3 Pros and cons to co-branded experiences
I’ve worked with many leading firms to co-brand and market experiential events and outreach. Co-branding can be a great strategy to reach new audiences and make a bigger impact!
1. Reduces your financial commitment- splitting the bill is always an attractive option
2. Broadens your target audience- combining multiple prospect lists may bring on new, profitable, attendees
3. Increases exposure- media attention loves multiple brands and a bigger splash
Now you’re thinking this sounds great!! When do we start? However there are some pitfalls to avoid. Think through the following before plunging ahead.
1. Combining priorities- Who is in charge? Make sure everyone agrees on the goals and what resources are required to achieve them (planning time, budget, staff, etc.)
2. Sharing information can be touchy. Is your prospect list proprietary? How will you share leads after the event? How will your sales teams work together during the event?
3. Bigger might also mean MORE expensive. Hosting more attendees can bring bigger expectations which mean more security, more food, and more funds.
Yes, co-branding can bring on a lot of unanticipated issues. However an outside producer can provide the right plan, diffuse conflicts of interest between co-hosts and make it the best experience for both you and your attendees.
If you’re considering co-branding your next event, shoot me a message today! Lets talk through your ideas and make it happen.