A joint venture is creating a partnership with someone else where it’s a beneficial atmosphere for all parties in the JV. Big businesses do it all the time. They reap visibility and money making opportunities because they understand that a JV is a way to get a bigger slice of the marketing pie. It’s a slice you can’t afford not to go after yourself. One of the smartest marketing strategies you can put into play is have a joint venture with a marketer whose word carries a lot of weight online.
But from a profit standpoint, it doesn’t look like the more influential marketers need to align themselves with you. You might feel intimidated or like there’s some “good old boys” club that you couldn’t possibly break into. Or maybe you feel like if you don’t have a comparable sized list, they wouldn’t even consider you. But that’s not always true.
If you’re confident that you have a solid product, then you want to seek out a marketer to JV with who has an existing customer base who would be the perfect fit for your product. The size of the list doesn’t matter if the product isn’t a fit – it wouldn’t convert either way.
Don’t reach out to them by using a form letter. That’s asking for a rejection. It says, “You weren’t important enough for me to treat it as unique.” Your contact with them is either going to sell them on the idea (and make them interested in hearing more) or it’s going to make them to turn you down flat. So you want your contact with them to be your best first impression.
You want to write a personalized (yet short) letter and give them good reasons why they should JV with you – an offer they can’t refuse. You would do this by explaining your product – how it works, what it’s done for you and who your target audience is – pointing out that it’s the same as those on their list.
Then you explain how a JV with you would work hand in glove with their niche to benefit them as well. You want to mention not only the possibility of increased revenue, but also how you can dominate the niche by joining forces.
To make it an enticing offer, you would have to give a little more on your end than maybe you’d normally give affiliates. For example – you could up the commission to sweeten the pot or give their list something no other affiliates are allowed to give out for free.
Where are you going to find that influential niche marketer? The same place you hang out online – in your business forums, through online networking opportunities, at seminars, etc.
You might never have approached someone before about the possibility of a JV and the thought might make you a little unsure of yourself, but keep in mind that every marketer was once where you were and just go for it.