Boost Member Engagement and Revenue with Strategic Loyalty Partnerships

May 31, 2024

Is Your Loyalty Program Missing Out? Partnerships Are the Key to Success

In today’s competitive market, loyalty programs are essential, but many fail to engage customers or deliver real value.

The answer? Strategic partnerships. Our innovative Partnership Assessment Framework helps you find the right strategic partner fit, breathing new life into your loyalty program and maximizing success.

As a trusted leader in loyalty program strategy, Kobie has driven over $360MM in incremental revenue for clients and reached 200MM customers, consistently delivering significant results by optimizing brands’ loyalty program value propositions.


The Power of Partnerships

Did you know?

49% of consumers find the idea of accessing special offers and promotions from brand partners appealing (Kobie Marketing Research, 2024).

Partnerships offer a powerful way to elevate your loyalty program by:

  • Diversifying and differentiating your program’s value proposition.
  • Expanding reach, awareness, and consideration among new audiences.
  • Establishing new revenue streams through co-branded promotions or shared offerings.
  • Gaining valuable member insights and data through partner interactions.
  • Enhancing the member experience with a wider range of rewards and benefits.
  • Growing acquisition, sales, engagement, and retention rates.


Our Partnership Assessment Framework: Taking the Guesswork Out 

Building a successful partnership strategy can feel overwhelming. Our Partnership Assessment Framework simplifies the process by:

  • Identifying partnerships that complement your program’s limitations and expand its reach.
  • Aligning with member expectations and feedback on desired program features.
  • Unifying stakeholders around a common vision of adding value to your program.
  • Benchmarking against industry leaders and leveraging best practices.

Here’s a brief overview of how our Partnership Assessment Framework can help guide you in developing a successful loyalty partnership strategy:

  1. A Simple, Two-Step Process. We offer a simple, two-step process to help you develop a winning loyalty partnership strategy:
    1. Digital Workshop: Collaborate with our team to brainstorm, co-create, and prioritize partnership opportunities tailored to your program’s goals.
    2. Partner Assessment: Receive a comprehensive analysis of potential partners based on your pre-defined categories and priorities.
  2. Evaluating Potential Partners. We assess potential partners across four key categories:
    1. Strategic: Capabilities and value they can deliver to your program and members.
    2. Member Right: Brand reputation and how it aligns with your member base’s values.
    3. Brand Right: Strategic vision, organizational culture, and alignment with your brand identity.
    4. Feasibility: Financial viability and potential for a mutually beneficial partnership.
  3. The Outcome is Actionable. We score potential partners across qualitative attributes within each of the four key categories. This scorecard provides a clear picture of how well each partner aligns with your program’s objectives:
    1. Discourage (0-50%) – Partnership is not a good fit.
    2. Consider (51-80%) – Potential exists, but further evaluation is needed.
    3. Recommend (81-100%) – Ideal partner with strong potential for program success.


Final Thoughts: 
Strategic partnerships have the power to revitalize your loyalty program, enhancing engagement, attracting new members, and fostering revenue growth. Yet, developing a successful partnership strategy can seem daunting without clear guidance on where to begin. Our Partnership Assessment Framework offers a streamlined approach, providing direction and a solid foundation for your loyalty partnership strategy within 2-6 weeks.

Contact us today to learn more about how our Partnership Assessment Framework can kickstart your loyalty partnership strategy.