What Joint Venture Partners Want from You

Deciding that joint ventures will help your business grow is the easy part. Once you have decided to pursue this marketing avenue, you must search out potential JV partners and convince them that it would be to their advantage to work with you. This process can be easier said than done, particularly if you are a smaller company with fewer loyal customers and sales to offer.

However, even small business owners bring something to the table in a joint venture arrangement. Consider the features potential JV partners want from you to help you put your best foot forward in the proposal and negotiation process.

A Solid Agreement

One of the biggest reasons joint ventures fail to materialize is because the business looking for JV partners fail to provide a clear strategy for the venture. Larger businesses want to work with other business owners who are well-versed in the purpose of a joint venture and how to formulate one that is mutually beneficial to all involved. The company wants to know that you’ve done your homework and will supply compelling reasons why a business arrangement between your two companies would be a positive marketing step.

A Solid Business

You may be just starting out or much smaller than your prospective partner, but that doesn’t mean businesses you approach will never take you seriously. If you want a prospective partner to sit up and take notice, you need to present yourself as a polished, professional company. This means creating a proposal that is comprehensive and well written. It also involves presenting yourself as an expert in your chosen field, whether you are hosting your own blog on a related topic or hosting your own booth at a trade show.

A Solid Profit

Prospective JV partners always want to know what’s in it for them. While you may not be able to offer much at the beginning in terms of marketing prospects or customer lists, you can provide a significant percentage of your sales to make the agreement worthwhile for your partner.

Sometimes it may seem that you are giving up too much to establish a lucrative joint venture. However, those initial profits will pay back tenfold when your JV partner helps you build a larger customer base and a healthier bottom line.

A Solid Relationship

Many companies turn down prospective partners because the two businesses involved have absolutely nothing in common. While you don’t want to enter into a joint venture with a direct competitor to your own business, you do want to choose companies that will attract a similar clientele for different products. When you approach a prospect, make sure you’re detailed in describing the potential symbiotic relationship in question, so your potential partners can see the advantages to working with you right away.

Landing JV partners isn’t easy, but it helps to see the potential joint venture from the perspective of the other company. When you can offer features the other company wants, you will be more likely to land successful joint ventures.

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 report on Joint Venture Marketing.

Why Customers Like Joint Ventures But Don’t Know It

When you begin the process of forming solid joint ventures, it’s all about the customers. After all, the purpose of JV marketing is to grow your customer base and subsequent sales.

The good news is that most customers love joint ventures, even though they may not know what they are or what the benefits might be. Consider the reasons customers like joint ventures, but don’t know it, to inspire you to set out on some joint ventures of your own.

History

When you are a relatively new business, it is difficult to impress potential customers with your short history. Customers simply aren’t comfortable doing business with companies that have yet to prove themselves completely.

However, when you partner with companies that have been established, customers will often subconsciously transfer the longer history of your partner to your own business. This is good news for you, but it also allows your customers to shop with a great deal more confidence, which makes them more satisfied with the process overall.

Reputation

Customers like to work with companies that have proven reputations in the area they are shopping. If you pair up with a company that has an excellent reputation in the community, you also reap the rewards of that positive name. Customers are more content doing business with you because they see you as an intricate member of the community. Your association with your JV partner allows you to enter your customers’ world much more smoothly, which means they are more willing to do business with your company as well.

Exposure

Customers like businesses that are easy to find, and if your name is linked with a company they already do business with, the exposure factor is a snap. A customer that spends time on your partner’s website will come in contact with your company through a link or article written by you. They will be much more likely to click on your website when they need a related product or service. The big benefit to the customer is convenience, since they get introduced to your company without having to put forth much effort to find you.

Confidence

Finally, customers like to do business with companies they feel good about. Your relationship with the customer is simply too short to inspire confidence at first, but the fact that you’re associated with another business that they have worked with for some time helps them feel more confident about your company as well. When you have the consumer’s confidence, it is much easier to sell them items for the first time, as well as suggest additional items in which they might be interested. Your customers enjoy peace of mind in knowing that the company they are doing business with has the quality and value they seek.

Joint ventures benefits the businesses involved, but they have advantages for customers as well. When you approach your JV marketing from your customer’s perspective, the result will be a more satisfying experience for everyone.

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 report on Joint Venture Marketing.

What is Camouflage Marketing?

Camouflage marketing is an advertising method that uses psychological triggers to help potential customers draw conclusions about a business simply by the appearance that is portrayed. This marketing approach is tailored to JV marketing ventures because it effectively utilizes the experience and expertise of your JV partners at the same time it sells your own business.

