Partnership Strategy & Development
Strategic partnerships are an important vehicle to further enhance the relationship a company holds with their customers. In addition, strategic partnerships can be a source of new, ancillary revenue streams for a company and it's loyalty program. Loyalty programs have been in the marketplace for a long time and no longer entice consumers solely with their novelty. Savvy consumers are not only used to them, they expect more from the programs they join.
Forward thinking programs offer complementary "earn and burn" opportunities as well as products and services that serve to enhance, engage, and optimize relationships.
Partnerships and strategic alliances are critical to:
- Enhance the value proposition of a loyalty program
- Reduce the cost of customer acquisition and rewards
- Minimize the financial and business risk of a loyalty program
- Increase program awareness
- Offer unique rewards and experiences
- Entice current program members to further engage
- Drive incremental ancillary revenue
- Open the door for new member acquisition
The Mallett Group's approach to strategic partnership development is deliberate. Potential partners are identified by evaluating the client's brand, customer profile, and business objectives then selecting companies that can enhance each of those areas for our client. In a marketplace saturated with "me too" programs and plain vanilla offers, we help clients create and maintain partnerships that are aligned with their brand value, responsive to customer needs, and drive incremental revenue and profit.
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