Joint Venture Marketing: A Success for the Education Industry

Education has always been a pillar of strength upon which society rests. Although the education industry has evolved, the concept remains the same: providing the next generation with the right tools of knowledge and morals to move society a step forward.

Over the years, the education industry has evolved to where profits and balance sheets matter as much as the quality education and the right infrastructure. In an ever growing world, with opportunities increasing every day, providing the right kind of infrastructure is costly. So, for a higher education institute to live up to the standards it aspires, it needs an inflow of students and financial support from alumni, the business community and government. In order to have students, the right kind of exposure in the high demand fields is essential. Advertising and marketing, which are very burdensome to the bottom-line generally, can be aided through the use of joint venture marketing.

Captive audience

Various companies reap significant benefits from a joint venture with an academic institute. Computer and software companies and other high tech companies partner with various institutions and offer their products at lower rates, resulting in an upswing in their share of market. This is beneficial for companies seeking a captive market of students and faculty, who appreciate the access to low cost equipment or software guaranteeing a steady volume of sales. The companies enjoy an opportunity to build brand loyalty with future shoppers (college students).

There are numerous examples of joint venture marketing with college institutions with well-known brands. For years Microsoft has offered software very cheap to enrolled college students and this year Apple has heavily marketing a special discount for college students on their popular laptops. Banks also offer loans at lower interest rates to students and of course the somewhat controversial credit card offers has gone on for over 20 years.

In the real world

Recently, Google and the British library embarked on a project to digitize and publish hundreds of books previously unavailable online. This partnership will bring a wealth of never before seen information out into the digital world. It might not lead to any direct profits, but the availability of the information is tremendous for readers around the world. Google gets the chance to earn high marks for corporate citizenship.

There are various government agencies and non-profit organizations who partner with companies to provide grants for research and scholarships. They do their bit for society and they even earn publicity for it. This results in the colleges becoming an integral part of the company’s research and development for new products efforts and scientific discoveries.

Institutes have shown great success with partnerships with foreign universities and colleges giving them global exposure and international presence. One example of a technological partnership is Dell. They have academic affiliations with various universities across the nation and world. The company actively recruits from the best institutes as well.

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.

Commercial Real Estate Joint Ventures: A Profitable Enterprise

A joint venture is a business agreement in which parties agree to work together on a project sharing assets toward a common goal. Commercial real estate investment is a fairly commonplace joint venture in the marketplace. Together two or more companies can combine their resources – everything from finances, marketing, technology and staff – to develop and manage a profitable commercial real estate property such as a shopping center or office building.

The two or more companies involved in the agreement share control over construction, marketing and management and other related expenses. The partners, while sharing risks, are also able to legally keep this particular business venture separate from the rest of their organization.

There are several advantages for entering into commercial real estate joint ventures. First, it allows companies to gain access to capital which is tight in today’s economy. Also, one company may have more management related expertise than money and this allows them to continue to grow.

The challenges of the joint ventures include the amount of time required to build the right kind of relationship.  Integration can also take time as employees bring in different cultures and expectations into the venture. But the advantages far outweigh the risks involved and many companies in America are taking the plunge into such ventures.

If they build it, will the shoppers come?

Recently, Tanger Factory Outlet Centers, Inc., (NYSE:SKT) and Simon Property Group, Inc., (NYSE:SPG) announced a 50/50 joint venture agreement for the development, construction, leasing and management of a Tanger Outlet Center south of Houston, Texas.

The Tanger Outlets will be located in Texas City, TX which is approximately 30 miles south of Houston and 20 miles north of Galveston. The area receives an estimated 100,000 vehicles per day near the anticipated location Exit 17 of Interstate 45 at Holland Road. The center is expected to feature over 90 brand names and designer outlet stores when the first phase of approximately 350,000 square feet is completed. Tanger and Simon separately have a strong reputation throughout Texas and experts see this as a good marriage.

Steven B. Tanger, President and Chief Executive Officer of Tanger Outlet Centers, Inc., commented, “The opportunity to build a Tanger Outlet Center south of Houston makes perfect sense. Our partnership with Simon will provide our retail partners with what we believe are the best location and strongest development. When built, we will offer residents and visitors to this region one of the nation’s best brand name and designer outlet shopping centers with today’s style and fashion trends at the best values every day.”

Another company Worldwide Realty Corporation, the real estate arm of Children of America, specializing is also asking for interest from other firms to get into a joint venture opportunity.

