A brand collaboration is a powerful alliance where two or more businesses join forces to create a unique experience, product, or service aimed at achieving a shared goal. These partnerships leverage each brand’s strengths and customer bases to boost sales, enhance brand awareness, and expand their reach to new audiences.
Think of a brand collaboration as a collaborative project. Each business contributes its resources, audience reach, and creativity to co-create products, campaigns, or activations. These partnerships are often facilitated by influencer marketing or direct collaborations between businesses through co-marketing or co-branding efforts.
Influencer marketing campaigns are a common form of brand collaboration. They harness a creator’s influence and personal brand to promote products or services. Influencers often resonate with a brand’s target audience or bring credibility to a new segment the brand aims to reach.
You can collaborate with other businesses through product collaboration, also known as co-branding, which involves creating a new product or service together. For example, e.l.f. and Dunkin’ teamed up to launch a donut-inspired makeup line, blending the unique strengths of both brands.
Co-marketing is another effective strategy. It leverages each company’s reputation and customer base to introduce the brand to a new audience, driving additional revenue and awareness. This approach is particularly effective for brands that aren’t direct competitors but share an overlapping audience or industry. A prime example is the ongoing partnership between GoPro and Red Bull, which cross-promotes each other’s events, combining GoPro’s appeal to athletes and adventurers with Red Bull’s energetic brand.
Deciding how to partner with brands can be challenging. Here are some strategies to help you find the right partners for your brand collaborations:
Start by identifying your goals, whether they are increasing sales, enhancing brand awareness, or expanding your reach. Connect with complementary partners within your industry or target audience. For influencer marketing campaigns, use the Five Ws + H framework to measure ROI and plan effectively across the customer journey.
Focus on commonalities with potential partners. Identify what your audiences associate with your brands and consider going bolder than you would on a solo campaign. The perfect partnership might revolve around shared interests, the emotions your product evokes, or the priorities of your target market. For example, Dunkin’ and e.l.f. had common market segments they tackled together.
Social media is an excellent barometer for gauging your audience’s interest in potential co-branded activations or products. Through social listening, determine which aspects of a collaboration to emphasize and which to discard. Consider teasing a collaboration with an interested brand and observe your audience’s response.
Brand collaborations offer numerous benefits:
1. Reach New Audiences: Partnering with a company that has an established customer base enables your brand to connect with new demographics, such as Millennials or Gen Z.
2. Generate Buzz and Improve Revenue: Limited edition products or collections from favorite brands create excitement, generate demand, and increase sales.
3. Marketing Resource Sharing: Collaborations are cost-effective as resources are shared between partners, saving costs and providing access to more talent across teams.
4. Leverage Another Brand’s Strengths: Each brand brings unique strengths to the table. Capitalizing on these strengths helps all parties achieve their goals. For instance, a brand with an excellent product team but a small creative team can benefit from collaborating with a company known for its originality and innovation.
Google Pixel, the official fan phone of the NBA and WNBA, launched a season-long campaign titled “Built Different” during the NBA opening games. The campaign features content creator and comedian Druski in a series of vignettes with athletes and sportscasters like Jimmy Butler, Flau’jae Johnson, Giannis Antetokounmpo, Ernie Johnson Jr., and Taylor Rooks.
Druski is renowned for his social media skits, Instagram Live sessions, and parody music label, Coulda Been Records. His relatable content often features star-studded appearances from celebrities like Drake or Jack Harlow. Recently, he launched his sports agency, 4Lifers.
Why the Partnership Works: Druski’s audience and his connection to the sports and entertainment industry make the partnership with the NBA authentic and fresh, appealing to both athletes and fans.
Teamwork truly makes the dream work. Strategic brand collaborations can unlock new opportunities, expand your reach, and drive growth. By identifying your goals, seeking complementary partners, and leveraging each brand’s strengths, you can create impactful collaborations that resonate with your audience and achieve your objectives.
Ready to explore brand collaborations? Start identifying potential partners and brainstorming creative ways to combine your strengths for mutually beneficial partnerships. Your next successful collaboration is just around the corner.
