Brand collaborations, in recent times, have been known to enhance reach, meanwhile also opening doors to potential customers as it allows them to target two sets of customers rather than one. This marketing strategy, thereby, helps open new complementary markets besides enhancing market visibility. In a recent such scheme of things, realme India, one of the emerging smartphone brand in the android space, collaborated with Coca-Cola to launch the realme 10 Pro 5G edition.
“We have observed significant growth in recent years, as a result of user support and well-received, effective marketing campaigns,” Madhav Sheth, CEO – realme India, VP – realme, and president – realme international business group spoke with BrandWagon Online.
As per a recent report from Influencer.in, the influencer marketing industry’s value is estimated to reach Rs 2,200 crore by 2025, registering a compound annual growth rate of 25%, with a lower base of Rs 900 crore in 2021.
On being asked about the importance of collaborations with influencers and celebrities, Sheth said, “We have worked together with well-known influencers and celebrities to increase brand awareness. These partnerships have aided the brand in expanding its market reach and generating more curiosity about the products.”
He emphasised that these campaigns helped the company establish its brand image, which has contributed to its growth.
Explaining the idea behind partnering with Coca-Cola, a soft drink brand that many would find unusual for collaborating with a smartphone company, he said, “The idea behind its debut was to develop a special and distinctive product that appeals to the youth and resonates with their lifestyle.”
The company, which launched the smartphone with its ‘Cheers for Real’ campaign, believes that such campaigns help build brand equity in the long-term. “This collaboration will help us to reach a wider audience”, he noted.