Increase Your JV Profits by Paying For Advertising Results

How would you like to save money on advertising AND make more money? Your joint venture is a business vehicle that lives or dies by the bottom line. Doesn’t it make sense to use win-win methods that help your JV grow and become profitable? That’s why results-based advertising can help your JV increase sales while reducing your marketing budget.

Why pay for advertising when you get zero sales and no quantifiable leads? It ends up becoming wasted advertising, wasted money lost forever. “Results-based” means you only pay when you see results. It puts you at less risk to waste money, and your advertisers end up making more money than a set, pre-determined fee.

Results-Based Advertising

Your advertising budget can get inflated quickly. Print, radio, and TV ads can add up to tens of thousands of dollars in a short time. What you need is a method that helps retain dollars in your bank account until you are able to attract and convert leads from advertisements.

Pay Per Click - The Internet has become one of the most-used advertising systems in the world. Pay per click advertising uses prominent search engines to get your JV business on top of search results for specific keywords and phrases. You simply make a bid on certain keywords for which your ad should appear. And when a user clicks on your paid sponsor link to your Internet landing page, only then do you pay for the advertising. This system is easy and can generate thousands, or depending on the keyword, even millions of potential leads.

Pay Per Call – Similar to pay per click, this system provides an actual phone number rather than a website link in the paid ad. When a user makes a search and finds your ad, they call your JV business directly for more information. Your telephone sales staff then has the opportunity to gather information about the customer/client, and formulate a sales pitch to meet their needs. Pay per call is more expensive than pay per click, but the sales conversion ratio is much better at 45 percent, compared to about 3 percent for pay per click.

Results-Based Advertising - During a recession, advertising space grows. Magazines, newspapers, TV stations all have trouble selling space and time when the economy is down. As a result, advertisers become motivated to sell space at a discount rather than lose money.

When you talk to advertisers about purchasing space or time on their platform, do you ask them whether they believe your JV business will see sales by advertising with them? And if the answer is “yes,” then you can progress to discussions of another type of joint venture with them.

Using a similar method from pay per click or pay per call, offer to pay the advertiser a pre-determined fee or commission only when a quantifiable lead comes to your JV business. You can set up the lead generation so that the advertiser can track them. With every lead that comes from their advertising space, you pay them a set fee. This could result in higher fees for the advertiser, while reducing your risk for ineffective advertising.

Make the most out of your precious marketing budget for your JV. Start utilizing a system that makes advertisers work for you with a focused, results-based advertising.  The results can be more profit for you and your advertisers.

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.

To discover more Joint Venture Marketing Strategies join his free Joint Venture Marketing Wealth Report.

