Most internet marketers run their business from home as a sole trader. The nature of the business makes this far and away the best way to do it, especially at the start. However, this can be a very insular way to live and work. One way to change this solitary existence is through the use of online marketing joint ventures. As the name suggests, this involves working with another marketer sharing the work in some way and sharing the profits.
Probably the most commonly encountered application of joint venturing is when one marketer with a great product but a small opt-in list links up with another marketer who has a large opt-in list. The product is offered to the longer list to the benefit of both parties. It’s a great way for a relatively new marketer to reach a much larger group of potential customers by using the list of an established player in online marketing. The more established partner benefits by having the product and sales material provided by the newcomer.
Joint Ventures are a powerful tool for expanding your business as well as making a pleasant change from ploughing a lonely furrow all the time. Many new internet markers will be a little overawed when contacting an established marketer about a joint venture. There is definitely no reason to feel that way. If your product is good and your offer is good most marketers will be only too happy to share the project with you as they will be earning from work which will have been mainly done by you. Their contribution is to make available the opt-in list that they have been developing, probably, for several years.
Many online marketing joint ventures are forged between marketers who already know one another either face to face or on the internet. Sending out lots of emails to people you don’t know in the hope that someone will make a positive response is highly unlikely to get you the result you want. There is also the possibility that you will be branded a ‘spammer’, which is definitely not what you want. It is far better to seek out a couple of marketers that you think might be right for the JV you have in mind and build a relationship; subscribe to their newsletter, visit their website and blog; take an interest in what they are doing. When the time comes to make your approach about a JV they are far more likely to be receptive as you won’t be coming at them from out of the sun.
In your approach, don’t overdo it, but be complimentary about their website and newsletter, etc. By getting to know their work you will be able to comment on the things you particularly like about their website, for instance. You can learn a lot about a person by the way they conduct themselves online and how they run their business.
Always be on the lookout for potential JV partners. Working with other marketers gets you away from the single-minded approach which sole traders often have. Online marketing joint ventures can be very rewarding financially too, both in the growing of your list and the sale of your products.