How To Build Your Sales
You may have heard of joint venture marketing, It's used frequently by savvy entrepreneurs to increase profits and add loads of prospects to their customer list.
So what is joint venture marketing (or j/v)?
Speaking at the Information Marketing Boot Camp (http://www.dc-infobiz.com), Joint venture expert and entrepreneur John Alanis describes it as "a mutually beneficial agreement to sell similar products or services to customers or prospects."
You approach another entrepreneur and ask them if they'll endorse your product and allow you to mail to their customer list.
In exchange, you give the entrepreneur a cut of the gross profits, usually anywhere from 5 to 25 percent. Or you could arrange a list swap.
J/V marketing allows you to quickly add hundreds or thousands of names to your customer list.
The first step is to find a suitable joint venture partner.
Where do you look?
Try your own customers first. Send out a letter or email announcing you're looking for a j/v partner. Be sure to tell them you're looking for a partner who sells similar products to your own. And ask how many customers they have on their list. Obviously, the more, the better.
Another way of to find j/v partners is in trade publications. Look at the advertisers. You'll probably find a few that sell similar products to your own. Contact them by phone or letter and explain you'd like to create a joint venture with them.
Also look in the Standard Rate and Data Service (SRDS) (http://www.srds.com). This directory has every commercially available mailing list, the list owner, etc. Most larger libraries will have a copy of SRDS, although it may be a year or two out of date.
As well, check out the Oxbridge Directory of Newsletters (http://www.mediafinder.com) It's an excellent source for potential customers from newsletter subscriptions. It's an expensive directory to buy, but ask your library if they have a copy.
YOU MUST BE ENDORSED The most important thing is you must have your fellow entrepreneur include a letter of endorsement.
He has already established a relationship with his customers. You haven't. If his customers are satisfied with his product, then they'll much more open to receiving information from him about other products.
Without the endorsement, the customer response will drop significantly.
You can also ghost write the endorsement letter for your j/v partner and then have him sign it.
APPROACHING A J/V PARTNER The best way to approach a potential joint venture partner is to send a letter and then follow up by phone. Be prepared to phone at least a couple of times before your partner agrees.
When sending out the letter proposing a joint venture partnership, be sure to do the following:Offer to do all the work. You'll handle all the mailing, marketing documents, and product fulfilment.Collect the customer money yourself and then send your j/v partner his cut for each sale.Stress the fact that your partner will be "getting money for no work." This is a strong incentive for an entrepreneur to become your j/v partner.You will deduct your mailing costs and other expenses first and then split the balance with the partner.Always get your j/v partner to sign your letter agreeing to your terms.Include an "exit clause." This allows you to cancel the j/v agreement if you find your partner is a headache to deal with.
By following these steps to a joint venture, you'll be able to quickly add hundreds or thousands of potential customers to your database that normally would take years to accumulate.
And, most importantly, you'll increase your sales.
About The Author
Dave Coyne is a copywriter, marketing consultant. Start A High Income, Low Risk Home Business And Never Create A Product, Write An Ad or Talk To Anyone. Get this free report. Send a blank email to dcinfobiz@GetResponse.com
The headlines across the media are talking about how much the Trump and Pelosi shutdown is costing. Most of it is true to varying degrees but the words are telling only part of the story. This post also reviews the major economic releases issued this past week - although several scheduled releases were not made -
Tesla 160 TSLA 160 CEO Elon Musk is making headlines once again this morning following his decision to cut 7 of the work staff from his leading electric vehicle manufacturer No specific amount of job cuts were announced but estimates are north of 3000 or 3100 Shares took a hit upon
We re again somewhat light on economic data this morning with new Housing Starts and Building Permits for December going unreported due to the partial U S government shutdown which tomorrow will reach four full weeks and already an all time record Thankfully Q4 earnings season and
With the partial U S government shutdown extending its longest period in history at this time next week should it remain closed it will have been for longer than a full month we do not have updated information on Retail Sales for December shedding some light on 2018 holiday shopping
At long last we finally see our first pre market of the new calendar year with multiple earnings reports from major companies in the S amp P 500 We even get new data on the Producer Price Index PPI this morning as well as Empire State results for January In short we re glad to bring you
Pre market futures are soundly in the red this morning following discouraging trade data out of China Exports which had been expected to come in at 0 6 year over year have fallen instead to 4 4 The pales drastically to the previous read of 5 4 Imports were even worse at 7 6 more
The fourth quarter earnings season is finally here. And one way or another, all of the concerns investors and analysts have had regarding a slowing global economy, impact of the trade war and the effect of rising interest rates on corporate profits will be revealed — if not within the numbers themselves, certainly
There is a general downward trend of economic data. Many are forecasting a recession in 2019. I am not convinced that the downward momentum will lead to an economic contraction. This post also reviews the major economic releases issued this past week - although several scheduled releases including factory orders,
Pre market futures this morning are down again although when we ve woken up to red indexes ahead of the opening bell in past days this week we ve managed to finish in the green each time The markets are currently riding a 5 day winning streak as astutely pointed out by Zacks Exec VP
Welcome to day 20 of the government shutdown over a $5-billion border wall that’s taken the SEC offline and put the future of ready-to-go Initial Public Offerings (IPOs) at risk. As of December 27 th , the SEC had only 285 of its 4,436 employees working, even though the agency’s electronic system for filing
We re certainly not above tooting our own horn here at Zacks but we try to be somewhat dignified about it when we do and only when it s truly justified Currently we see ourselves with an excellent opportunity to crow about the developing trend in the stock market first spied by Zacks
For newcomers to the stock market, or any financial market for that matter, one of the hardest things to come to terms with is the frequency with which the market reacts to news in a way that seems completely illogical. Sometimes it is just a matter of digging a bit deeper. An earnings report that shows a bottom
“The outlook for the global economy in 2019 has darkened.” That conclusion came from a new report from the World Bank, citing a variety of data, including softening international trade and investment, ongoing trade tensions, and financial turmoil in emerging markets over the past year. “Storm clouds are brewing
"Bull markets are born in pessimism, grow on skepticism, mature on optimism and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” The above quote came from John Templeton, who made a name for himself during the height of the great
This morning with no economic reports expected to inform investors with new macro data our pre markets up once again today are turning to public commentary from Fed presidents along with the release of minutes from the Fed s last meeting at which time interest rates rose another 25