Twitter Weekly Updates for 2009-09-27

• MySpace becomes a massive Twitter app. http://TwitPWR.com/sgU/ #
• 8 Companies every marketing pilgrim should know about. Andy Beal at MarketingPilgrim.com. http://TwitPWR.com/sgW/ #
• How to stand out in a crowded niche. Jonathan Morrow. http://TwitPWR.com/shI/ #
• Beyond tired. Great article about fatigue and how to deal with it. Anthony L. Komaroff, MD. http://TwitPWR.com/r7L/ #
• Frustrating. Ping.fm not posting to Facebook #
• ohsodhifsohosdhgosh #
• Finding your village of customers. Sonia Simone. http://TwitPWR.com/rqJ/ #
• @crakowitz Good to know. I've been driving myself crazy trying to get it to work. in reply to crakowitz #
• @Randy_Gage I wish it was that simple. Thanks! in reply to Randy_Gage #
• "The future you see is the future you get." – Robert G Allen #
• Use business psychology to help your joint venture succeed. http://TwitPWR.com/siw/ #
• How to stand out in a crowded niche. Jonathan Morrow. http://TwitPWR.com/shI/ #
• The complete newbie’s guide to marketing. Sonia Simone. http://TwitPWR.com/shK/ #
• Use business psychology to help your joint venture succeed. http://TwitPWR.com/siw/ #
• Brand yourself before someone else brands you. Dan Schawbel. http://TwitPWR.com/si4/ #
• Mister-Wong.com now integrates Twitter streams to user profiles. http://TwitPWR.com/si6/ #
• Use business psychology to help your joint venture succeed. http://TwitPWR.com/siw/ #
• Scoring with social media. 6 tips for using analytics. Alexandra Samuel at HarvardBusiness.org. http://TwitPWR.com/si1/ #
• 8 Ways doing less can transform your work & life. Leo Babauta. http://TwitPWR.com/sif/ #
• Mashable’s weekly social media conference & event guide. http://TwitPWR.com/sig/ #
• Top 5 business blogging mistakes and how to avoid them. Josh Catone. http://TwitPWR.com/sii/ #
• Web browser faceoff. Firefox vs. Google Chrome. I prefer Chrome. http://TwitPWR.com/snZ/ #
• @AaronSandifer Hopefully soon. in reply to AaronSandifer #
• @erincarrasco yes there are some issues with Chrome, but it's soooo fast! in reply to erincarrasco #
• 21 must-follow tips for optimizing time spent In social media. Adam Singer. http://TwitPWR.com/so3/ #
• How to set up a winning Facebook Fan Page. http://TwitPWR.com/snY/ #
• 5 Ways to share your story online with confidence. Steve Errey. http://TwitPWR.com/so0/ #
• Great resource! 100+ search marketing resources to learn SEO & PPC. Lee Odden at toprankblog.com. http://TwitPWR.com/so1/ #
• 5 Tips for avoiding the deadly sins of SEO copywriting. Michelle Bowles. http://TwitPWR.com/so2/ #
• "Great minds think alike" #
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• Increase sales with results-based compensation. http://TwitPWR.com/sv4/ #
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• Twitter worm spreading via direct messages. http://TwitPWR.com/svM/ #
• The hidden goldmine within the LinkedIn companies tab. Liz Lynch. http://TwitPWR.com/svQ/ #
• RT @dahara: " Yesterday is history. Tomorrow is a mystery. Today is a gift. That's why it's called the present. " Words to live by! #
• Increase sales with results-based compensation. http://TwitPWR.com/sv4/ #
• How to find readers for a business blog. Darren Rowse. http://TwitPWR.com/svR/ #
• Proactive social media. Filling the information space with great content. Brian Solis. http://TwitPWR.com/svT/ #
• Increase sales with results-based compensation. http://TwitPWR.com/sv4/ #
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• Personal brand audit. What’s your Facebook score? Pete Kistler. http://TwitPWR.com/svV/ #
• Increase sales with results-based compensation. http://TwitPWR.com/sv4/ #
• How to greet defeat and come back richer. Nance Rosen at PersonalBrandingBlog.com. http://TwitPWR.com/svW/ #
• 9 Things to do to make sure your next blog post is read by more than your mom. LOL. Great tips from Darren Rowse. http://TwitPWR.com/sw1/ #
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• Top 10 blogs for writers 2009. Sonia Simone at CopyBlogger.com. http://TwitPWR.com/sHE/ #
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• How I got 294 comments with one blog post. Jonathan Morrow. http://TwitPWR.com/sHF/ #
• Top 10 blogs for writers 2009. Sonia Simone at CopyBlogger.com. http://TwitPWR.com/sHE/ #

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Increase Sales With Results-Based Compensation

Why pay salespeople who are not motivated or do not make adequate sales? If your joint venture product or service depends upon face-to-face or direct contact with potential customers and clients, you should consider using a results-based compensation system.

Auto dealers do it. Real estate agents earn it. Corporations pay brokers with it. What is it? Commissions. People who meet face-to-face or talk directly with a potential lead earn their keep by commissions. They close a sale and enjoy commission earned.

A set salary can become un-motivational when sales staffs realize that they still get paid regardless of whether a sale is made. If you use in-house staff, set up a motivational compensation system that pays them a percentage of every sale they make. Set sales goals so that each staff has a purpose and destination to reach with total sales. And incorporate bonuses for meeting and exceeding goals.

This type of results-based compensation will ultimately bring your JV sales staff greater salaries, and ensure that you hire and retain the best sales force available. If you prefer not to have in-house staff and your JV product or service can use an independent contractor, such as a licensed broker, set up a similar compensation system with them.

