Attract New Clients with Regional Partners

If your business is looking to attract new clients through joint venture partnerships, identifying businesses that have significant market share in a specific region is an excellent way to tap new markets that otherwise are impenetrable. Leveraging partners in hot markets whether that it’s a city, state, or country is the fastest way to reach communities of potential new clients.

Developing a regional or locally focused strategy for joint venture marketing partnerships will generally mean working with smaller businesses versus large national or international corporations which require specific techniques to make successful. Small business owners may be less inclined to risk hurting their existing client base by introducing a partner’s products or services but due to their specific market intelligence and the close relationships with your target customers, once a partnership is crafted new business should close quickly.

Finding Regional Partners

If your company has made the decision to attempt to attract new clients with regional joint venture marketing partners than it’s important to create a database of potential partners. There are several sources that can be used including online and offline methods. A few of the best locations to find information about what companies exist in the markets you are seeking are:

Yelp - There is loads of business listed in Yelp. Search for the types of companies that are perfect fits for your business based on the industry and then by city for the regions that you are pursuing. Make sure and review the ratings and comments about the business.

 

Trades Shows – Finding regional partners by attending industry trade shows is an excellent way to not only find which small business exist in the space, but it’s also a great opportunity to meet and discuss potential partnerships with business development professionals that often attend trade shows for companies. Reviewing trade show websites and looking through the list of attending businesses can also help you identify which regional businesses are out there.

 

Outsource Business Development - Hire a local person to assist with the legwork of finding the right potential partners. By working with a person that resides in the location that you want to take your business into is an excellent way to tap local knowledge and get personal introductions and referrals to likely candidates.

 

Benefits for Small Business Partners

Make sure that you have fully thought out what the benefits are that a partnership with your business grants to a small business partner. Small businesses are likely to be extremely cost conscious concerning exploring a potential new partnership. Most small businesses will not have a person that is dedicated entirely to creating partnerships with other business and so you’ll be taking time away from a sales person or executive management right away when discussing a partnership strategy. Due to this fact it is vital that you have a carrot to offer to small business owners so they can see how a new relationship will generate revenue quickly. Partnerships not able to attack “low hanging fruit” which result in immediate ROI for a small business will be less likely to succeed or turn into a long lasting relationship.

Including marketing support resources will help a small business owner look favorably on your idea of developing a business relationship. While it is essential that you attract new clients for your own business, a partner will often be looking for opportunities to attract new business for themselves as well. That is of course unless the revenue share involved in the partnership is so good that it does not matter, however most small businesses will want to grow there number of clients as well. Marketing support can be as limited as just providing the basic marketing collateral already printed and prepared to be handed out to existing clients.

Finding the right local partners is a great way to build a roster of new clients in a specific region, but make sure that your small business partners are well taken care of and can see an ROI in a short time frame. If you can deliver to a small business partner it can be your greatest ally in a new market, however failing to be conscious of their specific interests and resources can see a partnership deteriorate before getting off the ground.

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.

Discover more Joint Venture Marketing Strategies join his free report on Joint Venture Marketing.

5 Ways Joint Ventures Speed Up Sales

If you are looking for a way to boost your profit margin in a hurry, there is no better way to do so than joint venture marketing. This approach offers exponential returns by opening the door to a plethora of marketing options. When you pool your time, talent and resources with another company, you build on one another’s reputation, customer lists and Internet savvy for bigger, faster sales.

We will show you five ways joint ventures can speed up your sales and explode your profits.

Reputation

Building an online reputation with potential customers can be much more challenging than promoting confidence in a face-to-face transaction. JVs allow you to build a reputation quickly and efficiently by riding the coattails of a larger, more established business.

If you want to increase sales in a hurry, there is no more effective way to establish an immediate reputation with your target base than through a JV relationship with another business in your industry.

Endorsements

By the same token, endorsements help online customers make faster decisions about whether to throw their business your way. If they already work with an online company they like, they will be more likely to buy from other businesses that company recommends. A simple recommendation from your JV partner provides you with immediate sales from their customer list, while you are offering similar benefits to your partner from your own lists.

