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 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. Trading links is a joint venture because two websites are hosting the others 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. 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 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. 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: "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 success, Monique Briand ---------------------------------------------------------------------------------------------------------- Claim your free 120-page ebook and view over 12 hours of free videos. This is one of the many powerful concepts taught in these free resources which you can find at www.InternetProfitMentor.com. More and more resources are added all the time at www.InternetProfitMentor.com so check back often. |