Structure for Results-Based Compensation

Simple Gross Percentage - This is the easiest type of results-based compensation structure. When a salesperson makes a sale, a percentage of the total sale goes back to the seller. For instance, if one of your sales staff makes a $5,000 sale with a 10% commission, they earn $500 for that transaction.

Gross percentage can be tiered as the value of the product or service increases. For instance, you may pay a commission of 10% for items valuing $0-$999, 8% for items $1,000-$4,999, 6% for items $5,000-$9,999, etc. You can structure a tiered commission any way you like to motivate your sales staff, and when items increase in value, so does the commission percentage.

Residual Commission Income – Many JV businesses are offering not a product but a continual service. Service subscriptions are the way these businesses make money. When a customer subscribes, they pay a fee, usually on a monthly basis to have continual access to the service. The more subscriptions gathered, the more income your joint venture can realize.

Salespeople can be motivated to sell subscriptions for a residual commission fee. Every time they sell a subscription, they receive a portion of the monthly service fee for as long as the customer remains a subscriber. With this type of result-based compensation, a salesperson may have unlimited income potential.

Bonus - Bonuses are important for sales staff to remain motivated. As well as receiving compensation for each sale, a salesperson can earn a pre-specified bonus for meeting sales goals. A bonus could be cash, or something else of value such as an automobile, a Hawaiian vacation, or even stock options if your JV structure is a corporation.

Be wary of how you pay your people to sell what your JV produces. With results-based compensation, your income grows, and you attract the most talented and motivated sales staff. Make sure your JV business compensation is win-win.

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.

To discover more Joint Venture Marketing Strategies join his free Joint Venture Marketing Wealth Report.

Use Business Psychology to Help Your JV Succeed

Business psychology is one of the fastest-growing and exciting areas of business application. Major colleges and universities are creating undergraduate and graduate programs that deal specifically with business psychology. Business leaders in larger corporations are finding that business psychology helps their organizations perform more efficiently and run at optimum levels.

Business psychology can be a vital factor to the success of your joint venture since psychology plays a part in every person-to-person transaction you perform. Here are some of the important ways your JV can grow and succeed when you implement positive business psychology:

Relationship Building

Starting with your own JV partner, you must form, build, and maintain business relationships. Your relationship with your JV partner needs to be cooperative, progressive, and encourage creativity. You’re a team, and teamwork is the ability to work together toward a common goal.

• Interpersonal skills - How do you communicate with people? Does your approach make others feel welcome and receptive, or chastised and put down? Interpersonal communication is a skill and sometimes needs to be learned, honed, and practiced. Learn to be able to communicate effectively with business partners, customers, and employees.

• Build lasting relationships – Using your interpersonal skills along with your personality, you must build relationships in order for your JV to succeed. Talk to others. Make friends and acquaintances. Network. Even shy and introverted individuals can learn to use their strengths to build relationships that help their respective businesses succeed and be a pleasure to with whom to work.

• Teamwork – Are you a team player? Or do you play by your own rules? If you want to build your JV business relationships, be prepared to leave your ego behind and contribute to the greater good of the team. It is important for every member of a team to contribute. And even if you are the leader, your job is to encourage that contribution from everyone and help them do their best, rather than an autocratic “do it my way” approach.

Networking

Whatever your JV business, networking will help you and your JV partner experience growth better than simply hanging out the proverbial shingle and advertising. People carry news to other people more effectively than any other method. Be sure you use positive business psychology and your relationship building techniques to help promote your JV through networking with other business owners, customers, and anyone who can potentially put in a good word about your business.

Professional Development

What about your own professional development? Take classes in business psychology, interpersonal skills, or even classes that can help you work through shyness. Many community colleges offer such classes usually at cheap tuition. Other for-profit companies offer professional development for reasonable prices. Take the time to develop your business psychological skills with your own personal development training program.

Business psychology, whether you recognize it or not, is employed continually around any business. Don’t let it work against you. Develop your business psychology skills so your JV can grow and prosper.

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.

To discover more Joint Venture Marketing Strategies join his free Joint Venture Marketing Wealth Report.

