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For companies focused on bringing more value to their customers and loyalty program members, brand-to-brand partnerships are a growing area of interest. However, building successful partnerships can be challenging for even the most seasoned brands.
Brand partnerships aren’t formed overnight. They often require a significant amount vetting, planning, and development, ensuring that both companies complement each other’s products, services, values, and audiences.
With the right partnerships in place, both brands can thrive, bringing more value to their customers while reaching new audiences and creating opportunities for growth. With any brand partnership, alignment is key. Brands must consider how a partnership will impact how the customer feels about both brands. But when crafted in an authentic manner, all parties can leverage the partnership to develop stronger connections and drive emotional loyalty.
Loyalty360 spoke with vendor members and loyalty strategy experts about best practices on building brand partnerships within the loyalty industry.
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