The old cliche about two heads being better than one gets
added respect when it comes to internet marketing. There
are many advantages to teaming up with another marketer
that has a product or service similar to your own by which
you can combine your efforts to increase your mutual
businesses.
It is a good way to help build a mailing list of potential
customers as well as expand the number of opt-in contacts
for future marketing. A 2005 consumer marketing report
showed that statistically around 25% of all marketing is
done jointly between related companies.
An example of joint venture marketing would be for a
software company to team up with a computer manufacturer to
advertise a special deal on computers that include said
software or vice versa.
The end result is that the customer gets both a good
computer and a good software program already on it for a
special price and both companies would have another
customer to contact with future offers. Joint venture
marketing has been described as a win-win-win situation.
There are variations on this theme. One company which is
already well known may be convinced to merely provide an
endorsement for the new product you have for a cut of the
profits and contacts.
They may provide their own mailing list for a joint venture
with you for such compensation. While some joint venture
deals may not always make you a fortune, they do help set
up the potential for greater income in the future.
When comparing the advantages of joint venture marketing
against the possible disadvantages it is easy to see why so
many people utilize this trend. Together you can share the
expenditure of time and money on the advertisement creation
and distribution.
You can use the venture to increase your market base and
find new ways to direct your business focus. You can learn
from each other. Even successful businesses can profit from
the ideas of new people to the field.
At the worst you have wasted some time and a bit of money
on the venture, but shared loss will also protect you from
being totally bankrupted by a failed venture.
Loss of reputation by partnering with someone who proves a
bad business practice can also set you back. It is
advisable to study a company and its practices before
proposing a joint venture with them.
Joint venture undertakings can be one-off events to help
solidify one's place in the market and if successful can
then be expanded and made more permanent if it is to the
mutual advantage of both parties.
Joint venture marketing should not be confused with
strategic alliances. These types of mergers are more along
the order of creating one company from two, whereas the
joint venture partners are still separate corporate
entities.
Make sure you have a product or service worthy to partner
with other successful people and you can use joint venture
endeavors to create additional income streams that are
profitable for everyone involved.
----------------------------------------------------
Gunjan Tiwari is making part-time healthy living online!
Gunjan's Free "NO BS, 6 Part E-course" is jam packed with
tips and techniques on how you can create a non-stop cash
flow online in less than 2 hours a day. Get an insight on
how to REALLY make your living online for FREE at ==>
http://www.ebizfaststart.com/intro.html
No comments:
Post a Comment