joint venture marketing joint venture marketing When you begin the search for potential JV partners, you may start by looking at businesses comparable in size to your own. However, bigger is usually better when evaluating joint venture partners. These larger, more established businesses provide more opportunity for you to attract customers and boost your sales.
joint venture marketing
joint venture marketing
When you begin the search for potential JV partners, you may start by looking at businesses comparable in size to your own. However, bigger is usually better when evaluating joint venture partners. These larger, more established businesses provide more opportunity for you to attract customers and boost your sales.
Consider these five reasons why bigger is better when it comes to potential JV partners.
Larger companies tend to have more customers visiting their business and their website. If your business is posted alongside this larger company, you’ll receive the benefits of additional exposure. Bigger companies mean more website traffic and more potential clicks for you. Why choose a business that gets similar traffic size to your own company when you can surf the Internet with a big Kahuna?
Bigger companies are generally more established, and therefore have a better reputation than smaller counterparts. When your JV partner boasts an excellent reputation in terms of the quality of their goods and service, you are looked upon more favorably as well. Companies similar in size to yours are facing the same struggles in terms of boosting their reputation in the community. Why struggle together when you can choose to ride the coattails of a popular and established company instead?
Increased Marketing Opportunities
Bigger companies have larger advertising budgets as a general rule, so your marketing opportunities increase exponentially with an established business. Your JV partner may already have memberships to e-zine networks and may have connections to advertisers who know how to get results. Capitalize on the efforts of someone who has gone before you with a bigger, more effective marketing campaign.
More Extensive Customer Lists
It stands to reason that bigger business boast more customers, and more customers mean longer customer lists for you. If your JV marketing campaign includes an email or snail mail blitz to all the current customers of your joint venture partner, think of how many more will be seeing the name of your business if you are working with a larger business. Big businesses give you the biggest bang for your advertising buck by reaching a larger number of potential customers with limited cost involved.
To sum up, more exposure, reputation, marketing and customer lists result in increased sales for you. Of course, the increase is not a given, no matter how large your JV partner might be. You will have to back up your efforts with effective advertising, well written text around the Internet, and high quality products and services when customers finally contact your business. However, a bigger JV partner gets you started on the right foot by exponentially increasing your marketing efforts through the sheer size of their company.
JV partners come in a wide variety of sizes, but bigger is usually better if you want your joint venture marketing efforts to reap the best results. Choose larger companies and offer them a significant percentage of your sales to attract them at the beginning. You will recoup your charges tenfold with an increase in customers and sales overall.
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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