Affluent Brands and Cross-Promotion: Is the reward worth the risk?
This post was written by the Upward Home team
Cross-promotion can be a mutually beneficial tool for brands looking to expand their footprint and attract a new audience.
Many marketers struggle with cross-promotion, especially when it comes to high-end brands. There is an inherent risk of muddling your top tier brand name with one of a lower reputation, thus putting your company in the wrong conversation. Aligning with a brand that has equal affluence and reputation is crucial in order to successfully cross-promote.
One of the best and most recent examples of an effective cross-promotional campaign is that between Android and Kit-Kat. Although not “high-end”, these two very iconic and distinct brands formed a successful partnership.
Android has used sweets for their software release names since 1.0. So when it came time for the “K” release, there was a lot of speculation about what that name would be. The announcement of Kit-Kat was a surprise, as it is a direct connection to a completely unrelated product.
The results were impressive. Neither brand paid the other, but instead offered 50 million chances to win a Nexus Tablet or Google Play gift cards. The campaign was a massive success for both brands, and it proved cross-promotion without monetary exchange could be mutually beneficial.
Cross-Promotion and the Affluent Consumer
The above example shows how cross-promotion can work in practice, even with well-established companies. However, it takes even more due diligence when it comes to high-end brands because the wrong partnership could cost you your reputation. Why is that?
First, affluent brands work almost entirely on reputation. The power behind their name, logo and product has been fanned by the idea of luxury and elegance, especially for high-end home brands that already maintain household recognition.
Second, affluent brands are often competitors in a very narrow market. There is less room for expansion, so as they grow they jostle one another out of the way. High-end brands should partner with companies in a similar niche but different market to avoid direct competition.
Best Practices For Cross-Promotion
- Choose a brand with equal or greater affluence and reputation.
- Choose a brand that matches your product tone and company culture.
- Choose a brand that is not a direct competitor.
- Choose a brand that is willing to put effort into content and marketing campaigns.
- Choose a brand that can attract influencers.
While it will take greater thought and care to cross-promote as a high-end brand, it can be a very successful and mutually beneficial tactic for companies looking to expand their footprint and name recognition.