How can collaborations help your business?

A little while ago, I put together a video all about collaborations and how they can help your business – called how can collaborations help your business. If you click on image, you’ll be able to see the Youtube video about this. But as I know not everyone can view videos as easily as they can read a blog, I wanted to write it down too.

How can collaborations help your business?

Collaborations can be big for your business is SO many ways. They can help to increase your reach, add authority, add value, and strengthen your connections with different brands and sub communities in your sector. Of course, if it was just as easy saying you were going to collaborate, everyone would be doing it!

Who should you collaborate with?

Choosing who to collaborate with depends on the objectives of your collaboration. So have a think about that before you take the next step! However, in all cases, whether you collaborate with a brand or a person, make sure they align well with your business. All businesses have a ‘profile’, by which I mean an image and values that it’s important to maintain. So look for people and brands who fit this. They don’t have to be mirrors of yourself, but should have the same ‘vibe’ or ‘feel’. Why does that matter? Because if you’re looking to promote a service or product, the people who are going to be most interested will fit a similar profile. Of course, if you’re looking to branch out in another area, looking for something in your new space is a good plan, but make sure their key values match yours, because otherwise there will be a disconnect and wasted opportunity. You can collaborate with pretty much any business or individual if they’re a personal brand – the world is your oyster!

How much does it cost?

In many cases, depending on who you pick to collaborate with, the cost might be zero. Yep. Free (by which I mean not money exchanges hands). How? Because if you pick carefully and really think about what you’re doing, the company or person you’ve chosen to collaborate with can gain just as much, if not more, than you. Yes, if you’re running a competition, you might have to give product, of course, but ‘value’ doesn’t have to be in pounds, shillings and pence. If your offer or opportunity adds value to your collaborator’s audience too, everyone could win and no one should be out of pocket.

What do you mean, everyone could win?

The thing about collaborations is it shouldn’t be all about you. In fact, the best promotional opportunities I’ve ever worked on ensure that everyone gets something out of it. This means that everyone wants the collaboration to work well, which gives it an infinitely greater chance of success.