7 JVs You Might Not Have Thought About
The cheapest and easiest way to promote your product is through joint ventures. Make use of other people’s lists, other people’s relationship with their customers, and other people’s traffic. When you want to promote your product, the easiest way to get out there is to set up 50/50 deals with list owners that sell to your target market (this method is so powerful it’s often in your benefit to even do the deal even if you have to give up 70% or 80% of the money to the list owner).
That’s a basic joint venture. Today I want to share you a few other ways you can profit from other people’s traffic and lists without using the “normal” joint venture (these 7 come from the 21 shared in the Email Marketing Mastery course).
1. Sell Reprint Rights to a product of yours.
License your product to others. For example, I sell a master reprint rights license to my “Create a Life You Love” product at http://www.betterthangoals.com. What’s my motivation? Of course I use this low cost license as an incentive to buy the product. I also want to share this information with as many people as possible.
What’s my other motivation? I want to get my materials in the hands of potential customers. There are links to my other products inside the package…so I get additional backend sales when other people sell the product. By licensing off this product, I may lose out on a little income from it, but I gain all that income on the backend with no advertising expense or risk.
2. Have 3+ Experts Hold a Teleconference Together.
Team up with other experts and hold a free teleconference where each of you shares several of your best tips on the subject. After you share your tips, make a free or low cost offer to get people to respond at your site.
All the experts on the teleconference let their subscribers know about the event. I recently added 300+ free subscribers to my list through a teleconference like this. How could you hold a win-win-win teleconference in your niche?
3. Create an autoresponder message to add to their series.
Many business owners are using some type of email follow-up now. If your potential JV partners aren’t willing to do a full mailing for you, you could suggest they simply add your already written email simply be added at the end of their current follow-up series. No cost for them…only a minute of work to add it in…and you send them their share of the money from now on.
I love long-term consistent money, so I especially like this method even when someone does a mailing for you. Most people concentrate on the one-shot promotions and income. If you get your email added into a high traffic email series, you can create sales every day…not just one time.
If you come accross a business person who doesn’t have an email series, you could offer to give them a basic one that thanks their customers and then makes your backend offers.
4. Write a product review about their product that their affiliates can use.
A key to getting joint ventures is to fill in the gaps and offer value to the people you want to joint venture with. You want a relationship with that well known expert in your field. Offer to do something for them…such as writing an exclusive article just for them or writing a product review about their product. They get valuable content that increases their sales.
What do you get? You get exposure in front of their whole audience. You get the byline and resource box as the writer. In the resource box you offer something from your site (a freebie to get them on your list). You also now have an established relationship with them for your future joint ventures offers.
5. Do direct mail to their customers for your product.
It’s sad. Sending out a snail mail piece to your Internet customers can create dramatic profits, but many people simply don’t do it. They refer to themselves as “Internet businesses” thinking that their whole business is online. That’s why I always use the term “Internet based business” as no business should ONLY promote online. The Internet is a marketing tool, not your entire business.
This of course creates an opportunity for you. Go to a popular business in your niche and offer to mail your offer to their clients. They can handle the list if they like, or they can let you do it all…under the understanding you will not use or keep their list for anything other than the one-time agreed upon mailing. You put together a sales package and mail it out using http://www.usps.com/netpost and split whatever profits occur above the mailing expenses.
6. Do telemarketing for them to their customers.
This is similar to the above strategy. Most online businesses aren’t using the mail. Even fewer are using the phone. You can offer to call all their customers each day, thanking them for their order…and offering them a special discount on your product if they order today. You of course split the profits with the business owner.
The concept here is you’re doing the customer a service. You thanking them and offering them an upgrade price only available now. You’ll find this can often generate 30% to 40% taking the upsell offer.
7. Include your product in someone else’s product package.
I’ve done this several times on both sides of the joint venture. You offer a product you sell as a bonus with someone else’s product. You don’t get any money from the sale, but you do get the exposure and backend sales from the offer. In most cases when I’ve done this, we’ve also shared the profits from the backend sales. I’ve done it both with digital products (an ebook bonus or mp3 audio) and physical products (my book, CD, and DVD).
The customer gets an additional bonus…the product seller gets something to help improve their conversion…the person giving the gift gets exposure and backend sales from an established traffic source. Everybody wins as long as the product being given is valuable and useful (not just a sales pitch for other items).Related Entries:
- Joint Ventures or Maybe Not
- How to Write a JV Email
- October Monthly Newsletter
- 5 Ways to Boost Profits Today
- 10 Internet Marketing Rules to Live By