When launching a brand for the first time, building relationships with other companies and/or influencers can be hugely beneficial, giving visibility to your value proposal. Collaborations with third parties can take place at different points in the life cycle of a product or brand. If you’ve been contemplating doing a collaborative campaign with another brand, or with influencers, read on to discover how to shape an effective online marketing action and what you should consider before leaping into the fray – from picking the right partner to publicizing your promotion on Instagram.
What does a collaborative giveaway or promotion consist of?
Co-Branding actions are nothing new, although they used to be more common in the offline world. However, collaborations between brands and influencer partnerships are becoming more and more popular in the online sphere too. This is due to a variety of benefits that such collaborations provide: shared costs (in the case of brand collaborations), greater reach, higher profits, and greater visibility and positioning for everyone involved.
In other words, it is about defining a strategic temporary alliance between two or more brands, or between a brand and an influencer, to achieve much greater reach and brand recognition.
For a collaboration to be successful there are several aspects to consider. First, it is important to choose the right brand or influencer to work with. Secondly, you need to establish a contest dynamic that appeals to both parties. Thirdly, it’s a good idea to use sponsored posts to make the action go viral. Fourthly, it’s vital to establish clear terms and conditions. Let’s go through these in more detail.
Steps to take when organizing collaborations with other brands or influencers: successful promotions or giveaways
Establish a clear objective
Before thinking about the post strategy for companies on Instagram or looking for the right partner, you should focus on a key question: defining your objective.
Ask yourself why you want or need to launch a promotion or giveaway in collaboration with a third party. What is your goal? Perhaps you want to grow your following. Or maybe you’re hoping to boost brand awareness or brand recognition, promote a new product or service, or learn more about the opinions of users, and so on. A clear objective is key to making the right decisions.
Consider which social network is the right one for your collaborative promotion or giveaway
Do some research before deciding which social network to launch the promotion or giveaway on. For example, if you decide to run a collaborative giveaway on Instagram you must first make sure that this social network is where your ideal customer spends most of their time and consumes most hours of content.
Pick the perfect partner
Should you collaborate with a brand or an influencer? It all depends on your goals and resources. Collaborating with another brand usually implies sharing costs. If you choose to work with an influencer, on the other hand, it’s likely that you’ll have to cover the costs of the prize, as well as the influencer’s fees and the costs of promoting the campaign on Instagram.
If you end up deciding to work with another brand, don’t just consider the size of its community, i.e., the number of followers it has. Assess whether the brand really instills trust and respect among its followers.
If you’d prefer to work with an influencer, there are several ways of picking the right one: if your budget is limited, you could always search for an influencer yourself. Use hashtags that include terms related to your brand to search for influencers to work with.
For example, if you’re a makeup manufacturer you could search for profiles using the following hashtags: #makeup, #skincare, #makeup, #lifestyle, #makeupblogger, #womensfashion, and so on.
You can also use free search tools. This is one of the most highly recommended alternatives because such tools often provide engagement statistics and comparative rankings. In addition, they filter potential profiles by location, topic, and language. By the way, don’t forget to formalize the influencer’s participation with a contract; this will help protect your investment, results, and reputation.
If you decide to work with an influencer, and you’re paying for it, you’ll have the freedom to define the contest mechanics and establish the terms and conditions. Of course, the influencer should agree with the contract and preferably be able to provide their own ideas for enhancing the action.
If the collaboration is between two brands, it’s important to clearly define the role each brand is to play in the promotion. By clarifying the roles and responsibilities of each party, and analyzing the costs and benefits of the actions, you will be increasing the chances of a successful promotion.
The prize, contest dynamic, sponsored post budget, winner announcement… all these things and more should be decided together, unless both parties decide to do things differently.
Measure the results
The promotion or giveaway doesn’t end when the winner is announced and the prize awarded. Far from it! Metrics are a vital part of deciding whether an action has met the established objectives.
Remember, without metrics, there’s no control and no way of knowing if actions of this type really benefit your brand. That’s why it’s a good idea for you and your partner to establish measurement indicators that enable you to evaluate the success and impact of the action for both brands.
So how about it? Would you like to try collaborating with brands or influencers to launch a successful promotion and reach other market niches, giving maximum visibility to your product or service? Collaborations allow you to establish powerful long-term relationships, explore new markets, and strengthen your position on social media. Easypromos can help you build a low-investment, yet highly effective, disruptive strategy!
Publication date: 2022-02-14