4 Ways to Find Partners in Joint Venture Marketing

You may already know that joint venture marketing is a good way to drive traffic to your website and build a healthy customer base. But how do you start? The first step is to find companies that you are interested in partnering with to build up your business. There are plenty of ways to search out JV partners and a few of them are listed right here.

Search Engines

One way to find JV marketing partners is by searching them out for on your own. Use keywords that match your business to find related companies that may be more established. Once you find a company that looks like a good prospect, join their forum and participate in their message boards to find out what type of client base they attract.

Newsletters

If you receive newsletters from various companies, consider those businesses as potential JV partners. You can research them using the same methods you used to learn about the companies you found through search engines. Study the newsletter to determine whether the company’s products and philosophies are compatible with yours. Go to the company website and join the forums and message boards there to determine the type of community the business attracts.

Trade Shows

Seminars, conferences and trade shows are all excellent vehicles for networking with others in your field or complementary industries. This is the perfect place to meet potential JV partners who share your desire to build their businesses. However, simply attending the event may not be enough to get you noticed by the larger companies that would really be able to give you a helping hand in the marketing department. If you rent a booth at the event, you will automatically give yourself credibility in your industry. This status will allow you to network with other attendees, as well as the speakers of the events.

Membership Websites

There are also websites designed to help businesses match up with JV marketing partners. Subscribers usually pay a fee to join the service, and they are allowed to post their joint venture proposal and information about the company. The proposal is sent to all the members who have expressed an interest in the particular industry. You may receive responses back relatively quickly, especially compared to the time it would take you to search out and research companies on your own. If you decide to join one of these networks, thoroughly research the website and read reviews to ensure you get a good value for your subscription rate.

Joint venture marketing begins with finding partners that will be effective in helping your business grow. By using these four methods effectively, you will be on your way to a joint venture experience that will attract more customers to your company and increase your 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.

To discover more Joint Venture Marketing Strategies join his free Joint Venture Marketing Wealth Report.

3 Psychological Secrets of JV Marketing

What causes a joint venture to fail? Usually it is due to the lack of enthusiasm on one or both parts of the partners. However, many times it will fail because the JV partners simply didn’t market or promote their product or service properly.

What is your JV product or service? Tell your customers! But how do you tell them in a way that will get them to try your product or service? Try these promotional secrets that utilize the psychology of the customer who want to indulge themselves.

1. Pricing

How do you price your JV product? Does your service run an even $400? The psychology of pricing can make a big difference in how many sales you make. It has been proven that the pricing method of your product can determine its success.

Take, for instance, your $400 service package. Do you think customers will find it a bargain at $395? Pay no attention to the lost $5 and do take note of how many more sales you will make.

Try pricing in bulk as well. One item may cost $20, but try offering 3 for $50. You will sell more and your profits will prove it.

2. Not All Is Lost

What do your customers stand to lose by NOT using your product? One way to create demand for your product is not to emphasize the benefits, but to let a potential customer know what is lost by not using it. Think of all the side-by-side tests found on TV commercials. Your bathtub will remain dirty with mildew if you fail to use Product X. Your dishes will have spots unless Product Z is placed in your dishwasher. Don’t just promote the benefits, but emphasize what will be lost if your product or service isn’t in use.

3. The Picture That Sells

And speaking of promoting the benefits of your product, are you doing it correctly? Of course, it’s easy to say, “our product will help you by doing A, B, C…” etc. But a list of features is boring and monotonous. Instead, put your features into a colorful description, or better yet, a photograph. Would you rather buy a hamburger, or “a sizzling, fresh, 100% beef burger charbroiled to perfection, inspired by the warm breezes of the Caribbean?” The use of photos can also bring your product closer to your potential customer. Again on the food theme, have you ever noticed that popular restaurants use menus with tantalizing photos of the food items? A picture can truly be worth a thousand words.

Get your JV out of the doldrums. It doesn’t take but a little bit of creativity and imagination to get your product in the proper promotional mindset. Use the tricks that major corporations have been using for decades and you may find that your JV sales will take off.

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.

4 Secret Strategies of a Successful Joint Venture

Entrepreneurs are known for being creative. They have a knack for observing a particular market or niche and developing a product or service that fits that niche. Clever entrepreneurs are also clever marketers. And one great way to expand your market and increase profits is by forming a joint venture.

But should an entrepreneur or small business owner form a JV simply because they can? Not always. A successful joint venture requires careful planning and consideration. It may even require special research or resources for producing and packaging a successful joint product.

A JV should be approached with the same respect as any other business strategy. There are four important strategic points that any entrepreneur or business owner should consider before partnering up.

1. Set Your Own Clear Goals

Though a JV does require joint strategies between two people, your own goals are important for it’s ultimate success. What do you want to accomplish? Do you want more profits? Expanded markets? More credibility and better reputation from an association with a prominent joint venture partner? Make sure you know what you want before you agree sign on with a new partner.

2. Find a Complementary Partner

Knowing what you want from the joint venture will help you find a complementary partner. Keep in mind that a JV doesn’t have to be between two similar sized businesses in the same industry. You may be a small business owner and form a successful partnership with a larger corporation, as long as you have complementary goals. And don’t think because you offer a service, say, financial advisement, that you could not form a creative and successful arrangement with another business owner who manufactures fishing tackle. Having a win-win strategy, regardless of the industry or business size, is the most important thing to keep in mind when looking for a potential JV partner.

