12 ways to create explosions of value with a brand collaboration
Brand collaborations have long been a favoured way for businesses such as brewers to raise the profile of their beer and to reach out to new audiences. Recently, I’ve also seen this technique getting more play by fashion and cosmetic brands in the wider mainstream. Think L’Oreal X Balmain, for example, an edgier fashion couture house which is adding extra kick to the more established L’Oreal brand.
This got me thinking about ways in which other businesses could inject a little collaborative magic into their marketing strategy. With a little thought, I believe there is the potential to create mini explosions of value for your business with these cross-pollinating, turbo charging initiatives.
Here are my top 12 tips for powering up your business and brand ROI with an imaginative joint creation.
- Use the collaboration to find a more creative use for ingredients, resources, information or stock you have under utilised lately
- Create more value from a trip to another city or country by fitting in a collaborative project planning day with another business partner of interest you'd normally not have the opportunity to work with.
- Learn how to create a service or product you’re interested in adding to your core offering through a business collaboration
- Gen up on a techniques or try out equipment you’re thinking of investing in through your collaboration
- Lend credibility to promising up-and-coming brands as part of your community building or CSR strategy
- Create an opportunity to collaborate and then radiate in the light of a more successful brand!
- Partner up to create a promotional collaborative product or offer to support an event or exhibition you’re both participating in, helping you get lead billing during the event’s marketing campaign
- Raise awareness of a good cause with a collaborative project that echoes the brand values of both partners and gives you exposure with their target audience
- Introduce your brand to a new town or country audience through your collaboration
- Introduce your brand to a new type of customer through your collaboration
- Extend your social media reach by collaborating with a brand who is also active on Facebook, Twitter, Instagram etc.
- Showcase a new innovation you're developing by collaborating with a brand that can help you to demonstrate its benefits
If you are looking to harness the power of collaborations for your business in 2018, why not get in touch. Susanne Currid is available to act as a facilitator to help you plan and bring your new collaboration strategy to successful fruition.