Collaboration between brands will be a business growth strategy for 2023

In this one the digital ageevery day we see more people creating content on Brands. They talk about them, recommend products, and even give advice on how and when to use them. They all pursue the same objective, to stand out from their competitors. What would they say if I put this: “Success in business It does not always depend on the individual strategy.

Many business people continue to view competition as an enemy to be overcome, not an opportunity for growth. Simon Sinek suggests that we should take inspiration from our rivals to improve what we do. Rivalries will make us find the “why” of the things we do. We can even go further.

And you skill is straightforward, we may seek to work collaboratively to improve brand metrics. Let’s start with a small case, the hardware paradox:

Let’s say you open a small hardware store in Peru. Shortly after, someone decides to put another similar hardware store very close and be your competitor. The two will compete on price and serve primarily clients who buy in small quantities, within a small demographic segment. This will make it harder to tell your business.

If instead of competing, what if your neighbor offered to join the two stores to create a bigger business? Largest projection of growthgreater power of negotiation with suppliers, a better image with buyers and better exposure in the various communication channels. Soon they might even become authorized distributors of the brands, and with that they would go from a goal B2C (Business to Consumer) a uno B2B (Business to business). Moving from a competitive mindset to a community mindset opens up opportunities to attract customers who will buy in greater volume.

An African proverb says: “If you want to go fast, walk alone. If you want to go far, walk in a group. This saying reflects the importance of working in collaboration with others for long-term success, which Peru It is very difficult for us to integrate into our commercial approach a level macro.

The ace characters we are community beings and we appreciate when someone (even a brand) recommends something to us (another brand). if our brand embrace this community thinking and start highlighting the value of other brands within our ecosystem, people (users) will greatly appreciate your brand for collaborating by recommending another without expecting anything in return.

In 2023, many entrepreneurs will have to reformulate and rethink their strategies on the management of their businesses or businesses against the behavior of Offer and demand. Let’s think out of frame and let’s not be afraid of collaboration. The collaboration between two brands generates conversation (commitment), the press likes to talk about it (earned media) and it is promoted in both communities (Brand Awareness), generating interest that will tend to approach and retain future customers.