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.

Joint venture madness (your gain multiplied)

joint venture marketing

I get questions every day about joint venture marketing and partnership deals and how to navigate the often times uncertain playing field.  So if the subject of joint venture marketing has you confused, annoyed, perplexed, or simply lost as to the best way to get started and profit from partnership deal, you’re not alone.

As a thank you to you, I want to answer any question that you can possibly think about that is related to joint venture marketing or doing partnership deals.

Why am I doing this? Because I know getting started with your first deal, gaining momentum, getting all the pieces together before proposing a deal can be overwhelming and uncertain. You know what they say, “You only get one time to make an impression” (positive or negative) well, this is very true when proposing a deal to a potential partner.

You reap the benefits of co-creation…

Keep reading because in the true spirit of partnership deals, you’ll not only get your question answered, but I’ll give you the answers to dozens of other questions that I get from other people on my list. This is a true partnership optimization technique. To make a partnership deal beneficial to all parties involved and create a win-win for each partner, you must “give-to-get”. By contributing, you’ll get the added benefit of dozens of other peoples perspective and answers to questions you wouldn’t have thought of on your own.

=====> Click here to get your question answered (and the questions of dozens of others)

I’m not asking for anything in return for answering your question. I’m not going to try to upsell you into any type of program or product. This is 100% gratis to you! This is simply my way of saying thank you for staying on my list, opening my e-mails, and taking the time to understand and realize the powerful, underutilized profit potential of doing joint venture partnership deals.

Simply click on the link below, and type in your question. I’ll either answer your question and email back to you or I’ll setup a webinar we’re I’ll answer the live for you. I’ll answer any question you have related to joint venture marketing and doing partnership deals.

I know it’s the middle of the holiday season, so I’ll answer your questions next week, after New Years.

Here are some ideas or suggestions of things that you might want to ask me.

1. Where do I start?
2. How do I propose a deal?
3. What should I offer?
4. What’s the best way for a beginner to get their first deal?
5. How much should I charge?
6. I’m new to deal making with no experience so how do I gain a partners trust?
7. How do I get new clients starting within the next 24 hours?
8. I don’t have a product or service, can I still make money as a deal maker?
9. How do I find a good, ethical partner that won’t rip me off?
10. How do I track the money when I do a deal?
11. How can I use the Internet to find people and companies looking to partner with?

=====> Click here to get your question answered (and the questions of dozens of others)

To mutually beneficial deal making,

Christian

joint venture marketing

Defining the Relationship in a Joint Venture Marketing Plan

Business is all about developing relationships and forming partnerships to get your business off the ground. A poorly planned joint venture is destined to fail from the very start. One way to ensure this doesn’t happen is to create a joint venture agreement that is aligned with the goals of your JV.

Reciprocal

Reciprocity is very simple. If you’re good to your partner and create revenue for them, they’ll want to reciprocate. The referral mechanism for a reciprocal agreement could be as easy as displaying your partner’s business cards or adding its logo to your marketing materials. You are basically saying you give your partner’s company your stamp of approval. Think about how your pediatrician can recommend a good nutritionist for your kids, or how many Wal-Mart locations have a McDonald’s inside the store; this is reciprocity at work.

In mid-July, American Airlines, British Airways and Iberia were finally able to announce their joint venture. The European Commission had approved their partnership which allowed them to expand their code sharing. The companies were able to sell their partners’ flights under their own name and flight number. This venture gives American Airlines more cities to sell flights to and from Europe.  British Airways and Iberia would be able to use American Airlines extensive network in Canada, Mexico, the United States and South America. This is an example of a multi-national company successfully designing a reciprocal relationship that should fit the needs of both organizations. However, small local companies can do the same.

Profit Sharing

Profit sharing also means risk sharing. When you decide to choose a profit sharing joint venture, you’re also agreeing to share half the risk and half the potential losses. To avoid confusion the contract must clearly state that both companies are equal partners. All profits, risks and loses are shared equally between you and your joint venture partners.

Delta Airlines and Air France/KLM put together a $12 million per year profit-sharing venture which would allow the companies to become a single carrier on North Atlantic routes. This offer also extends to a previous venture between Northwest and KLM which has been in place since 1997. This is the most advanced model of successful international of airline cooperation. The benefit to customers and the businesses are paramount. Where can you form a joint venture marketing agreement with a local partner that will answer the needs of your customers?

