WHY PARTNERSHIPS ARE KEY TO BUILDING YOUR CREATIVE BUSINESS
No one person is an island, and likewise no business can succeed in isolation. Sure, you may be the sole creator, brainpower and decision-maker of your own business, but at some point you’re going to need outside help to make your business grow. One of the most cost-effective ways to boost your business is through collaboration with other brands. Let’s take a moment to talk about why partnerships are key to building your brand.
WHY PARTNERSHIPS ARE KEY TO BUILDING YOUR CREATIVE BUSINESS
WHY SHOULD I COLLABORATE WITH OTHER BUSINESSES?
Good things happen when creative minds come together. When you work with other businesses you can promote each other’s products or create something new altogether, tap into each other’s audiences to increase traffic and reach, and share ideas, skills and experience to come up with marketing strategies to make both of your businesses greater. Whether your goals are to design new products, reach new markets or raise your brand’s reputation, a collaboration with another brand can give you that spark of inspiration you need to move forward, connect you to new clients, or provide you with something new and of value to offer your customers.
WHAT TO THINK ABOUT BEFORE REACHING OUT
**Be clear about your goals**
Before reaching out to another business, you need to have a solid idea of what is you expect to achieve through collaboration. Are you looking to promote a particular product, set-up a group exhibition or create new workshops, classes or products that you think your customers will enjoy? How will a collaboration bring you closer to these goals, and what possible actions can you take to make those things happen? The clearer you are with yourself about what it is you want, the more concisely you can explain your vision when you reach out.
EXPLORE COMMON GROUND
The most successful brand collaborations are those where both parties have similar values and goals, or where they have services, products or audiences that complement each other. For example, if you have an art print business focused on children’s artwork it probably doesn’t make much sense to partner with a fast food company or a luxury car brand; instead you might want to look at collaborating with an interior designer who may feature your prints in their clients homes or a Mummy lifestyle blogs or instagrammer. It is also important to think about what will bring the most value to your customers and vice versa for the customers of the brand you are considering collaborating with.
As an example, Hong Kong-based Jewellery Cat Preston recently told us how important collaboration is for her brand and she often partners with the photographer Belinda Bath on events, giving them both the opportunity to showcase their products to a wider audience.
THINK ABOUT WHAT YOU CAN BRING TO THE PARTNERSHIP
Collaboration is a two-way street, which means it’s not just all about what another brand can do for you, but also what you can do for them. You should have something to offer as an incentive for the other brand to partner with you, such as free advertising or shoutouts on your blog or in your newsletter, products for them to review or a giveaway for their customers, or even commission on any sales that they send your way.
HOW TO EMAIL A PITCH FOR COLLABORATION WITH ANOTHER PARTNER
First of all, keep things short and straightforward. Introduce yourself and give a brief description of your brand and then get right to the point about why you are writing them. You might want to lead in with a few words about why you respect their brand and why you think you would make a good team, and then offer some suggestions for how you could collaborate. Follow this up with some positive points about your brand like your social media stats, audience demographics, or consistently great reviews. Don’t be afraid to big yourself up (as long as you’re being honest).
SETTING A SOLID FOUNDATION FOR A SUCCESSFUL COLLABORATION
Now that you’ve connected with a potential partner, it’s time to lay the groundwork for your partnership. Communication is key from the very start. Stay engaged and be very clear about what your end goals are and what steps each party needs to take to make things happen. Be flexible and willing to negotiate, as you will both probably have different expectations at first. Once you have agreed on your objectives, make a plan that clearly states who is responsible for what and by when and make sure that you stick to your end of the bargain. Finally, keep the communication flowing as you go along to tackle any challenges that arise and to track your successes.
And you never know, you may also make a great friend in the process!!
PS: You may also like our post on Influencer Marketing 101.
