Rebranding a Product or Company to Attract New Clients
March 21, 2012 by Christian · Comments Off
It is always a serious decision rebranding a company even when new clients have been few and far between. It’s also a major decision for just a single product or service to be changed due to the resources required to make the necessary changes, but if sales have been slow and there is limited positive engagement with the target market a rebranding might be what the business needs to get new clients walking in the doors. The obvious reason for a company to drop its name, logo, etc. is to cover up some really bad PR or other blunder that has done irreparable damage to the company’s image with the market, but sometimes a new look can be done deliberately to realign with the market and set a new course for the company that results in new clients.
A Name Change
A rebranding can be as simple as a name change and new image in the form of a logo. This is common among software companies that are able to quickly adjust the skin of their product and who will carry several brands at the same time of the same product depending on the market being sold to. A name can be the perfect fit when incorporating, however as businesses grow and take advantage of new opportunities that present themselves a name can start to limit the company. When a business has a very specific name like “Joe’s Baseball Supplies” it can reduce opportunities in selling other sports equipment which the company may have grown into and a simple switch to “Joe’s Sports Supplies” fixes the messaging problem with the company name. If the name of a product is not very easily searchable on Google it’s a good idea to consider rebranding a product or company under a new name that is more search engine friendly.
Research and more research
The goal behind creating a fresh look is to make a pivot in the market that attracts new clients to the company and should be based on heavy market research data and focus groups to ensure the new messaging has the best chance for connecting with the audience. When evaluating a rebrand look at every aspect of the company from the marketing collateral, company logo and name to the way customers interact with the company and how they receive the products / services and are provided customer service. Analyze the competition and talk with key business partners about how changing the image of the company will impact their abilities to support your business in the partnerships you have established.
It’s critical that you understand how each business in your ecosystem will respond to the new look and feel of the company and educate them about the improvements you are making ahead of public release. Continue to conduct research as elements of your rebranding are put together by conducting focus groups with existing customers and the target markets the business is considering expanding into when the transformation of the business is complete.
Plan a kickoff party for the new company brand and invite business partners and important clients to the event. This is a great opportunity to promote a new product or company image to a larger group. Inviting press and releasing information about the new image on the company website and social media platforms should coincide with this kickoff event.
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.
Attract New Clients with Regional Partners
January 20, 2012 by Christian · Comments Off
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.
Find New Clients with Strategic Marketing Plan
January 12, 2012 by Christian · Comments Off
At the start of the year a priority for every business team that has a significant amount of joint venture marketing business should be to review all existing partners and develop strategic marketing plans to find and acquire new clients with there existing partners or identify new partners to replace dead weight. It’s important for business owners to keep track of specific metrics year over year in order to evaluate the business thoroughly to factor any new strengths or weaknesses into annual planning.
Set time aside to meet with all valuable channels in-person and explore new potential opportunities that exist now or will be available soon. Evaluate details about successful business transactions and review the finer details with your business partners in order to identify strategies that can attract similar new clients. Annual strategic planning can be a fun and exciting time as a business owner that is exploring new opportunities for growth as there is little more satisfying than identifying a new opportunity, building the marketing plans, and capturing the market.
Year End Review
As the year wraps up, it’s always a good idea to compile all of the relevant information about the activities of the business so that you’re prepared to analyze the company’s success and plan strategies for finding new clients. The following are a few questions that should always be at the top of the list for all business owners during their review. How is the financial situation of the business? Have employees achieved goals that were set? Were there any major partner successes or failures of the past year? What was the worst and best marketing campaign of the past year? Are there any visible opportunities with existing partners that can close business quickly if pursued?
Larger companies will have more formal quarterly and annual review meetings corresponding to financial reporting activities, however for most small business year end reviews and annual planning activities often are best around December / January time frame.
Partner Strategies
Based on the successes and failures of marketing activities with partners in the previous year, it is important to always focus on areas of strength to increase the number of new clients that can be reached going forward. Working closer with your business channels to identify the right marketing angles that work best to close business fast is necessary for solidifying strategies that work.
Many small businesses get in the habit of sitting back and not getting too involved with a partner. If it’s obvious that one partner is getting more deals closed in a specific region than another partner, identify what is being done and inform the less performing partner and make it mandatory that they adjust the marketing strategy. Otherwise find a new partner that will implement the plan.
