Perhaps you have already seen the television advertisement that blends both Geico Insurance and Helzberg Diamonds (a retail jewelry store chain). At first nod, these seem like an odd duo to pair up in a promotional effort. However, upon a bit deeper review, a connection between the firms comes into focus.
The Berkshire Hathaway connection
Both firms are part of the holdings of Warren Buffett's Berkshire Hathaway.
Properly done, joint advertising can make a great deal of sense by stretching promotional budgets in this time when companies are seeking greater productivity in operations, manufacturing, and now advertising.
Characteristics of potential co-op promotional partners
The cooperating firms:
- are not in the same industry (except for special circumstances like public service announcements, support of causes and events, etc.).
- seek similar customers.
- are willing to have the other's brand image "rub off" on to their own.
2 comments:
What about the [possibly unwitting] Budweiser connection? Would that change the analysis at all? (The song that the gecko hummed at the end is a clear reference to the old Budweiser commercials with frogs.)
I can understand the GEICO-Helzberg connection and am surprised that more companies haven't done similar. It's a great way to use ad money, making people look twice at an ad in the times of DVR/TiVo/pre-recorded TV when commercials usually get passed by. However, the humming at the end seems so incongruous and seemingly odd for a well thought-out ad scheme.
Knew there was a deeper connection. Thanks for the info.
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