It's called several things -- cross-promotion, fusion marketing, partnership marketing. And it has increased dramatically over the past decade. Why the growth?
First, it works. Even the most mass of mass marketers -- the large packaged goods companies -- have realized its benefits. Smaller niches mean less economies of scale and higher cpms. That's where partnerships pay off. Joint marketing can lower message delivery costs while increasing reach.
Second, shrinking or static budgets. Few marketing people are content with their budgets. When you're asked to do more with less, symbiotic partnerships are cost effective tools to achieve objectives. Think of it as using other people's money!
Third, there's certainly an attitude of acceptance about teamwork and partnerships that wasn't as strong 10 years ago. The massive changes in communications are bringing us together, providing the business basis for fusion marketing.
A bonus reason! Cross-promotions and partnering are fun. They're definitely an adventure. You meet new and interesting people. Share ideas. And, it certainly enhances the budget.
Sound interesting to you? Find a partner who shares your audience. And take advantage of the opportunities. We've got several successful cross-promotion examples that we would be happy to share with you.