JV partnerships open up a wealth of camouflage marketing options that can bring a good return without much upfront cost. Check out this overview of camouflage marketing you can use in your own joint ventures.

Expertise vs. Advertising

To encourage customers to buy from your company for the first time, you must establish your credibility first and foremost. This is where camouflage marketing comes in. Instead of placing an ad on your JV partner’s website, publish an article or press release about the industry you work in.

For example, if you sell swimming gear, write an article about how to find a credible swim school. You are showing yourself to be knowledgeable in the field of swimming, which will entice customers to buy your products as well. Add a link in your article that sends customers directly to your website, and you are already halfway to the sale.

While you are doing your business a great service by “camouflaging” your advertising in this manner, you are doing nothing sneaky or dishonest in terms of your customers. Instead of placing an obvious advertisement on your partner’s website, you are choosing to share information with potential customers about a topic they are interested in. Customers can easily tell the difference between an article with outside links and a blatant ad. If the information you provide in your article is accurate and helpful, customers will be more likely to turn to you for their practical needs as well.

Cost Saving

The other advantage to camouflage marketing is that it often costs you less money than posting a large advertisement for your business. In some cases, articles can be posted for free on your JV partner’s website and article directories.  This approach costs much less than posting a large advertisement in a similar fashion, and you may reap additional customers through the perception of your expertise in your chosen field.

Drawbacks to Camouflage Marketing

Despite the many benefits of camouflage marketing, there are some drawbacks to consider. It is very difficult to predict the response you will receive to this type of advertising since you are, in part, subject to the guidelines and schedule of the person or website that is posting your article. To help overcome this issue, most business owners will place a traditional advertisement at the same time. A large advertisement can be done to your specifications, ensuring more control over this style of marketing.

Camouflage marketing is nothing mysterious or dishonest, but it can be quite effective in attracting prospective customers. When you combine your JV partnership with camouflage marketing techniques, you can raise your customer base exponentially.

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 report on Joint Venture Marketing.

4 Features to Look for in a Joint Venture Partner

The right JV partner will make all the difference in the success of your joint venture. Your partner will play a key role in driving traffic to your website, raising consumer confidence in your business, and providing you with additional knowledge and support. To help you find the best JV partners for your needs, we have listed four important features to consider as you are approaching prospective partners.

Similarities

In order to attract business to your own company, you need to target customers that would be interested in buying your products or services in the first place. When you select a JV partner in a similar industry to your own, the customers from that business will be much more interested in yours.

For example, if you sell pool supplies, look for a JV partner who works in landscaping or sells swimming gear. If you are a florist, check out prospective partners like wedding planners who can send high quality customers your way.

By the same token, do not choose partners who are in the exact same industry, or you will end up competing for customers rather than working in a symbiotic arrangement.

Mailing List

Since the purpose of a joint venture is to increase customer contacts, it is helpful to find a prospective partner who has a substantial mailing list in place already. In this situation, your JV partner could help you target your own list with an offer that appeals to the special needs of the customers you are hoping to attract.

This is actually beneficial to both your partner and to your own business, as customers prefer to be contacted about specific services they might be interested in, rather than at random with unrelated products and services.

Consumer Confidence

In addition to a large mailing list, it is important to find a JV partner who had developed a strong sense of consumer confidence among his current customer base. If your partner’s customers already trust him completely, they will be much more likely to trust you as well. This usually comes with established companies that have been in the industry for a significant amount of time. You can detect consumer confidence through testimonials listed on the business website or through reviews of the company or products listed on other websites.

Willingness to Partner

It is important to find JV partners who are actually willing to work with you to develop both of your businesses to the fullest. In many cases, David will have to attract Goliath through the offer of commissions – and a big enough cut to make the giant sit up and take notice.

However, the rest of the agreement should be optimal for both parties in terms of links and mailing lists provided and equality between any joint advertising that is done. When you go into a JV partnership with a willing participant, the experience is much more enjoyable and profitable for everyone involved.

Finding JV partners involves plenty of homework to determine the best partners for your unique business needs. With these features in mind, you will be more likely to discover the best JV partners to grow 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 report on Joint Venture Marketing.

4 Avenues for Locating Joint Venture Partners

When you begin building joint ventures, finding good partners can be the biggest hurdle in the process. You will be spending plenty of time on the computer and phone and knocking on doors to establish JV partnerships.

Thankfully, we have a few places to begin looking when you are ready to compile a list of prospective JV partners.

