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.

1. PIGGYBACK MARKETING

2. DEFINITION
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 company can promote another tire company.

3. ADVANTAGES OF PIGGYBACK MARKETING
 Easy international entry :
 First of all, it must be noted that there are two parties involved whenever we talk
of piggyback marketing. One company relies on the other for their services. What
now happens is that if you enter into a deal with an international company, it gives
you an upper edge. This is the chance for you to enter into
international markets and establish your name and reputation there.
 What usually happens is that no one enters into such a deal until and unless you
are exceptional. This is because neither of the parties would wish to ruin their
impression amongst the masses. The moment an international company agrees to
your offer, it goes to show that you are on par with them and they appreciate your
products. This can be huge for you.

4.  Online Piggyback Marketing
With online piggyback marketing it can involve having something published on
another company’s website or having them repost your content on social
media. For businesses looking for more exposure online it is best to partner with a
company that is considered high authority and has the power to boost traffic for
you simply by posting about your products or what you do.
Piggybacking online can be a simple one time post or a longer partnership that will
benefit both companies. You will need to plan your piggybacking campaign in a way
that it has the most impact either through timing it well or extending the
partnership so that you receive more traffic from each other. It is important that
both parties are experiencing a boost in order to keep the campaign effective.

5. Reach the target audience :
It often happens that you employ all the marketing tricks and gimmicks and yet fail
to get the attention that you desire for. This is because you have been unable to
reach the target customers. Thus, piggyback marketing helps you reach them.
In piggyback marketing, you tie up with another firm who is in a related field as you.
Though they are not your competitors, you two essentially serve in the same line.
Thus, if you sell cartoon printed bed sheets, you can tie up with a company who sells
beds for children. That is how you will be able to reach out to the target audience
and they will be able to identify you as well as recognize you.

6. Increase sales
Piggyback marketing is one of the best ways to improve sales and increase
profits. You make the profit only after you are able to successfully sell your
products. This is so because you get the opportunity to take the help of
another company.
Usually, this is a leading company in the market which helps you to establish
your name and reputation. In fact, it may also so happen that when the name
of the other company is taken, your name also automatically seems to get
associated with it.

7. THINGS TO CONSIDER
1) Target audience :
The most important thing to consider before piggyback marketing is the target
audience. This means that you should be able to connect to mostly those who fall
under the category of your potential buyers. Thus, you must only pick the relevant
company.
For example, if you are a shoe brand that sells only formal shoes, then you must
associate yourself with a company that sells suits and blazers. It would be pointless if
you got in touch with a brand that was known for curtains of the house. You see, the
target audience need to be able to know about you.

8. 2) Region :
 The region where you operate is very important. This is because while some
companies are regional and national, some other companies are international.
This means that you need to be sure of your scale of operations as well as about
the company that you are tying up with.
 It would be pointless if they promoted you in the international market and you
are actually unable to meet the demands of such a huge population. That would
put a huge question mark on your ability and well as the other company’s
reliability. Loss of face is a big no. Also, you need to be sure that not just
production is on point, but also the distribution channels that you have fixed. You
must always have a backup option in case one means of transport is unavailable
on a certain day or time.

9. 3) Time :
This means the time of the economic period. A company may be doing very
well at one time, but may suddenly experience a dip in work due to the
emergence of a competitor. In such a situation, you need to be aware of the
company that you are choosing and their present market status.