This study explores the role of collaborative marketing in fostering the growth of small and medium-sized enterprises (SMEs) and startups in Saudi Arabia. The research enhances the collaborative marketing experience by exploring strategies, success factors, consumer perceptions, and solutions. Collaborative marketing emphasizes resource sharing, market access, and innovation, aligning with Vision 2030. Key success factors include strategic approaches, relational dynamics, and brand synergy, with sponsorship and coopetition as potential strategies. Five semi-structured interviews with different SMEs were conducted through purposive sampling. While no substantial gap was found in practices, thematic analysis revealed that resource sharing, expanded market access, and innovation are core elements of collaborative marketing. The findings indicate that SMEs engage in collaborations for market expansion, social value creation, and resource optimization, with alignment and value addition being crucial criteria for successful collaborations. Challenges included communication issues, misalignment, and balancing contributions. Participants highlighted the need for tools to enhance collaboration management, with features like matchmaking, unified management, and performance tracking identified as critical. Implications emphasize the importance of improving communication channels, adopting integrated digital tools, and focusing on strategic alignment. A prototype platform is proposed to address these gaps, providing features for connecting collaborators, managing workflows, and analyzing results. The study concludes by emphasizing collaborative marketing as a significant growth driver for SMEs, aligning with Vision 2030’s goals, and providing actionable insights for improving practices. Limitations highlight the need for broader regional samples across diverse SME sectors in future research.