Skip to content

The Piggyback Effect

September 28, 2013

Remember piggyback rides as a kid?  Weren’t they the best?!  Of course, as long as you were the one jumping on the piggy’s back.   Since moving to Denver two years ago, and launching an online menu website revolving around a much larger market, and a diverse set of target demographics, I have learned many valuable lessons.  There have been numerous times, which I know that I have referenced in previous posts, in which I wish cloning was a possibility.  Twenty four hours in a day, at least six of which need to be spent sleeping.  Without a good night sleep, you lack the energy to kick ass the next day.  Then again, who am I to talk, to say I am an insomniac would be an understatement.  The advantage I had when I was in Bloomington, Indiana was how condensed everything was.  You can get across town in fifteen minutes, and all of our restaurants are within three miles radius of one another.  In Denver, we have to combat the widespread landscape.  Some of our restaurants as far as thirty plus miles apart.  Throw in traffic and half the day could be wasted away in the car.

When I first came out here, I felt like a chicken with its head cut off.  I had never launched a city market before, let alone visit Denver for more than a day.  Like anything else in life, it takes time to adjust to new surroundings  and routines.  After awhile I started realizing that the only way I could succeed in a city marketplace, was by piggybacking off of existing relationships.  Existing relationships consist of, in our case, established restaurants that have built up a credible reputation over the years in the community.  There is already an existing trust that is very valuable to a start up business in a new area.  Competitors such as Grubhub and Eat24 really opened my eyes to the Piggyback effect.   By getting well known restaurants in our markets to link our competitors, they are able to generate momentum without exerting much if any effort.  This is a win for them in regards to bringing in revenue that they don’t have to spend much money to earn.  Low risk, high reward, what could be better?  How about the fact that they don’t have to physically have a presence in many markets since the restaurants are actually laying down the groundwork for the online orders flowing in.   This has been an eye opener for me, and has helped refine our approach to where our marketing dollars are being allocated.  Why build a base from scratch if one is already there for  the taking?

 

I haven’t posted in awhile, and quite frankly that is a good thing in my opinion.  When I am writing a lot that means I have time on my hands to analyze and think too much.  I much prefer to be out on the grind without having the time to over think a situation.  Who knows when I will be putting the fingers to the keyboard again, but when I do, you will know its probably because I can’t sleep.  Writing is great therapy for clearing your head, and allows you to just get in tunnel vision mode for awhile.   Nothing else to report for now…sleep well people.

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: