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How 360 degree collaboration is key for growth and benefits all.
Jan 24, 2018
Until now brands have focused their collaborations solely on the consumer. 360 degree collaboration focuses not just on the consumer but just as importantly on retailers. ‘This year SVP Jewellery are taking collaboration one stage further to help get more brand exposure and drive sales’ says Sarah Parham – Queen of Rings, SVP Jewellery. We have seen the explosion of design collaborations and the figures prove this concept works. You generate not just sales by creating something jointly, but importantly grow your customer base, which in turn helps grow data (now more valuable than oil). Pop ups give brands the opportunity to share costs, knowledge, customers, influencers and press which all help with sales and awareness. It’s also a cheap way to see if a geographical area works for the brand. Collaborating to create customer centric events can be hugely beneficial especially if you can team up with a company that is far larger than your own. SVP Jewellery and Smashbox cosmetics (owned by Ester Lauder), created an exciting customer event together two years ago. Play was encouraged with our adjustable rings, we showed how they could be stacked and styled in multiple ways, Smashbox showed people how to style their new makeup range and how the same products could be used to create multiple looks. Here is how we are taking collaboration one stage further. We wanted to look at how we could collaborate for the greater good of retailers not just customers. We carried out some research on what buyers look for and where and how they like to take orders and what brands thought about showing at trade shows. Yes, retailers they want originality, a strong brand, a commercial product and something they know their customers will love. A track record of sell through, good margins, a great service and a brand that is willing to go the extra mile are all key, but, when it came to trade shows we were met with the same response over and over again. Retailers either don’t make orders, or find it difficult to make orders due to noise and crowds, or if the stand is already busy they quite often don’t have time or lose the will to go back or wait for a buying slot. In some cases they are making huge orders spending hundreds and thousands of pounds. Many retailers have given up attending all together. Their buying is key to their success. How can you make big decisions in a noisy busy environment? There was also a distinct dislike of having to sift through so many brands that just aren’t relevant to them or their customers. From a young emerging brands point of view, it is hard to get buyers interested in you if they haven’t heard form you, to show at these trade shows cost thousands and the work involved is immense. Welcome to 360 degree collaboration. This season SVP Jewellery has collaborated with four other great complimentary independent brands and hired an apartment at the same time and area as the trade shows. Why? We wanted to be generous, to share our buyers and in turn introduce our buyers to independent brands that all compliment each other – almost like a one stop shop that is beneficial to all. The hired apartment gives buyers a peaceful place to come and meet new brands, a place that’s calm with space to write orders without pressure. From the brands point of view, we save thousands by not showing at a traditional trade show, we are working smarter and together we provide a strong powerful support for each other. We have shared our press contacts too giving them a new opportunity to get introduced to brands and the people behind them. Coming together for the greater good. Being generous, working smart, being transparent and kind has to be good for all. Welcome to the new way for growth – 360 degree collaboration. For an appointment please contact email@example.com If you'd like to collaborate with us please email firstname.lastname@example.org And in the spirit of generosity, if you know of anyone that may be interested in this article or us please share.