joint venture marketing
One of the most popular types of joint ventures today is the online partnership that allows you to maximize your marketing opportunities via the Internet. Because online businesses have become the wave of the future today, it seems only fitting that the online joint venture would be the most effective way to build your website traffic and boost your sales.
With the above said, consider these five ways to make the most of your online JV.
Combined Email Lists
When you combine email lists with another Internet business, you can contact twice as many customers with the same initial effort. If opt-in lists are your top priority, look for a company that already has an established list to offer. Bigger email lists give you a bigger target market right from the get-go, and then it’s up to you to transform those new customers into loyal patrons after the initial contact.
Customers love the idea of getting a bargain, and product bundles usually give the impression the customer is getting a lot of product for a good price. When you combine your product bundle with items from your JV partner, you sweeten your offering while attracting additional customers from your partner at the same time.
Split the cost of marketing your bundles, and you get a better value for your dollar. This approach might work particularly well with items that don’t sell as well on their own.
When you own a business that provides a product or service, you automatically become an “expert” in your industry. Combine your expertise with that of your joint venture partner to produce promotional material that educates and sells at the same time. Whether you work together to produce a few articles for e-zines or put out an e-book in your niche, you can attract plenty of new customers who want to learn something new about your product or service.
Endorsement and testimonials are powerful selling tools for online businesses, particularly when those endorsements and testimonials come from another trusted company. When you and your JV partner offer endorsements for one another, the customers that are loyal to your company automatically develop confidence in your partner’s business as well.
It’s very easy to add testimonials or endorsements to your websites and other promotional material you send out to current customers.
Virtual Trade Shows
Just like brick and mortar trade shows are an effective way to bring new customers to your business, virtual trade shows can bring people together online that are specifically interested in your goods or services. When you combine forces, you can present a much larger trade show that attracts even more potential clients. Since you can also split the cost of the show itself, as well as the promotion of the event, you get a better value for your advertising dollar.
Online joint ventures are a powerful way to build a virtual business today. With these tools in hand, as well as the right JV partner, you can be on your way to boosting your profits, customer base and bottom line.
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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