Should You Collaborate with Competitors?

Competitors are stakeholders. I've established this numerous times on my blog. As shown above, two of my original posts about this topic have attracted more than 16,000 views in 9 years.

What's been changing, in recent years, is the trend toward actively collaborating with competitors for mutual benefit. This does not mean setting prices together, which is illegal. It does mean looking for specific areas where collaboration would be advantageous for two competitors (or perhaps the entire industry).

For example, what about sharing resources with a competitor to give each something unique to market? Read how a brewer came up with a novel idea and recruited competitors to work together.

Advertising agencies are working together, in some cases, to win and service clients. Maybe an agency sees a competitor with a particular focus that can add value for part of a big project. Or maybe an agency wants to bolster its bid for work by combining forces with a specialized agency.

Are there situations when collaboration can help you be a more effective marketer?