Piggyback Marketing

The truth of the matter is most small businesses do not have an unlimited supply of marketing dollars to promote their product or service.  One way to offset that bothersome reality is to think “outside the box.”  Enter piggyback marketing.

According to BusinessDictionary.com piggyback marketing is defined as:

“A low cost market entry strategy in which two or more firms represent one another’s complementary (but non-competing) products in their respective markets.”

By knowing and understanding your target market you will better able to identify other businesses that would be ideal candidates for this tactic.  Examples of piggyback marketing include:

  • A restaurant partners with a hotel to offer a special weekend package with dinner and an overnight stay and they share the cost of a mailer.
  • A wedding shop owner and a florist co-host a fashion show for brides-to-be.
  • A car dealership provides coupons for car detailing shop in town.
  • A dog kennel carries the business cards of a local veterinarian and the veterinarian does the same for the kennel.

The list could go on and on.  Build your list of complementary businesses and brainstorm ways you could work together to generate revenue.  Be prepared to get creative.  It may take some time to find the right partner and the right opportunity, but the payoff could be worth it.

Keep it targeted.