If you're a business owner, you'll know that successful collaboration is vital for establishing your name in the local area and for building links with other useful businesses. So how do you maximise opportunities like this for marketing?
Working with other people can have a positive effect on your business. Research has shown that 53% of workers are confident that collaborations are having a positive and tangible impact on their organisation (Oscar Berg).
These benefits are not just in the workplace either, they apply to business owners and freelancers too.
1. Collaboration is about mutual benefit
If you're collaborating with other businesses, you all win from it. It's not a one way street and everyone has to get on board. So if part of your collaboration involves promoting a joint event on social media, it's important to decide a social media strategy up front. Who will post and when, then you can ensure that all parts of your collaboration pull their weight.
2. Collaboration is about clear goals
As well as making sure you set out responsibilities, it's important to set clear goals. Use SMART goals, to make sure they are Specific, Measurable, Achievable, Realistic and Timely. This could be about social media posts, number of event signs up you want or about attracting new email sign ups for a joint campaign. Write down your goals so you can reference them and measure them after your campaign.
3. Collaboration has to align with your business values
It is appealing to work with someone else who has different business experiences, and it can be a very valuable process. One thing to be sure of is that any collaboration with another business fits with your own values in your business. There's no point working with a company that sells meat, if you're selling vegan products for example. Obviously not all business examples will be this clear cut, but have a conversation with the other businesses before committing to anything and try to understand what motivates them in their business.
4. Collaboration pays off
Great collaboration means you can spread your message wider, to a different audience who are interested in similar values. This is why it's so important to collaborate with businesses who 'get' you, because their audience is of more value to you, and vice versa. Make sure you leverage this opportunity by building in to your plan a way to capture this new audience. Whether that's a data capture form, direct messaging campaign or a longer term collaboration project.
4. Collaboration needs feedback
If you're doing a set campaign, or one off collaboration, make sure you review progress and give feedback. If it worked, what went well? If it didn't work, what factors could you improve for next time? Think about this when working with other businesses in the future and work on any factors you can improve for your own business.
Looking for your next collaboration opportunity? We can help you formulate a clear marketing plan to help your collaboration go smoothly. Get in touch.