The Importance of StrategyOnly 48% of marketers have a documented marketing strategy. So, what? Evidence shows that if you have a documented strategy you are almost 5 x
At least, that’s what we believe. From the sparks that fly when two bright minds get together, to the progress that’s made when internal teams join forces, collaboration has immeasurable benefits. Two heads, after all, are always better than one, aren’t they?
So, what about two businesses collaborating to improve the fortunes of both their companies? Well, it takes a little more effort and organisation, but the results can be impactful. Typically, collaboration on this scale happens when two similar companies work together to dominate a section of the market. Makes sense perhaps. But is there value in the less obvious relationships? We think so.
At 21six, we like to approach everything from a fresh perspective, and our Commercial Director, Richard Logan, has been doing just that. Richard and the team have been looking at collaborative ideas that may not necessarily fit the norm – in other words, taking seemingly unrelated businesses and figuring out how they can actually work wonders for each other.
Thinking about possible partnerships or collaborations with a non-competitive other can have a number of benefits – not least because it provides the opportunity for each entity’s current market to have its eyes opened to potential new customers.
For example, you may think a high-end kitchen-fitting brand, a personal trainer and a chef were poles apart in terms of their offering. Think again. How about leveraging the healthy eating ideas of the personal trainer and having them brought to life by the chef in a luxurious kitchen? In this instance, each participant in the joint initiative gets to benefit from the creation of a much broader shared audience.
Here’s what else this type of collaboration can achieve…
Multiple parties can gain from linked content posted on social media – whether the arrangement is directly collaborative, or a more bespoke approach that focuses purely on the party with the most popular social channels. Creative agencies have more scope to come up with something unique and exciting; each participating business has the chance to communicate with a much wider audience; and stakeholders potentially get more for their marketing spend thanks to joint investment.
Building a network of like-minded businesses will immediately increase your ability to host successful and distinctive events. Setting up an agreement to support and assist with the promotion of these events is an effective way of growing every business’ network.
If you begin to look outside of what you believe is the norm you can and will find surprising inspiration. Engaging with organisations that are not in direct competition – across totally different industries or sectors – can be a great way to generate new ideas and approaches, through the effective sharing of information.
Collaboration ultimately comes down to the people involved. If you therefore bring good people together – despite their industry differences and sector backgrounds – a great amount of positive energy can be generated. That’s in addition to the other benefits, which include having a soundboard to run ideas past, a fresh spark of creativity, a valuable new skillset, and a totally different perspective. These things can be so useful in broadening your horizon when working alone, or, opening your mind within small groups. A problem may not be the same in every business, but a solution can be used in many…
In truth, there are plenty of benefits to discuss. But for now, we’ll stop here and let you think about it. Excited? You should be! The right collaboration could see your business grow rapidly. So, if you feel your organisation could use something new and innovative, get in touch at email@example.com and we can guide you towards fresh and unique collaborations that you may never have thought possible.