Joint Ventures and Why They Should Be Your First Source of Visitors | Traffic Method #4

No Foreplay – the answer is because it’s easy traffic from people with a vested interest in helping you, who are you are also helping. If you start with joint ventures you may never need any other type of help again. This isn’t the case for everyone, but it’s the potential advantage is too big to ignore.

So, what is a joint venture?

Contrary to popular belief, it’s not when you kiss a guru’s ass for a few months, at the end of which they mail your offer to their list. That’ arrangement is an attempt to recruit a mega-affiliate, and a sloppy one at that.

No.

A  joint venture is when two or more businesses pool their resources for the mutual benefit of each other and their clients. They don’t have to be internet marketers, or in the same industry, or marketing to the same audiences, or even online. Here’s an example you might recognize from the real world.

Some pizza places, local or national, partner with DVD rental companies. The pizza shop would offer coupons to the rental places, which would trigger a purchase of a DVD rental.

Why would they offer this? Because (sadly) DVD and a pizza has been one of a few standard variations on the dating theme since the late 90s. They’re also morphing into family night entertainment (less sadly – at least people are starting to understand the value of sharing a meal again, even if it is in front of a TV.)

You might not think a pizzeria and a DVD rental place would have a good cross audience if you didn’t realize that the two purchases often coincide. And yet, this is an example of  great joint venture.

The rental store may also offer coupons to the pizza place, but it might reciprocate by giving free ad placements, or offer free tastings if they were located next door to each other. Each company is getting something out of the deal, something more than one-way access to clientèle in exchange for monetary compensation. Both companies have raised the perceived value of their products versus a competitor’s product, by bundling or sometimes from the mere association.

Haven’t you ever said to yourself, “I like this gas station and it’s more convenient, but I’m going to go to the one down the street because they have a store/pay at the pump via credit card/coupons to the car wash next door” – even if it meant you were going out of your way?

I’m sure you can see the applications of this online. If you have a resume writing service, wouldn’t it be great if Monster gave a discount code of it to each person who signed up to their site? Would you be willing to make a little less per sale if you didn’t have to incorporate the price of getting the customer?

Of course. Who doesn’t like increased profit when quality isn’t suffering?

What comes next, of course, is the realization that joint ventures are by no means easy. People want to partner with those they can trust or who they are friends with. Which means they want a familiar name, someone they have a relationship with, a person whose background they’ve checked into, who won’t disappear overnight, an established business person.

So 1- How do you find these partners, and

2- How do you get them to see how trustworthy you are?

We  will have to go over that one day soon.

For today, look at current and past clients, and your professional contacts. Sort them by how well you know them and brainstorm how you could help each other. Then contact them to set aside time to chat. And make a pitch that emphasizes the benefits to you, them and both your audiences.

Good luck. If you get this right,  you’re sure to  be successful.