When it comes to marketing and brand partnerships, tie-in agreements are a common strategy used to increase exposure and reach for both parties involved. These agreements involve two companies collaborating to create a joint marketing campaign or product that will benefit both brands.
Tie-in agreements can take many forms, depending on the nature of the partnership and the goals of each company. Here are a few examples of tie-in agreements that have been successful in recent years.
1. McDonald`s and Disney
One of the most famous tie-in agreements of all time is the collaboration between McDonald`s and Disney. For many years, McDonald`s included toys and other promotional items based on popular Disney movies in their Happy Meals. This strategy was a win-win for both companies; McDonald`s saw increased sales from families who wanted the toys, and Disney received valuable exposure for their movies.
2. Nike and Apple
Nike and Apple partnered to create the Nike+ system, which allows runners to track their progress using a sensor in their shoes and an app on their iPhone. This tie-in agreement was successful because it appealed to both companies` target audiences – runners who were tech-savvy and interested in fitness.
3. GoPro and Red Bull
GoPro and Red Bull have a long-standing tie-in agreement that involves creating extreme sports videos using GoPro cameras. Red Bull sponsors extreme sports events and athletes, and GoPro provides the cameras to capture the action. This partnership has been successful because it allows both companies to showcase their products in a high-energy, exciting context.
4. Coca-Cola and the Olympics
Coca-Cola has been an official sponsor of the Olympics for many years, and their tie-in agreement involves creating limited-edition Olympic-themed cans and bottles. This strategy allows Coca-Cola to tap into the excitement and patriotism surrounding the Olympics, while also promoting their brand to a global audience.
5. Target and Lilly Pulitzer
In 2015, Target partnered with fashion brand Lilly Pulitzer to create a limited-edition clothing line. This tie-in agreement was successful because it allowed Target to offer high-end fashion at an affordable price point, while also giving Lilly Pulitzer exposure to a broader audience.
These are just a few examples of successful tie-in agreements that have been used in recent years. When done correctly, a tie-in agreement can be a highly effective strategy for increasing exposure and reaching new audiences.