Unfortunately most small businesses do not have the luxury of multi-million dollar advertising budgets and as such are restricted to low-cost advertising mediums.
One way of getting around this is Piggy-back marketing. By teaming up with a large organisation and pooling resources, the restriction to merely low-cost advertising mediums is effectively lifted.
In order for piggy-back marketing to be effective the following criterion must be satisfied:
-Both corporations must be targeting a similar audience
-Each party must receive a benefit from the arrangement
-There must be no component of competition between the entities
A great example of piggyback back marketing is jointly hosted events. Not only can a large audience be reached but events can also be held which benefit our community.
Ideally both entities should have the same ideals and be working together to achieve similar sub-goals (although the main goal may be different)(i.e green companies working together with environmentalists).
With small business being a priority for both Accountancy Matters and an undisclosed MP representing our local seat in the house of representatives, a successful synergy representing both our causes was achieved.
Accountancy Matters joining forces with our local Member of parliament to help boost small business and increase brand awareness
By piggybacking in such a manner, we were able to target a much larger audience range than normally possible (attracting clientele to the firm with the same goals as Accountancy Matters), as well as swing potential voters by providing another perspective/opinion regarding the differences to small businesses under the differing political parties.
All in all a very successful outcome.