joint venture marketing
Once you decide to embark on a joint venture, it may seem as though the hardest part of the process will be to find a prospective partner that will prove to be profitable and effective. However, once that partnership is in place, the art of marketing your new union will make all the difference between a joint venture that is successful and one that fizzles all too quickly.
To help you prepare for the marketing aspect of your joint venture, we have 10 low-cost marketing ideas to get you started.
1. Search Engines – Using search engines to boost your rankings on places like Google will bring a lot more traffic to your website with little up-front costs by guiding prospective customers to your website before they see the business down the list.
2. Autoresponders – This technique ensures you don’t let a single prospective customer slip through your fingers by automatically making contact with every individual who contacts you and maintaining that contact to maintain interest in your company.
3. Link Exchanges – So easy to do and so effective when used in the context of a joint venture, link exchanges allow you to exponentially increase traffic to your site through your joint venture partner.
4. Blogs – Establishing a blog for your joint venture is an excellent way to set yourself up as an expert in your field and increase your credibility within your industry.
5. Articles – Also a means of building expertise and credibility, articles can be published at a variety of online publications and e-zines.
6. Email Blitzes – This is a great strategy for reaching a multitude of customers and prospective customers in a single swoop, particularly when the message entails a free sample or special promotion to draw customers to your website.
7. Press Releases – Press releases announcing your new joint venture are a good way to make the general public aware of your new partnership and stir up interest in your goods and services.
8. Social Marketing – Cheap and widely used, there is almost no better vehicle for making your joint venture known than on social networking websites like FaceBook and LinkedIn.
9. Gift Events – You can do these online or from a brick and mortar location, but combining resources to provide prospective customers with free gifts and other incentives is a great way to alert people to your business.
10. Traditional Ads – While many of these methods tend to be a little pricier than online marketing strategies, newspaper and television ads, as well as mass mailings, are still an effective way to reach prospective customers in your immediate area.
There are plenty of inexpensive ways to market your new joint venture to increase the effectiveness and profitability of your partnership. If you are planning to contact a prospective JV partner, it is a good idea to have a few of these strategies ready to present in your initial pitch for your joint venture. Once the partnership is signed and sealed, begin using these strategies right away to promote your joint venture, increase your customer traffic and explode your sales.
christian fea is CEO of Synertegic, Inc. A joint venture marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.
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