Use of Tie-Ups Across Businesses
When Spotify and Uber partnered in 2014 to offer in-car music streaming for the riders, everyone claimed it to be a marketing gimmick. But the alliance was simply too powerful to ignore. Imagine hailing a taxi and playing your favorite tunes during the ride, as you would in your own car. This personalization of the riding experience gave Uber a hard-to-beat competitive edge in the market, while both the parties benefitted from the other's audience reach. Today, Uber generates over $6.1 billion every year ; all because of a strategic partnership with Spotify, among many other brands like Trulia, Virgin America, etc. Closer to home, CRED's commercial starring Rahul Dravid (a personal brand in his own right!) as the " Indranagar ka Gunda" single-handedly exposed the brand to country-wide prospects. That's mass brand awareness done right. The lesson? You cannot take your business to the top of the mountain alone. After all, like humans, no business is an island...