Bosses' Guide to Collabs

One of the most understated ways to grow a brand as a Boss is through collaborations. Collaborations allow for brand awareness, networking opportunities, increased sales, and more. Below are aspects to consider when collaborating with another brand:

1.     Mission/Vision

Collaborations work best when both brands have a similar mission and/or vision statement. A brand’s mission/vision statement is vital to consider, as it essentially outlines the purpose, values, and “why” behind the brand; Therefore, you want a brand that aligns itself to your purpose and values to stay consistent in your branding. Otherwise, the collaboration may be confusing or unfulfilling to both of your target audiences.

2.     Target Audience

Your target audience is who’s most interested in your products/services. Understanding your own brand’s target audience analytically through demographics and interests allows you to know “who” you are marketing to. Factoring in these demographics and interests of your target audience allows you to know “who” to look for when seeking another brand. If the other brand has a comparable target audience, you know their following will be more likely to bring awareness and interest to your brand after the collaboration and vice versa.

3.     Social Media Following

Your brand’s target audience is typically the majority of your social media following. This creates an easy way to navigate other brands with a similar target audience, but another detail to consider is the number of followers. Having a brand close to your target audience and following allows for a better chance at a successful collaboration in that there is equal exposure. For example, if you are a newer brand with a following of over 1,000, then you may have a harder time collaborating with a larger brand with over 100,000 followers because the amount of exposure or returning customers would be more one-sided.

4.     Overall Goal

The last aspect to consider is the overall goal you want out of the collaboration. Your goal for the collaboration may be to bring exposure to your brand, have an increase in sales, etc. Whatever your goal is, it is important that the other brand has a similar goal in mind for the outcome of the collaboration. If your primary goal is financial, you need to prioritize a collaboration focused on a sale of a product/service or encouraging recurring customers/clients to best achieve your financial goal.

As a WOL Boss, collaborating can aid in growing your brand, as well as a fellow female entrepreneur. Be sure to consider these aspects to aid in your next collaboration.