Incorporate social media into your strategic marketing planning for the business as an additional way to approach new clients. Many small business owners have avoided using social media sites. If your company is in an industry that’s not a perfect fit for social media like a consumer facing brand or a business like a restaurant, then there’s a good chance that there is a less competition to be found by people interested in your industry.
Take the time to learn about Twitter and making Youtube videos. Start leveraging social media marketing as a cost effective part of your joint venture marketing activities. Working with a partner that is open to doing co-branded social media campaigns is a great way to reach a partners established online community.
New Market Trends
While preparing a strategic marketing plan for your business it is important to include any specific trends in the industry or market in general that impact the success or failure of your business. Continue to evaluate the market and competition to be able to really provide a product or service that meets the customer’s expectations at a competitive price.
Acquiring new clients is never an easy task, so make sure and review successes and failures with all of your joint venture marketing activities and be willing to change when needed. Work with your business partners and continue to evaluate the opportunities that are available to your business. Implementing a fully prepared strategic marketing plan is a great experience and well rewarded so do the research and analysis to find the best marketing approaches to continue growing the 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.
Discover more Joint Venture Marketing Strategies join his free report on Joint Venture Marketing.
Build Local Demographic Reports to Attract New Business
January 6, 2012 by Christian · Comments Off
joint venture marketing
joint venture marketing
If your company is entering a new market with a joint venture partner, maximize the deal by doing your due diligence in building local demographic reports about the business and consumers so that when you attract new business they align with the focus of the company. It’s wise for companies that are selling products and services to a consumer as well as to businesses to know the market in detail and where the products will be offered. This data can be integrated into planning marketing efforts which will be required to reach and close the customers. Focus the joint venture partnership to seek out the most valuable demographics based on your report in order to see immediate returns on a new business relationship.
An important step to understanding a new geographic location is to understand the end customers for your business in the area. Regardless if your business services individuals or companies or a combination of both, the information that is required is similar and easy to acquire. First, ask your new business partner for any relevant business intelligence that they have on the local markets. It’s important to always double check partners work, gather additional details that are important for your decision making, and provide your analysis and ideas to your business partner. Sometimes you may encounter after the fact a business that doesn’t have much detailed information or it is outdated and needs to be done over.
There are many important factors to be gathered when creating a local demographic report. Each company will have to determine the items that are of most value to them and adjust according to the industry.
Basic Details
The basics should include the high level characteristics of the people and the business that are in the area. In the case of consumers, understanding details such as age, gender percentages, education levels, income levels, size of families and monthly spending budgets is very important. Creating a map of businesses located in a territory is essential to visualize the distribution of customers. Create maps of specific neighborhoods when approaching local consumers, as many neighborhoods will be different from one another despite being in the same city and relatively close.
Business reports may differ in the data collected. Identify prominent industries, specific companies by sector, such as transportation, construction, manufacturing, medical, education, etc.
Match With Existing Business Strategy
The purpose of conducting a basic market research study of the local area that you’re considering doing a business deal in to attract new business should be to execute a specific business strategy that includes forming joint venture marketing relationships to grow into new markets. During company planning, the target customer should be discussed on a regular basis. When conducting your assessments of an area, be sure you are confirming “yes” or “no” for the areas of interest to you.
It’s worth the time and resources if necessary to conduct surveys and contact potential customers in a specific area that you are considering doing a business deal for. Don’t always trust a potential partner’s interests in wanting to do a business deal, make sure the area will be a good fit for your products and services by researching yourself.
Business to Business Demographics
If your company does business directly with other business for a majority of the revenue made during the year than it’s important to take a slightly different angle on this task of reviewing new local markets. As a business owner that is negotiating a joint venture partnership with another company, it’s important to conduct your own in depth analysis. Call companies that you think might be potential clients for you and your JV partner in the area and see if they have any opinions about the company, positive or negative. Make sure that you take the time to review a company’s profile on Yelp, the Better Business Bureau, and other business review sites.
Companies with lots of negative issues that seem potentially harmful should be included in your decision making of whether to do the business deal or not. At the end of the day the point is to attract new business, so adjust and align with partners that have maintained strong brands in their local markets.
Review and understand the markets that you are doing business in. It may be necessary to create a binder of all the information on a specific location, but if it helps identify the right joint venture partner that attracts new business it’s worth the effort. Expand your business by doing deals with companies that have strong positions in their local markets that fit your criteria.
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.
