Joint Venture Tips – How To Persuade Top Joint Venture Partners to Promote Your Product |
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Published on: 2008-06-04 | By: Jeremy Gislason
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No other marketing methods could compare to the profit-boosting power of joint ventures (also called JVs). That’s because you get to leverage from the list, effort, or even money of your JV partners.
Most internet marketing authorities have a network of other top marketers where they get to promote each others’ products. As a result, many of the top launches have produced millions of dollars for the product creator and his JV partners.
But what if you’re just starting out or you haven’t built solid relationships with other marketers yet? Don’t fret. Here are some joint venture tips to boost your chances of persuading them to endorse your product:
1) Promote their products first before you invite them to endorse yours. The law of reciprocity is very powerful. When you give first, the recipient would feel obligated to return the favor. Once you’ve made them some sales, they’ll be more receptive to your JV proposal.
2) Make sure that your sales copy is converting well before you invite JV partners. Recommended conversion rate is at least 2%.
You can accelerate the testing process using pay-per-click or paying for solo ads in other people’s ezines. Tweak your sales letter until you have arrived at a decent conversion rate. Then that’s the only time that you invite joint venture partners.
Think about it. If they endorsed your product and didn’t get good results, what are the chances of them promoting your product again? Probably never. That’s why it’s critical for you to test, track, and tweak your sales copy to near perfection before proposing a JV.
3) Most marketers will not promote your product unless they’ve personally used or evaluated it. They want to make sure their list will benefit from your material. This is good practice since gaining the trust of subscribers and establishing your credibility is vital in business.
In this case, send the download link to your potential joint venture partners. By checking your product out, they may even find a selling hook that will resonate well with their audience.
4) Offer them a wide variety of affiliate tools to use. The most popular ones include solo ads, sponsor ads, banners, graphics, articles, rebrandable reports, pay-per-click ads, keywords, signature lines, etc.
Some marketers have even created affiliate videos that will redirect to the JV partner’s affiliate link after watching. This has proven to be highly effective.
Consider making some training videos with camtasia, or at least provide them a step-by-step guide to succeed in promoting your product.
5) Many marketers have newsletters or ezines where they give valuable content to their list. Ask them if they would be interested to give a free quality report that can be rebranded with their affiliate link.
You may also ask if they would like to include your article in their newsletter, where they can insert their affiliate link in the resource box.
Their subscribers will get great information while your joint venture partners will have the opportunity to earn from them.
6) Ask your previous JV partners who had success in promoting your product if they could write you a short testimonial. It would be best if the testimonial is more specific, giving reliable information such as the amount they’ve earned, their conversion rates, etc.
According to the law of social proof, individuals tend to be influenced by other people’s actions. The more testimonials you gather, the more attractive your program is perceived to be.
7) Be generous with your commissions. Some would even give 100% commissions; they simply share in the earnings of the one-time offer or upsell. They also get to build a subscriber and customer list, so it’s a win-win situation for everyone.
My recommendation would be to give 75% or more commissions if you’re aiming to attract a lot of joint venture partners. Most give 50% commissions, but anything below that would not be appealing.
8) If you’re launching a new product, hold affiliate contests and give cash prizes to top JV partners. Cash prizes, and being listed at the top 10 of the JV list, can be very motivational. Some would even go to great lengths as creating unique and expensive bonuses, just to win one of the top prizes and obtain the bragging rights.
9) Make sure there are no loopholes in your sales copy. It must be focused on selling your product.
It’s fine to put an exit pop-up or a non-distracting opt-in form in the middle of the webpage (as long as it jives with the sales copy). However, most marketers dislike promoting a squeeze page because the potential customers have to take extra steps before getting to the sales letter. Any additional step means lesser chances of getting the sale.
Don’t put an affiliate program link or any other outbound links on top of the sales page because it distracts the reader. You can put your affiliate program link at the bottom of the page. All other unrelated links should not be included.
10) Keep in touch and maintain a solid relationship. If your joint venture partners live close to you, invite them to lunch or for a brainstorming session. Help them when they need your assistance or advice. Give gifts during special occasions. Being likeable, making yourself available as a friend, and building relationships are the keys to a successful lifetime partnership.
Follow these joint venture tips and you’ll have many partners promoting your product and earning you solid income for years to come. |
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