Collaborating with a brand can be an impactful marketing strategy, so we’ll be looking at some of the best brand collaborations and how they got it right. Even though it’s a risky and potentially costly strategy, successful brand collaborations can be powerful and lucrative for both of the brands involved.
We’ll look at what brand collaborations are, the benefits and risks of collaborations before highlighting some of the best collaborations that we handpicked for this blog.
What Are Brand Collaborations?
A brand collaboration is when two or more brands come together to create a campaign that benefits both brands equally. The collaboration can also involve the two brands creating a product, or rolling out a service together.
This allows the brands involved to maximise their exposure together rather than rolling out separate campaigns on their own. It’s also a strategic marketing tactic that allows the brands involved to benefit from each other’s brand establishment, exposure and identity.
Often brands that collaborate together aren’t direct competitors. Instead, they are brands that share the same target audiences, but might sell different products/services. The brand collaboration allows them to amplify their marketing with the power of their brands together, rather than having separate campaigns that might not have the same level of impact.
For example, you might have two brands that sell completely different products, but they both target affluent women aged between 25-35. These two brands decide to do a brand collaboration where they create a physical pop-up selling a new product produced specifically for this campaign. They encourage the women who come to the pop-up to post on their social channels, increasing brand exposure organically from their target market.
Although these two brands could have organised a new product and pop-up on their own, the impact that brand collaborations have can sometimes vastly out-perform singular campaigns.