The right partnership can enhance traditional PR campaigns and amplify ROI, and top brand marketers have not only capitalized on this, but pioneered new and inventive ways to create collaborations that leave a mark. We asked experts in the field about the strategies they’ve found successful of late, plus intel on the trends predicted to shape the world of brand partnerships as we venture into 2024.
The relevance gut-check
“Brands continue to be interested in omnichannel partnerships with partners sharing similar values,” said Eléonore Dethier, vice president and global head of partnerships for Sotheby's. “Combining targeted media reach and premium in-person experiences, omnichannel collaborations with brand-aligned partners drive brand relevance.”
It seems like a no-brainer that partners should be aligned across their values, but that alone won’t always move the needle. “Luxury brands need to be relevant, and in order to be relevant, you need to infuse them with creativity and innovation,” says “Luxury brands need to be relevant, and in order to be relevant, you need to infuse them with creativity and innovation,” says Andrea B. Werbel, founder + managing director of Parasol Marketing Group. “Designing thoughtful marketing partnerships and collaborations between like-minded brands that share a similar customer base not only enhances the value proposition for both brands, but expands its awareness with the right audience while generating incremental revenue.”
Melanie Altarescu and Wendy Lauria, co-founders of consultancy ask/offer, sum up the relevance factor nicely: “We're loving the rise of brands picking up on consumer trends and audience insights to inspire collabs (ex. Tinx x Tabasco normalizing hot sauce as salad dressing). We hope the future holds more and more creative partnership strategies with points of view and reasons for being.”
Tinx x Tabasco
Cross-disciplinary matches
As demonstrated by that collab, thinking outside the box is pertinent for standing out and making your partnership a memorable and effective one. Werbel shares that, “At Parasol Marketing, an integrated brand marketing and communications agency specializing in the luxury lifestyle and hospitality industry, we continue to design partnerships between fashion, entertainment, art and lifestyle with hospitality brands. These partnerships underscore a concerted effort to drive business, anticipate consumer needs, and stay pertinent in an increasingly competitive and complex market.”
Keeping ROI in mind
“How many times have we tried to manage our clients expectations when stating, ‘PR does not equal sales?,’ asks Byron Cordero, founder of Cordero Consulting. “I certainly have, and now, five years after founding my firm, it dawned on me: PR and sales are indeed distinct, yet intricately interconnected. It's a realization that let me manage the power of our network, and see how these opportunities can in fact translate to sales directly and indirectly.”
He continues, “This summer marked a significant evolution for our agency as we launched our Brand Partnerships Program (BPP), bridging the gap between traditional PR and a more results-oriented, cost-effective approach. By aligning our agency and our clients with respected brands, we're forging partnerships that not only yield short-term gains but also set the stage for enduring success. In the ever-evolving landscape of public relations, this program is a testament to our commitment to delivering tangible ROI while simultaneously enhancing the stature of our clients in their respective industries. And the media coverage, too.”
Kelly Finley of Joy Street Design x brand partner Artistic Tile | Cordero Consulting
From cost-savings for clients to the long-lasting value of excellent educational content, Cordero’s team has already seen success from their new program. “In the short term, our agency benefits by securing placements and stories for our clients. In the long term, the advantages are measurable. We're now adept at orchestrating well-thought-out rollout campaigns that breathe life into our clients' brands. These campaigns not only document the creative process but also establish a rapport that streamlines future marketing plans and facilitates quarterly planning.”
Content and creativity in 2024
“At the core of our partnerships, custom content is a priority, whether it is through video or editorial stories,” says Dethier. “Brands are more and more interested in curating organic storytelling showcasing their commitment to the broader cultural world. Beyond the existing synergies between luxury goods brands and art, we are seeing this trend expand across various industries such as hospitality and travel, technology and automotive.”
Sotheby's x Loewe
Werbel’s team takes a similar approach, noting that, “Looking forward to 2024, we expect to see a continued heightened sense of creativity and emphasis on brand partnerships, as luxury consumers look to invest in personalized and unique experiences that reflect their lifestyle in meaningful ways. Tailored partnerships and collaborations will continue to play a more prominent role in crafting compelling narratives that reflect the brands’ values, ethos, and personalities.”
