joint venture marketing
How would you like to save money on advertising AND make more money? Your joint venture is a business vehicle that lives or dies by the bottom line. Doesn’t it make sense to use win-win methods that help your JV grow and become profitable? That’s why results-based advertising can help your JV increase sales while reducing your marketing budget.
Why pay for advertising when you get zero sales and no quantifiable leads? It ends up becoming wasted advertising, wasted money lost forever. “Results-based” means you only pay when you see results. It puts you at less risk to waste money, and your advertisers end up making more money than a set, pre-determined fee.
Your advertising budget can get inflated quickly. Print, radio, and TV ads can add up to tens of thousands of dollars in a short time. What you need is a method that helps retain dollars in your bank account until you are able to attract and convert leads from advertisements.
Pay Per Click – The Internet has become one of the most-used advertising systems in the world. Pay per click advertising uses prominent search engines to get your JV business on top of search results for specific keywords and phrases. You simply make a bid on certain keywords for which your ad should appear. And when a user clicks on your paid sponsor link to your Internet landing page, only then do you pay for the advertising. This system is easy and can generate thousands, or depending on the keyword, even millions of potential leads.
Pay Per Call – Similar to pay per click, this system provides an actual phone number rather than a website link in the paid ad. When a user makes a search and finds your ad, they call your JV business directly for more information. Your telephone sales staff then has the opportunity to gather information about the customer/client, and formulate a sales pitch to meet their needs. Pay per call is more expensive than pay per click, but the sales conversion ratio is much better at 45 percent, compared to about 3 percent for pay per click.
Results-Based Advertising – During a recession, advertising space grows. Magazines, newspapers, TV stations all have trouble selling space and time when the economy is down. As a result, advertisers become motivated to sell space at a discount rather than lose money.
When you talk to advertisers about purchasing space or time on their platform, do you ask them whether they believe your JV business will see sales by advertising with them? And if the answer is “yes,” then you can progress to discussions of another type of joint venture with them.
Using a similar method from pay per click or pay per call, offer to pay the advertiser a pre-determined fee or commission only when a quantifiable lead comes to your JV business. You can set up the lead generation so that the advertiser can track them. With every lead that comes from their advertising space, you pay them a set fee. This could result in higher fees for the advertiser, while reducing your risk for ineffective advertising.
Make the most out of your precious marketing budget for your JV. Start utilizing a system that makes advertisers work for you with a focused, results-based advertising. The results can be more profit for you and your advertisers.
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.