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joint venture marketing
Tips for Getting More Clients from Marketing Activities
January 3, 2012 by Christian · Comments Off
joint venture marketing
joint venture marketing
The new year is always a time to review last year’s execution and make plans for growing the business. The following tips and techniques can be used to maximize your existing marketing activities in getting more clients. If you have a product or service that is currently being marketed through your own activities or from your joint venture marketing partner then it’s necessary to close every lead and potential deal that is on the table. To acquire a customer it often takes several different attempts with layered marketing of the company and its offerings. By quickly following through with every marketing activity you can potentially hit a customer in multiple channels.
Blog Posting
A blog post may about a new product or new company information that is posted in order to educate customers and potential customers about the product or company. Blog posts are a great foundation to build on and leverage for improving the companies rankings in the search engines. It’s important to expand the reach of your company blog by using the following actions and services on websites to promote the blog post.
Email – Blast a company message with the title, link, and summary of the blog post to people in your newsletter lists.
Facebook - Post a link to your company’s blog post. These should be posted on both companies Facebook pages if it’s a joint venture.
Twitter - Post a link to your company’s blog post. The co-branded blog posts should be posted on both companies Twitter accounts.
Fiverr - Hire someone to submit blog pages to social sites like Reddit, Digg, StumbleUpon and other locations. Hiring additional people to also promote and engage with the content can help posts gain traction faster in the Search Engines.
While results may not be instantaneous, if you follow the steps above your blog posts will receive more value in search engine rankings for your target keywords from Google due to the links that will be created directing back to your specific blog posts. This will help create more traffic to your company’s main website through promoting your content.
Facebook can be a unique place to advertise for many businesses. However; there are a few strategies that can work for companies and their joint venture partners that are looking to gain access into specific local markets and have a solid presence on the social network.
- Facebook ads can generate interests from a partner’s existing customer base that follow them. Create an advertisement special that customers of a partner can have access to if they post a message in there Facebook status about your brand. Getting more clients from Facebook requires them sharing your company with their friends.
- If you want to build a following of people, then as a company you have to be educational and have interesting content that makes people want to subscribe to your content. Create interesting videos that provide specific details about a topic in 2 – 3 minutes and post them to your Facebook page as well as on Youtube.
- Create an interesting ad that targets very specific demographics. The ad itself needs to be short and sweet and catch the attention of viewers for the target market your business is after. Purchase ads to the exact details of the market that you need to reach whether it’s regional or based on the individuals occupation, age or gender. Facebook allows for creating amazingly detailed ad campaigns. Make the campaign about clicking like to your Facebook page versus redirecting to your website or a sales landing page.
Brochures / Mailers
If part of the marketing activities is sending out a regular printed brochure, catalogue, or promotional newsletters / sale offerings then it is important to maximize each piece of mail, due to the cost of regular mail campaigns.
Email - Sending an email at the same time as a physical mailing is a good way to use the marketing material twice and help reinforce the physical papers that may get shuffled around for a few days before being reviewed. Invite them to a webinar that will be conducted concerning a topic related to the products or services that are being offered in the mailer. Include a form in any emails that can be filled out and sent in requesting more information as some people prefer to communicate through these channels rather than making a call.
Phone Call – Making a follow up phone call 5 – 8 days after sending a letter / package to a perspective client is always a wise idea. If you are conducting a massive mail campaign and neither you nor your business partner has a call center, it’s ok. There are people that can be hired for a fairly affordable rate that can quickly understand your company’s basic information and products to make lead generation calls to provide hot leads to your sales team. Train sales people making follow up phone calls to get email addresses during the conversation as it’s the easiest way to ping potential customers on a regular basis.
Have a great 2012; enjoy growing your business and maximizing all of your existing joint venture marketing activities to get more clients.
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 marketing
joint venture marketing
Find New Clients for a Joint Venture Partner with Classified Ads
December 15, 2011 by Christian · Comments Off
joint venture marketing
joint venture marketing
Finding new clients that can take advantage of an offering from a new joint venture partner can sometimes be a challenge. Posting ads on classifieds sites like Craigslist and BackPage.com can be a successful marketing strategy. It’s always critical to help drive immediate business for a new partner to demonstrate a commitment to the partnership. Classified ads can be an excellent source of new clients to refer over to a partner.
