| |
| |
|
Internet Marketing Information |
|
|
|
Forming Profitable Joint Ventures
You won't be involved in Internet marketing long before you see the term "Joint Venture." Perhaps you are familiar with the term from its application in the business world but don't see how it would apply to Internet marketing. Actually, it is one of the most exciting ways to generate targeted web traffic that you will find. For purposes of definition, you could say that a joint venture is an operation involving two or more Internet marketers, each contributing unique resources for their mutual benefit. That may sound a little stuffy, so look at it this way. Say you and your neighbor both need to plant trees in your respective backyards. He only has a wheelbarrow and you only have a shovel. Neither of you can do the job effectively by yourself, but together you can accomplish the job for both of you. That's a joint venture (backyard variety!). Similarly, in Internet marketing, each of you contributes something that the other lacks, so that you both benefit by gaining more sales, site visitors and subscribers. In the majority of cases, this involves a product and a list. You may have created an explosive eBook (like this one!) but since you have been in marketing only a short time you don't have a very big list of people that might be interested in your eBook. But you have a friend who is also marketing online, and he has an opt-in list of 5000 subscribers that have already expressed interest in the topic of your eBook. In a simple joint venture, he emails his list about your eBook and keeps a commission on any sales. You make a percentage on every sale and get a large number of targeted traffic to your site. The traffic may turn out in the long term to be more valuable than your immediate eBook sales. That's because, if you have an attractive site set up to entice visitors to leave their email address, a good portion of your friend's list becomes your list! Joint ventures often are more complex than the simple one described above. You will see many joint ventures involving several marketers, perhaps a dozen or more. Sometimes a product isn't even sold - the main purpose is to get traffic to the web sites of the marketers and build their opt-in lists. In this kind of joint venture, each marketer contributes some product they sell or own. Then the JV may proceed any number of ways. The marketer (or marketers) with the list(s) may set up a contest, where the winner or winners gets all the products. Another way is to offer the participants the choice of one or more of the products if they visit all the web sites involved and sign up for all the opt-in lists of the marketers. You could also do ad or article swaps (assuming you and your JV partner both have an ezine or newsletter). You could offer an eBook you have written to another marketer to be given away on his or her site. You have your name and affiliate links inside, and may give the eBook both more value and a viral quality by allowing the recipient to change some of the links to their own so they will want to pass it on. Your JV partner, in turn, has something of value to offer to his or her site visitors or subscribers. These are just a few possibilities; the options are limited only by your imagination. To summarize, here are some general types of JVs for you to think about. Cross promotion - promote each other's product or service, such as ezine ads in each other's ezine. Co-development - work together with another marketer to create a product such as a book, which you both can sell. Product endorsement - pay a percentage of profits to your partner who endorses your product to his list. Cooperative list building - similar to cross promotion, but concentrates on building the opt-in lists of each. Regardless of the details, all the participants get a large number of visitors to their sites and the opportunity for their op-in lists to grow dramatically. Are you ready to start a joint venture? There are several things to consider before you rush into your first JV. First you need to select the right JV partner. A wrong choice can spell disaster for your project. It's best to start with people and businesses you already know and trust. If you have already decided all the parameters of your joint venture, it will be easier to choose the partner - it is someone that can complement what you already have. Using a simple example, if you have the hot eBook, you need a partner who has a list, not another hot eBook. But if you have bigger plans for your first JV, you may want to partner with another eBook owner and together seek out additional JV partners with complementary resources. To help you get ideas and pick up additional JV partners, talk to your marketing friends about your JV idea and see what suggestions they might have. If you can't find the JV partner you need from among your friends or business acquaintances, you may need to seek them out other ways. If you subscribe to several ezines (and you should!), their publishers may be good candidates since you presumably are subscribing to ezines that target your area of interest. If you don't know of any good ezines that target your market, look at http://www.directoryofezines.com/. What about the details of your JV? That will vary greatly depending on the type of venture you have in mind, but here are some general guidelines. If you will be offering a commission on sales, be aware that the average is about 50%. This may seem high, but, to restate the old adage, would you rather have 50% of the profit from 100 sales or 100% of none? You are unlikely to attract any serious JV partners if you are only offering a commission of 15 or 20%. Also, you are unlikely to attract many quality JV partners if their commission is less than $25-30. So a $10 eBook simply isn't a good JV attraction. And when you talk to someone about a JV, if you will be proposing to provide a product, offer it free so they can properly evaluate it - don't expect them to pay for it. When you get ready to contact site or ezine owners you don't know, you need to create a good JV proposal letter. Remember they are busy just like you and won't read a long letter, so keep it short. Since the recipient probably regularly receives JV offers, you need to make yours stand out. Following is a sample JV proposal you can learn from. It will of course need to be modified to fit the details of your proposed JV. In addition to an email (or instead of one), try faxing a copy to your potential partner; it is more likely to get their attention. Dear ________, My name is ______ and I visited your web site at http://www.________.com today and was extremely impressed with the quality and content of your Internet marketing articles. The article on _________________ was especially helpful to me. I run the _______________ site at http://www._____________.com and would like to offer you a free copy of my package. I would also like to discuss the possibility of a joint venture between our companies which could significantly increase the profits from your web site. Please call me at ____________ or email me at __________________ at your earliest convenience. Thank you, ____________ ________@___________.com http://www.___________.com Darryl DeLong is an established Internet Marketer and Ezine Publisher. Learn how to build up your opt-in list, increase site visitors and sales with my brand new ebook entitled "Viral Internet Marketing Strategies" get a free copy here: http://www.viral-internet-marketing.com
