Successful joint ventures for your internet or service-based business are the fastest and most preferred way to increase sales and cash flow. It is no longer a secret, business partners are what make a strong company. It is impossible for a person to sit alone and wait for businesses to come, you need to get your influence out there and that is where successful joint ventures jump in.
If you have spent any time on the Internet, you should know that JV partners are the master key to online success. Here are some reasons of why people are failing to get quality, successful joint ventures:
1. Other marketers will not be waiting for you to reply why they should joint venture with you. Make sure you include the reasons why the other marketer needs to joint venture with you, throw all the benefits in and give a compelling reason why they should.
If you think that giving your product for free to a joint venture partner and expect them to endorse it to their list of subscribers, it won’t work. Even if you offer your joint ventures a greater profit than you do, it still works if both of you get to know each other better and have more joint venture plans in the future.
2. Many JV offers are thrown into the trash bin at first sight. Why? The more famous marketers can receive up to 200 JV offers every week, they can’t afford to just joint venture with any little beings on earth. Which is why, you need to follow-up. It is important that you don’t stop requesting until you are noticed.
Even if they trashed your email for the first time, on the second, third and fourth time, they should be noticing your existence and be urged to open the mail. Be consistent, follow up, and your half way there. If you base what you do on inaccurate information, you might be unpleasantly surprised by the consequences. Make sure you get the whole successful joint venture story from informed sources.
3. If you think sending an autoresponder series of template emails to your potential JV partners is a good idea, you’re killing your own business. People are very busy and to see that you are not even using your own time to write a proper JV offer, they don’t have time for you as well.
Your JV proposals should be more personalized – if possible you will even want to do a research on them so that you can know more about them and include the points in your JV offers. This makes sure that the both of you have a potential of being serious JV partners in the future.
4. JV partners are not affiliates. They are more than just affiliates, they’re potential super affiliates. You need to give them more commissions on any sales they’ve gotten for you. If you offer a 50% of commissions to your affiliates, your JV partners deserve 70% or more.
JV partners return you targeted customers, they are hungry for similar products. Their subscriber trusts what they endorse, so it is the best way to promote your product. With a list of 10,000, if only 1% which is 100 who purchase your $97 product, you’ll earn $9700 over night with a single endorsement. 1% is a really low conversion, if the conversion rate increases by another 1% – you’ve already received $19,400.
5. Targeting the big fishes is not a good idea. You should begin from smaller JV partners, slowly build each other’s publicity, and only approach greater marketers when your subscriber lists are huge. This way, the greater marketers will get a more compelling reason in having a JV with you.
Joint venturing is no doubt the greatest way of getting successful in the Internet online venture, be sure to use it to the extreme and you’ll be delighted with the outcome.