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If they are done right Joint Ventures can help you start making money almost immediately online. If you're not sure what a joint venture is, let me explain - here's how it works in very simplistic form : * A has a product which he wants to get to the market * B has a list which targets just the right market for A's product * A finds B and sets up a Joint Venture with B * B promotes A's product to his list * A and B both share the profits from sales of the product It's a total win/win arrangement for them both. But where do you find the people to JV with? Identifying potential Joint Venture (JV) partners for your Niche Business is relatively easy online as there are so many places to locate them. Here's a few examples : * keyword search on major search engines e.g. Google * e-zine directories e.g. The Directory of Ezines * business directories e.g. Business.com * topic organized directories e.g. DMOZ.org To do the job properly you need to take an organised and structured approach to finding your potential JV partners. Set aside a specific amount of time each day to seek them out. Collect as much information as you can on them and collate it in a spreadsheet. The sort of information you should collect is: * Contact information - name, email, telephone etc. * Web site URL * A brief description of their web site Once you've collected a decent sized list, it's time to make contact. >> Contacting Potential JV Partners << As you go through your data, you'll see that some sites contain detailed contact information, including a phone number, while others only post their email address. You should make contact first by phone whenever possible. Not only does this approach show your sincerity, it will cut back on the time you spend waiting for the business owner to wade through all of their emails and respond to yours. Your first phone call should be direct and personal. Make sure you have your target's website open in your browser to view as you speak to him. Your introduction should be something like this: 'Hi, this is John Doe, owner of xyz.com. Do you have a few moments? I'm looking at your site, abc.com, and really like what I see. It looks like our businesses have a lot in common. I think my customers would love your product, and yours might be interested in mine as well. Would you be willing to consider the possibility of teaming up to create a special offer for your customers?' At this point back off and let the other party speak. If they aren't interested, thank them for their time and move on. If they bite, then you can continue your pitch and provide a run down on what you'd like to offer them and what you're requesting in return: 'I'm ready to offer you 60% commission on all sales in exchange for endorsing my product to your list.' 'I'm ready to offer you full access to my existing customer list in exchange for an up sell placement of my product on your order page' Etc.. You should use this format in your e-mail introductions as well. However, you'll need to provide some very compelling reasons in your first contact message in order to generate a response. Remember, e-mail is less personal than a phone call and this will impact your prospect's psychological response to your offer. The best way to grab their attention when you contact potetial Joint Venture partners via e-mail is to make it clear from the outset that you want to create a 'win-win' situation – in fact, create a 'win-win' situation 'slanted in their favor'. Offer to provide them with a free copy of your product for evaluation. Let them know exactly when, where and how to contact you and suggest a follow up phone call. >> Persistence Will Win The Day << Like every other sales situation (Yes it 'is' a sales situation - you're trying to sell an idea, right?) it's unlikely that you will strike lucky straight away, rejections are inevitable, but keep plugging away at your list. Be Persistent. It may take a while before you hit on the right JV partner and get the deal you're looking for - don't let yourself get discouraged - keep yourself motivated - keep organised -prioritize your search and make at least two phone calls and send out two or three e-mails every day until you're successfull. >> And Don't Stop There! << Once you've found a JV partner don't stop there. There's no reason why you shouldn't continue making those phone calls and sending out those e-mail offers. Why? Because then you can create multiple JV's for your Niche product(s) with dozens of other businesses, leveraging dozens of customer lists. In fact, if you're feeling really motivated, you can take this process a step further and create 'multi-party' joint ventures - bringing several businesses together to work towards one campaign - remember John Reese and his mill.ion dol.lar sales day not so long ago? - That's power of JVs. Copyright © 2005, André Anthony Niche Market Know-How
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Advice Home Business Technology Online Advertising Motivational Internet Marketing SEO Help Online Games Science Articles Happiness More Articles:1. Business Cards For Everyday People By Frank Owen Think you need to be in business for yourself to make use of a business card? Think again. Today just about anyone can take advantage of the benefits owning business cards to offer. In fact, in many circles business cards are also referred to as personal cards or networking cards. Why the attention? Business cards make introductions easy. They are a great way for promoting a business certainly. You can increase your sales and your client base s… 2. The Silver Bullet For Success: Revealed By Kim A. Castle Looking for the magic formula or the whiz-bang approach that will unlock your business success? Are you willing to pay hundreds for it? How about thousands? Guess what, you are not alone. Just as people, for ages, have searched for the fountain of youth, entrepreneurs and small business owners around the world are looking for the silver bullet for success: that one sure-fire way to achieve the success that they want without doing a thing. … 3. Stretch Your Marketing Reach By Kathleen Gage One of the most cost effective marketing strategies you can utilize is an online newsletter, also referred to as an E-Zine.You can provide valuable content to your customers and potential customers with an E-Zine. The beauty of utilizing the Internet to distribute your information is often people will forward your information to others who have similar interest.The key to success with an E-Zine is consistency in distribution. It won’t be benefi… 4. How to Develop an Effective Company Profile -- and Why By Ann Hackett What is a company profile? A company profile is essentially a resume for your company that you use to establish your credibility with the market you serve. Your company profile helps potential customers to understand your business as well as to understand your company's approach, unique strengths, and relevant experience. Your company profile demonstrates your company's ability to effectively meet customer needs. Your company profile also … |