It seems to be a taboo for any business to have anything to do with their competitiors directly and indirectly. In fact, I do know that some businesses who are competitors on the outside, they are actually friends who meet up regularly on the inside. And when it is about competition, you will almost not able to hear any collabroation between the brands unless they belong to the same company.
Why is this so? It is quite natural that all businesses are doing for their own sake. But what if they can and should collaborate in one way or another?
Probably the only impossible collaboration is when the customer can only go to one business once and probably forever.
Companies such as restaurants can actually do a collaborations amongst themselves to do cross-promotions. Wouldn’t it be interesting to see that happening between companies on the social media, emails and even websites? How about furniture companies? How about electronic shops? There is simply a lot of opportunities missed out there when compeititors are not collaborating to leverage on one another’s market size.
Of course, cross-promotions are not free. There has to have some mechanism in place such as advertising space, affiliate programs or even an exchange program. If a customer cannot buy your competitor product after buying yours, it is definitely not making sense to do this either.
Nobody usually wants to take that first step to do the collaboration. It is either a “You must be crazy” idea, or “What if you market less than me” idea. It is not easy for sure. In fact, I am not expecting this concept to come true in the very near future. But who knows?