The Best of Both Worlds

Recently SkyWest and Virgin Blue Group signed a 10-year joint venture agreement which will provide Australia with up to 18 Virgin Blue-branded aircraft. This venture makes it possible for SkyWest and Virgin Blue to operate at a number of existing and new destinations in Australia.

If both reciprocal and profit-sharing agreements seem like a good option for your business, you’re in luck because a joint venture marketing agreement is completely customizable. All you have to do is put what you want in writing to be presented to your potential partner at negotiations. You may have to make some compromises, but that’s the case in most business 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.

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.

4 Ways Joint Ventures Power Up Your Marketing Campaigns

If you are looking for a way to amp up your marketing efforts, a joint venture may be just what you are looking for. These strategic alliances provide an additional boost from another company that brings its own wealth of resources, talent and customer lists to the table.

Joint ventures offer exponential returns on your advertising dollar because you’re multiplying all of your efforts times two, or the number of JV partners you end up with in your entity.

We have four ways joint ventures can add the oomph you need to your marketing campaigns.

Two-for-One

Let’s say you are planning to use backlinks as part of your online marketing strategy. These carefully placed links provide prospective customers with a direct connection to your company’s website, as well as SEO benefits. Of course, backlinks are not free; you usually need to provide cash and possibly text to post your backlink on other websites.

When you have a JV partner, you can double your backlink potential by utilizing all of your partner’s resources, as well as your own. In addition to backlinking on each other’s websites, you can work together to produce content for e-zines and other resources to drive as much traffic to your online business as possible.

Endorsements

Larger companies will often agree to endorse smaller businesses for a portion of their profits. While this might seem costly up front, the value of an endorsement can rarely be beat. When you get another company to recommend your business, you immediately establish customer confidence that is challenging to produce with online businesses today. Every customer that is satisfied with the products and service they receive from your JV partner will be much more likely to try out your business as well.

The Art of Sharing

Even small businesses have small customer lists early in their operation. Just imagine what can happen if you exchange your customer list with another business that offers a related product or service to your company. You immediately explode your customer list with a long line of potential customers who are already interested in the goods or services you are selling. Joint ventures are target marketing at its finest, costing little up front, but providing a wealth of returns in the long run.

Pooling Resources

There are many great methods for online marketing today, but all of them are guaranteed to take a major bite out of your relatively small advertising budget. When you partner up with another business, you combine your advertising dollars and your talent to get maximum impact with a minimal upfront investment. You instantly gain the ability to diversify your marketing strategy, with enough money and resources to enable a variety of advertising techniques.

Joint ventures are the perfect solution for small businesses to maximize their marketing potential without much time or cost up front. For those that have little advertising money to grow their customer base when business is just getting started, joint ventures offer the opportunity to make the most of the small advertising budget available. By pooling talent, resources and customers with another company, you instantly power up your marketing returns for better business and a healthier 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.

Is it Time for a Joint Venture?

You may have heard about the popularity of joint ventures today and how business owners are using them to build a targeted market base and increase profits. However, you aren’t completely sure whether your own business is ready to undertake this kind of partnership.

If you are feeling a tad apprehensive about the idea, consider these factors to determine whether it’s time for you to take the next step in your marketing efforts.

What is Your Strategy?

Before you set out to find a JV partner, consider your own business strategy. While joint ventures can fit the bill for many business owners, they aren’t the right fit for everyone.

When you take the time to define your own business goals, you can see whether a joint venture is an appropriate strategy. It also helps to know your goals beforehand to ensure you and your JV partner are on the same page in terms of what’s best for both businesses.

What can You Bring to the Table?

Evaluate the strengths and weaknesses of your own company. Any potential partner will want to know how your business will benefit theirs in the partnership you form.

Know what you have to offer before approaching any prospective partners. By defining your own business needs, you’re better prepared to approach potential partners.

Where is Your Customer Service?

When you implement a joint venture, the idea is to grow your customer base quickly. Make sure your staff is prepared to handle an increased customer flow before you set out. Service training and adequate resources to care for more customers should be in place prior to a marketing blitz; otherwise, you may only succeed in frustrating new customers who will never set foot in your business again.

Are You Ready to Sign?

Before you begin a partnership with another company, it’s important to familiarize yourself with the legal aspects of this type of business alliance. No joint venture should ever be considered “official” until a contract is drawn up and both partners have signed on the bottom-line.

Before you begin searching out prospective partners, educate yourself about the common legal issues facing joint ventures so you’re ready to address them as soon as you locate another business interested in partnering with you.