Just show me the money

Another common option are lenders with money available for investment, seeking what they see believe might be good investment opportunities without the headache of daily operations. Then they partner with construction and property management firms to locate, build and lease the properties on their behalf.

Still all about the money but no hard hats involved

This week Prudential Mortgage Capital Company and affiliated funds of Perella Weinberg Partners disclosed their plans to work together to originate commercial mortgages. This partnership taps into Prudential’s credit and finance expertise and Perella Weinberg Partners’ real estate lending and investing experience.

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 Venture Marketing: An Alliance Between Service Providers

The proposal

Today, businesses can boost their bottom line while providing excellent services to their clients through joint venture marketing with a related non-competing business. The wedding industry offers several examples of this opportunity for growth through strategic partnerships. Wedding planners, photographers, florists and caterers, are just a few familiar examples of vendors able to grow their businesses through joint venture marketing.

A pre-nup?

However, given the fact the wedding industry relies heavily on a provider’s reputation, it is important you fully vet potential partners. You do not want to be judged guilty by association, avoid a potential partner seeking to reestablish their credibility based on the stellar reputation you have earned in the marketplace. Perhaps a potential partner’s roster or marketing budget does not equal yours, but you should make sure their reputation does.

A blissful engagement

Planning for her special day can be a rather stressful time for the bride, having a trusted resource is valuable during planning phase. Joint venture marketing with the right partners increases the perception of you as an indispensable resource. For instance, if a client enjoys working with their wedding caterer, they might be inclined to ask for recommendations for a photographer. A great wedding planner will have a contact list filled with suggestions for a florist or printer that will suit the wedding the couple have in mind. Nothing is more appreciated by a frazzled bride than the ability to cross off key decisions on her wedding planning checklist.

Another suggestion includes two or more vendors sharing a booth at a wedding show that is very popular prior to the kick-off of wedding season. A caterer and florist with a small marketing budget may find this is an excellent way to get their foot in the door at popular annual event which they may otherwise find cost prohibitive.

Perhaps instead of attending a crowded tradeshow joint venture partners perhaps might elect to share advertising costs of publishing an advertisement in a local popular wedding resource book. These are just a few possibilities wedding vendors can consider to grow their sales.

Collaboration can lead to one-stop shopping

The couple often leads hectic lives and coordinating meetings with florist, caterers, photographers, designers – the list goes on – is quite a challenge. However, if two or more of these vendors could a joint venture marketing partnership and present their ideas together.  The bride might find it reassuring to select two companies that work so well together and can create a cohesive vision. The bride’s planning is simplified and the vendors can grow their business while keeping their marketing costs in line.

The “I dos”

The big day comes and the wedding is beautiful. No one will sing your praises more than a bride and groom who felt not only were your services outstanding but so were the recommendations and alliances you brought to the party. After you have selected a joint venture marketing partner who shares your commitment to quality and customer service, the alliance can be an excellent way to your grow your wedding 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.

Harnessing the Power of Synergy in a Joint Venture

Synergy can be defined as the energy that is created when parts or processes work harmoniously together as a whole. When you think about it, that is the perfect definition of a joint venture as well!

When two businesses come together with the sole intention of boosting the bottom lines of both, synergy really can occur. We’ll take a look at the synergy of joint ventures in this article to inspire you to the many heights these partnerships can achieve.

Synergy in Business

When two companies come together for the purpose of creating a higher performance level together than they can achieve separately, that is synergy in the business world.

To demonstrate this concept, let’s take a look at a math problem involving horses. When two horses are able to pull 9,000 pounds together, how much can four horses pull? If you said 18,000 pounds, you would be incorrect. Four horses working together in synergy can actually pull as much as 30,000 pounds.

Now consider your business. Let’s say you have a current customer list of 5,000. You partner up with another company that has a customer list of 10,000. While the short response will be that you expand your customer list to 15,000, consider word-of-mouth recommendations, additional marketing and the advantage of business endorsements from your joint venture partner. Instead of an increase to 15,000, your new customer base might be exponentially higher simply because of the synergy created by the strategic alliance between your two businesses!

Finding Synergy in Your Joint Venture

To assure synergy in your own joint venture endeavors, you must focus on three key factors:

• Vision – You and your joint venture partner should combine strategies and opportunities to make the most of your partnership. The visions you have for your separate businesses become that much more powerful when they are combined into a single joint venture.

• Creativity – When you combine creative efforts, you inspire one another to achieve well beyond your initial goals for your business. This takes your vision to a whole new level by finding paths to make that vision a reality.

