joint venture marketing
joint venture marketing
Consumers are utilizing mobile devices more than ever today for online shopping, sharing photos, videos and messages. Developing a mobile marketing strategy with a joint venture marketing partner is an excellent way to reach customers and connect with these consumers in a fashion that’s innovative and can provide a rich engagement between customer and the brand. There are several ways to participate in the growing mobile marketing industry and find new customers that fit specific demographics. Partnering with an app development company or creating an ad marketing campaign is the easiest method of quickly reaching audiences of the iPhone and/or Android market. Another method could be developing an app either with a partner or on your own. It’s not always an easy choice which path to go and larger companies may experiment with both options.
Advertise / Sponsor
By far the easiest method of engaging with the mobile app user community is to become an advertiser or sponsor with a mobile app or mobile advertising company that can provide impressions on thousands of different sites in a fashion similar to Google Adwords. Mobile networks provide a platform that will allow you to place ads in a multitude of different locations. Work with a joint venture partner that’s seeking to gain access to specific demographics and create a co-branded marketing campaign or sell a solution that both partners can benefit from through the ad campaign.
Top 5 Mobile Advertising Networks
- Admob by Google very large network
- Mojiva has the capability for a small business owner to create a page easily that will display on mobile devices well
- InMobi Large network that delivers rich content ads
- ValueClick Large mobile and iPad presence
- MilleninalMedia Long standing mobile advertising platform
Sponsoring an app can also be part of a joint venture marketing agreement for both parties to find new customers. There are dozens of mutually beneficial marketing scenarios that could present themselves depending on the industry of the company seeking a mobile strategy to reach a target audience. Many app developers also benefit greatly through promotion of their apps and may be interested in doing shared marketing to each other’s customers for a period of time. Most developers are not large companies with significant resources and could likely be open to creative marketing strategies. These types of trades for marketing can be done on a one to one basis with independent mobile developers that have an app that fits your niche as well.
Depending on the app developer there may need to be a financial payment for advertising for a period of time on a free app, however this can still be an effective way to saturate a brands presence with a targeted demographic.
Building an app can be tricky. In order for it to be successful the app needs to be providing true value to customers on several levels instead of just being an app to promote a brand or product. With the right marketing partner an app can be created that drives interest in both the app and then subsequently the company which in turn leads to finding new customers that are willing to buy. An app can cost anywhere from a few hours of time to $25,000 plus, so it’s wise to think a strategy through completely and brainstorm how you and your partners plan on rolling out the app to existing customers and a wider audience as a whole.
The quickest and easiest solution is to use a service like Appmakr that can help anyone develop an app with no coding required. There are several precise steps that must be followed but an app can be built quickly with many different modules available from video to rss feeds.
Hire a mobile development team to take the project from start to finish. This is the wisest solution but will cost you in resources. This is why developing a co-branded solution with a joint venture marketing partner is the best approach to reduce the costs on both parties. As long as the relationship has been structured properly then everyone can benefit from the creation of a mobile app to reach and engage with the right potential new customers.
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.