So what exactly is a brand partnership? We define it as a strategic collaboration of brands, so that they can achieve marketing synergy. When done well, a good partnership can be used to reach engaged audiences within another brand’s passionate community. But first, marketers must evaluate audience overlap and market opportunity to reduce risk and increase the value of partnerships.
In this post, we explore how to use audience data to help identify key brand partnership opportunities.
Auto Brands: The Race to GoPro
As user generated content has taken off over the past couple of years, GoPro has strategically positioned themselves as THE go-to-medium for video marketing. Their partnership with Red Bull is a prime example of successful cross-promotion and product innovation, bringing consumers a unique point of view into Red Bull’s extreme sporting events.
But how successful have their other partnerships been?
GoPro had signed a partnership with Ford to run the video series campaign, ‘Unstoppable Life’, in June 2016. A way to track this campaign’s effectiveness is to understand the brand’s audience overlap, compared to Ford’s competitors.
One month before the campaign (leading up to the 18th June), GoPro’s audience was actually most likely to visit Toyota’s website, followed by Ford and Volkswagen (which were all over-indexed compared to the standard online population).
In the one month after the video campaign (leading up to the 23rd July), Ford saw a significant rise from GoPro’s audience (from 188% to 254% index). This crossover had overtaken the likes of Toyota, Volkswagen and Hyundai.
However, when we look at the more recent months (such as February 2017), this rise in overlap was short lived for GoPro and Ford. Toyota and Volkswagen again shows greater share.
Particularly as the automotive market sets to toughen over 2017, GoPro and Ford could look to relaunch a more sustained partnership campaign.
To learn more on how you can increase the value of your partnerships, download the full report here: Audience Segmentation Report
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