Shared Customer List

Business owners know all too well the time and energy that goes into building customer lists. Wouldn’t it be great if you could just wave a magic wand and make the names on that list multiply by themselves? With a joint venture, that is very nearly what happens.

Once you and your partner have established a relationship of trust, sharing customer lists allows you to increase your target base nearly automatically.

Better Internet Marketing

There are many avenues of Internet marketing today – so many, in fact, they can effectively muddle the intentions of even the savviest business owner. When you join forces with another business, you also combine time, talent and resources to exponentially broaden your Internet marketing opportunities. You can take advantage of many more advertising avenues without waiting weeks or months to research your marketing approach and create a strategy that incorporates new marketing methods.

More Traffic

If one business owner can generate a certain amount of website traffic in a single marketing effort, it stands to reason that combining efforts with a JV partner will drive even more traffic to your website in a relatively short period of time. In addition, the strategic alliance you form with a partner within your industry ensures that the traffic you do drive to your site is more likely to buy from you the first time they find you. Targeted traffic in a relatively short period of time is one of the greatest advantages of joint ventures today.

JVs are an excellent resource for boosting sales in a relatively short period of time. When you combine resources, talent and customer lists with another business in your industry, you can see higher sales and bigger profits quickly and effectively.

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.

The Customer Connection: How to Get It

The primary purpose of a joint venture is to build your customer base by exposing your company to a wider range of targeted potential customers. However, the bulk of a company’s profits come from repeat business, which means connecting with your customers in a way that keeps them coming back for more. We have a few ideas on how to make and keep a customer connection that keeps on giving to your bottom line.

Communication is Key

If you truly want to connect with your current customers, the first step is to talk to them regularly. Greet them by name when they walk into your business and ask how they are doing. Learn the names of their children, pets or favorite sports teams. Ask what they think about your business and what they would change if they could. These regular exchanges don’t have to take a lot of time and effort, but they can make the world of difference in how often a customer chooses your company for his business.

Listen to Them

Customers will provide plenty of feedback about the quality of your business, and all you have to do is listen to what they have to say. However, active listening is a skill that is cultivated through use and practice. Active listening involves tuning into your customer’s words and repeating their meaning back to ensure there are no misunderstandings.

During the active listening process, you should be able to identify any potential needs your customer might have and provide effective solutions to those needs to enhance your customer’s satisfaction with your business.

Provide Incentives

Everyone likes to be appreciated, and your customers are no exception. Show them what their business means to you by scheduling periodic customer appreciation events. It might be coffee and donuts or a complete meal. You might also do a frequent customer mailing that includes special discounts only available to current clients or provide a special sale open only to those special people. If your cash is limited, get creative in your appreciation offerings, such as a special express line for current customers or a customer card that offers a discount after so many visits to your establishment.

Solicit Feedback

Some companies use customer surveys, while others take a less formal approach and simply ask customers what they like and don’t like about your business. You can have staff do follow-up calls after working with customers or send a mailing asking for customer feedback. To ensure you get a good response from your request, provide a small incentive with the survey, such as a discount on the next visit after the survey is returned. You might be surprised at how much you can learn about your company by simply asking the people who patronize it most.

Customer connections are the most effective way to build a loyal customer base and a healthy bottom line. By taking the time to forge professional relationships with the people who patronize your business most, you are more likely to keep those customers satisfied and coming back for more.

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.

Customer Loyalty: What it is and How to Build It

Joint ventures are an effective way to capitalize on the customer loyalty of more established businesses. After all, if customers are loyal to one company, they should be more than willing to transfer their loyalty to partnering companies as well, right? Maybe not.

While you can build a healthy customer base through JV marketing strategies, you will have to put in your own efforts when it comes to transforming first-time customers to loyal fans. We have tips to help you build customer loyalty in the new clients you get from your joint venture.

