Complementary Brands: Why and How to Leverage Them

For business owners, finding ways to carve out a greater share of the market can be a daunting task, especially if you feel like you’ve exhausted avenues that traditional marketing tactics rely upon. One tactic that I’ve always seen a lot of value in, especially for local brands, is seeking out opportunities to work with other local brands that have a similar target audience to you. One way to do this is by looking at complementary brands and finding ways to leverage one another’s audience – a form of co-branding.

What is a complementary brand?

A complementary brand is one whose product or service complements yours. Think, for instance, a donut shop and a coffee house. In some cases, the brand itself can be complementary. This is something that local businesses can take advantage of, especially in communities that strongly support their local business community. For instance, while a specialty pet store and a coffee shop’s products might not obviously complement one another’s, their brand might. Especially if that brand is built on being small, local and/or using only the highest quality inputs.

Why should I work with other brands?

First it’s important to remember that you both have similar goals: to grow your business. Every business owner is looking for opportunities to do just that and it just so happens that one of the best avenues to expose yourself to new customers without breaking the bank is through complementary brands.

As both of your brands have grown, you’ve likely garnered many of the same customers, but there is an untapped opportunity in those that you haven’t been able to get in front of, or who simply haven’t been convinced to give you a try.

For them, co-branding can be the act that tips the scale in your favor.

Trust is at the heart of all relationships. Without trust nothing else matters.

–Larry Light, CMO and Author

When they see a brand they trust, love and frequent showing love to another brand, they’re far more likely to give that brand a shot. Trust is a powerful force. As the great marketing sage Larry Light puts it, “Trust is at the heart of all relationships. Without trust nothing else matters.”

Leveraging the trust customers have for complementary brands is incredibly valuable in the effort to grow your brand.

How can I leverage my relationships with complementary brands?

Assuming you already have built relationships with complementary brands, there are countless strategies that could be utilized to make that relationship benefit both of you. Being friendly on social media is one great way to do it. Simply commenting on a post to congratulate them or to compliment their work is one of the most simple and inexpensive ways to do it.

Whatever strategy you choose, remember that trust is key. Make sure you work with brands you trust, because your customers will be counting on you to steer them in the right direction.

If you would like more information on how to leverage your brand for co-branded business relationships, or simply to grow your brand, please don’t hesitate to contact us!