Decoding the Enigma: 7 Fascinating Reasons Brands Shy Away from Collaboration
20 Oct 2023
In the fast-paced world of marketing, brand partnerships are hailed as a powerful tool for growth. However, there exists a curious bunch of brands who remain hesitant to jump on the partnership bandwagon. Today, we delve into the intriguing realm of these independent spirits, uncovering eight barriers that keep most brands from embracing collaboration for growth. Read on as we explore the complexities of brand partnerships for growing brands!
1. The Quest for Compatibility:
Finding the right partner is akin to searching for a needle in a haystack. It requires extensive effort, research, and meticulous evaluation. Brands strive to discover partners who align seamlessly with their values, vision, and target audience. However, the pursuit of the perfect fit can be a daunting task, often deterring brands from engaging in partnerships in the first place.
2. The Maze of Go-to-Market Planning:
Crafting a comprehensive go-to-market plan for a partnership involves navigating a labyrinth of stakeholders, each with their own interests and agendas. Coordinating multiple parties, aligning strategies, and overcoming differing priorities can be a complex puzzle to solve. Some brands prefer to avoid the intricate web of go-to-market planning, and use instagram shout-out's as the new go-to for partnership marketing to little lasting effect.
3. Confusing KPIs
The outcomes of a partnership can be unpredictable and unevenly distributed. Despite the efforts invested, one brand may reap greater rewards than its partner, leading to a sense of imbalance. In a world where fairness matters, brands sometimes shy away from partnerships to avoid potential disparities in results.
4. Mere Mentions vs. Masterful Marketing:
Partnerships have the potential to be transformative when done properly. However, there's a risk of them being reduced to mere mentions on social media platforms, lacking the depth and impact of a well-crafted marketing strategy. Brands, desiring comprehensive and masterminded marketing initiatives, end up investing in relationships that only go a bit of the way and never realise the full potential or leverage the synergies between their audiences.
5. The Challenge of Measurement:
Measuring the success and impact of partnerships can be a complex task. Unlike more tangible metrics, the outcomes of partnerships often involve intangibles such as brand perception, customer sentiment, and long-term value. This inherent difficulty in measurement creates hesitation among brands, who prefer to invest in activities with more easily quantifiable results.
6. No time, and no budget allocation
Marketers can't do everything all at once, while expected too. When partnerships require investment of time, effort, and big budgets, some marketers find it challenging to get behind. Until now, there has never been an easy way for brands to test new partnership opportunities without all that effort. With Splashup, partnership opportunities come to you, and brands only pay for performance with transparent, measurable data all in one place. Book your demo with Splashup here
7. The Untapped Power:
Despite the growing popularity of brand partnerships, many brands fail to grasp the full extent of their potential. They only scratch the surface of what partnerships can truly achieve, unaware of the immense possibilities and benefits that lie within collaborative endeavours. Limited understanding of partnership dynamics leads some brands to shy away from exploring this untapped power.
As we look at the barriers to partnerships, we gain a deeper appreciation for the complex dynamics that influence the reasons to avoid them. From time constraints and compatibility challenges to measurement difficulties and unexplored potential, each factor sheds light on the considerations brands face when deciding to collaborate. While partnerships may not be the go-to strategy for every brand, understanding these intricacies helps us grasp the multifaceted nature of the marketing landscape and why Splashup is creating the go-to platform for brands to activate effective partnerships.