Did you know there is a very easy method for breaking into new markets and making new customers?
Even better, this method takes very little time and very little (if any) up-front investment.
It’s called ‘Piggybacking’ and in essence it is utilising the resources, systems, contacts, and the sales force of other organisations that operate in your market.
For example, your new firm produces ‘Point-of-Sale Media’ and you are keen to get a foothold in this market.
Thinking ‘within the box’
Route A, would involve you advertising in trade magazines, doing a PR launch, employing a sales team (or stretching the recourses of your current one), outsourcing telesales, getting up at the crack of dawn for networking gigs, getting a stand at an exhibition here and there, etc.
All this is expensive, time consuming, and stressful.
Route B, is a bit more fun, creative and risk free. To ‘Piggyback’ your new product to market, is to ride on the back of an organisation that also targets your market (but does not directly compete with you).
Our ‘Point of Sale Media’ company for instance, could approach marketers, advertising agencies, manufactures, interior designers, software companies, signage makers, etc, and basically say:-
“We have a product that will add value to the service you provide to your customers, lets reach an agreement that works for us both and allows you to profit from our creation.
Their pain = your gain.
By having these companies selling your product for you, you automatically inherit the fruits of all of the labour your new ‘affiliate’ had to endure in order to get a foothold into your target market.
Needless to say, Piggybacking is not free. You will need to pay your affiliate commission, but this can often be negotiated on a ‘success only’ basis.
If this example is a bit too ‘OTT’ for your needs, Piggybacking can easily be applied on a smaller level. Why not Piggyback your way into your accountants monthly newsletter?
How could you Piggyback your way to market whilst staying at home?