Attractive offers for Big Wheels
I just got off the phone with a colleague who is talking and wants to have an online presence. He spent two hours with a marketer who tried to hook him into search engines and search engine optimization. I suspect you may fall into the trap.
SEO, pay-per-click advertising, and search engine optimization all have their place in internet marketing. But they shouldn’t be at the forefront of your marketing efforts. Rather, they should complement or complement your other marketing strategies.
You can hire an SEO expert to put you on the first page of a search engine keyword phrase, but by the following week, your competitors may have tampered with your website a few pages. For days in a row, it may not even appear on the first five pages. You never know from one moment to the next what position you will be in.
It’s like rolling the dice …
And with click fraud, hijacked affiliate links, and the ever-changing unknown world of algorithms, what worked well one month can bombard the next three. And then you are left holding the bag.
Four years ago, an insurance agent I knew received at least five calls a day from his online presence. He even showed me his fat bonus checks. Today, you are lucky to receive one call a week and you are feeling the rush.
But it does not have to be like that …
One of the safest and most consistent methods of building your database and making money is through joint venture agreements. You partner with another business owner to grow your customer base, grow your base, or both.
Let’s face it: it takes a long time to build your list of prospects, customers, members, or subscribers. You don’t have much time. You want to build your list quickly.
With joint ventures, you can leverage your time because your JV partner has spent their time and money building, maintaining, and servicing your list. You have the opportunity to build on their past efforts.
Why does it work so well?
Your partner’s customer base believes you. They trust her. They have progressed, enriched their lives, and made more money from their tips or products.
When she backs you up, it implies that she believes in you too. You are not an overnight opportunist. You are worthy of their trust. And this says a lot to establish your credibility.
Another reason …
Depending on your offering, your response rates can double, triple, or jump the scale with the support of your JV partner. If you send a promotion to a cold list and you typically get a two percent response, the same promotion can generate a four to six percent response rate with an endorsement. It is similar to pumping race fuel into your car. You will reach your destination faster.
Let’s look at three types of joint ventures you can activate:
1) Cooperative treatment. This is where you sell a complementary product or service. Or they co-promote each other’s business.
It is not unusual to see a real estate agent, a mortgage broker, and a title agent working together for a home buyer. Each of the three supports the other to provide faster service to the end consumer.
But be careful with your partner …
I was referred to a mortgage partner and a team member did not keep his word or returned my calls. When the other member called me back, I told him I didn’t want to have anything to do with his company.
And do you know what his lack of experience showed the world? She kept sending me prospecting postcards for the next six months. And finally the other partner broke out alone.
2) The competitive deal. Can Your Woman’s Magazine Partner With Another Woman’s Magazine To Take Advantage Of Hidden Assets? Will your igloo factory benefit from working with the Frosty the Snowman igloo factory?
People saw Frosty the Snowman on TV and ended up in their database. For whatever reason, they never made a purchase. Or they bought a toy shovel and were never heard from again.
Maybe their igloos were too expensive. Maybe their igloos were cheap. Maybe they didn’t like his hat.
You can approach Frosty with the idea of marketing your “dead leads” or “expires” with your igloo products. You probably have a product that Frosty doesn’t have. In this way, both parties benefit from the partnership rather than letting the names sit idle.
3) The unrelated deal. The possibilities are endless with these arrangements. In many cases, partners don’t care what business they partner with, as long as there is money to be made. It sounds artificial, but this is how some people work.
A marketing consultant and a printer can join forces to promote each other’s services. The consultant may write a marketing copy for the printer in exchange for a low-cost or no-cost print. Or the printer can send out a promotion using the consultant’s client list.
As with any action that requires a partner, you need to do your due diligence. Take a good look at the other part. You may need to step back to request business references, check if they are creditworthy, and ensure timely payment.
Avoid rushing into any deal if you don’t know who you are dealing with. A little extra caution goes a long way when working in a joint venture.
Tommy Yan helps entrepreneurs and business owners make more money through direct response marketing. Publish Tommy’s Tease weekly e-zine to inspire people to succeed in business and personal growth. Get your free subscription today at www.TommyYan.com.