THE JUMP: Red Bull and GoPro teamed up for this SKY HIGH marketing stunt!

FROM THE DESK OF MILES EVERSON: There is strength in numbers. So why not open your brand to a wide range of collaboration opportunities with other brands? There’s so much you can do by teaming up rather than doing things on your own. Today’s topic is a testimony to that. Keep reading to learn how co-branding helped these two extremely different companies achieve their business goals. CEO, MBO Partners Chairman of the Advisory Board, The I Institute

THE JUMP: Red Bull and GoPro teamed up for this SKY HIGH marketing stunt! In a world of competitive marketing, collaboration has become a great alternative approach. Nowadays, more brands and businesses are working together to create engaging campaigns that get people excited! What kind of marketing strategy is this? CO-BRANDING — When two or more brands collaborate on a product, service, or marketing campaign The goal of the brands involved is to reach a wider audience by utilizing the existing following each of them have. They can collaborate on different things like products, promos, marketing gimmicks, or even events. While the market has become highly saturated and competitive over the years, people in the marketing industry have been creative and innovative. Digital marketing has also made this easier to accomplish. Other than a faster and efficient communication between collaborators online, audiences of various demographics are also easier to reach. Red Bull and GoPro’s Exciting Collaboration Red Bull = Energy drinks that give you the boost you need. GoPro = Small and durable HD cameras to bring everywhere that capture all your active and adventurous moments. The two brands offer entirely different products but… …they both promote living an EXTREME lifestyle! They are all about living life to the fullest and taking everything to the next level— evident in the many partnerships they have with extreme sports athletes and brands. In Red Bull’s case, owning a number of sports teams! It just made sense that both brands collaborated to create one of the most ambitious and spectacular marketing campaigns in history! Yup. History. => The Stratos Project in 2012 This project centered around daredevil Felix Baumgartner’s attempt to do the world’s highest freefall dive. If there was one event that captures Red Bull and GoPro’s spirit of taking things to the extreme, this jump from the edge of the atmosphere has to be it! Red Bull’s branding and logo were all over Baumgarner’s space suit. And what did they use to capture footage of this historic event? GoPro cameras of course! The whole thing was broadcasted through livestream across various social media and streaming platforms for maximum coverage. The historic jump was successfully executed and set 3 Guinness World Records! Maximum Vertical Speed – 1,357.6 km/h Highest Exit (Jump) Altitude – 38,969.4 m Highest Vertical Distance for a Freefall – 36,402.6 m This would go down in history as one of the most amazing marketing stunts in the industry. It was one of the most watched events of the year with over 8 million concurrent views on YouTube livestream alone, and 52 million views across 280 digital partners! The campaign also won a Sports Emmy. GoPro released a commercial version of the event on Super Bowl XLVIII, giving viewers a much closer look at how it all happened! There was definitely a lot of buzz in all types of promotional platforms. People from all over the world were talking about Red Bull and GoPro, both in person and online. In the end, the whole project proved to be one of the highest factors of growth for both brands, Red Bull had a 7% increase in sales in the next 6 months, and GoPro generated USD 32.26 million in profit by the end of the year. Why does co-branding work? It increases both sales AND promotional reach. It does wonders for your marketing, especially online. You can expand your online presence and boost your SEO rankings. Larger social media presence – Utilize the social media platforms of both brands! You can hype up your campaign and get everyone talking. You’ll also have more engagement with a wider target audience.   Collaborative content and link building – This strategy is great for content marketing too! Create a range of engaging images and videos, or write blog posts and articles that talk about all you need to know about your latest collaboration. Link building can be used to direct readers to each other’s content. It brings in more traffic and helps a lot more people discover your brand.   Boost brand awareness – Help people FIND YOU. With a strong campaign, you can turn your brand into the talk of the town!, Co-branding helps lesser known brands reach more people and have a bigger following. It would increase their value and help their business grow.The potential of what one can achieve with the help of another is massive. Today’s example showed that collaboration can bring out great results. Red Bull and GoPro proved that two brands can achieve so many things by working together. Two (or more) great minds are always better than one! If you are looking for a fresh take on your brand’s marketing and promotional strategies, working with another brand might be what you need to reach more people and change things up. Hope you’ve found this week’s insights interesting and helpful. Follow us on LinkedIn. Stay tuned for next Friday’s Collaborate and Innovate! There are many ways to expand the reach of your business. Learn more about branded podcasts and how they can help your business deliver exciting content on next week’s Collaborate and Innovate!