Searching the Search Engines

Yes, it can be tedious and time consuming, but the search engines are often the best place to begin looking for businesses in your niche. Begin by choosing keywords for your business and then plugging in “joint venture” or “affiliate marketing” to find businesses interested in this type of approach. You will probably get more hits than you ever have time to follow up on.

The advantage to this approach is the large numbers of prospects you might find. The drawback is that you won’t have a connection to any of these businesses, which might make it harder to land an actual partnership.

Using Social Media

Whether you head to the websites of businesses you are interested in or look for websites specifically designed to bring JV partners together, social media is a great way to make professional connections. Facebook, MySpace and LinkedIn are all good social websites to try, although LinkedIn is specifically geared toward a professional market.

The advantage to this approach is that many professionals are on social media sites today, allowing you to connect with many different companies relatively quickly. Social media tends to build “relationships” on some level, so you may be able to overcome some of the impersonal barriers listed above using these tools.

Seminars and Trade Shows

Face-to-face meetings may be more effective than virtual connections, especially if you establish credibility by hosting your own booth at an event. Keep your business cards handy and pass them out freely to business owners who appear to be good JV prospects. This might include other booth owners, as well as those in the crowd who stop to ask questions about your company.

The biggest advantage to this approach, aside from the personal meetings you enjoy, is the fact that everyone at the seminar you choose will probably be in a related business to your own.

JV Membership Sites

There are also websites you can join for the express purpose of locating JV partners. These websites may have a list of prospective partners that are specifically interested in helping smaller businesses promote themselves through joint ventures. When you join, you write up a joint venture proposal that you can submit to the companies you are most interested in, and then you can sit back and wait for their responses to come in.

The biggest advantage to this approach is that you are automatically connected to businesses interested in joint ventures. However, monthly fees can be costly, so choose a membership site that has a proven track record for success.

Finding JV partners is the first step to success, but it can be easier said than done. With these avenues in mind, you have greater odds for locating prospective partners that can effectively promote your business.

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 report on Joint Venture Marketing.

5 Resources to Make the Most of Your Joint Venture

Once you have landed an effective JV partnership, your work is not finished. The next step is to make the most of your venture, using some of the modern technology designed to attract more customers and boost sales. Becoming savvy to modern marketing techniques can make the Internet work for you more effectively. Check out these five resources to make the most of your joint ventures.

Search Engines

The online search process is an ever-evolving science. When you work the search engines to your advantage, your business will come up higher in the rankings when customers search for products or services related to yours.

If you’re unsure how to select keywords and use them to your fullest advantage, contact an Internet marketing consultant for help. The time and money you spend will pay off with more traffic directed to your website and an increase in your customer base.

Content submissions

Content submissions use search engine functionality to help customers find your business, but they do much more than simply boost your SEO. When you submit content to e-zines and other websites for publication, you are establishing yourself as an expert in your field. When customers are shopping for a particular item and they read an article written by you about that item, they’re more likely to head to your website for assistance and a purchase.

Autoresponders

Autoresponders keep the lines of communication open between your business and customers without requiring an exorbitant amount of your own time to do so. Autoresponders send responses to customers’ email addresses, alert them to upcoming promotions and provide other information. This tool is invaluable for keeping new and current customers abreast of what’s new with your business so they’re more likely to come back to your business for purchases.

Link exchanges

This is the primary function of many JV partnerships today, allowing both businesses to place links on the other’s website. This way, a customer who is shopping for a particular item on your partner’s website may also click on your website to make a related purchase. You can also set up link exchanges through your content submissions and your own blog, which we will discuss below.

Blogs

A blog takes a bit of time to set up and maintain, but it is a great way to establish yourself as an expert in your field and drive traffic to your business. While it is similar to content submissions, the difference is that the blog is your own website, allowing you to place any content you like at any time. JV partners can also link to each other’s blogs, so frequent visitors of one blog can easily find the other. If you don’t have time to prepare your own content, there are many writers who will do so for a fee.

Make your JV partnership work for you by adding these tools to the process. These resources make your job easier by increasing traffic to your website and encouraging new and current customers to make purchases. When the Internet is working in your favor, you can increase sales from the comfort and privacy of your office any time you like.

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 report on Joint Venture Marketing.

4 Ways to Use Consumer Psychology to Boost Sales

Once you have solidified your JV partnerships, you’ve only won half the battle. While attracting new customers is a key component to a successful business, another important attribute is the ability to close the sale once the customer visits your website.

