Co-Branded Collaborations are on the rise as more and more companies are seeing the immense value of Influencer Marketing. Both talent and brands benefit from these product partnerships, and it is also a great way for you to flex your creative mind! If you have ever wanted to start your own brand, but don’t have the bandwidth, this is an amazing way to start!
Co-Branding has been used in previous campaigns for years as a way to cross-promote companies and gain market share, therefore increasing sales, revenue, and notoriety. The brand pulls in someone who can speak to the existing product consumers but also create something to enhance experience and community.
From a brand awareness stance, there is an increase of more eyes to both brand and marketer because simply put, the share is greater. The target customers are front-facing to either brand or talent, but now may see each in a different way causing the cross-over. You now have two ‘groups’ of customers to sell to.
Social media has become such a powerful tool for brands because of the loyalty of Influencers – you share the day in, day out of products used and share in such an organic way, it’s like you’re talking to your new best friend and sharing the latest and greatest. Brands understand the consumers trust the talent’s testimonial, which may result in trying a new product or purchasing more for ‘limited time’ offers, again increasing revenue.
Being the ‘face’ of the brand can benefit both parties. You bring in the following that already loves and appreciates who you are and in turn, you are shared in corporate campaigns that can reach millions of people. Of course, the overlap of following is there, but we have seen as these collaborations continue to grow, social following comes along with it.
But! Seeing the other side of things, your side, there is really a huge upside financially. Oftentimes, an Influencer is paid X to do a post or stories, and let’s say it performs extremely well…well, that Influencer isn’t making the money, the brand is! So by creating a product of your own, you’re likely to have more creative authority and involvement and benefit more from profit share if it does well! It can really be a super lucrative project!
We do suggest being brand conscious here and sticking to projects that you know convert well and mesh with your overall brand. Home influencer? Let’s say your LTK sales are off the charts when you link a pillow. Well, maybe it is smart to work on a small line of pillows with a pillow company.
As these partnerships increase for 2022, we are so excited to announce a few that are in the works – and if this is something you’re interested in, let’s start the conversation!