I can bet you'll see sales in less than 24 hours if it's a quality joint venture partner. My previous Joint Venture Partner generated US $21,492 sales in just couple of days by just mailing to his list.
I said it's the best way, but I did not say it's the easiest way. In fact, it's one of the toughest ways to achieve this strategy. But -- It's very rewarding. Getting someone to consider promoting your product is a lot of work. I can't teach all of the joint venture tips in this short content because it'll take a book or course to teach this. However, I can tell you how to avoid the big mistake and increase your result.
Most people send out joint venture proposals to the wrong JV Partners and lose doing business with them!
You see, I know this because I receive a lot of joint venture proposals. If you're a long-time subscriber of mine, you'll notice that I hardly promote or endorse a third party product. The reason is, most of the time the proposal does not meet the expectations. I won't endorse non-useful products to my subscribers. Never even if I'm paid 100% commission because it's important that the products recommended will help my subscribers to make money online.
The major mistake I've seen is people are trying to joint venture with partners that have a head-to-head competing product rather than one complimenting the joint venture's existing product!
Example, I have an audio course about niche marketing. At the same time, I'm currently selling other niche marketing courses that I have resale rights to. Then I have a coaching program on this topic as well. So, what's the possibility of me promoting someone else's niche marketing course?
Rarely unless there are other perks involved. But let's say the major influence of considering the offer is to make affiliate commission. That would be my LAST PRIORITY to promote a product that is my competitor and in conflict with what I'm teaching!
Most people approach joint venture partners to promote a product that is competing with the joint venture's existing product.
So what kind of products might I want to promote that compliment the products that I have?
In this case, I might consider promoting niche private labels rights to my subscribers if I'm teaching niche marketing. Or maybe, software to locate niche markets from the internet. Basically, I'll consider promoting products that are complimentary, NOT COMPETING.
Seek joint venture partners that have complimenting products to yours.
Like, if you're selling a blogging software, your ideal joint venture partners would be people who sell courses on how to make money online from blogging.
Make sense?
In this case, I would be able to sell some blogging software as a JV Partner but you'll definitely get better result by contacting a more targeted partner. You see, the efforts you have to put in are the same... so why not approach a more qualified partner like someone who is in the "How to blog" niche?
You still want to approach as many joint venture partners as possible, but start with the more targeted potential partners first because it'll be more effective.
Let me give you another example so that you can relate. If your ebook title is "77 Ways To Potting Train Your Dog", your suitable and quality Joint Venture Partner would be the author of "How To Train Your Dog To Sit And Fetch" because his customer would be interested in your ebook.
Of course, this concept will NOT be applicable if there are other influences in getting the joint venture to agree to the promotion. Other influences can be relationship, high affiliate commission, 2-way JV swap, unique product, additional benefits, free product access, etc.
Finding complimentary product is just one of the important keys of selecting a Joint Venture Partner successfully.
When other influences are in the picture, a joint venture might consider promoting a competing product of his. That's normal and ... logical.
So, are you seeking quality joint venture partners?
Another tip about seeking joint ventures is, start small if you're just starting out. Don't approach the 'big boys' of your niche market when you're starting out no matter how tempting it is. Get the ball rolling first because if you spoil your first impression when you approach them, you're risking to lose doing business with them forever. Get a few small deals done and you'll be more motivated and inspired to keep it growing. Then, go for the "BIG BOYS" and offer a win/win deal for them.
You will have to know how to play with the psychology of your customers so that your products can be sold. This is the basic idea of marketing and sales. Your efforts should be directed in such a way that you make yourself influential in the decision making of the customer. They decide totally in favor of the company. There are some activities to influence the mind of the customers. These tricks can be used by sales person and also by larger firms. Even though these tricks are used by larger firms unknowingly but still there is not list set.
Common interchanging is the first and influential trick. The company has to start by giving something free to the customer. He may take it for the first time. But as when he gets the chance for the same he will feel as if he is obliged towards your company and then he will decide to buy your product. Extending the product free at first can do this. And if the customer is content with the product, he will purchase it for himself the next time.
Some of them do not agree with this principle. They say that it is a wrong method. While some say that it is ineffective as you are asking your customer to spend something to get something. If you want to get your customers attracted towards your product then you must give them absolutely free. Your free product should not have any tag like buy two get one free.
The next procedure is to offer something of high value where the company does not spend anything in producing them. It will tempt the customers and they will feel as if they have got some secret information which no one else knows. Remember that this trick will work only if the information is really valuable and not another ad. You can also try by giving free samples to targeted customers. But some companies make a mistake by giving a good sample and making the actual product of low quality. This makes the customer loose his/her faith and they do not buy any more of that product.
Some phrases like "offer ends soon", "offer only till stock lasts", "limited time offer" can be used intelligently and effectively. The customers think that the product will really not last so they rush to make their purchase of the product. This works well particularly with consumers who have awareness in gathering old-timers, collectibles and things which cannot be easily available.
The next trick is to make the customer take little steps towards the purchase of the product without his knowledge. When ever a customer asks for information then you should provide them free information. During this time get their contact addresses and then make use of it later on to inform the customer of your products.
Both Ghanshyam Gupta & Jitendra Singh Sendhav are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.