Select the correct answer. Brands and partners reaching a mutual agreement on the best payout and terms to achieve the brand's desired outcomes falls under which phase of the Partnerships Lifecycle?

The "Contract and Pay" phase is where brands and partners formalize their relationship, including agreeing on payout structures and terms. This ensures alignment on how the partnership will be compensated to achieve desired outcomes. "Engage" is about initial outreach and relationship building. "Tracking" involves monitoring performance metrics. "Optimize" focuses on improving partnership results after implementation. While these phases are interconnected, the specific act of reaching a mutual agreement on payouts and terms is central to the contracting stage.