Making Joint Ventures Work In Your Internet Business
I’ve been around the block a few times when it comes to internet marketing, and have tested almost every marketing strategy out there. Now after all of this experience, I am convinced that only a handful of these marketing strategies will actually work to get you tons of targeted traffic, tons of leads for your newsletter, and tons of sales.
This is something that I picked up on very early in my internet career. Online marketing is incredibly different from offline marketing. And this “difference” is the reason why some people flourish online, and while other people don’t. However despite the difference, there are some marketing strategies that are universal whether you use them online or offline.
One such strategy like this is joint venture marketing (JV). With joint ventures, you get to bypass a lot of the hard work involved with creating a product, building a list, and making your efforts responsive. Joint ventures are basically relationships or partnerships between 2 people for the sole intent of helping each other make money with a 1 time or recurring deal.
This can be a very powerful marketing tool for you if you know what you’re doing. I personally like doing joint venture marketing because it can make you very profitable. I can remember one of my early mentors saying that he made over $20,000 within a few days selling a $300 product to the list of his joint venture partner.
The partner has a very high traffic website (even till this day!), and he did a good job of training his members to be responsive. Would could you do if you made $20,000 within a matter of days? I’m willing to bet that it would be incredibly profitable for you. But it all starts with a simple joint venture idea.
When contacting people about a JV opportunity, you will want to create a well thought out proposal letter. This letter should include everything that your potential partner needs to know before saying “yes” to your opportunity. You will even want to send them a review copy of your product so that they can be assured that it is of high quality.
In your proposal letter, make sure that you state terms, the commission they will receive on every sale, how many times you’re going to mail to the list, the price of the product, and also a link to the sales letter page on your website that you will be sending the JV traffic to. All of this is necessary if you want to get the greatest chances of having your potential JV partner saying “yes”.
You have to remember, your partner has a business to run also, so you will have to make it very “off-hands” for them, all while providing them with tracking and statistics that they can use to see how much money their making with the campaign. If it’s profitable, they will probably want to run it again. If it’s not, then try to improve your product and your sales letter, and start again from scratch.
Joint ventures are a great way to get more new sales and profits for a very small cost, and of course, it will increase your website traffic too. Take these tips and use them to have JV success in your online business today.
Good luck with making joint ventures work for you in your business today.