MORE RESOURCES:
Internet-Marketing - Google News |
|
|
|
RELATED ARTICLES
Joint Ventures: Five Powerful Tips for Building JV Relationships One of the best and fastest ways to build your business and maximize your profits is to develop joint venture partnerships. Here a five powerful tips that will greatly enhance your ability to build strong, lasting, and mutually beneficial JV relationships. The 3 Big Points to Selling Successfully on the Web Building a home internet business on the web can seem at times like an impossible goal for most people getting started because they are either not sure of what products they should sell, or how to build their internet business website so its effective enough to get the right targeted traffic to sell their products.If your new to the concept of starting a home business, I implore you not to waste time or your marketing budget until you have the tools and knowledge for creating a profitable internet business. Celebrating A Decade Of Online Marketing Yes, it has been ten successful years of online marketing in the E-world. Many small companies have made it real big in this online world, by applying different marketing strategies and techniques. Use Photos as Part of your Marketing Arsenal Photos should be important parts of your marketing. The photos are useful- to document your offers- to achieve positive acceptance of what you are displaying- to function as eye catchers- to bring the buyers in a general positive mood- to create identification with the use of your product. How to Make Money from People Who Type the Wrong Web Address How many people visit your web site but type in the wrong address? You'd be surprised! What happens to them if they try to reach a page you've deleted? In either event, they'll get what is known as a '404 error'. This means you have lost sales - and confidence in your web site, which means they'll never revisit. 20 Amazing Ways To Jump Start Your Sales 1. Find a strategic business partner. Getting Some Good Ol Internet Real Estate Real estate has made many people large amounts of money in the offline world, no doubt. But is there a way we can utilize the same concepts from the offline world and bring them online?Good question. 10 Things You Should Try To Barter For Before Buying 1. Information Products - it could be ebooks, "how to" videos, cassettes, magazines, newsletters, paid e-zines, courses, etc. Online Sales: How To Use Customer Feedbacks To Generate More Sales Communication is the engine that powers business.It is an important online sales skill that you must polish until it shines like the sun. X-Ray Specs, Turning 30 and Achieving Website Success I was writing the final chapter of my book on website marketing a few weeks ago and was wondering how far I'd progressed with it so I ran a word count. 44559 words. How I Submitted My Internet Marketing Articles To Only 20 Sites But Shortly 16,000 Sites Posted Them There is no internet marketing chore that I enjoy more than doing a regular google search to check the viral effect and progress of my online marketing articles. Within a recent short period I saw the number of websites where my articles are listed grow by a staggering 16,000. What Rich Internet Marketers Know That You Dont Thirty years ago, I sold information via small classified ads in "ad-sheets" on how to make money teaching others how to make money. We sent out these packets of flyers called "Big Mails. Internet Marketing is Changing Right Before Your Eyes! There's no doubt about it . . Ten Ways to Sell to Your Customers Again and Again OK, so you're making some sales, either of your own products, or through affiliate sales. What you may not know is that you've got a virtual gold mine in your possession, and all you have to do is follow a few simple steps to turn these one-time sales into lifetime customers, and to potentially create more and more customers simultaneously. The Five Golden Keys To Massive Passive Income You can earn a large monthly passive income with a minimum knowledge of the Internet, sales or marketing. In fact, you don't even have to have a website to be successful. Solution Catalog - Getting More Out Of Your Searches The Fast And Easy Way Are you Tired of being Burned by your Internet solutions? Take advantage of a solution catalog with a difference, where your needs are thoroughly researched before they are presented, thereby providing you with trusted results.Permit me to share some beneficial experiences with you if you have the time. Do Your Words Need Protection? Recently, attending a local event, I found myself chatting with a young woman I'll call Pearl. When she learned I was a writer she asked, "I wrote some poems when I was younger and I would like to copyright them. Local Search Makes Your Business a Big Fish in Your Local Community The Internet Contains Billions of Website Pages - All Clamoring for AttentionWith so many competing websites, it's unlikely that yours could stand out among them. Until recently, you faced near-impossible odds. Visibility Equates to Higher Profits One of the greatest challenges businesses face is how to market cost effectively while gaining a good return on investment (ROI). Regardless of what industry you are in, the size of your organization and how long you have been in business, you must continually look for ways to gain and maintain your visibility to your market. How To Cheaply and Powerfully Reposition Yourself On the Web It goes without saying that all of us would like better response and conversion numbers from our websites. This is an ongoing dilemma which, unfortunately for many of us, remains a dilemma.
|
| home | site map |
| © 2006 |
