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Applying Joint Ventures to Internet Marketing
Joint Ventures have an even greater chance of being successful
on the internet than offline. That is because to make a profit, the
benefits must exceed the costs. Duh! This section
could be labeled Business 101. :)))
Using direct mail offline can run into big dollars fast.
But on the internet, email is free. There are no printing costs, stuffing
envelopes and postage costs. The benefit can be much smaller and still
generate a net profit! All without worrying about being flamed for
spamming.
If You Are a Product Owner: There are thousands of web sites out there
which have already built relationships with their customers. They have
Opt-In Email Lists, discussion boards, or regular visitors to their sites.
They have the targeted consumers you need and are looking for in your business.
If you will LEVERAGE their customer asset and share the profits of your product
with them, you can build your online business.
If You Are a List Owner: If you find the right product offer and send it
out to the 10,000 subscribers of your newsletter along with the right Joint
Venture elements, you can instantly earn new found wealth for your business.
This can occur while helping your subscribers and without having to spend a
minute on developing a new product.
If You Don't Have A Product Or a List: Even if you are just starting out,
with neither a product or a list, you can take advantage of Joint Venture
Marketing Principles. You can become a deal maker who finds the
product owners and list owners and sets up the opportunity. If you were
working on a profit split, you could easily earn 10% - 30% of the profits on the
deal!
There are an infinite number of ways to find these deals and set them up.
Here are three techniques that may get your creative juices flowing:
1. Look for deals with Ezine publishers. Many of them have 10,000 or
more subscribers and send out emails to their lists every single week (some
daily). Over 3,000 of them, organized by industry and market, can be found at in
the ezine lists listed in ________. You can promote your newsletter or products
through endorsements in these other people's newsletters.
2. Do a search on the search engines. Finding dozens of potential partners
in any business can easily be done using the online tools we have available to
us.
Once you find your potential partners, send a letter to the decision making
person in the company. Tell them that you have a way to leverage the
assets in their business for immediate profits. There is no cost to them
whatsoever. Then, call them. Introduce yourself and start
interviewing them. Ask about their company, their sales, their business,
etc. Do your homework about them before you call. You will appear more
professional and not waste their valuable time.
Share the information you have learned here with them and get the deal going for
maximum profits for both of you.
Joint Ventures With Your Competitors Also Work
Now for the shocker: Doing a joint venture deal with your
competitor may make you both more money! "Huh?" you say.
Remember how the response rate goes up with an endorsement as compared with the
seller's own statements? Well, with cross endorsements, both parties enjoy
a higher response rate and both win.
Geez. What will the marketers think of next. The key is an
abundance mentality. This is not an environment of scarcity. There
are lots of customers to go around. We just must be creative in finding
ways to increase the prospects' confidence in each other.
Of course, you would only want to endorse or be endorsed
by another party whose image and integrity would not spoil yours.
But there are a lot of potential joint venturers out there that are great.
Go get 'em!
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