How to do joint ventures without your own product
In case you are not aware of joint ventures as an Internet marketing strategy, they are the single most powerful tool available. To tell you the truth, JVs are the only Internet marketing strategy you will ever need. You can forget about learning all the intricacies of pay per click, banner ads, and all the others that just cost you money.
A joint venture is a simple, synergistic business relationship between two or more parties. Each party contributes a vital component to the arrangement resulting in an outcome that neither party alone could accomplish.
Ideally, to engage in a such a venture, you will have developed a product of your own because you make more money that way, and you are in control of the pricing and commissions.
However, what if you have not developed your own product yet? There is no need to be left out of the JV bonanza. You can easily engage in a JV even without your own product.
Here’s how to do it. Do your homework. Find an affiliate product that is highly profitable and does not have too much competition, but one that is in demand. Use all the tools at your disposal such as Google Adsense Keyword tool, Word Tracker, and others you can find by doing a search on “keyword tools”. Spend some time conducting marketing searches in the social networking sites such as Facebook, MySpace, and Twitter. Conduct searches for your keywords in YouTube and other video posting services. Find out what’s hot. Find out what people want. What are they looking for?
Don’t make the mistake of thinking you have determined what they need. People need to run five miles every day, but it doesn’t mean they want to or will spend money on it. Find out what they want. That way, when they get to your sales page they already know what they want, and you simply provide it.
Then go to some of the online product providers such as Clickbank or Commission Junction (there are lots of them out there). Find a program that meets the criteria of your research on what people want and join as an affiliate.
Make sure that the program is a two tier affiliate program. That way you have more latitude to negotiate with your potential JV partners and you will have more streams of income available to you. Many affiliate programs these days offer two tiers wherein you get a higher commission on tier one and a lower commission on tier two, which consists of everyone recruited by those whom you have recruited. It’s sort of a truncated MLM model, but potentially very profitable, especially when JVs are involved.
Now that you’ve found a hot affiliate program, you can approach a list owner with a proposal to offer a high commission as an incentive; you could even offer 100% of the tier one commission, to sweeten the deal. You would make money in the number 2 tier position and from all the derivative downline. Just imagine the potential—all made possible with joint venture marketing.
So, don’t despair if you have no product of your own to offer in a joint venture arrangement. Your value will be to have done the discovery, finding the product, and creating a sales campaign. To learn what’s involved in preparing a joint venture campaign, you will want to read this article: Are you ready for a joint venture?
Now here’s another thing to consider about using someone else’s product for a JV. You should also look for an affiliate program that has all the campaign material already prepared for you in the form of email sales letters, sales pages, and even additional profit centers in the form of upsales, sidesales, and downsales. This could save you a considerable amount of work.
If you are already doing affililate marketing, why not supercharge it in a JV arrangement? There no need to slog along using traditional Internet marketing methods when you could create an avalanche of sales using the power of joint ventures.
Here’s one last parting thought for you to consider. You could become a JV broker in the sense of finding someone who is already a successful affiliate and putting them together with a list owner. Let them split the profit, and you take the second tier affiliate position.
If you have already figured out a profitable niche and have a product to promote, why not get started in a JV. Go to the Joint Venture Application form. Download it, complete it, and submit it. You will soon be on your way to a joint venture bonanza.
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