If you are having trouble getting the number of sales you want, or simply want to increase your profit margin, then you would greatly benefit from having joint venture partners. In this article, you will learn what a joint venture partner is, who you should want to be your joint venture partners, and what benefits you get from joint ventures, aside from the increase in sales and profits.
What is a joint venture partner, you ask? A joint venture partner is someone with who agrees to partner up with you in order to sell or promote a particular product of yours. The joint venture partner is typically someone in your niche who has a prospect or customer list of people to whom he or she has been promoting his/her own products or affiliate products. In exchange for a certain percentage of the price of each sale as a commission, or a certain number of dollars per lead, the JV partner, as joint venture partners are otherwise known, agrees to promote your product to their list of prospects or customers. Your goal is to not only work with, but build a solid long-term relationship with people whose success you can leverage to help you build your own online business.
It is wise to look for certain key traits when searching for potential JV partners. You want to partner with someone who has established credibility as an expert within your niche. Look for people with popular blogs or websites within your particular niche, especially those on which many people leave comments. This indicates that the person has a built a relationship with his or her readers, and that their recommendations will likely be viewed as trustworthy and reliable. As the saying goes, a person will not care about what you know until they know that you care. No one wants to feel like nothing more than an ATM to a salesperson. Having a number of people who regularly comment on the expert's posts indicates that their prospects feel a mutually beneficial bond exists. You also want to study the person's biography, which is usually found on the "About" page of their website or blog to see what their expertise is based upon. Have they actually walked the walk? Or is it all talk with little to back it up? This may help you when you approach a JV partner if you find that you and the expert have had common experiences.
There are many benefits of a joint venture partnership beyond mere profits. By getting in the door, so to say, with an established expert in your niche, you get exposure to a larger customer base. Your association with an expert will likely have the effect of making you appear to be an expert as well. After all, since this person has a relationship of trust with their list, they will assume that you must be trustworthy as well, or else this person would not be promoting your product. Another advantage of having good joint venture partnerships is that you are building a relationship of mutual support and trust with someone in your niche. In the future, you and this person may agree to promote more of each others' products, provide valuable feedback at various stages of your online career or even decide to build a product together. This, of course, assumes that you have shown yourself to be a credible, reliable and trustworthy JV partner. Also, if this person is impressed with their experience with you, they may very well be willing to introduce or recommend you to other experts in your niche who might also be good potential JV partners.
Joint venture partnerships then are collaborations between two people selling products in a particular niche for the mutual economic benefit of both partners. Look for a jv partner within your niche who has established a relationship based on credibility with his or her readers and/or customers. Aside from economic benefits, if you are not yet established as an expert within your niche, you have the chance to increase your reputation by leveraging the reputation of your joint venture partner. Now go out and apply what you have just read. Find yourself jv partners. Good luck in your business ventures!
For more information about joint venture partnerships, please visit: http://jointventureforprofits.com/
Tracy Campanella, the author of this article, is an internet marketer whose goal it is to help you to grow your own online business by ethical, honest means. She believes that building an online business is hard enough without having to filter out those marketers who only are concerned with how much money they will make from you. She believes as a matter of principle in only making or promoting products of quality that will bring value to customers. As someone who is a trained and certified teacher, she knows first-hand the feeling of satisfaction and pride that comes from knowing you have made a difference in the world. She hopes to extend that feeling from being in the classroom into the area of internet marketing. She is a person of many diverse interests outside of internet marketing. Among her interests are quotations, languages, personal development, reading and writing. She welcomes your comments and questions. Please feel free to contact her on FaceBook at http://facebook.com/tracy.campanella.
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