FORGING JOINT VENTURE DEALS: THE ULTIMATE MARKETING WEAPON
Looking For New Business and More Clients? Then This "Magic Pill" Might Just Work For You.
By Collin Almeida
Are you desperately looking for the "magic pill" that will slash your marketing costs, bring in a flood of new customers, rack up tons of sales and leave your competition in the dust? If you are, I've got good news for you. What I'm about to show you is a risk-free, completely guaranteed way to get as many new customers or clients as you can possibly handle and boost your profits by as much as 300 percent literally overnight. I have successfully used this simple inexpensive technique to triple my sales in just a couple of months.
All this and more is possible. Plus, it can easily be done without spending a penny more than you've already committed to your marketing or advertising budget. But in order to achieve this, you must understand a very simple concept that can have a tremendous impact on your business. Let me explain.
When you're planning to buy something, you always feel more confident buying it from a company that has been recommended by a friend, don't you? Everyone feels this way--we all like to know that someone has done all the ground work, found the best deal, tried the product and knows that it does what it's meant to do. Your friend is endorsing the product for you.
Major stores do this too by giving permission for other companies or businesses to hand out free samples or brochures on their premises or by sending out their letters or bills along with the promotional material of another company's product. These are all examples of one of the most under-utilized methods of selling: joint venture marketing. Put simply, joint venture marketing uses the power of leverage to increase sales. Everyone understands the importance of networking and building relationships to improve business. Joint venture marketing goes the next step and formalizes this process.
You can create an instant surge in your cash flow in one of the following three ways:
1. As The Host--You tell your existing customers about another company's product and are paid a percentage of the profits that results from the increased sales.
2. As the Beneficiary--You find a company with a large customer base related to your product and ask for an endorsement. You benefit from increased sales to a targeted market base and a host of new customers.
3. As the Consultant--You arrange marketing ventures between owners of large customer bases and companies that could target those markets and you receive a percentage of the profits that come from the increased sales.
Now before you go out and try to cut a deal, there are three key elements to consider:
THE CREDIBILITY FACTOR
When looking for a partner for your venture, always choose a business that has built up a solid rapport with its customers and one that keeps in regular contact with them. People trust those they regularly do business with, and you'll reap huge profits from your association with companies that have established a loyal customer base.
THE TARGET FACTOR
Your prospective joint venture partner must have a large enough customer base to make the venture worthwhile. That doesn't mean you only need to look for those businesses that sell to millions. Think about your product and your production rates. There's no point in setting up a joint venture with a national chain to sell your individually hand-made gizmos if you can't keep pace with demand. That will alienate both customers and partner.
Choose a partner who sells a compatible, but preferably noncompetitive product. If you sell sporting goods, partner with the associated venues--the golf clubs, tennis courts and ice rinks. If you have a range of pet care products, look for boarding kennels and breeders, as well as the more obvious pet stores. If you're marketing software, look for your partners among those who sell hardware, stationery and office supplies.
THE COMPENSATION FACTOR
Always approach your prospective joint venture partner with an irresistible offer they can't refuse. The deal must offer obvious benefits to all involved. This can be as simple as swapping endorsements for each other's products in newsletters to customers or it can involve offering discount coupons to be redeemed in each other's stores, sending out special offers with current orders or setting up a physical presence in the other's store or office.
Online, it can take the form of creating special web pages for the partner's product, running banners or endorsing their product in newsletters.
THE ADVANTAGES
If you're struggling to survive in a hyper-competitive marketplace, this profit-boosting strategy might just save you from extinction. And it works equally well for all sizes of companies ranging from startups to medium-size businesses to Fortune 500 corporations. Consider which businesses would be compatible with your own and then send out a carefully-worded letter which highlights the mutual advantages, followup with a visit (or phone call if partnering with someone from another state or country), then sit back and watch the new customers come in.
So what are you waiting for? Get out of your comfort zone, take stock of your assets and those of your prospective joint venture partners, create a marketing plan and start tapping into a goldmine of perpetual profits...starting NOW!
Collin Almeida is a Product Licensing Consultant and Publisher of the Strategic Marketing Audio Newsletter. A FREE two-hour audio seminar and Ebook teaches you exactly how to create an instant surge in your cash flow, adopting little-known joint venture strategies. You may find the seminar at:
http://www.reprint-rights.com/jv.htm
For more marketing tips and strategies, subscribe to CyberSmart by mailing to editor@reprint-rights.com
Collin can be reached at (541) 736-9631.
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