Storygiving as a co-creation tool for luxury brands in the age of the internet: a love story by Tiffany and thousands of lovers

Abstract

Purpose This paper aims to introduce the concept of storygiving as a co-creation tool and provides a guideline for its successful use by luxury brand managers. Design/methodology/approach A study of Tiffany and Co.’s social media-based site and its use of stories as co-created marketing content provides us with managerial strategies applicable to luxury brands in general. The authors emphasize how luxury brands deal with co-created brand images compared to mainstream brands. Findings Storygiving enables consumers to share their personal experiences through narratives and provides contextualized connections among community members through shared experiences. One successful example of storygiving is Tiffany & Co.’s ‘What Makes Love True’ campaign. Research limitations/implications Only one luxury brand was used in this case study of online co-creation and storygiving. Further research, especially comparative case studies, would expand understanding of brand image management in the age of social media and consumer empowerment. Practical implications This paper presents a strategic guideline for luxury brand managers highlighting a customer-centric insight into ways luxury brands can develop marketing strategies incorporating co-creation. Originality/value To differentiate it from storytelling, the co-creation of brand stories through consumer-generated content is known as storygiving. The use of social media marketing in the process of storygiving is a powerful tool for luxury brands. The changed narrative from the brand’s point of view to that of the brand’s community is a major point made in this research.