To increase your odds of accomplishing this feat, you must get into the head of your potential customer to find out what motivates them to open their wallet and actually make a purchase. We have four ways to use consumer psychology to boost sales.

Pricing

A customer must determine that the price is right before they are willing to buy. However, pricing is one part math and nine parts psychology. Why do you think you see so many prices set at $9.99, $99.99 or 1,999.99? This is a psychological move to keep the customer from moving to the next price threshold. Yes, your product may be just a penny under the $100 mark, but to your customer, there is a major chasm between $99 and $100.

Bulk pricing follows a similar formula, encouraging customers to buy more of your product when they perceive a savings in doing so.

Value

It’s a fact of life: most people spend plenty of time and money trying to keep up with the Jones. They want top quality merchandise and they want it at a ridiculously low price. When you perfect the art of selling luxury at a bargain, you will increase your sales. In some cases, this may amount to educating your customer about the materials you use to build your product, or the manufacturing process it must undergo to be deemed “fit” to put on your store shelves.

Testimonials

Customers are often afraid to try out a new company or product because they fear failure. They worry that the products they purchase will not stack up to the value test listed above. Your JV partnership has already overcome part of that concern by linking your relatively unknown business with one that is more established. However, you can take the process a step further by providing potential customers with testimonials of previous buyers. Free samples are another good way to boost consumer confidence so they are more likely to take a chance on your business.

Benefits

This is old school marketing, but it still holds true. To make a sale, you must first create a need for your customer. In many instances, this is about telling your customer the many benefits she will enjoy by purchasing your product. Your customer may not realize they can clean their bathroom in half the time or save significant time and effort in the kitchen by purchasing your product. Pitchmen are experts at this technique, and if you learn to do it properly, you can also enjoy a significant increase in sales.

JV marketing is an excellent way to attract new customers, but once you have increased traffic, you must be prepared to close the sale. With these techniques, you can transform lookers to buyers to boost sales and 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 report on Joint Venture Marketing.

4 Features of a Successful Joint Venture Partnership

A JV partnership helps boost traffic and sales to any business for much less time and money than other types of marketing. When you form a partnership with another business, you automatically reap the benefits of that company’s experience and customer base. By the same token, your partner also sees rewards from bringing your business onboard in a partnership. To ensure your joint ventures are successful, consider these four features of a successful JV partnership, and then choose your prospects according to these factors.

Related Businesses

A successful JV partnership is between two related, but different, businesses. The first guideline is to ensure you are catering to a similar customer base. For example, a florist who specializes in arrangements for weddings will be looking at the same customer profile as a photographer or caterer who also serves the wedding crowd.

By the same token, if your businesses are too similar, you will find yourselves in a competitive, rather than a symbiotic, relationship. If you are a photographer, you don’t want to approach another photography studio for a JV proposal.

Equal Benefits

Equal benefits do not necessarily translate to equally yoked businesses. In fact, you are better off looking for a JV partner who is larger and more established so you can take advantage of his expanded customer base. So what’s in it for the larger business? Probably a significant portion of your profits, at least at the beginning of the venture.

While the benefits may vary between the two JV partners, it is important that both businesses see similar value in the arrangement. A joint venture is much more likely to be successful over the long haul if both businesses are satisfied with what they are getting from the partnership.

Clear Terms

Like any business agreement, it is important that a JV partnership includes clear terms that both business owners understand. Whether you are managing link exchanges, pay-per-clicks or profit sharing, both businesses need to be solid on their expectations and benefits of the arrangement. This is particularly true if money will be changing hands between businesses. Clear terms keep both partners happy and prevent misunderstandings that could threaten to dissolve the partnership.

Written Contract

While clear terms are good going into a JV partnership, they are not sufficient in protecting the interests of each business owner. The terms must be spelled out in writing, with both partners signing the agreement before the partnership officially takes effect. You can create your own JV contract by using a template you can find on the Internet. If you prefer, an attorney can also draw up a contract that is appropriate for both businesses.

It is important to include the benefits of both companies, particularly if money is involved. If your JV partnership will have a set term, set the date for termination in the contract as well. If not, set a date for review to determine whether the partnership will continue.

A successful joint venture partnership does not happen automatically. If you form your business relationships with these features in mind, you will be more likely to create partnerships that benefit both companies over the long haul.

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 report on Joint Venture Marketing.

What are Autoresponders and Why do You Need Them?