Joint ventures can be an excellent marketing tool that will give you plenty of bang for your advertising buck. They’ll allow you to team up with other businesses for the purpose of increasing your targeted customer base and bottom line. However, a little preparation goes a long way in ensuring you are fully prepared to embark on a new partnership and manage all of the benefits and possible issues that might accompany your agreement.

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.

Due Diligence in a Joint Venture

When you enter into a professional partnership with another company, it’s important to make sure that business is the type of entity you can trust and work with effectively. Joint ventures are the ultimate business relationship, uniting two or more companies for the purpose of marketing, increasing a targeted customer base and building profits.

If you want your joint venture to be successful, you must thoroughly evaluate your potential partner before entering into a professional relationship with them.

What is Due Diligence?

Due diligence is a process that is used to thoroughly research a business you’re considering for a joint venture. It may involve a number of steps, including legal obligations, research and investigations into a company.

It’s typically used by venture capitalists considering an investment into a startup company. However, it is also an essential process for anyone who is considering a partnership with another individual or business and wants to ensure that union is a success.

What is Included?

When you begin the due diligence process with a potential JV partner, there are a number of documents to research:

• Corporate records
• Financial information
• Background checks of business and owner
• Contingent liabilities
• Business plan
• Sales and marketing records

While this is a fairly comprehensive list, it is by no means exhaustive. For example, if your purpose is to ride the coattails of a larger, more established business; take some time reading online reviews of the company, its service, and the products it provides. The last thing you want to do is enter into a partnership with a company that has a poor reputation with the general public.

In addition to reviewing a company’s business plan; find out what the company expects from the joint venture you’re looking to start. Ask potential partners what their intentions are for the joint venture to ensure you’re both on the same page with the terms and benefits. Find out what types of marketing strategies the company has used in the past and which advertising tools they are most comfortable with to compare with your own advertising strategies.

It’s important to note that in the case of venture capitalists, the large majority of potential relationships that are investigated do not make it to the final contract signing. Issues may arise through the due diligence process that give pause to those ready to invest their money into other businesses. The same might be true for joint ventures that are properly vetted, but this should provide peace of mind in knowing the companies that do pass muster would be more likely to provide a mutually beneficial partnership.

Using due diligence to properly research potential JV partners is an important step in any successful arrangement. Keep in mind that your joint venture may be designed to go on for some time and involve a multitude of marketing strategies and shared financial arrangements. When you take the time to thoroughly investigate a company before agreeing to a professional relationship, you are less likely to face unpleasant surprises throughout your partnership.

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 Questions to Discuss before Setting up a Joint Venture

A joint venture is an excellent way to escalate profits with little upfront cost as long as the joint venture agreement you create is a beneficial one. Unfortunately, too many joint ventures begin without adequate thought or preparation, leaving them floundering dismally in no time at all.

To help you and your JV partner set yourselves up for success, we have five questions to discuss before anyone signs on the bottom line.

Who is Your Partner?

You may think you know a potential partner well enough, but until you have performed a thorough background check, you should avoid any sort of formal agreement. Find out if your potential partner has any type of criminal record, individually or in his business dealings.

While most business owners are on the up-and-up, those who are not just might be looking for a joint venture to legitimize their own company.

Who is Your Customer Base?

Joint ventures are most successful between businesses that offer related products that are not in direct competition with one another. This ensures you are catering to a similar target audience and that the advertising dollars you put into the joint venture benefit both partners equally.

Take the time to fully analyze the customer base of both businesses. You want to know that the target audience is similar enough for the venture to be successful.

What are Your Goals?

Joint ventures may come with different goals each partner is hoping to achieve. This could make it difficult to define success in the relationship. Ask a potential partner what he wants most out of his business, and what he plans to do to achieve it. Make a list of what each of you hope to get out of the joint venture. Look for similar goals up front before launching into an agreement.

What are the Rules?

Nobody likes to talk about rules; they squash creativity and limit the scope of the endeavor. However, rules are absolutely necessary in a joint venture to ensure the interests of both parties are adequately protected.

The rules to which you agree for your joint venture should be clearly spelled out in a written contract. If you aren’t sure what the rules should be, talk to an attorney that specializes in the specifics of a JV.

How Long Will it Last?

Some joint ventures are open-ended, while others have a set date to disband. Even if you don’t want to put an end date, it’s a good idea to set a date when you will review your partnership and determine whether it should continue at that time. By creating a definite time frame, you avoid a problem with one partner wanting out while the other is still benefiting from the agreement.

