Affinity (or Partnership) Marketing is a highly targeted form of marketing, which allows luxury brands access to each others’ wealthy customers. This collaborative approach dramatically increases the potential for gaining new clients, delivering a return on investment which often outweighs that of traditional marketing methods such as advertising & PR.
Affinity Marketing can take the form of joint events and networking, product placement, media sharing (sharing ads in magazines and online), joint collaborations (i.e. the Breitling / Bentley watch or the Gucci Fiat 500) and other joint ventures.
A few years ago, I invited 20 luxury business leaders from brands such as: Holland & Holland, Remy Martin, Pagani, and Quintessentially to a three day networking event at Adare Manor, a 5-star hotel in Ireland. The event was free of charge to attendees - but I had to come up with a compelling reasons for these important people to take three days out of their busy schedules. So I created a tantalising agenda of business and leisure events that would produce tangible results for each guest, including: speed networking, keynote speeches, strategic networking lunches, golf, fishing, and cognac tasting.
The objective was to create 20 lifetime ambassadors for the hotel.
The end result far outweighed Adare's initial investment, with various events, luxury brand collaborations, golf memberships and private and company bookings coming from guest recommendations. A great example of affinity marketing at its best.
Could affinity marketing could next best way to grow your luxury business? Contact us to learn more.