Piggyback Marketing: Need a Lift?
If you were to search the term "Piggy Back Marketing"(PbM) you might find several definitions that mention non-competitive. This term plays a major role in the success of this marketing strategy. Allow me to explain this further.
Lets Talk...In order to use the Piggyback Marketing strategy, you need to make sure you not in violation of this key principal.
Non-Competitive - Does not compete with the host business
The product or service that you offer should compliment the more established business that you plan to piggyback.
Example
If you wanted to open a pizza restaurant, location would play a major role in the success of this business. Placing your business in a prime location takes the stress off having to attract customers. This is where PbM can help a company become successful by association. The importance of marketing is getting the message or service noticed. For this example I will use Wal-Mart. According to statisticbrain.com, 90% of Americans live with in 15 minutes from a Wal-Mart. Wal-Mart accounts for more than 100,000,000 customers per week. Now if you sell laptops and Dvds, then setting up next to Wal-Mart might end your business. That's why the term non-competitive is very important.Establishing a pizza restaurant near a giant such as Wal-Mart could definitely pay off in the long run. This is Piggyback Marketing at its best. You would benefit from the steady flow of customers that Wal-Mart receives. You offer a service that the bigger business doesn't supply.
In conclusion, Piggyback marketing is a strategy that can have a high pay off. Hopefully this article got your brain running. Can you think of a way that your company can benefit from the success of another company? If so, get a Piggyback ride. Was this Article Helpful?
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