Making money online could not be easier than with joint venture marketing. Some principles have to be followed to be successful and extract maximum profits from it. Quite simply, having a partner or other marketer promote your product while you promote theirs is the whole basis of a joint venture. You promote their product to your market users and clients and in return your partner will do the same with your product to their users. Whatever profits are made in this joint venture effort are split accordingly.
As success comes in numbers, it is probably best to seek out a good four or five joint venture partners. Lookout for the people from the same industry who sell products like yours but make sure it is not the exact same as you may have to suffer a huge market loss in such a case.
While sending your proposal make sure that it covers all the essential points and highlights the benefits to ensure that a marketer will want to make such a partnership with you.
Make your statement clear telling them you have everything ready to go, that is your proposal is ready and you can provide them with all the marketing materials they will need to make it as easy as possible to become your joint venture partner. If you have arranged for a pre-written ad to be used for your banners, reviews, or emails, it’ll add an extra appeal to your proposal.
Pace the number of joint venture partners you send out in the field so as not to make your customers overwhelmed.
If you want to make money as a joint venture “broker”, that is setting up deals between two or more business and taking a cut of the profits for your efforts then there are some guidelines you need to keep in mind if you want to make money fast with as little competition and hassle as possible.
Firstly if you are trying your hand at joint venture broking, then you should resist the urge to do it with purely online business though most of the people follow the online market. The reason? Simple because you may have to face a “huge” market competition and being a new broker you wont be able to make a mark among those big fishes. And the more competition you have, the less are the chances of getting good deals. This doesn’t mean you wont find any but it will be harder to make your space.
So instead try something which will surely benefit you, like Setting up Joint ventures with businesses in your hometown first whether online or not. It’ll give you an extra edge and you’ll be confident about going on with your project.
Infact, you’ll notice that a large percentage of those in your yellow pages would have not heard about joint ventures and you’ll find pretty good proportion that would be interested in your ideas if the proposal is submitted with complete research.
Another reason for choosing a local business is the “security factor”. It’s harder for people to cheat you, if you know their complete background and area of working.