The right partnerships can take your business to the next level—expanding brand awareness, increasing customer engagement, and driving sales. In a recent Women in Toys, Licensing & Entertainment (WiT) webinar, Bridget Murphy, president of Envision Promotions, shared invaluable insights on creating ambitious and generous partnerships that benefit both sides.
With a career spanning Disney, Fox, and major corporate partnerships, Bridget's expertise in brand collaborations has helped businesses grow exponentially. Her philosophy? Be ambitious in your partnerships and generous with your offerings—because when both brands bring value to the table, the rewards multiply.
Why Partnerships Work
Studies show that two-thirds of consumers make buying decisions after seeing a brand partnership. Why? Because collaborations create a warm recommendation effect—like a trusted friend suggesting what to buy. When done right, partnerships offer increased brand exposure, access to new audiences, credibility through association, and revenue growth with little to no out-of-pocket costs. Companies that prioritize partnerships grow twice as fast as those that don't.
How to Build the Right Partnerships: The Envision Formula
1. Strategy: Define Your Target & Goals. Before reaching out to potential partners, clarify who your target audience is, what values your partner should share, and what your key goal is—brand awareness, sales, or engagement.
2. Selection: Finding the Right Fit. Align on the audience, align on values, and align on resources. A great example is Sphero + Pinkberry: Sphero, a tech-driven toy, wanted moms to engage with their product; Pinkberry, a frozen yogurt brand, wanted to keep families in-store longer. The solution was a co-branded experience where customers could play with Sphero toys while enjoying Pinkberry—driving engagement for both brands.
3. Outreach: Making the First Move. Many businesses hesitate when it comes to pitching partnerships. The key is confidence and clarity: use LinkedIn to reach out to brand managers and partnership leads, lead with value, and think beyond obvious categories—a toy brand doesn't have to partner with another toy company.
4. Execution: Make It Mutually Beneficial. The most successful partnerships feel effortless and rewarding for both parties. A fantastic case study: Cranium + Post Cereal. Post wanted a high-value promotion to drive cereal sales; Cranium wanted to get their games into more households. The solution was a $10 Cranium coupon printed on 22 million cereal boxes, driving massive exposure with minimal cost to Cranium. The result? $2M in revenue grew to $44M—that's the power of an ambitiously generous partnership.
Tips for Small Businesses: Start Small & Scale Up
Even if you're a startup or independent brand, partnerships can work for you. Start local—partner with independent retailers, museums, or community centers. Offer something valuable—free product samples, event participation, or social media exposure. Leverage digital campaigns—contests, giveaways, and collaborative content marketing. A great example is Goldfish Swim School, which partners with game companies to keep kids entertained before and after swim lessons—offering exposure to families in a prime buying mindset.
Are you ready to create meaningful partnerships that drive business growth? Whether you're looking for a retail activation, co-branded marketing campaign, or an innovative digital collaboration, there's a perfect partner out there for you.