Cost reduction is a key component of every organizational objective. Companies constantly search for cost-effective solutions, whether it be for production expenses, facility overhead expenses, or marketing expenses?.
Traditional marketing methods can cost a lot of money, but there are numerous additional low-cost methods, like piggyback advertising, that can assist businesses in inexpensively making their voices heard.
All companies require marketing, though it may frequently be challenging to find a practical way to put new techniques into practice. With piggyback advertising, we’ve just struck gold on the quest for those cost-effective tactics. It is an economical technique and method with very little risk?.
What to know about piggyback marketing
Piggyback advertising is gaining global attention as an efficient method for companies to expand their distribution channels. By leveraging existing allocation systems, companies can increase sales revenue while minimizing expenses compared to traditional methods.
The success of piggyback marketing relies on compatible market segments that serve the same customers without competing against each other. This approach allows companies to fully utilize overseas networks and benefit both parties involved?.
Piggybacking involves one company selling another brand’s products alongside its own through global sales, with the larger company typically handling the selling process.
This technique can fill product gaps, offer cost savings, provide a wider range of items to customers, and support year-round export businesses. It is a marketing strategy that focuses on expertise, support, and leveraging existing export infrastructure?.
What is piggyback marketing?
A business may use piggyback advertising to link its merchandise or brand with a company that is already well-known to increase visibility and trust.
This can be achieved through working with a complementary brand, funding campaigns or activities, or even just appearing alongside a well-known company in media or on television?.
The concept is that the more well-known company will “piggyback” on, the newer one to reach its target market, giving the latter more exposure and authority. Small or new businesses might use this tactic to their advantage to stand out in a competitive market.
As both collaborators represent one another in their marketplaces, piggybacking is a financially advantageous technique. Although the term “piggyback marketing” is not innovative, it has recently been more well-known as a result of an increase in online and social network usage?.
Piggyback advertising is effective when the products being sold by strategic partnerships are integral, and it is crucial to mention.
Quick Fact
In piggyback advertising, two businesses collaborate on selling similar goods to access new markets and boost revenue for the providers. To advertise its products, a tire business, for instance, might team up with an automobile company.
The businesses are integral since there is no conflict; after all, tires are necessary for cars to travel on the street. It seems natural that collaborators would choose not to make an effort to market one another’s commodities since it would be a bit harder for them if people didn’t use tires and vehicles?.
How does piggyback marketing works?
There are various reasons for the rise of piggyback marketing in recent days and it is because of its benefits in the global markets.
- Any local company entity that wants to grow its activities in other areas (domestic or international), but lacks the funds or the necessary knowledge, looks for assistance or partnership from an established business??.
- A newly established or small business lacking the financial capacity to fund efficient advertising campaigns collaborates with an export-focused organization to increase sales abroad.
- Any global or multinational company aiming to expand its business operations lacks sufficient information about its target market. A global company works with pertinent local industry groups to join the growing industry.
Types of piggyback marketing
Piggyback on conveying channels
Zynga leveraged Facebook. Craigslist was piggybacking on Airbnb.
Craigslist was not financially rewarded in this network collaboration but also not penalized. For some time, Facebook was the same?.
Piggyback on the originator or opinion makers.
When Andrew Chen and Brian Balfour, two thought leaders, endorsed Reforge as one of the best economic programs available, it received high praise (founder story).
They work with the top employees and rely on their expertise. Since they gain market acclaim and build their image, owners permit them?.
Piggyback on famous people without reimbursing them.
Henry Moodie covered famous songs, but the lyrics were altered.
By rearranging the lyrics to well-known songs, he helps his listeners remember them and demonstrates his genuine talent. The “If you can dream it, tweet it” promo was run on Twitter.
Piggyback on antiquity
Even deceased people, landmarks, and history can be used as a source of inspiration. Almost any historical event can stir up feelings and draw in viewers. Marketers leverage the fact that Café Madras was founded before India gained its independence?.
Piggyback on macro-economic trends
You can capitalize on a major phenomenon like the outbreak, as Shopify did.
With instant advertising, you can accomplish it on a more compact level. Oreo’s dunk in the dark post came out after the power went out during the Championship Game for a moment.
Piggyback on individuals even with interceptions
Using a third-party network, you can lean on others. As Substack made their suggested newsletter tool available, Lenny’s Newsletter experienced this enormous growth?.
Professionals can piggyback off of your staff members too.
Google chose to take a different route when launching Gmail rather than simply giving media and technological news sources credentials. Employees were given unique “invitation codes” by the corporation to invite friends to participate in beta screening.
Piggyback on some other television commercials or an overall product trail.
? Oreo capitalized on one of the most well-known advertising initiatives in the world, “Got Milk?” by changing its slogan to “Milk’s favorite cookie,” which made milk a trigger for Oreo. Since milk was no longer sufficient for Oreos, they overlayed on the broader dessert cuisine.
Piggyback Marketing Strategy
- Identify the right opportunity?:
Look for events, campaigns, or trends that align with your target audience and brand values. This could include popular cultural events, holidays, or industry-specific conferences.
- Partner with complementary brands:
Seek out collaborations with other businesses that share a similar target audience but offer different products or services. This allows both parties to benefit from each other’s marketing efforts.
- Provide value?:
Ensure that your piggyback marketing efforts offer something valuable to consumers. This could be exclusive discounts, special offers, or unique content that enhances their experience.
- Be creative:
Think outside the box and find innovative ways to tie your brand into the existing campaign or event. This could involve creating engaging content, hosting collaborative events, or leveraging social media trends.
- Respect boundaries:
While piggyback marketing involves leveraging another brand’s success, it’s important to respect their boundaries and not overshadow or exploit their efforts. Maintain transparency and integrity in your marketing activities.
