ICLP - the global loyalty marketing agency - is an expert in developing and managing partnership marketing programs (programmes).
Partnership Marketing is one of several business strategies which aims to build stronger relationships with customers and make marketing propositions more appealing, in a highly competitive market place. Ultimately, the aim is to maintain or increase customers' profit contribution and maximise their lifetime value. Products, services and marketing propositions are enhanced by providing targeted, added-value benefits to customers, sourced and negotiated with third parties (partners), hence the term Partnership Marketing. Added-value benefits may come in the form of financial and other benefits tailored to the needs and aspirations of specific customer groups. The objective is to create products, services and brands that align with customers' lifestyles.
Partnership Marketing has the same aim as Loyalty Marketing; Loyalty Marketing is the total management process of identifying 'best customers' i.e. those who are the most valuable, who bring you the most profit, as well as those who have the propensity or characteristics to become best customers, and utilising customer data and insight to create, retain and grow profitable relationships; Partnership Marketing can help Loyalty Marketing achieve these objectives.
For most companies, in order to meet or exceed corporate objectives, increasing the loyalty of customers and other stakeholders through Loyalty Marketing initiatives is a strategic imperative. Within this framework, Partnership Marketing plays a key role.
In summary, Partnership Marketing is about adding-value and strengthening relationships with customers.