When I mention collaborations, I’m referring to creating a mutually beneficial relationship between a brand and an influencer or between two brands. This is also known as co-branding. Typically, these collaborations don’t involve monetary transactions but focus on mutual benefits for both parties. For example, if a pet product brand has a product that could benefit your dog, you could create a partnership where the product is showcased with the consumer (the dog), representing a type of co-branding.
Another example is cross-selling, where you offer complementary products together. For instance, if one brand sells salads and another brand sells juices, you could create combined packs. This collaboration allows both brands to reach a wider audience by aligning with similar purposes, values, and brand identities, thereby increasing market share and creating a win-win scenario. This concept encompasses co-branding, collaborations, and cross-selling.