You don’t even need a list of your own. Instead you contact other people who have a list, and convince them to mail for you to their list. Split the profits 50/50. Everybody wins. And the conversion rate is EVEN HIGHER than regular visitors since they have a relationship with the list owner.
So you prepare a list of the top list owners in your industry. And you put together what you think is an excellent contact email. You send it out to all of them…and nothing happens.
Nobody even emails you back. Silence. All you hear is the sound of the crickets.
At this point, many people give up and say joint ventures are only for those with connections already. Or maybe it’s only for people who meet the experts at conventions. Maybe it’s all rigged.
The reality is that getting a response from a joint venture is the BEST TEST of your offer there is. It’s a test of your ability to cut through the noise and grab attention.
That future jv partner you want likely has hundreds of people emailing him/her. Your letter has to grab attention at the bottom of that pile. It has to then turn the attention into interest and desire. And then get them to take the action of emailing you or calling you back.
It’s sales 101. Here are a few of the most common mistakes I see from joint venture letters…and what you can do about them
#1 – Not personalized.
I’m not saying just put their name on it. Instead make it so it’s only possible to have sent it to one person. Comment on a recent article on their website. Compliment them on a product they have. Tell them how much they inspired you in a speech they gave.
Maybe look to see if they’ve published their goals and ask them if you could help them reach one of the goals they’ve listed. In other words, start off with their favorite subject…them!
#2 – The offer isn’t unique.
What is your product’s advantage? What makes it unique in the marketplace? And along the same lines, why is it a good match for their audience?
I originally wrote the above as “the product isn’t unique” but that isn’t accurate. Sometimes you can make a unique offer even if the product is similar to other peoples. Perhaps you have a better trial, you package it in a totally different way, insane guarantee, overwhelming proof, or another element that makes the offer stands out even when the product itself isn’t that unique.
#3 – No proof of your claims.
Can you prove your claims? Here are some examples. Maybe you have a few golden testimonials from well-known names. Have you partnered already or have a commitment from a well-known expert? Maybe one of the bonuses is an interview with an expert (yes, we’re trying to do some name dropping here).
You could have numbers to back up the jv. You’ve run another recent joint venture recently and it produced $2.75 per visitor. Or maybe even your own paid advertising is producing an 11% conversion.
I personally get a kick out of the emails which tell me I’ll earn an extra ten thousand by promoting something…with zero proof, zero stats, and zero evidence to back up those claims. Don’t make income projections. Give real numbers of what it has done so far instead IF you have them.
#4 – It’s not stupid simple.
The rule for joint ventures is you do it all for them. You provide them with the emails. You provide them with pre-written reviews. You provide them with a sales system that works.
You give them free reports they can give away, and you even brand the reports for them. Remember if you’re initiating the contact you’re going after influencers…the ones who can drive sales to your website. Do whatever is necessary to get it done from your end.
#5 – Using email only.
Move away from the Internet. Send them a letter, pick up the phone, or even meet them in person at a conference. Everyone simply contacts by email. Try contacting them through a direct message on social media (Facebook, Twitter, or Linkedin). Get them away from the most common contact form.
Use a dollar bill letter. This is where you send a direct mail letter and attach a dollar to the top of it. It essentially becomes the headline to grab their attention. Then you start the letter off that the reason you used a dollar is because what you have to share has to do with money, and can produce a lot more of these for them.
Of course you could use many other grabbers as well, but this is a simple one where you likely have a few dollar bills laying around to use.
If you’d like 45 additional joint venture strategies, check out this month’s Monthly Mentor Club. It’s jam packed with joint venture strategies and ideas you can use to build your business faster online.
Ever notice how internet gurus talk about all the different traffic methods…but when push comes to shove they always promote their own products primarily by joint ventures? This month’s issue shows how you too can tap into OTHER PEOPLE’S traffic, money, and experience through joint ventures.