joint venture marketing
joint venture marketing
joint venture marketing has become an extremely popular way for small businesses to increase their visibility and maximize profits. When two or more companies combine their resources, it increases the growth potential and marketing opportunities for all parties involved.
A typical start to a joint venture marketing partnership is to place advertising for your products and services on your partner’s site, including links to your website. However, there are additional strategies to implement not as readily recognized that will raise awareness for your joint venture marketing partnership, as well as for your individual business.
Issue News Releases
Issuing news releases is a non-invasive way to get information to your clients about your business, and provides a gentle reminder that it may be time to order again. Now that you have a joint venture marketing partnership, there are a variety of ways to fit regular news releases into the regular fold of your business. You may choose to issue a news release once a month, but have each member of your partnership be responsible for alternating months. For instance, if you have a small partnership with only a couple members that would mean each company would be responsible for six news releases per year. In this way you can alternate months so the business of putting out a news release won’t be too time consuming or overwhelming.
The beauty of a news release is twofold: first it provides information to your customer base about your company and secondly it creates additional advertising. Structuring the news releases can be done in a variety of ways. You may choose to have the news release cover just the author’s company, or each month includes news of all the joint venture marketing partners. With the news release will come advertising and links to your partners’ sites. In this capacity, even if the news release doesn’t contain specific information about your company that particular month, the advertising will mention your business, products or services and draw attention to your company.
How to Integrate the News Release into JV Marketing
The most common way to integrate a news release into a joint venture marketing partnership is to have the subject of that month’s news release contain only information and news about the authoring company. This means that your business assumes the burden of writing a news release every other month, but you gain the benefit of extra advertising every time a news release is issued. If you have multiple marketing partners, your authorship responsibility will decrease according to the number of partners, but the additional marketing benefits will remain intact.
Another way to capitalize on your news releases is to send them to print and web periodicals in your industry. They may not get released or published each month, but that will be at the discretion of the publisher. The important thing is to try to increase the circulation of your news releases (including the links and advertising) once they have been written. Once the work of writing the promotional news releases has been completed, you’ve got nothing to lose by trying to increase the distribution of them!