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The Evolution Of Collaborative Marketing

The Evolution Of Collaborative Marketing

Collaborative marketing is one of the newest and most innovative forms of marketing.  It is very popular in today’s competitive world and more and more entrepreneurs and companies across the globe are opting for this technique to get better returns and sustain the market in the long run. In order to understand the concept, we need to properly analyze the evolution of collaborative marketing.

Strategic Insights

In simple terms, collaborative marketing is based on the purpose of building an interactive platform among the producers and the customers. Due to globalization, the world has become a global village and people stay connected with various forms of social media such as internet, social networking sites, and search engines and so on. This has led to the growth of the concept of collaborative communities between producers and consumers, on which the marketing concept is based.

With the gradual increase in the popularity and usage of the internet and web based applications, more and more innovative techniques like collaborative marketing came into existence. Apart from the conventional channels, companies and entrepreneurs across the world felt a growing need to make their presence felt online as well. As the internet brought people closer, it started becoming a very popular marketing tool to build a huge customer base and promote products and services. This scope for better marketing was one of the main factors behind the evolution of collaborative marketing.

With more and more internet applications coming up, companies are constantly trying to modify and upgrade their online marketing strategies for positive results. Collaborative marketing is also a type of this modified process in which both marketing strategies and technological advancements are utilized for better promotion and sales.

This form of marketing puts emphasis on building a relationship between the customer and the seller. There is constant interaction and exchange of information between both the parties through various social networking channels. Through this process, the consumer is able to get the desired product or service and the seller is also able to build the customer base and earn more revenue.

Being an interactive process, collaborative marketing offers a scope for the consumers to participate in the marketing process by offering valuable suggestions on the quality of the product or service, the ways to improve it and so on. In fact, it has become a wonderful way to bring customers together to create more value in the business exchanges.

Collaborative marketing, no doubt, is a great step in the direction of relationship marketing and will surely be beneficial to both buyers and sellers.