The Power of Franchise Partnerships
Thursday, March 31st, 2016
Brands old and new are alwayslooking for ways to keep their products fresh in their shoppers minds.As a result,many brands look towards franchise partnerships as a way of refreshing their brand perception without actually making a “technical” upgrade. Lego is one such company that has done this in an extremely effective way. In fact, at Lego, these franchise partnerships account for approximately 1/3 of their sales. Currently, it’s been partnerships with Star Wars and Disney Princess that have driven their most recent success. Learn more about Lego’s story HERE.
While franchise partnerships can be an extremely successful approach for brands, some seem to push the limits when it comes to creating a relevant connection between the brand and the franchise partner. Take the NFL as an example. Many brands such as SAP and FedEX partner with the NFL even though their brands have seemingly nothing to do with the NFL brand. Which begs the question: Does relevancy matter when it comes to franchise partnerships?
Image Source: Lego via CNNMoney.com