The Five Most Common Joint Venture Marketing Mistakes To Avoid

Written by Habiba Abubakar

Joint Venture marketing has become a highly popular way for small businesses to maximize their profits. When two or more businesses combine their resources synergistically, it creates greater marketing impact and bigger profits than either can have alone.

Doing joint ventures has many benefits, but there are also many mistakes that can be made. These mistakes can be costly, not only in revenue, but in credibility with your client base.

These are notrepparttar only joint venture marketing mistakes made by small businesses, but as these arerepparttar 145079 most common, avoiding or correcting them will certainly put you onrepparttar 145080 right path.

Here arerepparttar 145081 five most common mistakes to avoid:

1.Not takingrepparttar 145082 time to ensure that your partner has great-quality products and services and a solid reputation.

When you choose a partner, it is imperative to choose one that has high-quality products and services as well as a good reputation withinrepparttar 145083 industry. Sometimes, a company may look better onrepparttar 145084 surface than it really is. Your credibility is at stake if you partner up with a company that has sub-standard products and services or one that is popular for bad customer service. Do your research about your potential joint venture partners and review their products and services before endorsing them as these issues will reflect on you and your business!

2.Offering your partner too small of a deal

There has to be an incentive for your partner to engage with you, and offering too small of a deal won’t make it worth their time and effort. Remember that endorsers with a large, targeted and loyal client base arerepparttar 145085 most wanted joint venture partners. They’ll partner with others if you offer a percentage ofrepparttar 145086 profits that’s too low. So make this mental note... if they are worth pursuing, they are worth sharingrepparttar 145087 profits with.

How Do You Get Past A Gatekeeper?

Written by Habiba Abubakar

The best joint ventures are with people in your own network – those that already know, like and trust you. However, there’s nothing to stop you from partnering with “cold” contacts – those you’ve never associated with before, and you would therefore need to build a relationship with. This simply means it will take a bit more time to executerepparttar joint venture because any “cold” contact would need time to evaluate your character and your business before committing to a partnership with you.

One ofrepparttar 145078 skills you need to acquire if you choose to joint venture with a “cold” contact is this... getting pastrepparttar 145079 gatekeeper!

Your potential joint venture partners may not pick uprepparttar 145080 phone themselves. They may have a secretary, or an assistant, or a receptionist that screens calls before puttingrepparttar 145081 calls through to them, or someone that screens letters before puttingrepparttar 145082 letters in front of them. These people are known as gatekeepers. Your potential partners may even have a permanent voicemail kind of set up. In this case,repparttar 145083 voicemail isrepparttar 145084 gatekeeper.

Here are some tips for getting pastrepparttar 145085 gatekeeper:

•When you callrepparttar 145086 office, treatrepparttar 145087 gatekeeper withrepparttar 145088 same respect that you would treatrepparttar 145089 potential partner. This will make them warm up to you. Sound important, but courteous e.g. “Hello there, please put me through to Joe Smith.”

•Develop a relationship with a source that knows your potential partner, and then receive an introduction from that source so that you go in withrepparttar 145090 introduction fromrepparttar 145091 source. So, when you callrepparttar 145092 potential partner’s office andrepparttar 145093 gatekeeper asks what your call is regarding, you can say “His good friend, Jim Benson asked me to call him.”

•Adoptrepparttar 145094 gatekeeper i.e. develop a relationship with them. Do this by engaging in a conversation with them whenever you call. Developing a relationship withrepparttar 145095 gatekeeper comes in handy when you’ve been unable to reach your potential partner because they’re often out ofrepparttar 145096 office.

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