Leveraging the power of partnerships has become critical to strengthening the brand image and maximising live brand experiences. No matter the goal of your campaign, effective brand partnerships can deliver top-notch quality, audience engagement and customer retention.
In recent years, there has been a paradigm shift from transactional-based brand sponsorship to brand partnerships. This has resulted in more authentic and engaging live experiences for audiences and while every brand has its own unique value, they have a lot to gain from partnerships with other brands.
Honest Communication, the Cornerstone of Partnership Power
The focus is not just about what the other party is contributing, it’s about having all key stakeholders align their goals at a unique intersection, for a winning and productive partnership that benefits both brands and their shared audience.
The appropriate strategy is to communicate the expectations, goals and values of the business to prospective partners, honestly and transparently, to ensure everybody wins. For example, instead of communicating a complete brand experience idea to a potential partner, where they only have to execute your instructions, it is a good move to build the idea, alongside your partner. There is a joy to shared-ownership that cannot be gained from owning the whole story, from planning to execution.
Long Term Partnerships, the Key to Success
Consider aiming for long-term partnerships. In this way, you include partners that add a depth of value to your brand and improve the experience over time. Brands reap the most benefit when they invest in developing their intertwined values over a greater period of time and multiple live brand experiences.
Know Where to Be
Events are one of the most important areas for brand partnerships. It is key that brands ensure they fit appropriately and consistently when partnering with events. Remember, events are a brand in their own right and should be treated as such. When a brands presence seems off, it may result in a backlash at best, or they may be largely ignored, at worst.
A regular presence at relevant events gives the impression to its audience that the brand is wholly invested, resulting in positive brand perception in the minds and eyes of your audiences.
Not only should brands be consistent with their presence and event selection, but they should also know the best time to be present. Taking advantage of different or selective seasons and holidays establishes brand association through seasonal relevance. For example, only engaging in event partnerships at summer festivals, establishes summer as a time to engage with your brand.
Creating rich experiences that drive brand advocacy, can be very challenging, especially when it comes to events. That’s why many of the world’s top brands choose to leverage experiential agencies to help drive maximum reach and successful engagement.
In the end, some strategies will work, and some may not. In every instance though, always communicate the best narrative for your brand, one that will reinforce your brand’s core values in the most compelling and authentic way. All stakeholders benefit from a brand strategy that factors into consideration shared brand values to improve the overall experience. It becomes easier to deliver quality experience when partnering with like-minded brands, and in that, the best results are obtained