8 Joint Venture Methods to Boost Your Profits

joint venture methodsAnyone with a decent sized list gets the all too frequent email, “Hey, you want to promote my product?”

That email is so common, and so overused that it’s one of the toughest ways to get a joint venture relationship today.

You send out a dozen emails…and you hear the sounds of crickets.   Nothing.  No response.  Not even a big fat NO.

Here’s an even funnier one.  I regularly get people who send me emails wanting to partner up on their new project.  That’s right.  They want me to become their business partner and we’ve never even spoken before.

That’s kind of like asking someone to get married before your first date!

You’ll have a much better chance of success if you enter the relationship slowly.  Start off with another form of contact or another marketing strategy.  Below are 8 joint venture methods you can use over the long-term (and this is just a small list of all the possibilities).

#1 – Free Content Sharing

You write a guest blog post for someone, an article, or a video they can use.  You give great value that makes them want to share it with their audience.  Perhaps you even work in an affiliate commission for any referrals that come through their link.

Or maybe you take it even further.  You produce 2 hours of videos they can freely use in their membership site for no charge.  Of course you’re giving links back to your site in exchange for this.  They get content, and you get in touch with paying customers.

#2 – List Exchange Mailing

You mail to promote their freebie and they mail their list to promote yours.  Each of you adds new subscribers to your list for free. 

Once you have built up a list of several hundred (or even better a few thousand), you can use this type of JV to start growing even faster.  The key is to only work with others with the same niche of subscribers.

#3 – Affiliate Promotion

You likely already understand basic affiliate programs.  You promote and get paid based off of sales or even leads in some cases.  This is a form of very common joint ventures.

#4 – Exclusive Joint Venture Offer

This goes further than a basic affiliate program.  You put together a special page and deal for the promoter’s clients.  You add an extra bonus or you give them an extra 20% off for a limited time (such as 48 to 72 hours). 

The goal here is to produce the best return possible during the promotion BECAUSE of the special offer.  Always think of a way to make it special for their clients in some way when dealing with a large potential promoter.

#5 – Co-Op Advertising

You could partner with another related business to advertise together.  For example I put together co-op list building campaigns.  Traffic was driven through banners to a page where people could checkmark and optin to up to 6 lists of their choice.  And the other 5 people were paying for this advertising (for doing the work and managing it my share was free).

Another time I participated in an article about the top 5 newsletters on the topic.   All 5 of the publishers agreed to promote and run the article together…adding 1,500 subscribers to my list in about a week. 

#6 – Sponsorship

If you’re building up a blog, you could find a few sponsors (IF you already have traffic), and use the money from the sponsors to pay an outsourced worker to write the posts for it.  The labor is paid for by the advertiser while you build the business.

You’ll see how common this is in the seminar industry.  Sponsors pay for part of the event to setup their booth and promote to the attendees.  How long it will be before we start seeing the same taking place on webinars?

#7 – Product Creation

This can be as simple as doing an interview with an expert to create a product to co-producing a book together.  For writing a book together, plan the outline out and each write out your sections. 

 Bring in multiple different experts to create a full course.  I find this process so much easier than developing a product on your own (plus you get exposure to their audience as well).

Most of the time with these deals we each go our separate ways and can sell the product as much as we want.  So each person keeps 100% of the money from their own sales and they can each put it into the affiliate programs.

#8 – Forms of Business Partnership

This gets serious.    You could even build a separate corporation as partners in this upcoming venture (and should do so if the risks are high).  Make sure to write down everything even if it’s not a full contract.  What is each person responsible for, how do the payouts work, etc.

If it’s not discussed and written, it will become a problem at some point at this level.  There are simply too many moving parts in a business to leave them to chance.

Tap Into Other People’s Traffic, Knowledge, and Skills

We talk a lot about outsourcing today, but sometimes the best way to get something done is working with team members who also profit from the success.

And some of my favorite products are ones that were created as a team.  For example in the A-to-Z Internet Blueprints product, each of us presented while the others there took the role of advocate for the listeners.  We were asking the questions we know needed to be asked to help you reach your goals.

Find out more about this here: http://www.thetruthprints.com

How can you implement something similar to pull out your associate’s best information?

Similar Posts:

About The Author

Terry Dean

Terry Dean has been in full-time internet business since 1996 and has helped thousands of entrepreneurs get started online through his articles and products. He lives in Ocala, Florida with his wife and 2 dogs. Find out more about how the Monthly Mentor Club can help you today.