- Measure and evaluate?:
Track the success of your piggyback marketing efforts through key performance indicators (KPIs) such as increased website traffic, sales, or social media engagement. This will help you assess the effectiveness of the strategy and make improvements if needed.
Tips on Piggyback Marketing
While employing piggyback marketing as a tactic, it’s important to keep the following in mind:
- Verify if the well-known brand is a suitable fit:
It’s crucial to pick a well-known brand with a complementary product or service and a comparable target market.
- Request permission✔️:
Before utilizing a well-known tagline or logo in your advertising material, remember to ask for their approval.
- Be genuine:
Be genuine and open in your marketing endeavors. Don’t overestimate your connection to the well-known brand or make fraudulent claims.
- Be considerate?:
By matching the recognized brand’s purpose and style, you are demonstrating appreciation for the brand’s consumers.
- Be specific towards your own company:
Ensure that it is easily distinguishable from the dominant brand.
- Be relevant☀️:
Piggyback advertising works best when it is prompt and pertinent to the latest deals or activities of the known reputation.
- Establish a clear goal:
When using piggyback advertising, it’s critical to have a firm knowledge of your goals and track the success of your campaigns.
Pros and cons of Piggyback Marketing
| Pros✔️ | Cons❌ |
|---|---|
| Cost-effective | Dependence on partner |
| Increased visibility | Limited control |
| Credibility boost | Brand dilution |
| Access to resources | Competitive disadvantage |
| Speed and efficiency | Risk of negative association |
piggyback marketing examples
There are various ⚡examples⚡ of how piggybacking is done in marketing. Some of them are:
- A renowned fashion brand and a small clothing firm collaborate to produce a special collection of garments.
- A brand-new sports nutrition manufacturer supporting a sports franchise to reach the supporters of the team?.
- A publishing company of books introduces a new writer by pairing his work with a best seller by an established author.
- A modern cosmetic brand that co-occurs in a magazine with an experienced luxury brand.
- A fledgling tech firm exhibiting concurrently with the event as an established tech giant.
- A fresh automaker making an appearance in a popular automaker’s movie or television show.
- A brand-new restaurant group has teamed up with a well-known meal delivery service to provide specials and deals to draw in customers.
piggyback marketing trends
To illustrate how piggyback marketing has aided businesses in producing significant money, here are two relevant real-world examples:
Le Boat – Follow in Rick Stein’s Wake
Le Boat, a well-known watercraft rental agency, and Rick Stein, a well-known British food critic, restaurateur, and talk show host, are partners in this piggyback promotional campaign.
When filming “French Odyssey,” Rick Stein traveled around the rivers and streams of southern France. He prepared a variety of regional meals from the cities and towns he passed through while sailing?.
An edition of Rick Stein’s French Odyssey cookbook was up for grabs in a contest that Le Boat ran through a print edition. Since that time, Le Boat has featured Rick Stein frequently in its advertising efforts, and the venture has been a big hit.
Basically, the contest submissions let Le Boat gather information on a lot of prospective clients. Moreover, Le Boat’s marketing activities have benefited from the recognition of Rick Stein?.
ASDA – Jahmene Douglas
When Jahmene appeared on the X Factor stage, ASDA, its former company, gave him a great deal of support. In fact, Douglas has a special channel on ASDA’s official site.
For ASDA, it was a big PR victory. In that event, Jahmene stayed the bookmakers’ favorite for a very long time. jahmene was a former employee of ASDA, hence his accomplishment got immediate mainstream coverage for ASDA?.
The fact that ASDA was represented in the program, which was seen by over 13 million individuals in the UK, was a good advertising achievement for the business. Several of Jahmene’s ardent supporters went to ASDA instead of Morrisons or Tesco.
Paddy Power – London 2012
Olympic Games in London, 2012. An athletics competition that was occurring in a provincial town called London, France, was funded by Paddy Power.
They displayed billboards that were posted all over London, England, announcing that they are now the official partner of France’s participation in the biggest sports ceremony of London 2012?.
The London Olympic Games Organising Committee (Locog) sued Paddy Power to have all the posters removed, but the judges rejected their request and permitted them to remain. It generated a great deal of attention for Paddy Power.
Ann Summers Campaign
iCrossing, an advertising firm that works with Ann Summers PPC, conducted a promotional advertising activity.
This was associated with making an offer on various high-traffic search terms that individuals would be browsing for when they were trying to find particular activities or just doing overall lookups?.
The British Airline Strikes, the Chinese New Year, the General Election, and the Snow are a few instances.
FAQ for Piggyback Marketing
What does a piggyback branding approach entail?
Piggyback marketing is where a business creates an item or brand marketing image which is purposely made to appear remarkably comparable to a renowned, strong franchise that has by now achieved a mass audience and created a reputation for itself.
What’s a good illustration of piggyback marketing?
Piggybacking, for instance, occurs when you visit one online store and add a product to your purchasing list, then visit another webpage to view an advertorial for the object you just appended to your cart. In the modern age of internet ad campaigns, it is growing in popularity.
What does a piggyback business concept mean?
The concept of developing items around well-established, successful organizations and market dynamics is known as piggybacking. In simple terms, it deftly joins the bandwagon of well-liked goods.
What does the piggyback sell?
To distribute goods to international industries, an SME business (the “rider”) enters into a partnership with a bigger firm (the “carrier”) that already has operations in those countries and is capable of acting on account of the rider that wants to sell to those areas.
What does global piggyback advertising imply?
In global marketing, piggybacking describes a partnership between a minor or young business and a larger one in which the latter will assist the younger in exporting its goods to specific nations. The larger business is already recognized and conducting business abroad in this type of partnership.
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