Strategies to Get New Clients

The best part about developing joint ventures is the ability to create unique strategies to get new clients from the existing client base of the joint venture partner or through new marketing activities together. Some companies mistakenly, simply create a basic press release and expect the new partner to come up with all of the strategies and marketing materials to market the partnership. If a business wants to maximize each joint venture partner it’s best to be active in the marketing decision making process as well as develop creative offerings such as product bundles, free sample offerings, partner promo specials and other strategies to get new clients. If a business commits to being open to new marketing strategies regardless of past marketing campaigns and focuses on developing a complete new channel, great things can happen. At the heart of the strategies to get new clients should be the overwhelming focus to provide customers a great product or service for an affordable price. When developing consumer related joint ventures having special pricing and product promotions is critical.

Product Bundles

Identifying whole solutions or product bundles that can deliver to a customer an entire solution or package that at the same time saves the customer money over buying each component separately is a strategy to get new clients. When marketing to a new potential customer base with a new joint venture partner many of these customers may already be using a competitor’s product or service so there needs to be a strong incentive to use a different company. Product bundling is an excellent way to handle all of a customer’s requirements and give them this great deal. Include a product or service from the joint venture partner into the product bundle if applicable and jointly market the product bundle. This also increases the buy-in that a partner may have in assisting with promoting the partner product bundle.

Free / Lite Version to Partner Customer Base

Depending on whom a joint venture partner’s customer base includes, developing a targeted free or lite version or product samples that can be provided free to the customers is a well proven strategy to get new clients. Often just getting customers to try a product out for the first time is the hardest challenge a business can encounter. This is seen most especially when launching a new product to market. Working in conjunction with a joint venture partner to distribute product samples, free versions of a product or service to identified target customers, will get the product in the customer’s hands quickly and efficiently. This provides potential customers the opportunity to get to know your product before making a buy decision. Depending on the structure of the joint venture partnership a free product demo sent to existing customers can be included in the agreement between the two businesses. Small businesses developing a new joint venture with a much larger company may have the product samples subsidized by the larger corporation because it is in both company’s interest that the target customers become acquainted with the products and the smaller companies brand. These types of joint ventures can really launch a new product into market rapidly. This is a strong strategy to get new clients that all businesses should evaluate if it would work for them.

Partner Promo Specials

Developing unique partner promotions helps differentiate the deal that a customer gets by having an existing relationship with a business that is now a joint venture partner. This is important for businesses that develop multiple joint venture marketing relationships. Depending on the level of a joint venture partner’s commitment, special promos can be developed so that they can offer their customer base a unique offer that is not being provided elsewhere in the targeted market. This allows a business to structure partnerships accordingly. Those partners that do the most for driving new business and spending resources on marketing the partnership can receive better discounts and promotions for their customers. Promotions can set up as just a single offering with a company or have a new monthly promo, whichever makes sense for the partnership. Using partner promo codes is always a great way to organize business leads in a CRM system as they are coming in through the defined sales channels. Being able to record a promo code can help you track leads and determine which sales rep those sales are coming from, which can be great data for managing the partnership.

There are many great strategies to get new clients through joint venture marketing campaigns with partners.  Be active in identifying the right strategies for marketing the partnership.  A few of the ways a business can reach out to existing customers is to offer them a special promotion, product bundle or even a free product sample to provide the required incentive to try a new product.

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.

Reasons for Joint Ventures During Uncertain Economic Times

When the economy is in a downturn there are several really good reasons for joint ventures as a way for a struggling company to get the little extra business required to stay afloat and live to do business another day. Joint ventures provide many opportunities for companies to grow into new markets, extract additional revenue from their existing client base, and develop a strong network of other businesses that can be relied upon for supporting their customers to ensure a high level of customer retention. During tough times people do not spend as quickly or freely as during good times and so it’s very important to do everything possible to service existing customers and make it as comfortable as possible for new customers to try a product or service for the first time.

Develop New Customer Acquisition Strategies

One of the best reasons for a joint venture during a time of economic uncertainty is the potential to acquire new customers. Acquiring a customer is expensive and time consuming and the beauty of joint venture marketing partnerships is the potential to market to a partners existing customer base a product or service. Gaining access to customer lists or the capability to have a logo and company description sent out from a V.P. of Sales to existing customers can be a make it or break it opportunity for a small business in a tough economy. If a product or service your company is selling fits well with a partners existing offering you might receive new sales and never have to touch the customer because the partner is handling all of the customer facing activities and delivering your product or service to them directly.

Earn Additional Revenue

Earning additional revenue from an existing client base is an excellent reason for joint venture marketing relationships to be established with companies seeking to market to the demographic of existing customers. During tough economic times companies might be willing to negotiate better referral fees and percentages of revenue for each closed sales lead increasing the value of the partnership. Most small businesses are not servicing their customer’s entire needs and so it’s easy to identify at least 3 or 4 great potential partnerships that could support customers’ needs and put money in the company’s pockets simply for making products and services available to the company’s customers.

