Trends or cultural moments are another way for brands to capitalize on a partnership. Maybe you’ve heard about NASA’s Artemis 3 moon mission scheduled for 2025. Its astronauts will be decked out in Prada-made designer gear, a quirky partnership that has received tons of media attention. While it’s unlikely that the average consumer will be wearing Prada-engineered suits, the world is still intrigued to see how these red, white and blue outfits will play out. Accordingly, both brands get their moment in the sun as they prepare for the moon.
As long as the audience accepts the relevance of a collab, both brands stand to gain. In addition to accessing each other’s audiences, brands can pool their insights and conceivably get twice the returns on the campaign with half the risk.
Best practices of brand partnerships
However extraordinary these collaborations can be, a brand union needs to be strategically planned to be successful. To bypass problems, first ensure target audience alignment. Brands that work together need to share audience characteristics to encourage participation, engagement and the desired call-to-action response.
Smart brand partnerships frequently also have limited runs. This creates a sense of FOMO, when people know the merch or event won’t be around forever and are more likely to participate in the experience. Sometimes, as with Peeps-flavored Pepsi, the collab may return later due to its initial success. However, audiences need to feel the urgency and exclusivity of the partnership to motivate them to take action.
The narrative around the brand collaboration must be as irresistible as the result. There’s no better place to test your storytelling abilities than when you’re introducing a brand collab. You need to show how and why the brands got together in the most compelling way possible. This is the time to be imaginative. Who would have thought that an influential rapper like Saweetie could send Hidden Valley Ranch Crocs to sold-out stardom? Her presence was the story thread that infused this promotion with synergy.
Niche collaboration takeaways
Collaborations aren’t for every brand or every day; they’re far more narrow in scope and typically shorter in length than their larger mainstream counterparts that have broad appeal. However, when they work, they work wonders to build strong emotional ties amid an authentic joining of companies.
Even if you’re not sure that your brand is ready to move forward with a smaller collab, don’t rule it out. You never know where it could take you. As long as you share values or target audience demographics with another brand, a matchup may not be as out of the question as it initially seems.