3. Carefully Plan The JV

The success of your JV depends upon the careful planning that you and your partner perform in the very beginning. You will need to negotiate your plan together to reach a mutually beneficial agreement. You and your new partner will need to agree upon a legal business type for your venture, as well as the overall JV goals and the tactics you will need to reach those goals.

4. Nurture the JV Relationship

Remember that a JV is not just a business venture; it’s also a relationship. You’ll want to continually nurture the relationship with effective communication and cooperation. And don’t forget to reward yourselves for achieving goals. A good JV relationship will make the road much easier to travel, and keep the venture going for a long and successful run.

Discover your potential joint venture. Get your personal business goals in place and find a good partner with whom you can work well. Keep these strategies in mind before you form your JV, and you’ll have a much easier time getting a successful JV assembled.

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.

Are You a Joint Venture Partner Who Listens?

A large portion of the dynamic relationship with your joint venture partner consists of communication. You must be able to communicate effectively in order to nurture a successful JV arrangement. But are you aware that communication is in larger part an act of listening?

Communication is sending messages between two points. You send messages to your joint venture partner via both verbal (written or spoken) and non-verbal communication.  Non-verbal communication includes how you listen and interpret your JV partner’s signals and messages.

A communicator who is an active listener will be better equipped to handle and respond to the messages being sent. For instance, if you are in a meeting with your joint venture partner and you are being told that the arrangement may not be working for him, a good listener will be able to discern what is actually being said. By listening and asking the right questions, you may be able to discover that the time commitment for your JV partner is more than expected. You, as the good listener, can communicate and negotiate a better arrangement that is more suitable and yet still beneficial to both you and your JV partner.

Active listening is a skill. When you practice active listening, you should be doing the following:

• Give Attention – Don’t let your eyes wander around the room when your joint venture partner is talking to you. Focus on him and let him know that what he has to say is important to you. This also means even though your eyes are focused on him, you are not thinking about your shopping needs or hobby participations after work.

• Listen and Observe – Not only should you listen to what is being said, but carefully observe body language as well. Body language can tell you much about what is being said. Crossed arms for example could indicate that your JV partner is closed-off to input. Frowns and squints may indicate that he is confused. Key into these non-verbal signals as well.

• Show Feedback – Let your joint venture partner know you are listening. Nod occasionally that you understand what is being said. Smile. Raise your eyebrows. Your responses are positive feedback to your partner that you are indeed actively listening.

• Give Honest Responses – Responding to your JV partner is important. It is also important not to allow emotions to take control of communication. If you become upset at what your joint venture partner says, announce your feelings, but don’t allow yourself to say something inappropriate or that you might regret. Being honest with your feelings is different from letting feelings sabotage a conversation.

Your continued JV success with your partner depends upon how well you communicate together. Be sure you become an active listener so that you have the tools needed to participate in a fruitful conversation.

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.

Perfectionists vs. “Good Enough” Partners for Your JV

Most people are “good enough” types of workers. They know what a job entails and how to get the desired results, but nothing else is needed. A job is done when it’s “good enough” and will suffice for the purpose. Though you may not think it, these are the type of people who get things done and are good for progressive business processes like those found in joint ventures.

Perfectionists, on the other hand, may determine that a job is never done – not until it is perfect. They will spend hours, days, and even months trying to perfect a business process, product, or service and still determine that it is incomplete. Perfectionists are important in business because they can see the fine details and flaws that others may not notice. But is a perfectionist the perfect type of JV partner?

Combining a Joint Venture with a Perfectionist

A perfectionist personality who owns and runs a small business may find that they really need to loosen their standards and look ahead at progress. A JV can be good for this type of personality with the right partner – one who can help guide the perfectionist toward a goal and see the benefits waiting at the end of the rainbow. Remember, it’s not necessarily the destination that is important, but the journey to get there that counts.

How can perfectionists be more productive in a JV situation? Though perfectionists may have a hard time giving up their quality standards, it may be just the thing to get them to more profits and a thriving business.  Here’s what they can do:

Toss the Fear of Mistakes

One of the worst perfectionist attitudes is the fear of making a mistake. They believe it must be done right the first time. However, this attitude can lead to stagnation. It is important to make mistakes and learn from them. NASA didn’t go straight to the Moon. They developed their technologies little by little, learning from their mistakes in order to get the right method and strategy for getting a man on the Moon.

Accept Change

Many perfectionists are resistant to change. The method that has always worked in the past is the one to follow. However, “the way we’ve always done it” has to progress through change. For hundreds of years, accountants kept the books by handwritten ledgers. Computers have changed all that just in the last 25 years. Though it was difficult to let go of the “hardcopy” ledgers, computer accounting is the norm now with safety standards and procedures that avoid loss of data.

Learn to Let Go

Perfectionists have a hard time letting go. A project is never complete. The result is “imperfect” in their mind. However, progress and success must come even with a little imperfection. It is important that a perfectionist learn to move forward in order to make a business or JV strategy work. And sometimes that means letting go of the “perfect” image in order to make something “good enough” for the overall purpose of business success.

Perfectionists can be good for producing the best quality products and services. However, a JV with a perfectionist as a partner will need to learn a little give and take in order to meet the goals of the venture.

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.

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