• Execution – The practical element of synergy, execution actually involves putting the vision and creativity into action. Execution combines your talents and resources to achieve the highest possible goal for the least amount risk. Execution requires teamwork – both from the joint venture standpoint and within each individual staff – to achieve the goals you set for your companies.

Synergy is not something that happens randomly; it involves preparation and communication to bring synergy into a joint venture. Before you and your joint venture partner sign on the bottom line, it is important to discuss your vision, goals and resources for your joint venture to ensure you are both on the same page and will be working together for a common purpose.

Synergy combines energy, power and resources to create something much bigger than either individual can do alone. In the case of a joint venture, synergy provides the necessary force to take your marketing to the next level so you can build an effective customer list, increase the quantity and quality of your sales and significantly boost 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.

5 Ways to Amp Up Your Internet Marketing

One of the most popular ways to make the most of a joint venture today is through effective Internet marketing that reaches a larger audience with less time and money involved. Whether you are just starting out in a joint venture for the first time or are ready to kick your current partnership up a notch, new marketing strategies are always a welcome addition. We have five ways to amp up your Internet marketing and explode your profits.

Become an Expert

Customers tend to buy from people they trust, and no one is more trustworthy than an expert in the industry. You can easily establish yourself as an expert in your specific niche by writing online articles or creating your own blog. Online seminars and tutorials can also convey to your clientele that you know your topic inside and out. The better you know your business, the more likely you will be to attract new customers and transform them into loyal clients.

Become a Publisher

Take step one a step further and become a publisher of your own work. Instead of merely posting your articles to e-zines and other websites, produce your own e-book or instruction manual that you offer through your newsletter or website. Publishing a newsletter that is sent out regularly to your customers list is another great way to alert clients to new products or limited-time offers.

Convert Visitors to Subscribers

While the initial purpose of Internet marketing through your joint venture is to get more views on your website, to really be successful, you must eventually transform those visitors to regular subscribers. There are plenty of great ways to make this transition, but one of the most effective is to offer a freebie along with a subscription to your site. It could be a sample of one of your products, free advertising in your newsletter or a free e-book.

Use Your Tools

Internet marketing offers a virtual plethora of advertising tools today, and the more you use, the better your joint venture marketing results will be. Many of these devices, such as autoresponders and email blasts, don’t cost much money, but when they are done right, they can reap great returns.

Spend time researching your many options in Internet marketing before beginning your joint venture, and then use the ones you select to the fullest to bring the best return to your partnership.

Entice Your Customers

Leave your customers wanting more with every correspondence you have with them. Let them know about upcoming promotions, articles and contests you are offering so they check back in with you often. This is one of the most effective ways to build a loyal website base that will also become a loyal customer base to boost your bottom line.

A joint venture is just the first step in building your business and increasing your profits. When you use the many Internet marketing tools at your disposal to their fullest, you are sure to make the most of any joint venture you undertake.

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.

Online and Offline Joint Venture: The Perfect Match

There is no doubt that some of the easiest joint venture happen online. However, that doesn’t mean you should disregard offline businesses as potential JV partners, just because they don’t fit your initial profile. With a bit of effort and marketing savvy, you can create the perfect business arrangement between online and offline companies. We have tips to help you make these types of joint ventures a complete success.

The Audience is the Key

Whether your JV partner is online or offline, the most important feature to look for is a company who shares your target market. If you are in the wedding photography business, look for other wedding service providers, such as florists or caterers. If you sell computer software, look for a company that provide products and services that complement technology.

By choosing a company with the same target market, your joint venture is more likely to be successful, no matter how you decide to market it.

Have Marketing Ideas in Place

Before you approach a potential joint venture partner, have some ideas on how the two of you can work together to increase customer awareness of both your business. This may require a bit more creativity if you are combining an online and offline business, but it is far from impossible.

For the online business, simply placing the other business name, address and phone number on the company website is a good start. You can also offer free advertising in your email newsletters with full company information included.

For the online customer, consider creating a brochure about your business that your JV partner can hand out to customers. You might also write a tip booklet or other promotional material that potential customers will find too handy to toss. These simple promotional items can be placed in your partner’s business where your target market can be easily reached. You can also offer discounts or even free samples at their business to entice new customers to check out your website when they get home.

Approach Potential Partners

Once you are armed with a few marketing ideas, it’s time to approach potential partners with your proposal. The best way to do this is in person, possibly with a phone call first to schedule a time that is convenient for the other business owner.

When you enter the person’s business, be complimentary about their store or the goods they sell. Explain the benefits that he will receive from your proposed joint venture. Show your ideas about how to effectively market your joint venture so that both businesses win. If you present your proposal in this fashion, you are much more likely to gain a new business partner for your efforts.

