising for the DreamWork's movie HOME promotion to drive business with our kid’s furniture. In addition to using our normal marketing campaigns, we used Imagine's ideas of partnering with McDonald's who was promoting the movie as well.
This gave the store more recognition within the community which increased traffic and sales for McDonald's and us.”
- Kelly Gunville, Conlin's Furniture
Co-Marketing Guidelines and Key Questions
Co-marketing offers enormous potential as well as pitfalls. Ask a few questions to minimize risk before entering a formal relationship. Does the partner meet the following criteria?
- Compliment my brand? For example, home entertainment furnishings and movies go hand-in-glove.
- Share similar values with our company?
- Hold a high ranking position among their competitors?
- Assure us of review and approval rights on all promotions?
Companies can partner on a wide range of marketing concepts to get mutually beneficial outcomes. Sometimes a small start can lead to long term fruitful relationships. Here are a few to consider:
- Advertising campaign
- Blog Article (short, educational content)
- Ebook (evergreen content)
- Infographic (visually impactful content)
- Video (how-to, background, etc. for use on YouTube, Facebook, blogs)
- Webinar (educational program designed for a live audience)
- Event Sponsorship (party at a conference or opening night)
Co-marketing and co-branding hold great potential for the furniture industry with the growth of themed and lifestyle oriented lines. Asking the right questions and setting guidelines upfront will ensure success. See our website for more ideas at www.imagineadv.com/our-work/promotions or give us a call at 866-832-3214 or email email@example.com.
Coming Late summer just in time for Back To School & Labor Day exclusively from Imagine, our partnership with Fox Studios.
Coming this spring exclusively from Imagine for RTO retailers.