Sometimes what’s needed is a quick and helpful checklist. So if you are considering a Partnership, here are some helpful tips in under 60 seconds….
ENSURE RELEVANCE TO THE SHOPPER, CATEGORY, BRAND AND PRODUCT Customers know if it feels forced and this can weaken the partnership potential.
ENSURE THE CORE CREATIVE CONCEPT IS COMPELLING BOTH EMOTIONALLY & RATIONALLY Poor use of a brand property can negatively impact the desire to purchase.
ENSURE A STRONG SYNERGY BETWEEN THE 2 BRAND PARTNER CHARACTERISTICS A high dependency on characters/IP alone will compromise audience engagement.
HAVE CONTINGENCIES IN PLACE FROM THE OUTSET AND BE OPEN TO PIVOTING IF REQUIRED Brand strategy towards partnerships can change regularly as they are impacted by macro and micro trends.
PLAN WELL AHEAD Partner plans are often locked down 12-18 months in advance.
PUT YOURSELF IN THE SHOES OF THE OTHER PARTY For example, seasonality can determine availability of budget/appeal of partner to invest.
HAVE REALISTIC BUDGETS Large brand partners often require a minimum media exposure or a gate fee to enter the partnership.
CONSIDER YOUR BRAND LIFE CYCLE STATUS Negotiated partnership value can be dependent on brand life cycle status e.g. new entrant vs maturity.
