Joint Ventures-Partnering For Success

One of the most established ways of getting your product sold is by doing joint ventures with other businesses. This marketing tactic is geared for short term and long term selling and is virtually free. This is very cost effective and can be one of the most profitable marketing tactics you can do.

What is a joint venture? A joint venture is when 2 businesses partner to market a product for their mutual benefit. An example would be; one business has a product but no way to sell it the other business has a means of marketing with no product. When they partner together for a joint venture they will both profit from the sale of the product.

How do you find partners? A typical alliance is a product owner and a publisher. You have a product and need a means to sell it, the publisher has a fairly large list and needs a product that will benefit his subscribers and that he can get compensated for selling. This sounds like an affiliate program but is actually a little bit more.

Your product must be a quality high demand item that appeals to a good-sized market. It is good to have a niche market prepared for this.

Your partners can be publishers who own good-sized subscriber lists. They must have good quality ezines that attract the same niche market that you need for your product. The better the quality of the ezine the more chance you have of them having a responsive list.

Setting up a joint venture:

Develop a good in demand product
Decide what market needs and wants your product
Prepare your proposal letter. It must be:
a.    Personal-try to include the publishers name and reference his ezine
b.    Introduce yourself
c.    Contain an offer that your partner will find irresistible-not just an offer to join your affiliate program. You must add a special bonus that is valuable to your partner and their subscribers
d.    Always be polite
Find partners, you can look these up in Google under your keyword and ezines
Make sure you have a good tracking system (affiliate program) You can join Clickbank and have them handle your affiliate program
Send your proposal letter
Wait a couple of days for any answers
Close the deal

How to really profit from a joint venturing:

Make your offer really benefit your partner. You may lose a little initially but you will get back your investment in the sales that a JV can generate.
Always use highly targeted ezines and try to check out the ezine before you make your proposal.
Make a very professional letter-if necessary have one written for you.
Have a good tracking system set up before you even write your proposal letter.
Provide a ready-made ad for your partner so that they can start promoting immediately.

Joint Ventures done well will bring you sales that will keep on coming in long after you have done your JV. This is a long-term marketing tactic. Make a note of your most responsive partners and make another deal with them for a similar product. Keep building on your successes and you will snowball your business with this lucrative tactic.

July 25, 2006 – 5:36 pm by Constantin Chersin