There are specific strategies required to implement in order to have a successful classifieds marketing strategy. Work with a designer to create attractive ads. For certain products and services it’s advisable to create specific landing pages to help educate the market. It’s recommended you create tracking mechanisms to ensure that data can be provided to the partner to show numbers of impressions and sales that result from classified ad campaigns to evaluate whether it is an appropriate channel for marketing the partners’ products and services.
Create a Killer Advertisement and Title
Working with a graphic designer to develop an eye catching ad is the most critical aspect of a classified ad campaign for attracting new clients. It’s always recommended that you use images in the ad, as this will capture the attention of anyone that clicks on the ad. If the person clicking the ad does not become instantly connected through the images then they will most likely continue searching and not even read the words on your advertisement.
A header that captures the reader’s attention and makes them ask a question that is then answered in the bullet points below is a proven strategy to drive click-throughs to learn more from your website. The goal of a classified ad should not be to fully educate the market about the product or service, but get them interested in learning more to lead them to the landing page that has been created. Include in any online advertisement the contact information that’s required to not only learn more information through the web in the form of a link but also a phone number or email address to get in touch directly with a sales representative.
A Landing Page to Sell
Create a landing page that has additional information for the potential new client to read through if they‘re interested in the product. A landing page can be a main website but generally for a joint venture marketing relationship it is best if a special landing page is created so it’s easier to generate analytic reports to provide to a partner, demonstrating the effectiveness of the marketing activities. Aside from core information required to learn about the product or service a contact form should be an important part of any landing page. The leads that are generated from a landing page can then be pursued in several different ways from a sales rep making a phone call to sending additional product brochures or promotions through email or physical mail.
Set a VOIP Phone Number for Each Campaign
Using a VOIP phone service from a company like 8×8 allows a business to set up different phone lines for each marketing campaign so it is easy to track phone calls that come through classified ad campaigns. VOIP phone lines are relatively cheap and it’s easy to associate a specific number for ads that go on Craigslist, Backpages or for any other number of classified sites.
Outsource the Posting of Ads
If the product or service can be sold in many different markets than it can become a very labor intensive job to post hundreds of ads a day that may be required to maximize the partner opportunity. Reach out to overseas labor that can post the ads and corresponding titles to the right categories. It may take a little bit of time to create the right posting team, but after they are in place it can be a long term lead generator for new potential clients.
Experiment with online classified ad campaigns to find new clients for a joint venture partner. This is an excellent way to consistently drive new leads that are actively looking for something new. If the campaign is set up correctly with tracking components built in, it is a great strategy to pursue right away with any new joint venture partners that have a product or service that fits with the categories of online classified sites.
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 marketing
joint venture marketing
Attract New Business With An Amazing One Page Flier
November 18, 2011 by Christian · Comments Off
A single one page flier that is short and sweet with exceptional imagery can help attract new business through a joint venture marketing partner. Gone are the days of needing to have a detailed tri-fold brochure or complex marketing packet / folder in order to deliver the information customers require to make a buy decision. People are inundated with marketing from many different mediums and so often a business is required to capture a potential customer’s attention in seconds and one effective method that’s proven to attract new business is a well thought out sales brochure that is a single page that is heavy with images versus blocks of text. If a business can capture a person’s interest with a simple brochure then a website can be used to provide more in depth detail and answer additional questions that may exist. If a large portion of a joint venture marketing activities occur in person through sales reps or customer service representatives than it is essential to arm them with the capability to deliver the sales pitch in a single sheet of paper. The following are items to be concerned with when developing a sexy brochure.
Images
Deciding what images to use and the number of images on a flier are essential to creating a great marketing brochure. A good flier should have around 3 images at the most. A company logo is essential. When working with a joint venture partner there logo should also be present if they will be handing out the flier to their existing customer base. This helps reinforce their support of the partner company and validates the partnership. If a company is interested in being a joint venture partner, but hesitant about co-branding marketing collateral this is a red flag concerning the company’s commitment to the partnership and should be cause for concern about moving forward with the relationship. This should be discussed in the early developments of setting up the relationship. The next important image on a flier should be something eye catching and resonate with the customer base. For example, if marketing a moving company the image should reflect a happy family with smiling faces as that is the experience that needs to be sold to the customer base since everyone knows moving can be stressful. Lastly some fliers can benefit from an infographic. An infographic is an image that utilizes an image or several small graphics and very limited words to deliver a lot of information. This can be used to showcase features of a product.
