Product Endorsement Joint Ventures: Short, Sweet 'n Successful - Part 1
Copyright 2006 Chonticha Marijne
Successful Internet marketers prosper from joint ventures with their peers every day, so why shouldn't you? The joint venture (or JV) is a win-win, low-cost and low-risk proposition for all involved: you, your JV partner and your customers. There are several forms the JV can take, but let's focus in this article on a very popular form indeed: the product endorsement. It can be a powerfully lucrative method to rocket your sales within a very short time span... and by doing little more than sending a couple of emails!
Let's say you have a great product that you either own outright or that you have the resale rights to. However, you don't have an opt-in list to offer the product to or you want to be able to tap into more markets. Why not find a reputable JV partner with a significant and targeted mailing list and leverage their credibility and influence instead? Provided this JV partner is respected in their field, they will command the trust of their subscribers and the upside of that is that the goodwill that they enjoy can be passed on to you. Of course, your product must be of high quality as your JV partner's reputation is at stake and it must not be in direct competition with any of their products, otherwise it's highly unlikely that they will agree to a partnership.
Finding good JV partners isn't hard, but you will need to select them wisely. Team up only with marketers who have an excellent relationship with their subscribers. As an Internet home business entrepreneur, you will undoubtedly be on many potentially lucrative lists yourself, so it's a matter of selecting a few that will most likely contain your target audience. You can start off by sending the list owner an email to gauge their interest. Make sure that you show them that you are up to speed on their activities -- you're on their mailing list, so offering a comment or two is easily accomplished. Don't try to sell the entire project right off; it's better to follow up with details if they respond positively. Don't use hype, don't beat around the bush -- you'll find that keeping it short, simple, sincere and straightforward is the best approach. Don't take it personally if they turn you down. You will meet with dissappointment regularly, but don't give up, otherwise you will never hit the mother lode! Be sure to treat people courteously as they may end up doing a JV with you at another time. It should be part of your long-term strategy to develop good relationships with potential candidates -- never view them just as a one-off JV partner . Meanwhile, just move on to the next name on your list. If you have a good product, you will undoubtedly find a partner who is genuinely interested.
[To be continued in Part 2]
Article Source: http://www.articledashboard.com
Chonticha Marijne enjoys growing her online business from home in Gouda, the Netherlands. Her blog www.e-Abundance.com/blog offers articles, tips, tools and freebies for the Internet marketer as well as her popular report "106 Amazing List-Building Tips". This article is copyright