Take the game of Golf and add Tiger Woods now you have yourself a luxury combo. For luxury brands co-branding can add value while also helping to strengthen and position brand awareness. For emerging luxury brands sometimes co-branding can be the element needed to boost recognition and demand.
There are many opportunities available to co-brand luxury goods and services. Running a luxury PR firm we are often approached to help luxury brands build co-branding relationships.
However, before engaging in a luxury co-banding alliance the first thing should be to make sure that the luxury brands are compatible to work together. Trust me that should be the first thing on the checklist because if the bond connection is missing it will be a bad co-branding marriage. The same applies as with any other relationship or partnership a connection must be formed.
Five Ways How-to Seize Opportunities for Luxury Co-branding:
1. Event Co-branding – Partnering with luxury brands for an event is an excellent solution to attract an audience and following.
2. Product Co-branding – Creating a specialized product that combines the features and benefits of luxury brands is a win-win.
3. Awareness Co-branding – Spotlighting awareness for charity missions and causes through luxury branding relationships is an excellent opportunity to give back.
4. Promotional Co-branding – Offering promotions that include luxury branding alliances increases brand awareness for luxury brands.
5. Publicity Co-branding – Including alliances with other luxury brands in publicity campaigns is a great way to increase publicity exposure to receive media placement.
Co-branding can help established luxury brands as well as emerging luxury brands. So go make some relationships!