As a business owner, you may have thought about teaming up with other local businesses to do cross promotions or joint ventures, but the odds are you've never quite gotten around to it. And even if you did do some deals, your results might have been a little under-whelming.
But all is not lost, and regardless of whether or not you have tried to do JV's like this in the past, you should start thinking about how you can get started doing these types of promotions. That's because there are so many benefits, and you're leaving a lot of money on the table if you don't at least test them out in your business.
Here are 5 of the main benefits of creating joint ventures with other local businesses -
1 - You get to capture the names, mailing address and emails of every buyer on your JV partner's list so you can fulfill their orders. This lets you make backend offers these new buyers for related products and services for months or years to come. And of course, the real money is in the backend.
2 - Your product can be on sale to the public much more quickly than it would have been had you gone the typical route of using TV, Radio, and Newspaper ads offline, or using PPC advertising, newsletter advertising, article marketing or SEO online to generate sales.
3 - You can ask your new buyers for testimonials which you can then use in your own personal marketing to generate additional sales, without having to share any of the revenue with your JV partner.
4 - You'll be able to survey your new customers and ask for their feedback. That's how you'll know exactly what new products or services to sell then as back-end offers, which makes it super easy to generate those future sales.
5 - Lots of your new buyers will be happy to refer friends and family to you which helps you sell even more stuff. And the best part is, these referral sales also cost you nothing because there's no marketing expenses involved.
These 5 advantages are just the tip of the iceberg, but they give you enough reasons to get started with local joint ventures as soon as possible. Just contact a couple of potential joint venture partners to begin with, and do some small test promotions to gauge the results. For most businesses, the benefits of doing these deals far outweigh any problems you could possibly have. Try it for yourself and see.
But all is not lost, and regardless of whether or not you have tried to do JV's like this in the past, you should start thinking about how you can get started doing these types of promotions. That's because there are so many benefits, and you're leaving a lot of money on the table if you don't at least test them out in your business.
Here are 5 of the main benefits of creating joint ventures with other local businesses -
1 - You get to capture the names, mailing address and emails of every buyer on your JV partner's list so you can fulfill their orders. This lets you make backend offers these new buyers for related products and services for months or years to come. And of course, the real money is in the backend.
2 - Your product can be on sale to the public much more quickly than it would have been had you gone the typical route of using TV, Radio, and Newspaper ads offline, or using PPC advertising, newsletter advertising, article marketing or SEO online to generate sales.
3 - You can ask your new buyers for testimonials which you can then use in your own personal marketing to generate additional sales, without having to share any of the revenue with your JV partner.
4 - You'll be able to survey your new customers and ask for their feedback. That's how you'll know exactly what new products or services to sell then as back-end offers, which makes it super easy to generate those future sales.
5 - Lots of your new buyers will be happy to refer friends and family to you which helps you sell even more stuff. And the best part is, these referral sales also cost you nothing because there's no marketing expenses involved.
These 5 advantages are just the tip of the iceberg, but they give you enough reasons to get started with local joint ventures as soon as possible. Just contact a couple of potential joint venture partners to begin with, and do some small test promotions to gauge the results. For most businesses, the benefits of doing these deals far outweigh any problems you could possibly have. Try it for yourself and see.
About the Author:
Learn how to get the most out of your local joint ventures with a optimized sales funnel here so you can make more sales. And get the best advice for growing your profits in 10 other areas by reading this post.
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