joint venture marketing
If the purpose of JV marketing is to build your business, then you want to be ready for those new customers with effective advertising strategies that motivate them to buy. There is a psychology involved with purchasing that continues to be studies and refined, but a number of basic principles have been established that can help you increase your bottom line.
Consider these motivational factors to see which ones you can incorporate into your JV marketing strategy.
The most basic motivational factor in making purchases is a basic, fundamental need. We need to eat, so we head to the grocery store. We need to get to and from work, so we spend a few hours at a car lot.
When it comes to filling a basic need, most customers shop around for the product that offers them the best value. In these cases, showing how your product blows away the competition may be a good purchase motivator for your customers.
A Perceived Need
Some needs are real and some are all in the head. You may decide you “need” a new printer because your current one runs a little slow. You may decide you “need” a closet organizer because your possessions are jumbled up inside. These perceived needs to not fulfill a basic requirement of survival, but they can make life easier and more convenient. In some cases, you need to showcase the perceived need first, so your customer realizes how much easier his life will be with your product.
We all have them: the desire to show up for work in the hottest car or enjoy a home entertainment system that lacks for nothing. Sometimes our desires get in the way of our needs, so we choose the items we want over the products we must have. To cash in on desire purchases, JV marketers must work to evoke a mood or emotion that inspires the customer to go through with the purchase.
Within these three basic categories, there are fundamental psychological factors that motivate nearly all human decisions. These include:
- A need for more time, through convenience items
- A need for more money, through economically priced items
- A need for knowledge or self-improvement, which can be met through a variety of sources
- A need for love and sex, through products to rekindle your relationships or make you feel more attractive
- A need for security, which can encompass many aspects of the retail market
- A need for comfort, which is filled through a variety of home and entertainment items
Humans also have a need to perpetuate youth, as we have seen through product lines designed to make you look and feel younger from the inside out.
If you can tune into these basic needs, you can find the most effective ways to market your own goods and services, thus making the most of your JV marketing partnerships. When you begin to understand what makes people tick and what motivates them to buy, your advertising will become much more effective and your business will grow.
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.