The brand strategy comprises several different elements such as voice, storytelling, brand identity, brand values, and overall feel and attitude.
Brand identities are a combination of established and fungible characteristics. A composite of elements that won’t change (such as reliability) and things that take the brand forward.
This is why many brands are now experimenting with their brand's limits by creating collabs with other brands. Not simply to inherit the goodwill and the audience the other brand has created for itself, but also to understand its own brand better and to more fully appreciate its dimensions, reach, and limits.
Brand collaborations are the perfect way to explore and understand your brand better. By collaborating with a different style of organization or product, you can access their customer base, gain insights into how they perceive your own brand, and discover new ways in which you might be able to use your values to create something unique.
You could also open up new opportunities for your own customers. For example, if you create a collab with a sports brand, your own customers might gain access to discounts on sporting goods or attend exclusive events.
Brand collaborations also have the potential to uncover new and exciting ways in which you can use your existing values and identity to reach different audiences. By exploring different segments and demographics, you can build an understanding of the interests and values these groups have in common with your own brand.
Through your partnership, you’ll be able to more effectively communicate your core values as well as demonstrating that you’re a flexible.
A great way to start this journey of discovery is to find out who might want to work with you. This will show you a number of things – the type of person that is drawn to your brand and what sort of collaborations might be successful.
When it comes to creating a successful collaboration, you need to look for partners who share similar values and objectives. You should also consider how their product or service could benefit your own customers.
Using a prospecting tool like Colaboratory's enables you to advertise your appetite for collabs and will source previously untapped potential demand. Think of it like a business matchmaker – it will suggest potential partners for you based on your own offering.
The data-driven approach that Colaboratoryuses can help you find the type of partner that’s best suited to your brand. It also allows you to analyze and track results so you can measure the success of your campaigns and adjust.
Another approach is to advertise potential collabs and see who responds. When you see who responds you will learn more about the types of partnerships that will resonate with your audience and be successful.
Brand collaborations are a great way to explore and understand your brand better and tap into new potential customers. It is important to plan ahead and ensure you find a partner who will work best for you. Taking advantage of specialized tools like ProspeX or Colaboratory Listings.