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Vol. 1 issue #202 Oct 2, 2006

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Internet Marketing Joint Venture KILLERS
2006 By Willie Crawford

Almost every single day, I get asked to participate in Internet marketing joint ventures. So do many of my closest friends that I regularly discuss Internet marketing with. We see a lot of the same mistakes...
mistakes that severely lessen the chance of a JV being accepted... being repeated over and over again.

Review these mistakes, and ask yourself if these things hampers YOUR efforts to land lucrative JVs:

1) The initial JV proposals are far too lengthy. When emailing someone who has to sift through hundreds of emails per day, don't make your email too long. If it looks like "your life's story it's very likely to be set aside to be read later (later usually never arrives), or it's simply deleted because it would take too much time to read.

If it's an email proposal, make it incredibly easy to identify as a JV proposal, get right to the main points, and make your offer. Ask them to email or call you for more specifics. As with any communication, your first challenge is just getting your prospective partner's attention. If you don't do that, nothing else matters.

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Brian and Stacey Saul   
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Brian and Stacey Saul (user id: thesaulgroup) is offline. Last login: 9/16/2006 4:54:43 PM 305 Friends
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Industry Network Marketing

 

2) Participating in the JV is too much work. Make
it as easy as possible for your prospects to participate.
You should have already done 90% of the work involved in them presenting your offer to their list. If you don't, your offer will be bypassed for something easier to implement. Offer an email that they could simply copy, paste, and send to start things rolling. Yes, your partners should personalize messages to their audience, but you need to be prepared for them not having the time for that.

3) Overlooking smaller publishers with very loyal and responsive lists. Often the publisher with only 1000 subscribers who actually reads his ezine will produce better results than the publisher with 100,000 subscribers who rarely read his ezine issues. Since these smaller publishers are approached less often, you also have a greater chance of having your proposal accepted.

4) Not having tested your web copy and conversion
rates. Don't expect potential partners to be "guinea pigs."
Instead, spend a few dollars driving some Google AdWords traffic to your site so that you actually have a measured conversion rate to share with your partners.

If your initial testing doesn't convert at the rate that you had hoped for, revise the page and keep testing. You may land a JV with a "big fish" - ONCE. However, if their results are dismal, they'll be very hesitant to do JV's with you again.

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5) Shoddy site that appears to have very little credibility. Your potential JV partners are usually interested in the bottom line, and customer satisfaction.
If they're fairly experienced, they can often look at a site and gauge how successful it will be with their audience.

One of the factors that reduces credibility (in my opinion) is testimonials by the author of a product or those interviewed in the product. Those people have "ownership"
in the product, so they're expected to say things to help sales. Make most of your testimonials from people other than those featured in the product. If you don't have any yet, give away a few copies to get some. Also, you could quote experts on the topic who've said thing to validate points made in your copy.

6. The ever expanding JV. Don't ask someone to be part of a JV by being interviewed, then ask them to help write the web copy, then ask them to write your ads, then ask them to do several solo mailings to their lists, then ask them to provide a review of your 500 page ebook, then ask them to do a line-by-line critique of your web copy, then ask them to locate other JV partners for you.

The above example is a little exaggerated, but I've been asked to participate in several JV's that were very close to that description. What I witnessed with those JV's is that many who initially said yes, later dropped out because they had their own businesses to run.

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7) Product priced too low to offer a respectable return on investment. No matter how good an ezine is, or how good a publisher's relationship is with his audience, they only want to hear from him so times per week. This means that publisher generally can't send special mailings notifying his list of every good deal he discovers. If I did that, I'd be sending my list 2-3 emails per day.... and they'd all unsubscribe in a few weeks.

Only seek JV partners for products substantial enough to offer a good return for the resources your partner is asked to invest. Sending a mailing to one's list IS using up a precious resource. Most publishers do view it that way, so you need to appreciate that point.

8) Don't ask a potential JV partner to help promote a product after he's only recently promoted a competing product. If a publisher says one product is "the greatest thing since sliced bread" one week, he can't credibly say the same thing about a competing product a week later.

We've just gone over eight things that you need to consider when putting together an Internet marketing joint venture proposal. There are dozens of other things that you need to consider. Notice that all of the things mentioned above have a common theme though. They suggest that you need to view your package from the perspective of your potential partners. Do that and you won't do things that are likely to kill the JV before it even gets off the ground. Do that and you'll be able to tap into one of the most powerful tools available for growing your on-line business... joint venturing with those who already have the attention of your target market!

ABOUT THE AUTHOR:

Willie Crawford is a corporate president, published author, seminar speaker and host, tele-seminar speaker and host, retired military officer, karate black belt, master network marketing trainer, and lifetime student of marketing. He shows people how to actually generate substantial income on-line using very simple, easily modeled systems. An example of such a system that you can study and duplicate is at:
http://ProfitMagician.com

 

 

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