180 experts in the marketing and branding field attended the event to explore how brand collaborations can boost growth and relevance in a constantly evolving market.
The Branding Observatory celebrated its 12th edition in Madrid, strengthening its position as a leading event for marketing and branding professionals. This event is organised annually by the Spanish Marketing Association (AMKT), the Leading Brands of Spain Forum (FMRE), GfK – An NIQ Company, PONS IP and Summa Branding.
This year the central theme was brand collaboration, which is a key strategy in the current arena for brands seeking to be relevant and connect with new audiences. Professionals from companies such as Acciona, Corporación Hijos de Rivera, Vocento, Summa and GfK – An NIQ Company discussed the challenges that these partnerships face and the opportunities they provide, highlighting their ability to generate value and connect on a deeper level with consumers.
The event was led by Félix Muñoz, a professor and Marketing consultant, who welcomed attendees and stressed the importance of these types of gathering to reflect on the trends and new dynamics between brands and consumers.
This was followed by José Luis Arbeo, director general of AMKT, who emphasised the need for brands to adapt to the fast moving market, highlighting that collaboration has become one of the main factors to remaining relevant in a constantly changing environment. Arbeo also noted the wish for the Branding Observatory to “continue strengthening its position as a leading event in the sector”.
Key aspects to cobranding: the challenge of planning
The first to speak was Javier Gómez Mora, Head of Brand & Customer Experience at GfK – An NIQ Company. His presentation titled ‘Challenging boundaries: the keys to success in brand collaboration’ highlighted the fact that cobranding is one of the main determining factors in the development of the advertising sector in recent years. Based on a study performed with a panel of 112 Marketing directors, Gómez Mora revealed that in Spain 15% of marketing budgets are set aside for brand collaborations, the main aim being to strengthen the brand (61%) and increase sales (55%).
However, one of the most surprising figures was that “39% of companies don’t do any short- or long-term planning for this type of action”. This lack of strategy directly impacts on the effectiveness of collaborations since “63% of cobranding partnerships in our country don’t reach their objectives”. According to the interviewed CMOs, this occurs due to the lack of audience analysis and segmentation before starting a collaboration.
Merging DNA to stand out on the market
The day continued with, Rafa Soto, Head of Creative and Experience at Summa, and his presentation titles ‘Merging DNA. The new path to relevance’ in which he outlined how brands can create relevance by integrating their identities. Soto explained that when brands collaborate, they must find more than a simple product alignment, and affirmed that “it’s increasingly difficult for brands to surprise us”. However, by merging their mythology and values, they can conquer territories that they would otherwise not be able to access.
He gave the example of the collaboration between Nike and Lego, who created an Air Jordan collection with a design the merged the style of both brands, or Bentley and Macallan, who created a 50,000 dollar whisky. For Soto, this type of partnership reaches both current and new audiences, and allows brands to express themselves through dialogue with other brands.
Dialogue with brands: Vocento, Acciona and Corporación Hijos de Rivera
The event also provided an interview space for a panel of experts, which included the participation of representatives from renowned Spanish companies. Emma Tavila Pérez, director of Asesoría Jurídica de Vocento, spoke with Ana López de Castro, Director of Marketing, Culture and People at PONS IP, about the legal challenges that arise in brand collaborations, especially in the digital environment. Tavila Pérez highlighted that “the importance of intangible assets is essential” for creating new formats and diversifying business. Likewise, she noted the importance of having multidisciplinary teams to reach the collaboration objectives.
Rafael Rodríguez Gallardo, director of Innovation in Marketing at Acciona, also spoke with Tamara Pirojkova, Marketing director at FMRE, about the success of the collaboration between Accion and El Ganso in creating sustainable shoes made from recycled wind turbine blades. This partnership not only allowed innovation in the product, but also strengthened the positioning of both brands with regards to sustainability, despite having different strategic objectives. “We don’t make shoes, so we needed to find a highly-respected partner whose values matched ours in order to be able to implement the idea. El Ganso had everything that we were looking for”, explained Rodríguez Gallardo.
Lastly, José Cabanas, Chief Marketing Officer at Corporación Hijos de Rivera, spoke with José Luis Arbeo. Cabanas emphasised the importance of authenticity in any brand collaboration. “It’s essential to have a ‘challenger’ mentality and to be very transparent”, he said, in reference to how brands must be clear about their objectives and values before starting a collaboration. Cabanas also explained how Estrella Galicia, a brand belonging to Hijos de Rivera, is developing towards an agri-food corporation, but without losing its familiar brand essence.
The event ended with a networking cocktail where participants had the opportunity to share thoughts and delve deeper into the ideas discussed throughout the day.
Our next get together is on 22 October in Barcelona. Telefónica’s Torre Diagonal One will host the Catalan capital’s edition, with the participation of brands such as Mango, Tea Shop, Arpa EMC and Telefónica.