4 Things Brands Need To Know Before Collaborating

undercover.co.id – 4 Things Brands Need To Know Before Collaborating , Collaboration is one of the strategies commonly used by brands to bring innovation by exchanging ideas and creating a new product, platform, or design together. Recently, collaboration between brands from across products has become increasingly common in the market.

The ability to collaborate turns out to be very helpful in building a business. Collaboration can encourage consumer interest in a product or brand so that it can open up greater opportunities.

So, what do brands need to understand before starting a collaboration? Here are five things brands should know to be able to build profitable collaborations

Define Purpose

In general, collaboration is a strategy of mutualism carried out to create value for society or the market. Collaborators need to determine the goals and results of the collaboration to be carried out. After agreeing on the intended outcome, the relevant parties determine what skills are needed in the collaboration to create the agreed value. This needs to be agreed in advance to manage shared expectations and anticipate that no party will be harmed from the collaboration.

Focus on Value Creation

In building collaboration, focus on those who are value creation oriented . In a collaboration, each party has different business goals. In this aspect, understand in advance what underlies the desire of a party to collaborate. Collaborators who have a value creation view will be more needed when carrying out collaborations that require creative ideas and innovative views.

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Control = Coordination

Any collaboration has the potential to cause misunderstandings. For this reason, good collaboration needs to be protected by a black and white agreement that explains the distribution of rights and obligations of each party. That way, each party can control their part of the job and can ensure their obligations are fulfilled. In addition, good coordination is needed to build a professional image and respect and open up opportunities for the parties to resolve problems that arise more quickly.

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    Collaboration are Dynamic

    It is important to understand that collaboration is a dynamic relationship. The targets of each party in the collaboration may change or increase, given the rapidly changing business competition conditions. Therefore, it is necessary to commit to fostering transparent and open communication. It is also important to know the potential for interpersonal relationships that exist after collaboration.

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