As we build collaborations between companies over time, we find that these advantages are most worthwhile to reach for:
1. Increased reach and exposure: Partnerships allow companies to tap into each other's customer base and expand their reach.
2. Joint marketing and branding opportunities: Partnerships allow for cross-promotion and co-branding opportunities, which can help increase brand recognition and credibility.
3. Access to new resources and technology: Partnerships can provide access to new resources and technologies that can help improve operations and increase competitiveness.
4. Cost savings: Sharing resources and expenses can result in significant cost savings for both partners.
5. Increased innovation: Working together can lead to creative and innovative ideas, products, and services.
6. Improved customer experience: Joint ventures and partnerships can result in better products, services and support, leading to a better customer experience.
7. Enhanced competitiveness: Partnerships can provide access to new markets, technologies, and skills that can help companies remain competitive in their respective industries.
Here are the results of a survey that shows additional advantages, as shown in the survey:
Source: A commissioned study conducted by Forrester Consulting on behalf of impact.com, April 2020. © 2020 Forrester. Reproduction prohibited.
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