What Is Brand-to-Brand Collaboration? 9 Tips to Help You Succeed
While there are no set rules for how brands should collaborate, these nine best practices are worth considering to make your partnership successful.
Brand-to-brand collaboration is a strategic marketing partnership in which two brands leverage their respective strengths for mutual benefit.
Brand-to-brand collaboration or cross-branding can be a great way to generate incremental revenue and enhance brand recognition.
Apart from the money-making aspect, there are often additional benefits to why brands collaborate.
Reach new customers in complementary markets.
Cross-promote existing products and services under each other's brand.
Create co-branded products and services to fill gaps in the offering.
Get noticed in a crowded market.
Increase brand credibility.
Grow social media followers.
Boost social media engagement.
Champion a joint cause.
Reinvigorate an established brand.
Participate in the latest trends.
Sometimes a partnership can tick off more than one box, especially if the two brands aren't equal. Think of an emerging brand collaborating with an established brand or an unknown brand teaming up with a well-known one.
The time horizon of the collaboration can also vary widely, ranging from short-term for a few newsletters to long-term for co-branded products and services.
9 Best Practices
While there are no set rules, in my experience, there are nine best practices for successful brand-to-brand collaboration worth considering:
Partner only with non-competing brands.
Focus on brands that share your values.
Look for brands that serve the same customer demographics.
Favor brands with similar objectives.
Understand your brand equity and what you are willing to contribute to this relationship.
Describe your goals and expectations from this partnership.
Remain flexible and open to negotiating.
Set measurable targets that can show your success.
Plan carefully, and don't rush.
The better the match between both brands, the easier it will be to collaborate, even if it's only for a short time at first. But maybe if you work well together and both brands achieve their stated goals, a brief collaboration can last longer than initially thought.
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