When you are setting up a JV marketing campaign, suddenly an entire world of Internet marketing strategies is opened up to you. While it can be beneficial to have so many marketing tools at your immediate disposal, it can also be quite intimidating to know which ones will bring you the biggest bang for your marketing buck. This article will explain one such marketing tool, the autoresponder, and why it is an essential element in building an effective online business.

What is an Autoresponder?

Simply put, an autoresponder is a computer program that automatically answers emails that are sent to it. However, the idea of an autoresponder can become rather complex, depending on what you want your autoresponder to do. In addition to basic responses, an autoresponder can also shoulder the following responsibilities:

• Manage subscriptions for newsletters or promotion announcements

• Track the people who open your emails and even categorize them once you get up to a certain number

• Build communication with current and prospective customers

• Broadcast messages to your subscribers

As you can see, an autoresponder handles much of the work you might normally do yourself to contact customers. However, this computer program can reach many more customers in a fraction of the time than you can do yourself, making it well worth the cost of a program. In fact, most Internet marketers claim that the use of autoresponders can boost sales from a mere 3% of potential buyers to as much as 30% in some cases.

The Importance of Follow-Up

The reason for increased sales through the use of an autoresponder is actually quite simple – follow-up. When you follow up with potential customers, you are more likely to get the sale than if you leave them hanging. Potential customers who don’t receive follow-up contact from you may never buy because:

• Potential customers rarely buy after their first contact with a business

• Some potential customers may not be able to afford a purchase right away

• Many may be in the process of “shopping around” and aren’t ready to make a purchase decision

When your potential customers receive follow-up information from you, you are building brand recognition and credibility for yourself. You are also reminding customers who may have become busy with other projects that you are still happy to get their business. This is where an autoresponder can nab sales that you might otherwise miss without some sort of follow-up to potential customers who have contacted your website.

Autoresponders do the work for you, so you can rest assured that customers are receiving the proper contact without the need for you to pour many hours into the process. The automation allows you to focus on other important responsibilities of your business. You save time on sending emails, managing subscriber lists and entering new names and contact information onto your lists. The autoresponder program can handle these tasks for you so you can move on with the important task of managing your company. In addition to the timesavings, the autoresponder will handle tasks with better precision so you can rest assured all potential customers are reached efficiently and consistently.

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 report on Joint Venture Marketing.

Joint Ventures and Targeted Traffic

When you want to build a customer base, the obvious solution would be to reach as many potential customers as possible, right?  However, what if your business is scrapbooking supplies and your advertising is reaching middle-aged males who have no interest in the hobby? What if you are selling gardening tools to people who primarily live in high-rises in the middle of the city?

It is clear that not all traffic is created equal. If you marketing approach is not geared to targeted traffic, you may end up spending a lot of marketing dollars for very little return. The best way to get a good value from your advertising dollar is to gear your ads to the people who are most interested in your products or services. One of the most effective ways to achieve this goal is through JV marketing. This article will explain why.

Finding Related Businesses

Let’s go back to the owner of the scrapbooking business. If this business owner decides to form a JV partnership, her best prospects will be those in a field related to, but not exactly like, her own. For example, she might partner with a company that sells cameras and offers photography classes. Since moms are often the scrap bookers of the family, she might look for businesses that cater to products for young children or pregnancy-related supplies. By looking for businesses related to her own, she is more likely to find potential customers that would be interested in the products she is selling.

Time and Money Savings

The business owner in our example has automatically put her efforts into marketing to a targeted audience, without the need for market research or other costly methods to find the people who would be more likely to purchase her scrapbooking supplies. Instead, she simply hunted out the businesses related to her own that would already have a targeted customer base. By adding her business name to this established company, she directly reaches targeted traffic for a fraction of the time and money it would cost for her to fish out potential customers on her own.

Many business owners fail to see the value of joint venture partnerships in locating targeted traffic. Instead, they put their money into companies that provide mailing lists of potential, targeted customers for a fee. While there is nothing wrong with purchasing mailing lists per se, the cost of these lists can be rather exorbitant for the new business owner with a limited marketing budget. Instead, a JV partnership can provide the same benefits, with little or no cost up front.

The hardest part of an effective joint venture partnership is often finding businesses in related industries to your own. The secret is finding a company that is closely related to your business in order to narrow your targeted traffic to potential customers most likely to buy from you. However, if your businesses are too similar, you may find your companies in competition with one another and the JV partnership will not flourish for either one of you. Choose your prospective partners carefully, with targeted traffic in mind, and your JV marketing campaign will provide the best value for the cost.

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 report on Joint Venture Marketing.

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