Understanding Brand Collaboration: A Beginner’s Guide
Brand collaboration is a strategic partnership between brands aimed at creating a buzz around a product or service. It involves a specific campaign, promotion, or advertisement to reach new audiences and leave a lasting impression on consumers.
The Benefits of Brand Collaboration
Brand collaborations offer unique advantages that traditional forms of marketing usually don’t, such as facilitating a crossover between the audiences of the participating brands, expanding the usability of the product or service, and increasing the overall effect of marketing campaigns.
Types of Brand Collaborations
Common types of brand collaborations include joint marketing campaigns, influencer campaigns, event partnerships, co-creating and co-branding, and licensing and patenting.
Successful Examples of Brand Collaborations
Successful examples of brand collaborations include McDonald’s and Coca-Cola, Michael Jordan and Nike, Red Bull and extreme sports, Adidas and Parley for the Oceans, and Disney and Star Wars. Even the competitive “Cola Wars” between Coca-Cola and PepsiCo have produced some of the most brilliant marketing and advertising moments in history.
Considerations for Brand Collaboration
If you’re considering a brand collaboration, it’s important to ensure the partnership will benefit your brand and there is a mutual benefit for all parties involved.
Learning from successful brand collaborations can help businesses find the right partnership that benefits their own company as well as their collaborator.