There are plenty of good JV partners to choose from today, as long as you don’t limit yourself to a preconceived notion about what these businesses might look like. Even companies that don’t have a strong online presence can be effective joint venture partners, if you choose a business with a similar target market and have a solid marketing plan in mind before either business signs on the 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.

5 Ingredients of a Successful Joint Venture

Joint ventures are an effective way to market businesses today, but the truth is that many of these partnerships often fail before they get a real chance to make a difference. Why? Usually because the business owners involved in the partnership didn’t know the ingredients of a successful joint venture.

Thankfully, we have those ingredients here to help you start your joint venture on solid footing.

A Good Match

The company you choose to be your JV partner will have a lot to do with the success of your venture overall. The primary key to choosing a partner is to look at their target market. If it is similar to yours, the match-up is more likely to work.

At the same time, do not choose a partner who offers products or services in direct competition to your own, or you will cut your profit potential right from the beginning of your partnership.

Team Building

Once you select a company with a similar target market to your own, spend some time with that business owner to see if he really seems committed to the idea of a joint venture. Once you both sign on the bottom line, it will be up to each of you to put in the necessary time, effort and resources to make the joint venture work.

If a potential partner seems disinterested or non-committal, you may want to look for another company that is more zealous about the joint venture idea.

A Written Contract

While you may like and trust the company you choose as a joint venture partner, you still want to have the terms of your agreement in writing to protect the interests of both companies. Your joint venture contract should include details on the resources coming into the joint venture, the method by which profits will be split and a time frame for the agreement. You can find templates for these contracts online or talk to a lawyer who specializes in business arrangements like these.

A Solid Marketing Plan

Joint ventures are only as good as the marketing you put into them.  If no one knows about your joint venture, then they will be less likely to check out your business. Come to the table with a marketing plan in mind, which the two of you can refine according to your vision, skills and resources. The more effectively you market your joint venture, the more it will bring back in terms of customers and profits.

Ongoing Contact

Joint ventures often die out because the partners don’t continue the relationship, as they should. Schedule periodic meetings with your joint venture partner to assess the current state of your marketing efforts and make adjustments as needed. This way, if the partnership runs into problems, you will be equipped to address them more efficiently.

Joint ventures are a highly effective way to build businesses, if they are created properly. With these ingredients in hand, you are more likely to create a successful joint venture that increases your customer list, profits and 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.

10 Low-Cost Ways to Market Your Joint Venture

Once you decide to embark on a joint venture, it may seem as though the hardest part of the process will be to find a prospective partner that will prove to be profitable and effective. However, once that partnership is in place, the art of marketing your new union will make all the difference between a joint venture that is successful and one that fizzles all too quickly.

To help you prepare for the marketing aspect of your joint venture, we have 10 low-cost marketing ideas to get you started.

1.  Search Engines - Using search engines to boost your rankings on places like Google will bring a lot more traffic to your website with little up-front costs by guiding prospective customers to your website before they see the business down the list.

2.  Autoresponders – This technique ensures you don’t let a single prospective customer slip through your fingers by automatically making contact with every individual who contacts you and maintaining that contact to maintain interest in your company.

3.  Link Exchanges – So easy to do and so effective when used in the context of a joint venture, link exchanges allow you to exponentially increase traffic to your site through your joint venture partner.

4.  Blogs - Establishing a blog for your joint venture is an excellent way to set yourself up as an expert in your field and increase your credibility within your industry.

5.  Articles – Also a means of building expertise and credibility, articles can be published at a variety of online publications and e-zines.

6.  Email Blitzes – This is a great strategy for reaching a multitude of customers and prospective customers in a single swoop, particularly when the message entails a free sample or special promotion to draw customers to your website.

7.  Press Releases – Press releases announcing your new joint venture are a good way to make the general public aware of your new partnership and stir up interest in your goods and services.

8.  Social Marketing – Cheap and widely used, there is almost no better vehicle for making your joint venture known than on social networking websites like FaceBook and LinkedIn.

9.  Gift Events - You can do these online or from a brick and mortar location, but combining resources to provide prospective customers with free gifts and other incentives is a great way to alert people to your business.

10.  Traditional Ads – While many of these methods tend to be a little pricier than online marketing strategies, newspaper and television ads, as well as mass mailings, are still an effective way to reach prospective customers in your immediate area.

