The Truth About Joint Venture Partnerships
In my previous post, an introduction to joint ventures, I wrote about joint venture partnerships and why they are so important to have in your Internet marketing toolbox.
Today I want to quickly cover one of the biggest objections I hear people make as to why they will not consider joint ventures in their marketing campaigns.
The objection usually goes something like this:
‘Why Should I Enter Into A Joint Venture Partnership When I Can Keep All of The Profits for Myself?’
I hear this question so often, and yes, you can generate traffic to your promotions all by yourself, and yes, you can keep one-hundred percent of the profits.
But, let’s take a deeper look at this using a quick example:
I have an ebook sells for $97. I average 100 visitors a week and sell 4 copies of my ebook making me $388 each week. Not bad!
Now, I ask Mike to JV with me and he agrees at a commission of $57.
Mike now sends me an additional 100 visitors a week and again, I only make 4 sales out of each one-hundred visitors… but I bet you’ve guessed it already…
Even with Mike’s cut of 4 x $57 = $228, I’ve made an extra $160 for doing nothing (other than putting in the time to create the joint venture partnership in the first place).
With the above maths in mind, just imagine if you had an army of 100 joint venture partners all promoting your ebook at a $57 commission per sale. You would make $16,000 in a week. I think you’ll agree that this is what it is truly all about.
Joint Venture Traffic
Another important factor to remember about your joint venture partner’s traffic is that each JV you get on board will have already built up a
relationship with their list of subscribers.
This means, when they send out an email containing a recommendation for your product, their subscribers are more likely to respond by opening the email, clicking on the link and hopefully going on to purchase from you.
This is known as warm traffic. Warm traffic generally converts at a higher percentage than cold traffic because they have been pre-sold the product by someone they trust.
Now you understand the potential of entering into a joint venture partnership be sure to read my other posts on the subject.
To your success,
Karl Foxley
P.s. How would you like to discover the one marketing method that was responsible for bringing me new clients on an almost daily basis without me ever having to go out and sell my services. This course alone will permanently change the way you look at marketing.
Here’s the link: Integration Marketing
You explained very well why a Joint Venture is good. Many people don’t understand this and they wish to keep all their earning for themselves instead of sharing some of those earning and making more money.
Absolutely John, it’s a mindset I hope posts like this will help change.
I would agree with the mindset.
I suppose it’s for you, the product owner to decide, do you want 2 or 3 sales where you keep all the proceeds -or- do you want 20 or 30 or more affiliate sales where you keep half of those proceeds.
Not to mention, some jv partners are spending money for the traffic they drive to your offer. They pay for the traffic whether it converts or not, but as the product owner you’re only paying out if a sale is made. Seems like a sure thing to me! I’ll sacrifice the 50% or whatever percentage that may be.
Hey Karl,
In my opinion people are nuts if they don’t even consider a joint venture partnership. There are more benefits to joint ventures than just having a 100% commission based sales person. You will inevitably get the highest quality feedback about the product as possible. There are other synergies as well.
Kathy recently posted..The Real Money In Freelance Writing Comes From Promoting Your Own Niche Websites
Absolutely Kathy. A lot of my joint ventures lead to word of mouth buzz that lead to other partnerships, and for that alone I highly recommend JV partnerships.
Great to see you here Kathy.
Karl