Joint ventures are highly successful methods for growing businesses, as long as they are used with the best interests of both companies in mind. By taking time to establish the parameters of your agreement up front, there will be fewer misunderstandings and a greater likelihood of success.

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 Talking Points Before Agreeing to a Joint Venture

Joint ventures have long been touted for their ability to boost profit for little up-front cost, but there is no guarantee they will be successful. Unfortunately, many business owners dive in without much thought or discussion from the get-go, resulting in a partnership that is disorganized and leaves expectations unfulfilled.

We have five talking points to include in your discussion when you’re contemplating a joint venture to ensure everyone is on the same page right from the start.

Your Purpose

What is your reason for entering into a joint venture? Is it to build your customer list through effective online marketing or boost your profits through cross sales? Are you more interested in investing back into the JV to make it grow or merely using it as a marketing tool? Answer these questions during initial discussion to make sure both partners on the same page.

Your Commitment

Determine up front how much time and energy you are willing to commit to a joint venture and then follow through with your promises. One of the easiest ways to make a JV partnership go bad is to fail to live up to your initial commitment in terms of your time and monetary investment. Know what you can do at the beginning of the partnership and you will be much more likely to see it through to the end.

Your Skill Set

What can you bring to the table? Perhaps you’re a master of SEO and can write a viral, linkbait article. Maybe you have customers who are willing to write positive reviews on your partner’s products. Every business owner has something to offer, so pool your resources to produce the most effective marketing partnership possible.

Your Profit Sharing

This talking point cannot be underestimated because money is probably one of the touchiest points in any type of partnership. Know precisely how profits from the joint venture will be split before you sign a contract, and make sure the specifics of your agreement are listed in writing. There is nothing more important than protecting the financial interests of all the partners involved.

Your Timeline

Some JV partners make the mistake of failing to put a set time limit on their JV agreement. This makes it difficult to dissolve the arrangement if it fails to produce the expected results. Every joint venture should have a deadline, even if the date is simply an opportunity to review the partnership and determine if it will continue. Put the date in your contract, so everyone involved knows exactly what to expect.

Joint ventures are a successful way to build businesses, if they are handled properly. Once you have identified a prospective JV partner, it is time to sit down together and hash out every one of these talking points before drawing up your contract and signing on the bottom line. A little homework up front ensures everyone will remain happy with the arrangement well into the future.

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.

Getting Bigger Joint Venture Partners to Say Yes

You may think that the hard part is over when you have completed the research and found potential JV partners that can offer the greatest benefit to your business. However, that’s just the beginning. Once you have a list of bigger and better joint venture partners, it’s time to woo them into your corner and get them to say yes to your business proposition.

We have tips to help you hook the big companies and get them to go along with your potential JV partnership.

Know Your Potential Partner

Getting a JV prospect to say yes begins by taking the time to get to know the business so you can approach them on common ground. Look further than merely the benefits you stand to receive from the potential partnership. Consider also the advantages your prospective partner might reap from working with you. Get a good feel for the demographics of their customer base and how well it matches up to your own. Know their product and their reputation so you can wow them with your knowledge of their business from the very first contact you have with them.

Get Personal

Canned email or even snail mail propositions to JV partners do not typically work, primarily because they are too easy to ignore. Forget the written correspondence and instead, pick up the phone and call a prospective partner. You can use the personal phone call as a follow up to a personalized email if you prefer, but direct contact between you and your JV prospect is a must if you want another business to sit up and take notice of your company. The more time you take to craft a professional, thorough agreement with a prospective partner, the more likely your prospect will sit up and take notice of you.

Show the Benefits

Sure, the primary reason for a JV partnership is to grow your own business, but you’ll be more likely to gain a partner if you show what you can do for them. You might be thinking that you don’t have anything to offer a larger, more established business, but think again. You can always offer up a share of your profits and perhaps a relatively large share, if you are a very new business with few assets under your belt at this point. Don’t despair over the idea of giving a significant amount of you money to a JV partner; you will more than make up the difference with a larger customer base and increased sales.

Landing the big businesses for your JV partnership isn’t difficult, but it does require a bit of marketing savvy to ensure it is successful. Spend the time researching and putting in the necessary footwork at the beginning to find the best partners and craft a professional, beneficial agreement that your prospect will be sure to notice. With these tips in mind, you will be more likely to sniff out and attract the best businesses to effectively build your customer base, sales 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.

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