joint venture marketing
joint venture marketing can be a savvy way to promote your Internet business. Forging a joint venture marketing partnership with a party that has different areas of expertise can maximize profits for both parties. joint venture marketing partnerships are a particularly good way for small businesses to increase visibility, combine resources, and ultimately increase profits.
Split Advertising Costs
One way to cut marketing costs is to divide advertising costs with your joint venture partner — this is one of the main reasons that parties engage in such an affiliation. In the world of Internet businesses and Internet marketing, there are many advertising avenues that have minimal costs. However, taking the initiative to invest in paid advertising for your business, particularly if you have a partner in your joint venture to share the burden of the cost, can result in higher quality traffic, along with a more productive way to build awareness for your business.
Benefits of Paid Advertising Through Joint Ventures
Paid advertising, at least in the offline media, is still the most predictable way to increase hits and traffic to your website. Paid advertisements obviously carry with them a sometimes-significant cost, but do provide several advantages. By using a paid advertisement you are able to:
- Have full control over your copy, layout and design
- Alter and tweak your copy until it is exactly as you want it
- Measure exactly how each change in your advertisement impacts traffic results to your site
- Determine the exact URL or website that people are directed to, increasing your ability to monitor traffic to your site
Paid advertising does have downsides, but being aware of these potential risks at the outset can help minimize the concerns that accommodate the paid advertising route.
Paid advertising tends to carry with it a credibility problem — if people know that you’ve paid for the space, any laws necessarily pertaining to truth do not bind you. Very much of what you claim in your advertisement could contain a lot of hyperbole.
Solving this credibility problem is part of where a strong joint venture partnership can be of great value. If you are new to the market, but partner with a company who is known and trusted, this will naturally lend authority to the advertisement, despite the fact that it is a paid advertisement.
As we all know, paid advertising has the potential to cost a lot of money. If you are on a budget, paid advertising may still be a wise choice, but it means you will want to choose your advertising carefully. This is also where a joint venture partnership can be very helpful and profitable:
- A joint venture partner can share the burden of cost for the advertising
- Your joint venture partner can contribute his knowledge and expertise to be sure you design effective and pertinent advertising.
When developing a joint venture marketing partnership, there are a lot of avenues for free or low cost advertising, but don’t overlook the value of the good, old fashioned paid advertisements; they may give you precisely the edge you need, and your joint venture will help shoulder the burdens associated with the risks of paid advertising.