When it comes to joint venture marketing (JV), the benefits of it are obvious. There are many advantages and disadvantages of joint ventures, but you should know that the positive outweighs the negative. There isn't a better time than now to start a joint venture with someone in your niche.
Now when seeking out JV partners, you will want to make sure that you're not contacting direct, rival competitors of yours. This is just nonsense. You will want to find people in your niche who sell to a similar demographic that you do. But offering a JV partnership with a core rival will only lead you into losing alot of your customers, and scrambling to get more.
I want to share with you some of the advantages and disadvantages of joint venture marketing so that you can understand why JV marketing is important, and how it can help to boost your online business simply and easily. Here's the first advantage of JV marketing.
- You get a list instantly
With JV marketing, you don't have to go through the long, laborious process of building a list from scratch. If you have a good product, you can contact someone who has a list, and offer your product to their list to see if there can be a possible income opportunity there. With an instant list, you can't go wrong. Here's another advantage of JV marketing.
- In business immediately
Some people have launched their business off of joint ventures. You can do the same thing even if you are a "little guy" in your niche. You can definitely compete against larger corporations in your niche all because of the power of the joint venture.
Now sure you will want to employ more marketing strategies other than joint ventures, but joint ventures are just one of those things that can help you to become incredibly profitable in a short period of time.
Now here is a disadvantage of JV marketing:
- You have to handle the tracking
If you don't have a good system to track your JV campaign, the deal may not be done. Sure some people will do JV's with you without tracking, but most of your partners will want to see some sort of tracking element so that they can see if the campaign is profitable or not. So if you don't have any special software or program to do the tracking, you will want to find one immediately. Here's another disadvantage:
- Commission payout is higher
You will probably have to offer your JV partner around 60% to 65% if you want them to say "yes" to you. This is something that is just standard in the joint venture world, and believe it or not, some potential partners will request an even higher commission.
You will have to balance out the costs, and see if you can come to an agreement with your JV partner. That way both parties can agree on a commission resolution, and both of you guys can profit together in your businesses.
Take these JV marketing tips and use them to earn alot of money in your online business today.
Good luck with using joint venture marketing to your advantage today.