Way back in September 2009 I was asked to comment on a story about a new program that Costco was testing in a handful of stores as a benefit to its small-business shoppers and general members. Oddly, the story never appeared and I cannot find anything about the program anywhere. I’ve been holding onto my notes about this program since then, and I think it is still a story worth sharing—maybe a free idea for your large or small business to take and run with.

The idea Costco was apparently testing was a coupon book that includes offers for the services of its business customers. For a small fee, these businesses could include coupons and offers in a book that would go to all Costco members. This was an attempt to secure a win-win-win by giving small business customers (the heaviest spenders at Costco) a leg up in a tough economy, provide all customers with an additional benefit of being a member, and allow Costco to retain and add members.

I believe this was a brilliant move by Costco, and one that started because the company saw an opportunity to help its business customers on their higher-level needs. An increasing number of companies such as Costco are starting to look for new ways to add value aside from just stacking stuff high and selling it cheap.

The mission statement of Costco is: “To continually provide our members with quality goods and services at the lowest possible prices.” When I worked at Procter & Gamble in marketing, I had opportunities to meet with buyers from Costco. I quickly learned that everyone at the company is completely focused on bringing value to its members. This has traditionally been through better deals, lower prices, and stable margins. But in this case Costco is wisely delivering value to members in a new way. Here, the company saw an opportunity to “deliver members quality services” by providing a forum for marketing between members. Because of the company’s mission, it came up with this idea first.

There are several benefits to such a program. First, it is a free service for members at a time when a challenging economy is taking a toll. By helping customers through these tough times, Costco will earn loyalty for years. Second, Costco’s success is completely tied to the success of its core small-business owners; if they do well, Costco will experience higher revenues, too. Third, Costco would win a great deal of positive buzz by being the first to embrace this idea. I think this compares well to the Hyundai Assurance Program, in which this small car brand broke through by being the first to buy back vehicles of those who lost their jobs. This program won huge sales during a down market.

But the big question is: Why haven’t we seen Costco launch this program nationally? This is hard to say. Retailers test things all the time, and often have trouble taking programs beyond a handful of stores. Other ideas might have had priority, or organizational politics might have gotten in the way. I imagine that there are a number of real challenges, too. Costco would have to hire people to process the customers’ ads and coupons, and it would have to pay to print and distribute the booklets. It would also take time to drive awareness of this program among its business customers.

Nevertheless, this is clearly an example of Marketing with Meaning, and there might be other businesses that could take this Costco idea and adapt it for success. For example, a major bank has hundreds of business customers that it could bring together to market their products and services to each other. Business-focused law firms and accountants could host networking sessions for their clients to join up. Perhaps the greatest thing about an idea like this is that it is relatively easy to test. And even if you fail to get a critical mass, your best customers will appreciate your desire to help them succeed.