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For Good’ And The Power Of Brand Collaborations In Business

For Good’ And The Power Of Brand Collaborations In Business

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Wicked: For Good, recently released in cinemas, is a masterclass in marketing and brand collaborations.

A brand collaboration or partnership is when two different brands come together to co-create a marketing campaign, piece of content, or even a new product, for the benefit of both brands. And they don’t necessarily need to be conventional (such as a yoga studio partnering with a wellness product brand).

The Benefits Of Brand Collaborations

There’s more to this than just creating a fun new product or experience. CMO Council found that 85% of businesses view partnerships as important to the success of the business. They’re an effective way for businesses of all sizes to:

  • Get their brand in front of new consumers they may not have reached otherwise.
  • Build faster credibility – like if a lesser-known brand partners with a more well-known and respected brand.

Collaborations may even yield a better return on investment than focusing purely on solo marketing strategies; a study from Partnerize found that 54% of businesses reported that partnerships drive more than 20% of total company revenue.

Although small businesses may not have the budget to partner with a large national brand, collaborations with other small businesses can still be considered as part of their marketing strategy, whether it’s a conventional partnership or something creative and unexpected that could generate more buzz.

Wicked: For Good Key Brand Collaborations

To get you inspired, here are just a few of the most memorable collaborations that Universal developed for the movie’s marketing campaign:

  • Ariana Grande created a limited edition Wicked: For Good makeup line for r.e.m beauty.
  • Kids and adults alike can create iconic sets and moments from the movie with LEGO’s Wicked: For Good collection.
  • Puma has created a set of Wicked: For Good-themed sneakers, hoodies, and notably, Glinda-inspired Speedcat Ballet Slippers.
  • LUSH has created a collection of bath and body products in the shape of Wicked and The Wizard of Oz characters and items.
  • Airbnb created a unique experience where 20 lucky winners could meet Cynthia Erivo and spend a day with her at an Elphaba-inspired retreat in Thousand Oaks, California.
  • For those with a love for nostalgia, Mattel has released a Polly Pocket compact toy, complete with Elphaba and Glinda figurines.

While a small business may not be in a position to partner with one of the above brands, these Wicked: For Good examples show the power of getting creative with (sometimes unexpected) partnerships, which can help to extend your reach and surprise and delight your audience. You could start small by partnering with a local business that aligns with your values and has an existing audience you’d like to tap into, and then build from there. It’s time to get creative.

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