LESSON #87: Piggyback Marketing
We’ve been talking about web traffic in every lesson since #72, and I’ve saved one of my very favorite methods for last…
(Watch this video - it may take a couple minutes to load after clicking it…)
Outline:
- Often (but not necessarily) a reciprocal arrangement, wherein both parties market each other’s products.
- An offline and an online marketing method.
- A free or low-cost strategy with high impact.
- Often works best if you’re already getting traffic, because then you can leverage that traffic to get more traffic.
1) The simple act of helping a customer (Free, but that’s not usually enough)
2) Reciprocal promotion (Free)
3) Commissions (Paid for referrals only… no cost out of your pocket)
4) Other incentives. Be creative!
The type and amount of incentive that you’re offering depends largely on what type of and how much involvement you’re requiring of your piggyback partner.
Less commitment/involvement = Less impact/results.
- The email opt-in process.
- The purchase process.
- Other communications (email, social media, software updates, etc.)
(See video for examples)
Competitors are often good prospects for piggyback marketing partners, particularly in the online world. I think there’s a wider range of what’s complementary in online commerce, and even more-so when it comes to information products.
Even products that seem to be substitute goods may be complementary. For example, a prospect who is interested in learning about a particular topic WILL buy more than one book on that topic.
Action steps:
1) Find Potential Partners. (Often vendors of complementary products)
Brainstorm by making a list of keywords and products that are related to your product. Figure out who the vendors are for those complementary products. Look at the order in which consumers tend to purchase these various products or services. Target purchases that occur upstream from you.
2) Figure out the best way to integrate your marketing with that business. (Customize as needed.)
Think about any point of contact that the business has with their customers. One of my favorite strategies is to offer a freebie, and position it as an “unadvertised bonus”.
3) Create a compelling proposal that is mutually beneficial.
It’s usually going to take an incentive of some sort to get their attention and make it worth their while. That incentive could be reciprocal promotion, it could be affiliate commissions, and it very well might involve both of those components and more.
In the next lesson we’ll be looking at joint ventures.
As always, you are welcome to post your questions and comments below 
Have a great day!
Hi Eric!
You know,This video came to a tee. because I’m thinking partner with a friend.
And I also wanted to ask what kind of video software you use. because I would like to create videos like you do for my future membership website.
William
I use Camtasia Studio from Techsmith, it’s a great tool.
Thanks for the info and by the sound advice.
GOD bless you
Thanks for a great lesson. Been thinking about piggy backing engineering design services within the offshore oil and gas industry. The key for me was - concentrate on upstream purchases.
Cool
Yeah the upstream focus is an important point particularly in certain businesses. In fact, I was just discussing this strategy the other day with a friend who is an engineer. The engineering design seems to come pretty early in the overall flow.
Piggybacking can definitely add value to your existing services quickly, for instance with our writing service we have been working with a great SEO team to offer SEO services to members.
Thanks Eric.
.Andrew.
Thanks Eric!
As always, great free nuggets in your tips…
Llwyddiant!
Joe
finally a brand new video player support IDM thank you eric
I’m actually doing this right now (just didn’t realize it had a name!). I think it’s great to partner up. The more partners you have the larger your network becomes. It’s like a real-life LinkedIn!
Thanks Eric,
I am just starting to look at this concept. You always have rock solid and actionable information, and I really appreciate that from you.
Eric this is good stuff and timely as I am looking for someone as we speak re an eBook…think the biggest challenge is convincing that potential partner to JV as their focus is selling their own goods.
YESSSS A new lesson, Sigh thought I would be the first to comment.
Thanks for the good solid direction. I am studying all your traffic videos now. By the way, Socrates is working well!
Akili
Thanks Eric, I always appreciate your lessons.
- A fan of yours ^__^
Hello Eric, thank you for another great lesson. I planned to use piggyback marketing, but I didnt know its called piggyback marketing:-) You cleared lot of things in this video.
Great lesson Eric, thanks for all the time you dedicate to them to help us all build stronger businesses online.My site would have never have seen the light of day without the things you have taught me over the past year. god bless to you and your family.
Brett