There are plenty of inexpensive ways to market your new joint venture to increase the effectiveness and profitability of your partnership. If you are planning to contact a prospective JV partner, it is a good idea to have a few of these strategies ready to present in your initial pitch for your joint venture. Once the partnership is signed and sealed, begin using these strategies right away to promote your joint venture, increase your customer traffic and explode your sales.

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.

Using Joint Ventures for List Building

Everyone in business knows that the list is where it all begins. With a roster of contact information for potential customers, you can transform those names to loyal clientele that pays your bills and boosts your profit margin.

One of the most effective ways to build your list without spending a fortune is through joint ventures. We’ll show you how to use these strategic alliances to build customer lists any small business owner is sure to envy.

Cold Lists vs. Warm Lists

The cold list is a roster of potential customers that you buy or rent from a company that specializes in such services. You don’t know any of the names on the list, and more importantly, none of the potential customers on the list are familiar with your business. Cold lists typically boast about a 2% return. This means that for every 1,000 individuals on the list that you contact, you can count on about 20 sales. When you consider the cost of renting the list, you can see why this return doesn’t offer as much value as most small business owners would like.

Now consider the warm list. This is a list of customers who already have an established relationship with a particular business. If that business becomes your joint venture partner, you automatically have access to the names on the list as well. You didn’t have to spend any money to rent the list of names from a service, as the names were provided as part of your joint venture agreement.

Now consider the difference in returns between customers who are already familiar with your JV partner and those who don’t know your business at all. Your rate of return suddenly skyrockets from 2% to 24%!

The warm list is obviously the more attractive choice because in addition to the customer contacts you receive, you also get an endorsement from a company those customers already enjoy shopping with. If they trust your JV partner, they will be more likely to trust you as well.

Since statistics show that the initial contact with customers will make all the difference in whether they transform from first-time shoppers to loyal clientele, you can see the value of a warm list is really exponential. In addition to receiving customer contacts, you are getting an instant positive reputation with every name on your list.

Giving in Return

Bigger companies with established customer lists may have a number of advantages in mind when they enter into a joint venture with a smaller company. Your new products and services give the larger company a chance to broaden their product base without the expense of developing new products themselves. They might also want a portion of your sales in exchange for their list. With the huge customer growth you can expect from a warm list, the commission you pay out will pay for itself in a larger customer base and bigger profits.

The secret to a successful business lies in the list, where it comes from and how it is put together. By cashing in on the established, successful list your JV partner has built, you can explode your customer base and your profits relatively quickly and inexpensively.

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 Tips for a Perfect First Joint Venture Meeting

Often the most challenging part of a joint venture is getting the partnership set up in the first place. Finding and wooing potential partners can be an intimidating process, particularly if you don’t consider yourself a “people person.”

It helps to go into that initial meeting armed with all the information you need to sell your business and your joint venture concept. We have tips to ensure the first meeting with your prospective partner goes off without a hitch.

Know Your Partner

Before you meet with your potential JV partner, research the company thoroughly to know exactly what you are getting into. Know their precise target market so you can show how you are catering to a similar client base. Find out what holes in the company profile you can fill, so you can sell the advantages of the joint venture at the very first meeting.

Business owners will be flattered that you took the time to familiarize yourself with their company, and they will be more likely to listen to your pitch in full.

Sell Your Benefits

Instead of talking about the benefits the JV will offer you at the first meeting, focus instead on how the proposed alliance could benefit your partner with increased exposure and sales. If you are the smaller company looking to lure a larger business, offer a portion of your sales in exchange for the endorsements you stand to receive. By letting a prospective partner know what’s in it for him, you will be more likely to lure them into your joint venture proposal.

Prepare a Comprehensive Marketing Plan

When you come to your initial meeting with a comprehensive marketing plan already in place, you show that you’re interested enough to give it your best effort. While the proposal you bring to the table may need some tweaking once the partnership is formed, by bringing a plan to the table in the first place, you are letting prospective partners know you have the time, resources and marketing savvy to see the project through to its fullest potential.

Ensure a High Quality Product or Service

Before approaching potential partners, determine which product or service you want to bring to the table. Make sure it is the best your business has to offer, as well as an effective complement to a product or service your partner will provide. When you come in with quality, your prospective partner will be more likely to take your proposal seriously and see it as a mutually beneficial arrangement for both of you.

The first meeting with a prospective JV partner can be nerve-wracking, but preparation is the key to a successful encounter. When you come to the table with knowledge about your potential partner’s business, the possible benefits he might enjoy and a comprehensive marketing strategy, a potential partner will be much more likely to take your proposal to heart.

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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