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

---

The New Marketing Landscape

Many of us in the marketing services and/or agency business... Read More

10 Ways to Exceed Your Clients Expectations Every Time!

The following tips are just a few of the things... Read More

The Most Valuable Asset in Marketing - Do YOU have It?

The single most important attribute for a successful Network Marketer... Read More

Getting Some Good Ol Internet Real Estate

Real estate has made many people large amounts of money... Read More

Creating Multiple Streams Of Income Part 1

One day I was talking to a friend who had... Read More

The Numbers Dont Lie!

It's true. They don't.That's why you should look at the... Read More

3 Steps To Online Marketing Competence!

Whoever said knowledge is power, was wrong.Way too many people... Read More

You are Being Lied About Reciprocal Links!

Exchanging links has been an important part of generating traffic... Read More

How A Change in Perspective Can Help You Make More Holiday Season Sales: Pt. One

Some sites are perfect for the Christmas season - their... Read More

How To Use Database Marketing To Skyrocket Your Online Profits

Database Marketing is the gathering and storing of specific information... Read More

Internet Marketing Requires Persistence

Marketing your company online requires patience and persistence. Like every... Read More

Five Steps To Successful Web Marketing And Sales Process!

The basic principles used successfully by brick and mortar storefronts... Read More

Strategic Internet Marketing Using Joint Ventures

The goal of most webmasters is driving more traffic to... Read More

Marketing Automation For Small Businesses And Web Entrepreneurs

Many Internet marketers wonder how they spend less time marketing... Read More

Online Sales : 10 High Decibel Tricks To Magnify Your Sales

Online sales is like a fine art and you have... Read More

Beneath the Surface of Internet Marketing

To most people Internet Marketing looks like a good way... Read More

The 13 Hidden Treasures of Internet Marketing

Most people get into internet marketing because it looks like... Read More

Chasing New Business?

As well you should. New business is what makes the... Read More

7 Tips to Help Internet Marketers

To make a living online is the dream of many... Read More

How To Create an Offer Your Buyers Will Love

With the creation of the Internet, it has become easier... Read More

Seven Marketing Questions You Should Ask Before You Get A 10 Year Old To Build Your Website

Google tells us there are 4 billion websites- almost one... Read More

Streamlining Internet Marketing

With each new Internet Marketing (IM) Guru, there comes a... Read More

Dumb Money And Smart Money

One of my goals online is to give you the... Read More

My Dog Ate My Website

I am really fascinated by the world of on-line marketing.... Read More

HOLY TRINITY: The Three Focal Points Of A Successful Online Venture

"For which one of you, when he wants to build... Read More

Visitor Traffic Statistics 101, or, The Who, What, When, Where, Why & How of Web Analytics

As we all know, visitor traffic is crucial to the... Read More

Seven Reasons Why New Products Fail

The most optimistic success rate I have run across for... Read More

How Can Multimedia Work For You?

Multimedia here and multimedia there. Is it just a flashy... Read More

Avoid The Sharks

They hang around your web site. Not buying, just lurking.... Read More

20 Amazing Ways To Jump Start Your Sales

1. Find a strategic business partner. Look for ones that... Read More

How To Identify Ideal Money Making Web Opportunities

I was winding my way up the levels of a... Read More

Traffic, Money, How To Get There

Want more hits to your website or someone actually buying?... Read More

The Unsung Heroes Of Internet Marketing

One of the reasons that people fail to earn anything... Read More