Some time back I did a post on how to approach JV partners.
Joint ventures are awesome.
Back in January I attended the Affiliate Summit in Vegas with my brother. On the first night there we went out clubbing at Tryst with a bunch of massive Internet marketers.
We partied all night. They literally made it rain money by throwing cash in the air. I had to hold back the Chinaman within me from getting on my knees to stuff those notes in my pockets… Gave it away to incredibly excited, scantily-clad chicks instead. I’m so classy.
Aside from the major partying, I also met up with the top Clickbank Gurus including John Chow, Shoemoney, Anthony Morrison and more…
Why am I bragging again?
Because I can.
No, actually I just wanted to say that in one night I got more promotions than any other IM strategy out there on list building, traffic generation, SEO, backlinking etc.
Your net worth is your network.
And that’s why Joint Ventures are so damn awesome.
If you haven’t considered them yet, then take a look at the killer benefits:
- Grow a crazy targeted email list fast
- Build powerful and profitable relationships with others
- Boost your reputation and credibility through association
- Magnify your business
- Reach a ton more people
In a nutshell, JVs are basically a way of leveraging off others so you do less work but make a crapload more cash.
Of course, if you’re the little fish then you’re the one that does all the work, but still… that crapload of cash still gets deposited into your bank account.
So if you’re still unsure of what JVs you can be a part of…
Here are 5 types of joint ventures you should be part of:
1. Email Joint Venture
This is probably the most common JV around.
Basically it’s an ad swap.
For you brand newbies, that means you email your list about another marketer’s offer and that marketer emails their list about your offer.
See, let’s say you have 3,000 people on your email list, and you meet someone who has 5,000 people on their list.
Chances are pretty good that at least 50% of the people who are on your list, won’t be on the other guy’s list, and vice-versa.
So you can combine or exchange your lists. This benefits both of you, because you’ll be able to expand your lists and be able to reach twice as many people than you were reaching before.
Do this only with others who are in the same niche as you.
Obvious as it sounds, I’ve actually met someone who swapped their IM list with a fitness list. Well I guess Internet marketers should work out. And fit people probably want to make money online too. Why not.
Anyway, remember to always build a relationship with the people on your list, new and existing, before trying to sell them anything.
2. Traffic Exchanges
If you don’t have an email list… what’s wrong with you?
Start building an email list.
Ok whatever. You definitely have a website or a blog and (hopefully) regular traffic. If so, you can JV with someone else in your niche who gets around the same amount of traffic.
Guest blog for one another with links back to your own sites.
You leverage off each other’s sites and bring their existing traffic back to you.
Now unlike ad swaps, there’s no guarantee that you can actually match traffic click for click. Even so, your post is going to be up there forever so on a long term basis it will still pay off.
3. Cross Promotions
This involves forming a partnership with someone else who has a product that is related to your product.
For example, you might be promoting a book on living a healthy life, and someone else has a series of videos on exercising and working out.
You could promote your products as two products which complement each other.
Of course, even here, the money you make may not be balanced evenly between both parties.
Still, it’s pretty cool.
4. Endorsements and Testimonials
This is when two parties offer endorsements and testimonials for each other.
By endorsing your partner to your list, with whom you have a carefully cultivated, trust-based relationship, the customers that are loyal to you will be able to trust the person you are endorsing.
And endorsements and testimonials from a trusted source are always a very powerful selling tool for online marketers.
In fact, this is undeniable social proof that you’re legit and people should listen to you.
5. Event Joint Ventures
This can be a virtual trade show or even a webinar.
When you combine forces with someone else, you can present a larger event, and attract the attention of more people who are potential customers/clients.
You’ll be able to split the cost of the show between you, as well as the cost of promoting the show. This is better value for your advertising dollars. And at the same time, gives more value to your viewers.
Win win win all round.