The Principle Of Joint Venture Marketing

Joint venture marketing (JV) is a marketing principle that a lot of business owners seem to neglect. To make it work, you and your partner must have assets that you both want to share. Either you have the list and then have the product, or you have the product and they have the list. It doesn’t matter – if the business you want to implement the joint venture with is relevant, then more than likely the campaign will be a success.

Joint ventures are a great way to earn money and customers for free, so it’s something that you will want to add to your marketing arsenal right away. If you would like to know how to make this technique work for you, then there are some techniques that you will want to learn about. Here’s the first tip for landing your next joint venture (JV) deal.

1) It’s all about the proposal letter

To convince someone to do business with you, you have to send them a whiz-bang proposal letter. Your letter should state your intent, and how you plan about going to make the JV work for the both of you. The main thing that you have to remember is that these people are busy.

Get straight to the point and share reasons why a joint venture would be in the best interest for the both of you. It may help to quickly look at a swipe file for inspirations on how to start your proposal letter. A swipe file is simply a collection of winning ads and sales letters, and is something that you should look over every time you create a new advertising piece.

Here’s something else that you will want to consider before running your JV campaign:

2) A good commission rate

If you really want to get the attention of your joint venture letter, offer them a commission rate that is high enough for them. Typically, a joint venture commission rate should be around 60% – 65% of the profits. If you think this is enough, just think about all of the repeat customers you’ll be getting once the deal is underway.

80% of your sales will come from backend sales, so the customers that you’ll be getting will be worth a tremendous amount of value for you. Just keep going hard and strong with your joint venture campaign, and you’ll be able to make more money in your business starting today.

Here’s the last thing that you should consider when doing JV deals:

3) Make it easy for them

Your potential partners are busy, and the more you can automate things for them on their behalf, the better. You have to make the JV easy for them to say “yes” to, and this is exactly what this technique will help you to do.

These 3 tips for making joint ventures work are things that you should be putting into use right away in your business. The sooner you can implement these techniques, the faster you’ll be able make this campaign work well for you.

Good luck with making these joint venture tips work for you.