Boost Your Profits With Joint Ventures

Talking of joint venture deals, lets move on now to the fifth and final section on crossing your resources over and talk about the do's and dont’s of probably the most lucrative marketing method in the business. Of the five main resources, your joint venture prospects and partners will likely be the least numerous of all your resources, but with the most stopping power per person. When you think that some of your JV's might end up being seen by lists of ten to a hundred thousand or more, it suddenly becomes clear how important this is. Let’s look at where to take your joint ventures with regards to the other four resources, starting with list.

Turning Your Optin eMail List into Joint Ventures

Now as far as turning your list into joint ventures goes, this is a pretty easy but also open ended and rather variable in results until you actually see what these people are capable of further down the line. Similar to previously, when we talked about gaining feedback from your email list you can in the same way, gain joint ventures from your list, again, as the example in Building Your Affiliate Marketing Chanel () article with the affiliates, this is often far more widely used, and for good reason.

I urge you once again, not to relegate your joint venture prospects to those who visit your website, and the individuals you pick out through the top performing affiliates, but to actively seek them through your list. The reason we're doing this is simply because there's a good chance someone will be out there that won't progress down your line of resources otherwise. If they're experienced, have a big opt in email list of their own, or the ability to get in touch with your target market, you're going to miss out if you’re not telling them that you want their services.

For example, an experienced marketer that subscribes to a selection of lists to keep up with what’s going on around them, happens to subscribe to your email list where you're selling an info product such as this. He or she won't buy your how to product, because they’ve got their system set up already and it just so happens, that they only promote their own stuff to their own lists, unless it's a joint venture (this is very common among the big guys by the way), they won't buy your big product for the same reason, and they won't be joining your affiliate program for the above reason.

He or she is a heavy hitter with a big list, but you're missing out. These are the people you're aiming to cater for here. It's not good if you're leaving massive holes like this, because you're missing out on some massive profit potential. In fact, as we speak the majority of marketers out there are very obviously leaving these types of holes.

The problem with joint venturing through a list at this stage is it becomes kind of a lottery if you're not careful. You can't just send out a mailing asking for anyone with a list over ten thousand people to contact you for higher commissions, because then everyone else feels cheated and you may alienate some potential affiliates.

In general terms joint ventures should be a private thing, the deal will also vary from person to person, depending on your product, their list size, what they want in return and what you can grant in return. The best way to go about this is to keep it that way. Don't do a mass mailing just requesting joint venture for the reasons above, we can't do that for this particular resource.

What I'd suggest you do instead, which you should be doing with your list anyway, is carry on as your normally do, sending out your un-intrusive surveys to help with your research and find out as much info as you can about the people on your list, for something in return. For example a short valuable report that you've written on your area of expertise.

In exchange you're getting vital info that not only allows you to tailor your ads to your list providing a better response rate, but at the same time you're building up a picture of who the good joint venture prospects are. Once you've done that, you can go through the results you've collected, and pick the top performers, the knowledgeable, and the people with the most resources, and contact them individually.

Turning Your Customers into JVs

Turning your customers into joint venture prospects works in much the same way that you carried out for your list. You'll also be pulling research numbers from these guys, and from that research you'll know who to pull up for joint ventures. This is the only way to effectively do this and keep the joint ventures personal, instead of just mass mailing a list. It keeps you in the driver’s seat.

Of course, at this stage there's no other way to do this, chances are your list of customers who have purchased from you even though not as big as your list, will be too big to talk to all of them personally at this stage, which without this or affiliate stats, you have no other way of knowing who you want to make deals with.

Tunning Lifetime Customers to JV Prospects

Turn your lifetime customers into joint venture partners, small or large, lifetime customer or casual customer. Keep in mind that this isn't by far your most effective way of generating joint ventures on a small scale, (ad swaps, list access, etc.) or even on a large scale (full blown partnerships of products, each playing a specialized role), however, you'd be surprised what happens when you start talking to people. This article series for example wouldn't even be here if it wasn't for that factor alone.

While we won't dwell on this for too long, I do want to make sure you understand I'm not telling you to go out, and start spending your day talking to your customers, and as anti professional as that sounds, we can't strike conversations up with all these people, especially as your business starts developing over a number of products, the numbers can get a little overwhelming if you’re going to try and pull something like that out of your hat.

What I do want to make sure you understand though is to look for those signs that the long term customer that is contacting you would be a viable target for a joint venture offer, whether they mention they have a large list of their own, or on occasion you just get talking, and if it's with the right person, you might just find yourselves pulling some great ideas out of the bag together. Watch out for this, because it can, will and does happen more often than you may believe.

Turning Your JVs into Affiliates

First up, you should keep in mind that most joint ventures that you receive after launching your fist two products or so will come from your affiliates anyway. As far as those who don't, they’re really glorified affiliates only. As with the difference between customers and lifetime customers, you'll find that even with those who aren't your affiliates, you'll be in contact with them pretty frequently anyway, whether they're on your instant messenger list, or you just fire emails at each other when you each launch new products.

Building up a circle of contacts that act in this way is extremely powerful in itself. Just, it takes a little more time to set up when it comes to product launches. Maintenance won't be a problem if you're using good affiliate software and a professional autoresponder. so, in this respect, keep your joint venture prospects separate. They're something special, and you'll likely find yourself in contact with them even more so than your long term customers, and they will be your first line of attack when launching future products. So when it comes to turning JVs into regular affiliates, don't bother, because they're all that and more already.

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