joint venture marketing
When you begin building joint ventures, finding good partners can be the biggest hurdle in the process. You will be spending plenty of time on the computer and phone and knocking on doors to establish JV partnerships.
Thankfully, we have a few places to begin looking when you are ready to compile a list of prospective JV partners.
Searching the Search Engines
Yes, it can be tedious and time consuming, but the search engines are often the best place to begin looking for businesses in your niche. Begin by choosing keywords for your business and then plugging in “joint venture” or “affiliate marketing” to find businesses interested in this type of approach. You will probably get more hits than you ever have time to follow up on.
The advantage to this approach is the large numbers of prospects you might find. The drawback is that you won’t have a connection to any of these businesses, which might make it harder to land an actual partnership.
Using Social Media
Whether you head to the websites of businesses you are interested in or look for websites specifically designed to bring JV partners together, social media is a great way to make professional connections. Facebook, MySpace and LinkedIn are all good social websites to try, although LinkedIn is specifically geared toward a professional market.
The advantage to this approach is that many professionals are on social media sites today, allowing you to connect with many different companies relatively quickly. Social media tends to build “relationships” on some level, so you may be able to overcome some of the impersonal barriers listed above using these tools.
Seminars and Trade Shows
Face-to-face meetings may be more effective than virtual connections, especially if you establish credibility by hosting your own booth at an event. Keep your business cards handy and pass them out freely to business owners who appear to be good JV prospects. This might include other booth owners, as well as those in the crowd who stop to ask questions about your company.
The biggest advantage to this approach, aside from the personal meetings you enjoy, is the fact that everyone at the seminar you choose will probably be in a related business to your own.
JV Membership Sites
There are also websites you can join for the express purpose of locating JV partners. These websites may have a list of prospective partners that are specifically interested in helping smaller businesses promote themselves through joint ventures. When you join, you write up a joint venture proposal that you can submit to the companies you are most interested in, and then you can sit back and wait for their responses to come in.
The biggest advantage to this approach is that you are automatically connected to businesses interested in joint ventures. However, monthly fees can be costly, so choose a membership site that has a proven track record for success.
Finding JV partners is the first step to success, but it can be easier said than done. With these avenues in mind, you have greater odds for locating prospective partners that can effectively promote your business.
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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