Joint Ventures: Money for nothin' and
checks for free.Written by Aaron Colman info@ibasics.biz http://www.ibasics.biz
Ever wanted to form one of those nifty "Joint Venture" things?
One of
most powerful marketing techniques around is to form an alliance with another company.
A few types of joint ventures:
* Swapping space - Do you have a place where I could advertise in your store?
* Sponsored joint products - Could you design a product that sold both of your products?
* Sharing referrals - Actively passing on interested clients
* Passing out business cards - Passively distributing marketing material
* Shared marketing campaign - Both businesses share in
cost and reap
benefits.
* Customer list exchanges (Being careful of CAN SPAM provisions)
* A joint newsletter (A 2 page free newsletter can be very powerful)
One of
trickiest things to do is find a business that would benefit from an alliance, but not be hurt by your competition.
To find these businesses ask yourself some of these questions:
* People that buy from us also buy from whom?
* What other things do people that buy from us also like to buy?
* What kind of problems does my product or service help to solve?
* What kind of products or services tend to create these problems?
* Do
people that buy from me have anything else in common?
* Does my product help people accomplish things that require also might require another product or serve?
* Can I slide up or down
product chain?
Example: Lets say you sold gardening tools. You wouldn't want to approach other gardening tool makers, as they're in direct competition with you. Instead, you might want to approach landscapers, professional gardeners, sod companies, fertilizer producers, etc.
Also, realize that your product is just a chain in a link of products. Again, if you sold gardening tools...
people that buy them obviously need additional things to get their garden up and running.
On
bottom of
product chain they need land to garden on. They need equipment to get
ground ready.