Text
The biggest failure most small businesses make when developing a marketing flier is using way too much text. Utilize bullet points with three to four word blurbs that get right to the point. Identify a problem, address the solution as the product or service being sold and direct customers to how they can gain additional information whether it’s a website or a direct phone number. It’s important to not get in the habit of writing blocks of text. Even a couple of full sentences can be too much text on a marketing flier. The best fliers say very little, but deliver the message that a product or service is the best solution and can deliver results. When seeking to attract new business from a joint venture partner that will be capable of handing out a marketing flier there will more than likely be a conversation with the potential customer from a sales representative or someone with additional information about the product or service. The one page flier helps reinforce the opportunity when the potential customer has gone back to their office. Sometimes a flier will be tucked away for weeks, but when needed, can be found or is just stumbled upon later and helps trigger the conversation with the sales rep and encourage a phone call or additional online research.
It’s important to use a flier for the purpose it is designed for, to help reinforce important ideas about a product or service and help direct new business to more information about how to contact the company to buy the product or service. It does not need to answer every question nor does it need to provide in depth company information. Make a short and sweet one page flier with great images and your joint venture marketing partners will have an easier job in attracting new 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.
Discover more Joint Venture Marketing Strategies join his free report on Joint Venture Marketing.
How Joint Venture Marketing Attracts More Clients
October 17, 2011 by Christian · Comments Off
Joint venture marketing attracts more clients for businesses because the core this type of marketing is to establish channels to customers. These marketing channels are effective because companies have special relationships with their customer base. Developing a high quality relationship with a business that has a loyal following of customers that trust the recommendations they receive from the business is the best way to attract more clients. These businesses have developed a level of trust that can really provide a company looking to penetrate new markets a quick entry point to gaining brand awareness and at the same time potentially receive additional marketing and sales support to close business opportunities that arise from the joint venture.
Reach Established Customer Relationships
The best way to attract more clients is to reach them through personal introductions from joint venture marketing partners. This can come in several different formats. Sometimes a partner will have an active sales force, an on-site maintenance team or company representative that interacts with the businesses customers and can provide information about the partners’ products and services. Depending upon what the products and services covered in a joint venture agreement are, any one that interacts on some level with a customer could be a potential marketing channel. Determining the best level of introduction should be clearly defined in the partnership agreement.
Sell Through Trusted Relationships
There are many consumer focused businesses that have opportunities to sell additional products to their clients due to the trust and respect that the clients has for their opinion. A common example of a trusted relationship product recommendation is a dentist recommending a specific type of electronic toothbrush like a Sonicare. It’s hard to ignore the advice if a person is confident that the dentist is looking out for their health regardless of the referral fee they may be receiving for recommending that product over another. In business to business transactions when making a recommendation for a new product or service a person’s job could potentially be on the line. It is always far easier for an employee to say “no” to trying something new and sticking with the status quo when making a buying decision for business use. If the goal of a joint venture is to attract more clients, then having trusted relationships that can provide the confidence needed to reassure customers that they are in good hands is critical with business to business focused joint ventures.
Expand Brand Awareness
Joint venture marketing attracts more clients due to the increase in brand awareness among the target demographics that are being pursued. If the proper research was done prior to reaching out to potential partners as the deals are being done the business is instantly improving its prospects of attracting the right clients. Each time a new joint venture is put into place there are several activities that help to expand the new partners brand awareness with the other companies existing customer relationships. A mention on the website through a press release or blog post is a good way to begin announcing the relationship to attract more clients. An email newsletter or personal introduction from the individual that has a trusted relationship with the clients should also be a part of any early stage of implementing a new JV marketing campaign.
Increase in Marketing Capabilities
The increase in marketing capabilities joint ventures provide can be critical in helping a business grow. Developing a new sales pipeline through JV partners and structuring the communication properly so the best suited person is talking with the customers and closing the deals will ensure that the clients that are attracted will be closed and become long term customers. Take advantage of any marketing opportunities or recommendations from partners on how to best market to their existing customers to attract more clients. Leverage all offers of marketing support to keep marketing costs under control in order to maximize each joint venture return on investment.
It’s important to attract more clients from a joint venture by marketing the opportunities to the new potential customers through the correct means to build their confidence through building strong brand awareness and building from a trusted relationship. Have a well-planned process for customer engagements and proper methods for educating existing customers about the joint venture activities.
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
September 30, 2011 by Christian · Comments Off
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.
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