Co-Marketing: How to Utilize Specialty Features to Build Your Brand
By Mercedita Roxas-Murray EVP Strategy/Brand Planning & Operations, RedPeg Marketing | October 27, 2013
According to Deloitte's forecast on hospitality trends in 2013(1), the hospitality sector will face the need for strategic considerations due to heightened competition and the pressing need for brand differentiation. This is evident in the ever-changing landscape of hotel marketing. Hotel marketing is driving outreach to their current customer base and prospect opportunities through loyalty programs, traditional advertising, experiential and now more than ever, co-marketing.
Co-marketing, not to be mistaken for co-branding is "the opportunity for two brands to work together on promotional efforts with a co-branded offer. In a co-marketing partnership, both companies promote a piece of content or a product, and share results of that promotion with each other. Whereas co-branding is separate companies combining their products together to create an even more valuable product."(2)
- Co-marketing: Pepsi and Frito Lay Superbowl promotion
- Co-branding: Betty Crocker and Hershey's new treats that combine the two products into a new product
Common examples of co-marketing in hotels typically revolve around specialty features like a restaurant, spa, bar or other form of hotel amenity that is a brand unto its own. That brand and the hotel brand have the ability to engage each others' separate customer base through joint support of a marketing campaign or tool.
Co-marketing campaigns create positive and successful results for each brand if:(3)