7 Reasons You Should Joint Venture
Bringing massive targeted traffic to your site is the big benefit of Joint Ventures, but JV’s actually do seven major things for your business.
One, a JV can jumpstart your business.
If you are just getting started, a joint venture can dramatically shorten your learning curve. You’ll learn much more much faster by partnering with an experienced marketing expert.
So if you are just getting going or even if you have been in business for a while without really getting anywhere, the smartest thing you can do is find a JV partner and tap into the power of leverage. It is the fastest and most reliable way to grow your business.
Two, a JV enhances your credibility.
Building trust with your market takes time. Until that trust is established, you’re going to struggle to sell enough products to stay in business. But aligning yourself with someone who has already gained the trust of your target market automatically transfers that trust to you.
Having a reputable partner endorse your products makes his subscribers and customers believe you are reputable as well. You then have a reputation as a trusted expert even if you are just getting going in your business.
Three, a JV allows you to reach a wide audience in a short amount of time with little effort.
If a company who sells something similar to you has already invested marketing dollars in attracting customers, why not take advantage of that?
The people they are reaching may not know to where to look for you or realize how your product can benefit them. Or they may never try your product unless introduced to you by someone they know, like and trust.
By leveraging your partner’s traffic and existing list, you could potentially see hundreds of new visitors to your site within minutes of launching your joint venture. And you didn’t have to do anything except ask your JV partner to introduce you to his customer base.
Four, a JV is cost-effective.
The best JV deals cost you nothing; they only make you money. When set up properly, neither you nor your JV partner can lose because you both make money when you make a sale.
They promote you and earn a percentage of the profits for each sale. Then you promote them and earn a percentage of the profits from their sale. You’re both advertising only to your own customer base through email, so the marketing costs are zero. If you make no sales, you lose nothing.
Five, you benefit from higher conversion rates.
With JV traffic, you’re selling to warm prospects or paying customers who have already proven their value by buying products in your niche. If they’ve bought something similar that your partner is selling, they’ll probably buy more of the same.
Plus a trusted friend is introducing them to you. The endorsement alone should result in high conversion rates.
Six, you build competitor barriers.
A great way to destroy your competition is to join with them. Building key strategic alliances can allow you and your once tough competitors to maintain high profit margins and keep others in your niche from reaching your customers.
Strong relationships between a strong band of companies and their customers are difficult to unravel by the competition.
And seven, you can offer your customers more products.
If you don’t have many products to sell or don’t have the time to develop new products, a JV gives you the opportunity to still bring quality products to your customers.
Your customers are happy because you’re providing excellent value for them, so they stay with you and keep buying the things you promote.
Plus they are more likely to respond to your offers if they see you’re not just promoting your stuff but other people’s as well. When they believe you’re going out of your way to deliver value—even if that means promoting someone else—they feel obligated to reward you for your effort through purchasing products.
An extra bonus that accompanies Joint Ventures is the networking power you get among your business peers.
When they see you are willing to do business with others, your competition will start coming to you to work JV deals with them. The relationships you develop as a result can mean great things for your business.
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