Joint ventures utilize the powerful marketing concept known as
“leverage”. This form of marketing utilizes the existing strong
bonded relationships and goodwill that other companies have
already established with people who are your potential
customers.
The main draw of joint ventures is that it truly is a win-win
business proposition. It allows you and your joint venture
partner the opportunity to leverage each other’s assets and
resources for the benefit of all parties - you win, your joint
venture partners win, and your customers and subscribers win.
It has extremely low cost and low risk, and is one of the
fastest ways of bringing your product to market by using other
people’s resources.
It is a great way to acquire new subscribers and customers with
practically no costs. It allows you to leverage your joint
venture partner’s traffic, existing subscribers and customers.
You don’t have to incur expenses in acquiring new traffic and
you can be pretty certain that the traffic you get from your
joint venture partner is targeted, therefore, likely to be
profitable.
Cutting joint venture deals doesn’t necessarily need to be
confined to only non-competitors. You can cut deals with your
competitors too, and you should!
Find out who is selling to your target market, what products
and/or services they are selling, and who your target market
trusts and has a good relationship with. You will then want to
contact them to propose a joint venture deal by offering them
complementary products and/or services. If you are a reputable
company that offers high quality products/services, it should be
really easy for you to find other companies to partner with.
To form a successful joint venture, it is necessary to first be
absolutely clear about one’s own goals; second, be clear about
the attributes one is seeking in a partner; and third, when
negotiating with potential partners, be open and prepared to
give as well as take.
If you plan on hosting products through joint venture
endorsement marketing, you must build a strong relationship with
your audience. Or, if you are the beneficiary, you must team up
with hosts who have a good relationship with their audience.
The stronger the relationship that the endorser has with his
audience, the greater will be the response. For an endorsement
to work most profitably, it must blend in with the endorser’s
prior communications with the audience.
Trading links is a joint venture because two websites are
hosting the other’s website link, helping to drive traffic to
the sites as well as increase search engine rankings. This
particular joint venture technique is being used frequently on
the web today because of the sheer importance of links and their
bearing on search engine results. If you are having problems
getting business then you might consider linking your products
and services with another website that has a similar target
market and complementary products. This way you can share the
expense of the website, hosting account, and administrative
costs, and split the difference on products. It’s a good way to
cut down on overhead and increase your inventory at the same
time.
You can also enter into a list building joint venture with ezine
publishers where all partners promote each other’s ezine at the
subscription thank you page. After someone has subscribed to
your ezine, you’ll redirect them to the subscription thank you
page where you display your joint venture partners’ ezines. In
this way, all of you can build your list much faster as all the
partners are leveraging on each other’s resources. You can
increase the size of your opt-in and ultimately your customer
list very quickly. It’s not uncommon to add hundreds of new
subscribers to your list within minutes of launching your joint
venture.
You can also team up with another website or business in their
autoresponder advertising campaign. Both websites can host these
ads for the other website and as a result, have more coverage
and business.
Joint venture with another website to write an e-book that
outlines different services and provides good information for
visitors. Ensure that reading the e-book is actually worthwhile
and informative. Then, include advertisements for both
businesses in the e-book and allow the e-book to be downloaded
for free from both websites. This is great advertising and by
giving something away for free you will make your visitors feel
more positive about your company.
You might have specialised knowledge with high demand but you
lack product creation skills. You can easily approach someone
who’s good at creating products, such as, e-books, tapes and
videos, to strike a joint venture deal. You can provide the
specialised knowledge whilst your joint venture partner can be
responsible for creating the products.
You may have a discussion forum. You invite several publishers
to participate at your discussion forum. One of those publishers
participates and then announces your discussion forum to his
audience. When he does this, he gets his audience to go to your
discussion board. Not only do the audience members gain helpful
information at the discussion board, but they see the helpful
posts of that publisher whereby their loyalty to that publisher
is increased.
Testimonials have been proven to make visitors feel more
comfortable and confident with a product or company. You can
create a joint venture to help another website with their
testimonials and have them do the same thing for you.
Free information/resource endorsements are the easiest to get on
the internet. By creating an online infrastructure that supplies
helpful information, publishers, who are obligated to supply
helpful information to their audience, will feature some aspect
of your infrastructure. This aspect is usually something that
supplies helpful information, like a discussion board, ezine,
helpful website, article, or what have you.
When writing product endorsement letters or scripts, you must
focus on how you can make the endorsement appear as editorial
rather than sales copy. This is harder to do in a product
endorsement than a free resource endorsement. That’s why you
need to make a special offer to the endorser’s audience.
The secret to executing successful joint venture endorsements is
to have the endorser convey to his audience that he is genuinely
trying to help them reach the end result they desire, through
his endorsement… he’s not trying to sell them something…
he’s trying to help them.
You should come up with reason to explain to the audience why
they are receiving the endorsement. You can use reasons like
these:
“My friend just released a new product… and after trying it
out, I immediately contacted him to see if he could make a
special offer to you, my customer. And here’s what he said…”
“After reading this information and trying the product, I
couldn’t help but passing this on to you…”
“One of my long-time mentors contacted me the other day… After
talking with him for a while, I convinced him to…”
“I was looking for a Valentine’s Day gift for my customers, and
here’s what I found…”
“I can’t help sharing this with you… This is brand-new, and I
wanted to let you know before every body else finds out…”
“My friend told me about this… I couldn’t believe it at first,
but when I tried it out - it worked! Now, let me tell you about
it…”
If done correctly, joint ventures can literally explode your
online sales and profits in short order.
Wishing you every success,
Monique Briand
—————————————————————–
——————————————-
Claim your free 120-page ebook and view over 12 hours of free
videos.
This is just one of the many powerful concepts taught in these
free resources which you can find at
http://www.internetprofitmentor.com
More and more valuable resources are being added all the time at
http://www.internetprofitmentor.com so keep checking back.
