joint venture marketing
What is your joint venture brand? Don’t have one? You should. From the moment that you and your JV partner agreed to venture forth together, you should have been developing the branding idea as well as the product idea.
What is branding? You can walk into a retail grocery store and find many brands of products. In the cereal aisle, you may find brands of Kellogg’s, Post, or General Mills. In the coffee section, you may find brands such as Folgers, MJB, or Maxwell House.
However, branding is more than just a name. It is an identity and a reputation. Branding is the name people think of when asked about products or services in your industry. It’s the belief in quality in your product either from reputation or past experience.
Therefore, your JV brand is the key to attracting and retaining customers. But how do you form a JV brand? Here are some simple elements that can help develop your JV brand:
Joint Venture Business Name
What is your JV business name? A business name should be easy to remember. It should also be easy to spell. In this world of Internet commerce, your JV business name should be easy to type into a URL or in a Google search.
Your joint venture business name could be your two business names together. Popular JV businesses like Sony Ericsson simply combined two brand names together to form yet another recognizable and popular brand name. Consider this only if both your separate businesses have a recognizable brand already.
You may consider forming a new name for your JV business. Choose a name that states what your JV business does, or the type of industry you serve. Don’t choose “Great Seeds” of you have nothing to do with agriculture. Your business name is one of the biggest elements of your branding efforts.
Joint Venture Logo
If you will be running your JV business as a separate entity and name, include a logo as part of your business branding design. A logo could simply be the font and style of your business name. Choose fonts that are right for your JV business. Is your JV business creative and artsy? Choose a cursive style font. Do you and your JV partner offer financial services? Stick with traditional serif fonts.
A logo design may include a graphic as well. If you include a graphic, be wise in the choice of style and color. Remember, you will need to make prints of your logo on stationery, advertisements, etc. Don’t choose too many colors. One or two is perfectly acceptable.
A logographic should not be too “busy”. Create something simple that enhances your JV business name. If it is too cute or detracting, cut it.
A tagline can also be essential in your JV business branding. Famous taglines such as “Are you in good hands?” or “Don’t leave home without it” let us know we are talking about Allstate insurance or American Express. If you use a tagline in your branding, keep it short and simple. Spend a good amount of time developing a tagline. It should be something that is memorable and important to your business.
JV branding takes time. But with the right name, logo, and tagline strategy, you’ll have a good start on getting your JV brand recognized.
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.