Marketing: The Most Powerful Marketing Strategy Available To Small Businesses

The Most Powerful Marketing Strategy Available To Small Businesses

Written by Habiba Abubakar

Most small business owners want to generate huge profits, with little effort and in repparttar

least amount of time. If you fall into this category then joint venture marketing is repparttar 145080

fastest, easiest and most profitable way to do that. Joint venture marketing involves two or more businesses combining their resources to work towards a common goal, and create a win-win situation for all parties involved. It’s about partnering with another business to leverage on resources that your small business wouldn’t otherwise have.

While it appears to be more popular with online businesses, joint venture marketing is still implemented by offline businesses, and it certainly works just as well in repparttar 145081 offline world. In fact, one of repparttar 145082 reasons why many industry giants like Southwest Airlines are so successful is because they implement joint ventures.

Doing joint ventures has many benefits, but I’ll focus on repparttar 145083 top seven benefits for small business owners.

Here are seven reasons why joint ventures are repparttar 145084 most powerful marketing strategy available to any business, and why every small business should be doing joint ventures:

1.You’ll pay for results only.

When you place an ad or you rent names for a direct mail campaign, you still pay repparttar 145085 publication or list broker, whether you generate responses or not. With joint ventures, you only give your joint venture partner a cut of repparttar 145086 profits based on repparttar 145087 sales made as a result of repparttar 145088 joint venture. If no sale is made then your joint venture partner gets nothing. That eliminates potential losses. How’s that for low-cost marketing?

2.You’ll increase credibility.

Your joint venture partner probably spent years building a good reputation within their industry. They therefore have influence and credibility with their clients. By partnering with them, you’ll be tapping into this resource. You can piggyback on your joint venture partner’s credibility and shine in their glow.

3.You’ll be adding value and getting more profits.

By endorsing products and services of great quality, you’re creating new, hassle-free profit outlets for your small business. You’ll also be offering your client base a larger variety of products and services. This means you’ll be adding value to what you already offer, and increasing your profits at repparttar 145089 same time.

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 not repparttar only joint venture marketing mistakes made by small businesses, but as these are repparttar 145079 most common, avoiding or correcting them will certainly put you on repparttar 145080 right path.

Here are repparttar 145081 five most common mistakes to avoid:

1.Not taking repparttar 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 within repparttar 145083 industry. Sometimes, a company may look better on repparttar 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 are repparttar 145085 most wanted joint venture partners. They’ll partner with others if you offer a percentage of repparttar 145086 profits that’s too low. So make this mental note... if they are worth pursuing, they are worth sharing repparttar 145087 profits with.

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