joint venture marketing
Are you still thinking about how you could form a joint venture? Thinking too much puts you into a frozen, non-active state also known as “analysis paralysis”. Break out of your inactivity. Start meeting with people who could be a potential JV partner. Sometimes great JV ideas blossom from simply meeting and discussing what one business can do for another.
If you are still stuck in a paralytic state and don’t know how you can take advantage of a joint venture, here are some creative ideas to get you started.
1. Advertise in a Publication
Do you publish an eZines? How about a newsletter? How about your JV partner? Perhaps you could find a JV partner with a regular publication that is sent out to hundreds or even thousands of customers on a mailing list. Ask to put an advertisement for your product or service in his publication and offer to share a portion of every sale made from his clients or customers. Don’t forget that you can do the same in your own publications for your JV partner.
2. Share Your Network (and vice versa)
Have you ever had a junk swap? It can be a fun event where you and some friends get together and bring books, DVDs, CDs and other possessions you don’t need or want. The fun begins when your unwanted items become treasures for others, and you find some great possessions in return.
You can do something similar with a JV partner. Get together and agree to share your network and/or customer contacts. You may find that getting a sales letter to your JV partner’s contacts results in a slew of new business. And your contacts may be thirsty for something your JV partner offers.
3. Display Your Creative Products in Your JV Partner’s Space
Do you make artistic or crafty products? Ask a potential JV partner if you can display your creative wares in her store. Sculptures, photographs, drawings, paintings – these all are great to display in places like restaurants where a regular audience comes in and gets to observe your creativity while they enjoy a meal. Oftentimes a sale will result from an interested party. You share the profits with the restaurant owner and sell more of your creative efforts.
4. Share a Booth at a Trade Show
Trade shows are a great place to meet new contacts and find new customers or distributors. However, the costs for booth space can sometimes be prohibitive. Why not find a JV partner with a complementary business to yours and offer to share a space? Sharing a space reduces the cost for both partners, you get to attend the trade show or conference to promote your business, and you can even come up with creative ideas for booth decoration and display.
These are just a few ideas that all fit into a joint venture situation. You don’t have to stop here! Research other ideas and come up with some of your own. A JV doesn’t have to be complicated, but with some creativity, you can form a JV that results in more sales for both parties.
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.