Communication

Keeping in touch with your customers is an essential component to nurturing a loyal, trusting relationship. Talk to your customers when they come into your business, whether it’s simply inquiring how they’re doing or how they think you are doing. Find out what their real needs are to determine if you are meeting them adequately. Relate to them on a personal level whenever possible by asking about their kids, pets or favorite sports team.

Written communication is another effective tool in building customer loyalty, with email blitzes and mail promotions to alert customers to special sales and new product lines. Birthday and Christmas cards to your regular customers also go far in building a healthy relationship that will keep those customers coming back time and time again. Monthly newsletters keep your business at the forefront of your customers’ minds, as well as keep them up to date on your latest offerings and promotions.

Customer Service Training

Customer loyalty originates at the front lines of your business, so make sure your employees are well trained in the fine art of customer service. Teach your staff how to go the extra mile for regular customers, how to handle customer complaints and when to cross-sell products and services. When your staff knows how to care for your customers properly, they will build a relationship with your clientele that will keep both employees and customers around for the long haul.

Reliability and Follow-Through

Your word means everything when it comes to customer loyalty, which means if you say a product will be in on Friday, it must be there for your customer to pick up. If a customer issue requires follow-through by you or one of your staff, make sure that follow-through is completed in a timely fashion. If a situation arises that prevents you from keeping your word, communicate this to your customer immediately to alert them to the problem and what you’re doing to remedy the situation. When customers feel like they can trust you in handling their business, they will stick around much longer.

Customer loyalty begins with your JV partner, but it doesn’t end there. Customers that have been loyal to your partner must see the advantages in frequenting your establishment as well. You must prove that your own company is equally deserving of the their loyalty by showing yourself to be reliable, trustworthy and helpful. Customer loyalty goes a long way in maintaining a good sales record and a healthy 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.

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 Customers Want from Your Joint Venture Partnership

The ultimate goal of a successful JV partnership is more customers. However, many business owners get so caught up in the process of landing good joint venture prospects and establishing partnerships that they tend to forget that ultimate prize.

To ensure your JV partnerships are as profitable as possible, it helps to look at them from the customer’s point of view. Here are four features of your JV partnership that your customers will be looking for.

Customers Want to Feel Important

Customers like to feel like they are important to your company. This can be achieved through a JV partnership, particularly when you choose to work with other businesses that put customers first as well. When a customer is treated well at one company, he will be more likely to visit other businesses the original company recommends. When you follow up with your own top quality service, your customer feels that he has joined an elite group where his opinion matters and his needs will be met.

Customers Want Your Expertise

Customers also want to know that you are knowledgeable about the product or service you are selling. They want the confidence in knowing you will answer their questions accurately and objectively to guide them in their shopping process. When you align yourself with another expert in your industry, you are seen as more knowledgeable yourself. Choose JV partners that are well versed in the goods they sell to build confidence with your own customer base.

Customers Want Convenience

Customers primarily shop with businesses that make the process as easy and quick as possible. To ensure you exude that convenience through your JV partnership, use clear text in your advertisements and create links between your business websites that are easy to navigate. When customers arrive at your website, it should be easy for them to find what they are looking for, with a quick, user-friendly shopping cart that makes checkout a breeze. Before approaching JV prospects, check their websites for easy navigation as well to ensure they are providing the same convenience you strive for with your customers.

Customers Want a Deal

Contrary to what many might think, customers aren’t always looking for the cheapest product possible. Most will gladly sacrifice bargain-basement prices for high-quality goods and customer service. However, the majority of clientele will be more likely to buy from you for the first time if you make the initial purchase a little less costly. Advertising special offers or providing coupons through your JV partner can help boost initial sales to build a bigger customer base. Back up your low prices with top-notch service and a good product so your customers feel they get the most value when they shop with you.

Understanding customers is an important step in building a successful JV marketing campaign. Choose companies that share your customer service philosophies and be prepared to make the most of your customer’s experience when he reaches your website. These simple tips will go a long way toward JV marketing efforts that are effective and profitable.

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.