Twitter Weekly Updates for 2009-09-20

• @kickzqueen1 Glad you like it! in reply to kickzqueen1 #
• 18 Million Twitter users by end of 2009. http://TwitPWR.com/rC9/ #
• Mashable’s weekly guide to social media conferences & events. http://TwitPWR.com/rCa/ #
• 3 joint venture marketing techniques that work. http://TwitPWR.com/rD2/ #
• Which ad strategy Is right for you? Rosalind Resnick. http://TwitPWR.com/rCc/ #
• Is your PR firm ready for digital marketing? Brian Solis. http://TwitPWR.com/rCf/ #
• 3 joint venture marketing techniques that work. http://TwitPWR.com/rD2/ #
• For entrepreneurs, every day is game day. Monica Tate-Maile at HarvardBusiness.org. http://TwitPWR.com/rCg/ #
• Twitter tweaks Terms Of Service — paves way for advertising. http://TwitPWR.com/rCC/ #
• 3 joint venture marketing techniques that work. http://TwitPWR.com/rD2/ #
• Value propositions that work. Anthony Tjan. http://TwitPWR.com/rCA/ #
• 3 joint venture marketing techniques that work. http://TwitPWR.com/rD2/ #
• Facebook is going for some Twitter sensibility. Claire Cain Miller. http://TwitPWR.com/rCD/ #
• A successful life is one that is lived through understanding & pursuing one's own path, not chasing after the dreams of others. Chin-Nin … #
• How to use Twitter so it doesn’t suck up your time and attention. http://TwitPWR.com/rCB/ #
• New ways to engage customers. Kim T. Gordon at entrepreneur.com. http://TwitPWR.com/rCE/ #
• Shorter is better. An even shorter URL shortener for Twitter. http://TwitPWR.com/r78/ #
• 5 sure-fire sources for headline inspiration. Dave Navarro at CopyBlogger.com. http://TwitPWR.com/r7a/ #
• 5 tips for gaining subscribers to your blog. Michelle Bowles. http://TwitPWR.com/r7e/ #
• How small businesses win big in tough economies. Jeff Stibel at HarvardBusiness.org. http://TwitPWR.com/r7t/ #
• 5 SEO pitfalls to avoid. TopRankBlog.com. http://TwitPWR.com/r7j/ #
• 3 Best ways to convert web traffic into sales. Raymund Flandez. http://TwitPWR.com/r7i/ #
• Beyond tired. Great article about fatigue and how to deal with it. Anthony L. Komaroff, MD. http://TwitPWR.com/r7L/ #
• 3 joint venture marketing strategies during a recession. http://TwitPWR.com/rPw/ #
• A simple approach to a large project: By the mile it's a trial, by the inch, it's a cinch! Break your project down into small attainable … #
• Proactive social media. Filling the information space with great content. Brian Solis. http://TwitPWR.com/r7m/ #
• 3 joint venture marketing strategies during a recession. http://TwitPWR.com/rPw/ #
• Motivational tweets. 25 of the most inspiring users on Twitter. http://TwitPWR.com/rX0/ #
• How to find readers for a business blog. Darren Rowse. http://TwitPWR.com/rWY/ #
• To multitask effectively, focus on value, not volume. Ron Ashkenas at HarvardBusiness.org. http://TwitPWR.com/rk8/ #
• Facebook tags now connect people, pages and groups through updates. Brian Solis. http://TwitPWR.com/rX9/ #
• How to organize your iPhone apps with iTunes 9. http://TwitPWR.com/rk9/ #
• Take charge of your small business with these 5 uncompromising tips. George Cloutie at Entrepreneur.com. http://TwitPWR.com/rka/ #
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• How to use lean marketing tactics to grow your business during lean times. Carol Tice entrepreneur.com. http://TwitPWR.com/rkc/ #
• Control your cash flow. 5 ways to reduce your vulnerability during the credit crunch. Elizabeth Wilson. http://TwitPWR.com/rkd/ #
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• Your joint venture consumer psychological strategy. http://TwitPWR.com/s3U/ #
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• Your joint venture consumer psychological strategy. http://TwitPWR.com/s3U/ #
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• Your joint venture consumer psychological strategy. http://TwitPWR.com/s3U/ #
• "There is only one success–to be able to spend your life in your own way." – Christopher Morley #
• To multitask effectively, focus on value, not volume. Ron Ashkenas at HarvardBusiness.org. http://TwitPWR.com/rk8/ #

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