Have you ever wondered how the REALLY big money is being
made online? Not just good money like hundreds or even a
couple of thousands of pounds/dollars a month. Big money.
£5,000, £10,000, £20,000 or more a month.
The biggest secret to these results is Joint Ventures.
A Joint Venture (or "JV") is simply joining efforts with
another business to sell your product or service.
Obviously the other partner needs to benefit well from this
arrangement. Usually the benefit to them is a percentage of
the sales that they generate for you.
>> Good JV Partners - Where The Money Is <<
You can assure yourself of finding a great joint venture
partner by focusing on a few key things:
A good JV partner has similar products or services to
yours, without being threatened by any direct competition
from you.
They have a lot of potential customers for you. This means
either a very high traffic web site or a large newsletter
subscriber list.
A very credible JV partner is extremely powerful. A good
endorsement by them is very likely to give you strong sales.
>> How Successful Deals Are Formed <<
Like anything else in this world, cooperation boils down to
"what's in it for me?".
To be successful, make sure you do the following for any JV
partners:
Give them a quality product that they are happy to represent
Give them a copy of the product to evaluate without them
having to ask for it. (You want to eliminate any additional
steps to get them on board. Make it so they can say from
the beginning "Ok, looks great. Let's do it now")
Offer a strong financial reason to do the JV with you. (It
is not uncommon to offer 50% or more of sales to strong JV
partners. Some people may question 50% as too high. Would
you rather have 50% of a lot of orders or 100% of no
orders?).
Don't bother them unless your site is turning a good
percentage of visitors into buyers. A site with a 1.5%+
conversion rate would be sufficient. Much lower than that
and they probably won't be happy with the performance of
your site. The exception would be if you had an expensive
item with a high commission.
Give them the statistics for how well your product is
selling. If you have a 2% conversion to sales rate, let
them know. This helps them quickly do the math to see if
its worth it for them. If they send 10,000 newsletter
subscribers your way, they could expect approximately 200
sales.
Make things as easy as possible for them. For example:
* If they need to set up an affiliate account, do it for
them if possible.
* Offer the tools and information that they need to
implement the joint venture as easily as possible.
* Give them example text that they can use to sell your
product if they wish to use it.
I'll discuss specific strategies on how to get joint
ventures going in a future article. - I'm working on two
possible JV partners myself... or hope to during the next 6
weeks anyway... (this is another reaosn for attending
seminars, in my mind the 'networking' at these events is
worth way more than the ticket price to attend)
Don't underestimate the power of Joint Ventures!
By approaching strong partners in a manner which benefits
both of you well, you can earn some excellent money
together.
----------------------------------------------------
Nick James is a UK based direct marketer and product
developer. During the last 5 years Nick has sold in excess
of £1.6 Million Pounds worth of products and sevices
online. Subscribe to his Free Tip Of The Week email at:
http://www.Nick-James.com
No comments:
Post a Comment