If your clients are hesitant to launch a new marketing campaign because of the down market, you might be able to convince them to share the costs of a co-branding campaign. In February, Procter & Gamble began jointly advertising with The Limited. It’s no secret that laundry detergent is in the mature phase of its product life cycle and the apparel industry is struggling with slack sales. But the goal of this $60 million dollar campaign is to remind target consumers, in this case it’s women, that laundering clothes purchased at The Limited with Procter & Gamble detergents will provide the ultimate in ‘fashion care’. By branding these products in a campaign that targets female shoppers, the companies hope to increase sales while creating associations in the minds of consumers.
This strategy could work at the local level as well. Are there clients in your market that might consider co-branding campaigns? Some consumers might be swayed to enjoy coffee and cake at a dessert bar before they go to a movie to take a break from recession worries. Creating associations between and for your clients could boost sales for everyone involved.[Source: Company Release, Procter & Gamble, 2.23.09]