Your First JV
JVs…Joint Ventures…Strategic Alliances…oh my!
You’ve probably already been told that joint ventures are the fastest way to grow your business.
That is 100% true. The quickest to sell your product is to find out who already has your customers and get them to split the profits with you through an endorsement. The fastest way to build your list is to figure out who already has your subscribers and how you can get in front of their audience. A risk-free way to create your first product is to interview an expert who already has credibility in the marketplace.
Build your business using other people’s information, other people’s subscribers, and other people’s skills.
But most beginners have a horrible time getting their first JVs going because they go about it in totally the wrong way.
They send out an email to all the top marketers saying, “Would you be interested in promoting my product?”
Sorry. No. I wouldn’t be interested.
Except they don’t receive that rejection email back. All they hear is silence. Worse than being rejected is being ignored.
I remember the first time I asked Julie, my wife now, out on a date. I asked her if she’d like to go out with me. Instead of responding with a yes, no, or even a maybe, she ignored the question and changed the subject. After forcing the issue and asking again eventually she responded with a, “Sure, I’m not afraid to go out with you.”
But let’s put my personal problems aside for now…
If you send out the normal “Would you like to promote my product” emails, the most often response will be silence. People won’t respond.
They get those emails every single day. And it’s almost as bad sending out your product to them in the mail. Do you realize how many products most business owners with large audiences already receive?
You get lost in the shuffle.
We have to think like a marketer when you’re going after JVs.
Your audience here are busy business owners who already receive JV offers constantly. They’ve heard all the pitches about how much money they can make with your product.
How will you stand out as unique in this competitive marketplace?
Let’s say you’re starting at ground zero with nothing. You don’t have a track record or other relationships to build off of. Obviously once you have some successful JVs under your belt, you can use those as leverage to keep building your online empire.
Just like any other prospect, your potential JV partners are tuned into WIIFM (What’s In It For Me?).
What’s in it for them?
What can you give to the list owner that’s unique…that they’re not getting anywhere else?
They already receive a ton of emails to promote products. All of them talk about how much commission they can earn. All of them offer a free copy of the product (if you’re not offering this you’re not even in the market).
What aren’t they offering?
The first place you can stand out is with real numbers. For example, no one wants to be your test dummy. What conversion rate is your site getting currently? If you’re not sure, run some tests and make sure you’re tracking numbers.
Why will their audience appreciate them for recommending the product? Show that you’ve really done your homework by subscribing to their list, reading their blog, and knowing how they normally operate.
In many markets, just having these real numbers will put you far ahead any other competitor you have.
What about the really competitive markets like internet business?
You may have to go further. Others are also sharing their numbers, so how can you give more? What else does that publisher need (WIIFM)? If they have a newsletter, maybe they need article content which you could provide them. If they have a membership site, they definitely need content for that. If they’re a large publisher you could offer to develop exclusive content just for their group.
Maybe they’re not interested in promoting your first product. Perhaps it could simply be included as a free bonus with a product they’re already selling.
You may be thinking, “But then I won’t make any money!” So what? You would be getting exposure and building your name in the market by being attached to their product. Your information would be put in front of thousands of people you never would have reached without a large advertising budget.
Another backdoor strategy is to secure an interview with them. Come up with a good topic and find questions related to the topic. During the 30 minutes to an hour you’re on the phone with them you’re building a relationship with them which can later be leveraged into other opportunities.
Think long-term instead of immediate profits for your first few JVs. What can you provide to them or give to them to improve their business first. This old statement from Jay Abraham comes to mind, “Give first and prove your worth.”
This applies to customers. It also applies to JV relationships.Related Entries:
- How to Write a JV Email
- The Money Is In Your Email List
- Customer Service – Or Customer Annoyance?
- Support Our Troops?
- Contest For a Free Copy