The Power of Partnership
Here at littleBIG we’re always talking about the importance of true partnership – we see ourselves as extension of our clients’ marketing teams.
Today I’m talking about a different type of partnership – brand partnerships (also known as brand collaborations, if you want to be more “buzz wordy”).
A brand partnership can be a great marketing tactic to use, particularly when working with limited resources, or undertaking a brand positioning/ repositioning. It sees you partner with a brand or a sponsorship property that has a complementary brand and/or product values.
Like wine and cheese, like salt and vinegar, Netflix and chill – YASSS! You might also have a similar audience and/ or distribution channels.
So what are some of the benefits of brand partnerships as a tool in your marketing strategy?
- Greater awareness and reach, for a lower cost, by tapping into each other’s audiences
- Reduced marketing costs, by sharing the spend and leveraging each other’s assets
- Changing existing brand perceptions (eg luxury or accessible – in the case of Missoni x Target)
- Access to new audiences and channels
- The ability to solve customer problems or barriers to purchase
- Exciting new creative ideas and campaigns, opportunities for PR
- Access to new sales or distribution channels
Some of the more famous partnerships you might be inspired by include – Apple and Nike, Red Bull and Go Pro, Stella McCartney & Adidas, Chandon & Sea Folly, Go To Skincare and Kester Black.
Closer to home, littleBIG is enjoying working on some amazing collaborations –
- A Preston Market / Melbourne Food & Wine Festival event that cements Preston market’s repositioning to a foodie hotspot;
- Our client Innocent Bystander is partnering with Circus Oz to bring together Melbourne’s famous arts, food and wine culture;
- Wizz Fizz cementing its reputation as Australia’s best-loved party bag filler in their collaboration with the pop-up sweets experience Sugar Republic
- QVM and Air Canada joined forces to bring a unique experience to the market with a Canadian style ice rink in the middle of summer
- Moments and Cosmo stand up comedy & cocktail night a Uni O Week’s, designed to empower women to look after their sexual health
While you might not feel ready to commit on such a large scale to a brand partnership in your marketing planning, social media is a measurable way to dip your toe in the water when it comes to brand partnerships or collaborations. It might be in form of a guest post, an insta take over, or a competition.
Tell us, who would you like to collaborate with?