Create a Strong Web of Support

It is vital to create strong network of partners during a tough economy. It’s important to remain active pursuing the best and most attractive joint venture opportunities. Companies do fail during bad economies and so it is imperative that if a business has an important joint venture partner that is supporting its clients and putting money in its bank account that there is a backup plan in case a partner goes out of business. While it may not be the number one reason to continue to pursuing joint ventures during tough times, if a company that your business has a relationship with fails, it’s important to be able to quickly replace them with a new partner and promptly provide customers the confidence needed to not jump ship. Failing to not have a backup plan in place for servicing client requirements that are supported by joint venture partners is a big problem, but can be resolved by creating a strong network of associates and even partners that are in place, but not yet fully active.

There are many good reasons for joint venture marketing in a tough economy as well as during good times. Focus on developing strong JV partners to limit potential risks that may occur during a down economy and make sure to continue to track down new opportunities. Every joint venture partner is a new potential channel to acquire fresh customers and at the same time is an opportunity to gain additional revenue from an existing customer base.

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.

Techniques for Marketing Joint Ventures to Existing Clients

Executing successful marketing techniques is a key part of any marketing joint venture and often clearly defined in the joint venture marketing agreement that outlines the roles and responsibilities of each partner in the joint venture.  One of the most attractive parts of a joint venture is gaining access to new potential customers through your joint venture partner and so ensuring that the proper communication channels are in place and open is critical. The following marketing tools are excellent ways to market joint venture partnerships for both companies involved: company newsletters, email marketing, website branding, and personal introductions.

Newsletter – Both Print and Email

If you maintain an active list of client addresses or a list of emails then crafting a printed or electronic newsletter is an excellent way of educating customers about the potential products or services that are available through your new marketing joint venture.  A general guideline for writing a quality introduction to your clients / followers about a new company is to include the following: a short description of the product or service, an explanation of why you are developing a relationship with the company, how you think it will benefit your customers daily routine by utilizing the partners’ products and services, and how to best get in touch with the company if someone is interested in pursuing the opportunity.  It is always a great idea to use the company’s logo in the newsletter to assist the joint venture companies brand as well as include a web address that can be clicked and tracked appropriately if sending as an electronic newsletter.  Printed newsletters that are sent through traditional mail should include a promo code or specific phone number in order to track the business leads that are generated from the joint venture marketing efforts.

Email Marketing

Maintaining an email marketing list is very valuable for joint venture marketing activities.  An email can be easily sent to inform customers and others on your email list about product updates and special deals that only “insiders” have access to.  It is important to work closely with your joint venture marketing partners to identify the right specials and offers that you feel will best resonate with your existing client base.  It is in the interest of both parties to really focus on exactly what products and services are marketed as you don’t want your clients to feel that you are marketing those products and services that don’t relate to their interests.  If email marketing campaigns will be a core component of your marketing for a joint venture make sure that you have set up specific affiliate codes or specific landing pages so that all of the leads and successful business you drive to the partner is documented properly.

Website Branding

Maintaining an active page on your website to list joint venture partners that have products and services that would be of interest to those that visit your website is a core component to any marketing joint venture.  When your clients visit your website they should be able to access basic information about all of your partners and quickly learn about the unique opportunities that may be available for them to save money through special discounts.  A logo and company description along with the best means of contacting the company directly should be included on the partner page.  It is valuable to do a blog post occasionally about each of your joint venture partners as that will help to reemphasize the brand and your commitment to promoting the relationship to your community and allow you to expand on the benefits that your joint venture partners have to offer your existing customer base.

Personal Introductions

One of the best methods to market a joint venture opportunity is to personally introduce your clients to the partner company while you are meeting with them.  While this arrangement may not be ideal for many different types of joint venture marketing, if you are a business that has lots of direct interactions with your clients and have built deep and meaningful relationships based on trust then any product or service you recommend in a meeting when an issue may come up will be highly likely to be acted upon by your client resulting in a sale for your joint venture partner.  This type of introduction often works best when your business has some consultative role with your clients and they rely upon you to make the best decision or recommendation for them.  It is generally a good idea to have a specific sales representative or specific channel in place for you to refer these leads to so that when your client is handed off to the partner company they are treated appropriately and you get credit for sending the business over.  Individuals that consult businesses on any number of items can generate significant portion of their revenue just by having several companies that they provide referrals to when they encounter a client that needs support.

There are many great techniques for marketing joint ventures aside from these basic marketing avenues.  Make sure to be creative with your marketing campaigns, but also do the basics well so that you cover all your bases for successfully promoting your joint venture partnerships.

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.