What is a Collaborative?
Collaborative (definition): A cluster of like-minded individuals who have shared commercial, marketing, leadership, development or cause goals; who choose to work proactively together as equals, showing mutual respect; and pool their resources (be those skills, ideas, money, energy) to make those goals a reality for the good of the whole.
Our Realise Business advisors have discovered Parramatta’s dining precinct business owners have a strong desire to form a marketing collaborative. In fact, in face to face surveys of 32 owners since December 2018, 90% indicated this was either highly or moderately valuable as an initiative that will help lift the profile of Parramatta as a ‘go-to’ destination.
We are unaware of any previous initiative with the goal of bringing owners together for the good of the whole precinct. This is a first that Parramatta Light Rail are keen to facilitate and support. It is hoped that over time this informal collaborative can develop into a strong association of visionary restaurateurs eager to lead the precinct into the future.
What are the Benefits of a Collaborative?
While the energy and benefits of a collaborative are primarily directed for the ‘whole,’ the individual benefits for participants include: an opportunity to form friendships with like-minded people, self-development mentorships, networking to develop your personal profile/brand influence; and an opportunity to exert self-determination by injecting your marketing creativity for the benefit of all in the group.
For Parramatta’s dining precinct the most important benefit of a collaborative is being able to co-ordinate resources and co-operative marketing communications towards a common goal.
The collaborative can help reduce individual marketing costs through the shared costs of co-operative marketing, build the profile of the dining precinct through a group-determined and supported branding strategy; and if appropriate access state and local Government grants open to not for profit and small business special purpose clusters.
Taking a longer strategic view, the collaborative could capitalise on the exponential growth in global culinary tourism and help spearhead the development of a culinary tourism industry in Western Sydney. A collaborative has much better chance of helping culinary tourism in the west gain representation and promotion as an attraction with Destination NSW and influence local government policy and decision- makers in this regard.
Having a well-oiled mechanism in place to engage with the visual and performing arts community for the benefit of Parramatta and surrounds will be a huge advantage as the Powerhouse Museum construction and Riverside Theatre re-development are completed.
– This article was written by Viktoria Darabi. To know more about Viktoria Darabi click here.