How To Use Joint Venture Marketing And Explode Your Profits
Unless the person is a newbie, I'm sure they would have heard of the concept of Joint Ventures and how it will benefit their business immensely. However as with most materials or suggestions which people read, the majority will only read. No action will be taken.
I've listed out below the advantages of Joint Venture Marketing. Forget whatever you have in mind of doing and just read through these advantages. At the same time think to yourself how you can implement these in your online business.
Takes notes of the things you think you'll do and at the end, plan it out and take action. The gold is there waiting for you to take it.
A joint venture is working together with another party so that both sides can benefit from the combined effort. Normally the project is for a set period of time or even long term in some circumstances.
For example, you can offer a well-known business an opportunity to promote your product. For every copy of your product they sell, they can receive let's say 70% of the commission. That's a lot more than you.
However, you benefit by having more customer leads, plus you still get 25% of the sales which you would have never have gotten. With these new customer leads, you can market other products to them and profit in the future. This is why Joint Ventures are a WIN-WIN situation.
10 Advantages of Joint Ventures
1. You get to be more well known among your market and also have relationships with well known businesses which in effect will help you immensely in the future.
2. There is no cost associated with Joint Ventures. Just an email to the business you want to joint venture with and some phone calls to follow up with.
3. You can gain new customers and leads which are interested in your products but have not bought from you. With this database you can market to them continuously in the future and profit. It is always said that the gold is in the list.
4. With a joint venture, you will make be able to compete against the top businesses which you would have otherwise thought was impossible.
5. You will save a lot of time. To get the leads you have by doing it on your own will take a lot more time and money marketing.
6. You will get free and low cost advertising. Save money on the Pay Per Click campaigns and solo ads you need to send out. You have shared the costs with your joint venture partner.
7. Your business will be able to expand and grow out your own expectations.
8. You can increase the opt-in list for your ezine (if you have one) and save money on the email leads you buy which are low in quality compared with the joint venture leads you have.
9. You can test the marketability of your product at no cost. Your joint venture partner's success will tell you if your product is good or simply trash.
10. You can easily get the well known joint venture partner to give you a testimonial for your business. This will increase the sales conversion for your product as testimonials increase trust between the prospect and your business.
So after going throught the list and realising all the benefits a joint venture can give you, what are you waiting for? Hasn't that list of benefits defused the fear in you of asking for joint ventures with other businesses or marketers?
With your list of actions and ideas that you have gotten when you read through the list, go and take action now. When you've done one joint venture you will do lots more.
To start you off on joint ventures, you can visit http://www.onlinemoneymachine.com/jvsecrets where you will get an MP3 recording of 2 well known marketers and how they do joint ventures to increase their business sales.
Don't worry. The recording doesn't cost anything. Learn from the experts and do what they do and you'll achieve the same results they get.
About the Author: Alan Cheng, is the owner of Online Money Machine, where you can take the first step to start having joint ventures. Sign up for Alan's confidential report: 10 Critical Factors To Making Money Online at http://www.onlinemoneymachine.com