Why brands should consider collaborating with influencers
Photo credits: (Shutterstock/nelzajamal)
Brand collaborations with influencers have truly taken the market by storm.
A number of brands nowadays are actively collaborating with influencers to launch fresh sets of products that are sure to tickle the fancy of consumers everywhere. This marketing tactic started with beauty giants like MAC and ColourPop, but now we see fashion, food and beverage and homecare brands joining the bandwagon.
Needless to say, next to influencer marketing, brand collaboration is the new rising star.
Depending on a brand’s business objectives and market landscape, the following are more reasons to consider collaborating with influencers in curating new products:
By partnering with an influencer who has a large number of followers on social media, you are expanding your target audience. This could be a powerful strategy, especially for a startup brand, because when you first start a business you might find it challenging to get your brand out there.
Unique market insight
More often than not, the influencers you choose to collaborate with will have insights about their followers, making it very useful for your business. Take advantage of this opportunity and co-create something together that is unique – a solution to a market need that no other brands are doing.
MINUET, a five-in-one face makeup palette co-created by Vinna Gracia and Cindercella under the beauty incubator company SUMMER International, for example, was created to heed the call of their followers for a compact, travel-friendly, high performance, super pigmented, all-in-one face makeup palette that suits all Indonesian skin tones, with a price tag that won’t break the bank.
Increase sales revenue
Higher reach more often than not equates to greater sales opportunities for brands, more so if you manage to partner with an influencer who already has an existing long list of influencer friends willing to support his or her business ventures through promotional posts. Working with these types of influencers is a sure win for brands as they help create authentic and organic hype in the social media space, opening more opportunities for your co-created product to be considered for purchase by more customers.
Take the Focallure X Tasya Farasya collaboration for example. The Chinese cosmetic brand is well known in Indonesia for its affordable – usually below Rp 200,000 (US$14.23) per unit – price range. When the brand collaborated with Tasya Farasya, one of Indonesia’s most popular beauty influencers, they came up with a makeup palette that was priced Rp 499,000, making it the most expensive Focallure product ever to be sold in Indonesia. However, the fact that the makeup palette was co-created with Tasya Farasya made it more desirable for consumers; more than 3,000 units were sold in less than a month after its launch.
Planning a product collaboration with influencers, however, does not come without challenges. Revenue-wise, brands need to figure out from the get-go how their partner influencers will earn from the collaboration. Sustainability is another. Will it be a one-time collaboration or the start of a long and fruitful business partnership?
If your brand needs to expand its audience or you simply need a breath of fresh air to make a unique, innovative product that you’ve never had before, maybe it’s time to consider doing product collaborations with influencers. After all, it’s all the rage right now, showing great promise of growth in the years to come.