Brand collaboration is a strategic partnership between brands for a specific campaign, promotion, or advertisement aimed at creating a buzz around a product or service. When carefully planned, brand collaboration strategies can solidify brand positioning, present a unique selling proposition to consumers, and provide a unique opportunity for brands to reach new audiences. The defining objective of any collaboration is to reach a broader audience and create a lasting impression in the minds of consumers.
Brand collaborations offer unique advantages that traditional forms of marketing usually don’t, such as facilitating a crossover between the audiences of the participating brands, expanding the usability of the product or service, and increasing the overall effect of marketing campaigns. Learning from successful brand collaborations can help businesses find the right partnership that benefits their own company as well as their collaborator.
Common types of brand collaborations include joint marketing campaigns, influencer campaigns, event partnerships, co-creating and co-branding, and licensing and patenting. Successful examples of brand collaborations include McDonald’s and Coca-Cola, Michael Jordan and Nike, Red Bull and extreme sports, Adidas and Parley for the Oceans, and Disney and Star Wars. Even the competitive “Cola Wars” between Coca-Cola and PepsiCo have produced some of the most brilliant marketing and advertising moments in history.
If you’re considering a brand collaboration, it’s important to ensure the partnership will benefit your brand and there is a mutual benefit for all parties involved.