Thursday, 22 July 2010
8 Tips to be Successful with your own JV offer
Most likely you have already heard other people getting all excited about JV's and how they can help you build your online business.
Or maybe you belong to that group of people who are not familiar with JV offers, which is short for joint venture offers... also known as business proposals.
Either way... you can benefit tremendously from the following 8 tips to be successful with your own JV offer. Let's get started...
1. A JV offer doesn't require a JV partner to buy your products or services to become a JV partner.
Asking you potential JV partner to buy the product or service would be considered a sales offer and not a JV offer. A JV partner is usually offered a free review copy of your product or service.
Doing that drastically increases your chances to gain a JV partner as this makes him or her feel obligated to return the favor by doing his part of the partnership and e.g. promoting your product or service to their lists.
Why am I mentioning this? Yes, you guessed it right... I had people contact me to do a JV with them and when I asked for a review copy to check first the value of the product... I was referred to their sales page!
2. A JV offer has to be a win/win or better a WIN/win. :)
A JV offer has to provide your JV partner with one or more additional benefits for becoming your partner... his WIN. Your win will e.g. be to be able to tab into your JV artners list and gaining extra sales.
A JV offer that offers a win/win could e.g. be:
"I am looking for JV partners that can promote my product or service to their list of contacts.
In return for you are recommending my product or service to your list, I will not only provide you with a free review copy of my product or service, but also pay you a 10% higher commission than regular affiliates."
Another example... a JV offer for a service you provide could e.g. offer this:
"I am looking for a JV partner who needs a small to medium sized software product developed in Visual Basic. I can offer to do that for you free of charge in return of 10% of the profits you generate selling that software for the first year starting at your first sale and 5% for the time after the first year."
Again, a win-win situation... the JV partner has a product without out of pocket expense that he can sell exclusively to his lists, his WIN. And you can earn royalties for live without your own list.
3. Don't make the initial JV proposals too lengthy. Especially when you propose to a well know marketer, this can be the JV kill. Those people often have very limited time and will not even read your message all the way to the end if it's pages long.
It is better to send a short teaser email first and then follow up once they reply with all details.
4. Make your potential JV partner feel like you're a peer and not a salesperson.
Do your research before you send your first email to a potential JV partner.
Make the style of your JV offer personal, mention details about their business and how the JV offer can help them in what they want to achieve.
5. Don't let your JV partner do all the work, participating in the JV should very as little work as possible for them.
Be prepared and offer them to provide marketing material for your JV partner. This can be solo-ad copy, banner and text ads and other materials your JV partner can use to share the word about your product or service.
The less work it is for them, the more likely they will become your JV partner. It is that simple.
6. Don't just go only for the big player.
Overlooking smaller publishers that have a very loyal and responsive list can be another mistake. Besides, those will be much more likely interested in your JV offer as they are not flooded with them (yet).
7. Show them how you can help their clients and customers.
Give an example how your product or service compliments your potential JV partners own products or services. This way you help them to provide an even better service to their clients and customers.
This will also build trust that doing a JV with you will not only earn you and them money, but show that you are interested in helping them to look good in front of their own clients and customers.
8. Test your web copy and conversion rates and provide details.
By letting them know your conversion rate, they will know that sending traffic to your is not a bottomless pit. They can estimate how much they will be able to earn by doing a JV with you.
If you know e.g. that you will generate 1 sale out of every 70 targeted visitors your sales page gets, then let them know that you have a 1.4% conversion rate on targeted visitors.
Knowing all of the above, your next question might be... where do I find JV partners to contact?
Here is a list of resources in alphabetical order that will help you getting started:
- Anthony Blake Online - Entrepreneurial Success Forum: http://www.ablake.net/forum/
- JV-Network: Free membership site to become a JV partner of top marketing experts or to post your own JV offers for a fee: http://add2it.com/see.pl?JVnetwork
- jvAlert: Paid membership site to become a JV partner of top marketing experts, post your own JV offers and search their offers database: http://add2it.com/see.pl?jvAlert
- jvAlert Member Forums: http://www.jvalert.com/forums/
- JV Money Makers Forum: http://jvmoneymakers.com/forum/
- Mark Hendricks's Inner Circle Marketing Forum: Free section to post and find JV offers: http://www.hunteridge.com/forum/members/
- Mark Hendricks's JVdealmaker Players Club Forum: Free section to post and find JV offers http://www.jvdealmaker.com/members/
- Michael Green's "How To" Internet Marketing Forum: http://www.howtocorp.com/forum/
- MikeFilsaime's Marketing Forum: Free section to post and find JV offers http://www.1sitemanager.com/forum/
- The Warrior Forum: Free section to post and find JV offers (Note: Before posting, first post helpful feedback in other sections of the forum) http://www.warriorforum.com/forum/
- Warrior Discussion Forum: Free section to post and find JV offers (Note: Before posting, first post helpful feedback in other sections of the forum) http://www.warriordiscussion.com/forum/