Marketing Made Simple #14

The quest for the perfect (business) partner [Part 1]   

Bonjour, Hello,

Welcome back to Marketing Made Simple!

To be honest, when I sat down to write this newsletter, I wasn’t quite sure where to start. But that’s the funny thing about inspiration, you never know where it’s going to take you. As the ideas began to flow, I realized that this topic is too vast for just one edition.

So, consider this Part I of a series where we delve into the world of collaboration. Today, we’ll explore the ‘what.’ Next week, in Part II, we’ll dive into the ‘how-to.’

TLDR (key takeaways)

• Collaboration is a powerful strategy for enhancing visibility and reaching new audiences. 
• It can take various forms, from simple cross-promotions to co-creating offers and running joint marketing campaigns. 
• The cost of collaboration varies, with options like barter deals, product seeding, and paid influencer campaigns. 
• Reflection question: Have you ever considered collaboration as a means to enhance your brand’s visibility? If not, what’s holding you back?

What is a collaboration?

A fantastic approach to increasing your visibility is by collaborating with another brand. It’s essential that this brand shares your values and goals. The key here is to create a synergy between both brands. This way, you can tap into each other’s audiences and make a more substantial impact. Collaborating also allows you to share resources, cut costs, distribute work, and engage in cross-promotion.

To put it into a nutshell (I learnt that expression in middle school in France and never used it since!), in a successful collaboration, everyone comes out as a winner.

What kind of collaboration?

Let your creativity shine! Collaboration can take many forms, whether online or offline.

It can be as simple as cross-promotions, where you guest on each other’s social media platforms. For instance, if you run a fitness brand, collaborate with a nutritionist to host an Instagram Live session discussing healthy living tips.

You can create an event together, such as a virtual summit where various experts come together to share their knowledge.

Consider organizing local workshops or in-person events where you partner with local businesses. For example, if you run a yoga studio, collaborate with a nearby coffeeshop to host wellness workshops.

Or it can be as big as co-creating an offer and running a joint marketing campaign. Imagine teaming up with other sustainable clothing brands to create an eco-friendly collection and then launching a promotional campaign together. You can even explore co-branded products, such as partnering with a local spa or hotel to create an exclusive line of products available in their shops.

The possibilities are endless!

What about costs?

The big question: Do you have to pay? The answer? It depends! The cost of collaboration depends on what you bring to the table.

Personally, I like barter deals. Once upon a time, I worked for a media company in Paris, and we partnered with an airline. We exchanged a certain number of flight tickets (that we used for giveaways or business trips) for radio, TV, and online advertising. It turned out to be a sweet deal!

Now, let’s take a look at the world of influencer marketing. Here, you’ll often find two main models: product seeding and paid contracts.

Product seeding means you provide your products as gifts to influencers. Essentially, you’re inviting them to explore what you offer. This approach comes with a more relaxed atmosphere – you’re not pressuring them to promote your product. However, it’s worth noting that it’s less structured, and there’s no guarantee. So, building a strong relationship with influencers is essential.

On the flip side, there are paid influencer campaigns. You make a deal with the influencer. When the contract is signed, the influencer has to show you the content before sharing it, and they must post it on the agreed date. It’s a more structured partnership.

So, the answer to the cost question in collaboration is: it varies. But the good news is there are versatile options to suit different situations and budgets.

Reflection questions of the week

• What type of collaboration do you feel comfortable with? 
• Have you already identified brands that you would like to work with?

That’s a wrap for today! Got queries or thoughts? Reach me at hello@jconsulting.solutions.