Best for: Brands that have connections to very high profile influencers, and brands with limited money for upfront influencer marketing costs, but are actively launching new products
Minimum Budget to Get Started: $0 + royalty fee paid to influencer for each co-branded product sold + possible advance paid up front
For those brands creating new products on a regular basis, co-branding your products can help with sales and conversions. To create co-branded products, you’ll need to partner with an influencer to create products that are personalized for the influencer, but still represent your brand well.
When selecting an influencer for creating co-branded content:
Macro-influencers are preferred because they will have greater name recognition. However, it is still important to evaluate these influencers like any other influencer you work with.
It’s important to work with an influencer who posts cohesively with your brand’s aesthetic, so that both the influencer and the brand can contribute their aesthetic without running into clashing aesthetics.
You will need a contract to establish the parameters of the partnership.
Some co-branded items work on a royalty system, where the influencer will only get a commission when the product sells, which allows you to get started without investing upfront into influencer payments. However, it is typical for the influencer to ask for an advance so that they get a bulk payment at the beginning to help cover the time and costs associated with developing the projects, then receive a royalty once that initial advance has been covered.
You will also want to establish what the influencer’s responsibilities are for marketing the product. You’ll want a written statement allowing you to use the influencer’s images and name with your own advertising, and you’ll want to request a certain number of assets from the influencer in order to market the product — lifestyle shots of the influencer and the product, Instagram posts, YouTube announcements, etc.
You may also want to specify how you will pay royalties in the event that the item is clearanced or discontinued.
Co-branded products are a way for your brand to work even closer with an influencer to promote sales. Co-branded products also allows the influencer to infuse their own aesthetic and message into your brand’s product line, which could give your product line a unique boost.
Co-branded products can also be created with other brands to help spread the word about both brands. This works especially well when both brands have similar values and aesthetics.
Corkcicle and Rifle Paper Co. partnered together for a product line that benefited both brands.