How to Think About Collaborations
"Annalise Keating and Olivia Pope" and "Game of Thrones and Duolingo" can teach us a thing or two.
I like collaborations; they are a great way to increase brand awareness and reach new audiences. Collaborations provide many opportunities to explore and work together, allowing brands to leverage each other's success. When I think of collaborations, I am reminded of the cross-over episode in "How to Get Away with Murder," where Olivia Pope from "Scandal" teamed up with Annalise Keating in a class action. Seeing two powerhouses stand for black people who had been wrongfully incarcerated was inspiring. According to a review by "Den of Geek," "Both women must negotiate parts of themselves to make this union meaningful, or a large swath of incarcerated minorities will continue to waste away in prison." This applies to all kinds of collaborations, brands must have a meeting of minds for collaborations to be successful.
Of course, collaborations aren't just for television shows. Brands of all sizes can benefit from working together if they approach the collaboration with a clear set of goals and a willingness to work together. When planning a collaboration, it's important to ensure that the values of both brands are aligned and that each party brings something unique and valuable to the table. By joining forces, two or more brands can create a synergy that is greater than the sum of its parts, allowing them to tap into new markets and build credibility with new audiences. One of the reasons I love collaborations so much is that they offer many opportunities for creativity and innovation. When two brands come together to work on a project, they can bring their unique perspectives and expertise to the table, creating something truly unique and dynamic.
This approach was exemplified by the collaboration between Asa and Cavemen on a track where both artists recognized that they had a shared audience and unique sounds. They delivered an excellent piece of work that appealed to their audience. This same approach should guide the thinking of any brand looking to collaborate. Collaboration can be a strong driver for growth, but without proper planning and execution, it can fall flat and have negative consequences for both businesses involved.
Here are a few things to consider when planning a collaboration:
Clearly define your goals and objectives: First, identify why you want to collaborate and what you hope to achieve. Are you looking to increase brand awareness, drive sales, or reach a new audience? Whatever it is, defining your goals will help you identify and streamline potential collaborators, as well as choose how best to approach the partnership.
Identify compatible brands: Look for complementary brands with shared values, audiences, and product offerings that complement your own. For example, Dominos and Cold Stone have positioned themselves in a way that their brand identities are almost fused into one, allowing one brand to leverage the success of the other, especially in areas where they may be lacking. It's also important to ensure that your vision and that of the potential partner are well aligned and that your messaging will resonate with their audience and vice versa. Don't hyper-focus on numbers when approaching partnerships, as this can often lead to partnering with brands or people whose audiences are vastly different from your target. A large following does not guarantee that a person is positioned to advocate for your brand. Consider other factors, such as the buying power and interests of their audience, their values and how well they align with your brand. Keeping all of these factors in mind will help ensure that you reach the right people and achieve your goals.
Develop a clear value proposition: Once you've identified potential partners, develop a clear value proposition that outlines how the partnership will benefit both parties. Consider what unique value you can offer the potential partner and what they can offer you in return. This could include access to a new audience, increased brand awareness, or the opportunity to collaborate on a new product or service. By developing a clear value proposition, you can ensure that both parties are invested in the success of the partnership and that there is a clear understanding of what role each party will play.
Set guidelines and terms of collaboration: Setting clear guidelines and terms of collaboration is essential for any successful partnership. By defining the scope of the partnership, establishing roles and responsibilities, and outlining rules for communication and decision-making, both brands can ensure that they are working towards the same goals and that the partnership is mutually beneficial. Additionally, having a shared understanding of what success means for the partnership can help guide your decision-making and keep both parties accountable. On the other hand, failing to establish clear guidelines and terms of collaboration can put your brand at risk of eroding brand integrity, as any missteps or misunderstandings can quickly tarnish the reputation of both brands involved. Therefore, it is essential to take the time to carefully consider and document the terms of the partnership before moving forward with any collaborative efforts.
Define what success means to you. Finally, it's important to measure the success of the partnership so that you can determine whether or not it was a good investment of time and resources. This includes tracking metrics such as website traffic, social media engagement, and sales to determine the impact of the collaboration on your brand. By approaching marketing collaborations strategically and thoughtfully, brands can achieve their marketing goals while building valuable relationships with other businesses in their industry.
Collaboration can be a very effective strategy to drive growth. For instance, HBO Max collaborated with Duolingo to introduce a new High-Valyrian module that connects fans to the world of Westeros by learning the language. This was a well-thought-out and well-executed idea, as they were able to leverage the excitement and anticipation for the new spin-off series. The success of this collaboration is demonstrated in the numbers. According to Duolingo, since launching the partnership in August 2020, there has been a 200% increase in the number of HBO users who have started using Duolingo for language learning. In addition, HBO has seen a 50% increase in subscribers who watch international content since the partnership began. This shows that by approaching marketing collaborations strategically and thoughtfully, brands can achieve their marketing goals while also building valuable relationships with other businesses in their industry.
Finally, there is no hard and fast rule when it comes to approaching collaborations; in some cases, even the most unlikely brands or even competing brands collaborate and achieve success. So, don't be afraid to think outside the box when it comes to collaborations. Sometimes the most unexpected collaborations result in the greatest success.
Ultimately, knowing your audience and keeping your brand values at the forefront of your decisions is important. That way, you can rest assured that your collaborative efforts will yield results. By keeping your audience and brand values in mind, you can create a unique and effective.
That’s all for this week! Thank you for reading The Final Draft.
I would like to hear your thoughts on how brands should approach collaborations.
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