As a business owner, you may have thought about teaming up with other local businesses to do cross promotions or joint ventures, but the odds are you've never quite gotten around to it. And even if you did do some deals, your results might have been a little under-whelming.
But all is not lost, and regardless of whether or not you have tried to do JV's like this in the past, you should start thinking about how you can get started doing these types of promotions. That's because there are so many benefits, and you're leaving a lot of money on the table if you don't at least test them out in your business.
Here's 5 of the biggest advantages you'll get by doing joint ventures in your local area -
1 - You can set things up so you get the names, email addresses and often the mailing addresses of every person on your joint venture partner's list who buys your product. This will give you multiple chances to offer these proven BUYERS additional, related products for months or years to come. A list of people who have paid for a product is the most valuable business asset you can have, and your list will have cost you virtually nothing to create.
2 - Your product can be on sale to the public much more quickly than it would have been had you gone the typical route of using TV, Radio, and Newspaper ads offline, or using PPC advertising, newsletter advertising, article marketing or SEO online to generate sales.
3 - You can collect testimonials from your new customers, which you can use in your future marketing campaigns. Having this kind of social proof will help you make even more sales.
4 - You'll know exactly what new products to sell as back-end offers because you'll be able to survey your customers and ask for their feedback. You'll get a much more accurate idea of what your market wants to buy if you ask BUYERS as opposed to prospects who haven't purchased anything from you.
5 - Many of your purchasers will also be happy to refer others to you and help you sell even more of your products, and these referral sales cost you nothing to generate.
These 5 advantages are just the tip of the iceberg, but they give you enough reasons to get started with local joint ventures as soon as possible. Just contact a couple of potential joint venture partners to begin with, and do some small test promotions to gauge the results. For most businesses, the benefits of doing these deals far outweigh any problems you could possibly have. Try it for yourself and see.
But all is not lost, and regardless of whether or not you have tried to do JV's like this in the past, you should start thinking about how you can get started doing these types of promotions. That's because there are so many benefits, and you're leaving a lot of money on the table if you don't at least test them out in your business.
Here's 5 of the biggest advantages you'll get by doing joint ventures in your local area -
1 - You can set things up so you get the names, email addresses and often the mailing addresses of every person on your joint venture partner's list who buys your product. This will give you multiple chances to offer these proven BUYERS additional, related products for months or years to come. A list of people who have paid for a product is the most valuable business asset you can have, and your list will have cost you virtually nothing to create.
2 - Your product can be on sale to the public much more quickly than it would have been had you gone the typical route of using TV, Radio, and Newspaper ads offline, or using PPC advertising, newsletter advertising, article marketing or SEO online to generate sales.
3 - You can collect testimonials from your new customers, which you can use in your future marketing campaigns. Having this kind of social proof will help you make even more sales.
4 - You'll know exactly what new products to sell as back-end offers because you'll be able to survey your customers and ask for their feedback. You'll get a much more accurate idea of what your market wants to buy if you ask BUYERS as opposed to prospects who haven't purchased anything from you.
5 - Many of your purchasers will also be happy to refer others to you and help you sell even more of your products, and these referral sales cost you nothing to generate.
These 5 advantages are just the tip of the iceberg, but they give you enough reasons to get started with local joint ventures as soon as possible. Just contact a couple of potential joint venture partners to begin with, and do some small test promotions to gauge the results. For most businesses, the benefits of doing these deals far outweigh any problems you could possibly have. Try it for yourself and see.
About the Author:
Learn more about the accelerate high growth business training being run by Eben Pagan in a couple of weeks. And this short article covers more of the details.
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