The Most Powerful Marketing Strategy Available To Small Businesses
Most small business owners want to generate huge profits, with little effort and in the least amount of time. If you fall into this category then joint venture marketing is the fastest, easiest and most profitable way to do that. Joint venture marketing involves two or more businesses combining their resources to work towards a common goal, and create a win-win situation for all parties involved. It's about partnering with another business to leverage on resources that your small business wouldn't otherwise have. While it appears to be more popular with online businesses, joint venture marketing is still implemented by offline businesses, and it certainly works just as well in the offline world. In fact, one of the reasons why many industry giants like Southwest Airlines are so successful is because they implement joint ventures. Doing joint ventures has many benefits, but I'll focus on the top seven benefits for small business owners. Here are seven reasons why joint ventures are the most powerful marketing strategy available to any business, and why every small business should be doing joint ventures: 1. You'll pay for results only When you place an ad or you rent names for a direct mail campaign, you still pay the publication or list broker, whether you generate responses or not. With joint ventures, you only give your joint venture partner a cut of the profits based on the sales made as a result of the joint venture. If no sale is made then your joint venture partner gets nothing. That eliminates potential losses. How's that for low-cost marketing? 2. You'll increase credibility Your joint venture partner probably spent years building a good reputation within their industry. They therefore have influence and credibility with their clients. By partnering with them, you'll be tapping into this resource. You can piggyback on your joint venture partner's credibility and shine in their glow. 3. You'll be adding value and getting more profits By endorsing products and services of great quality, you're creating new, hassle-free profit outlets for your small business. You'll also be offering your client base a larger variety of products and services. This means you'll be adding value to what you already offer, and increasing your profits at the same time. 4. You'll increase visibility You'll be exposed to new markets that you may not have been able to reach on your own. I strongly believe in dominating a niche market. However, I also believe that you shouldn't throw business away when it comes from other industries/sectors that can benefit from what you have to offer, even though you may not necessarily target that market. By doing joint ventures you'll easily get introduced to other potential markets, and this will in turn increase your visibility in the market place. 5. You'll build long lasting business relationships Through wise endorsements, you'll strengthen relationships with your clients and increase your network of business associates. This is great for future joint ventures, getting testimonials and other marketing opportunities. 6. You'll save time and money Joint Venture marketing is a very low-cost and sometimes even no-cost strategy. This enables you to protect your cash flow. You'll save time on production and save money on operational costs by offering your clients new products and services (from your joint venture partner) that you didn't need to create yourself. You'll also slash marketing and advertising costs by sharing these costs with your joint venture partner. 7. You'll survive any economic climate It doesn't matter if there's a downturn in the economy or whether the political climate is unstable. You'll survive all seasons and a slow economy? and even during wars, joint ventures will have you laughing all the way to the bank! Joint ventures can mean the difference between mediocrity and millions in a small offline business and any business for that matter. Start today by doing simple, short-term joint ventures and you won't regret it. Copyright © 2005 by Habiba Abubakar and Emprez. All rights reserved. Note: You are welcome to republish this article as long as the resource box at the end is included fully and unaltered. Habiba Abubakar, a.k.a. The Profit Diva, specializes in helping small business owners who are struggling to increase their client base and are tired of earning mediocre profits. The tips in this article have been excerpted from her home-study program, "Joint Venture Profits For Small Business Owners." To learn more about this step-by-step program, and to sign up for your FREE copy of her revealing Mini eCourse, "The Easiest Way To Skyrocket Your Profits In 90 Days Or Less," visit http://www.profitdiva.com
Related News
|
 |
|
|
RELATED ARTICLES
What Are Focus Groups & How Do They Work?
Businesses and other organizations use focus groups to research consumer and public opinion concerning a variety of issues. Corporations look to focus groups for general help in selling their products to the world at large instead of any type of direct marketing efforts.
Does Your Marketing Plan Need Changing?
Change is good, right? Not always. But when is it bad? Is it a question of good or bad? Sounds philosophical. Maybe it is.
How to Turn Your Marketing Into a Money-Making Machine - Setting The Stage For Successful Marketing
Powerful Marketing has become elusive to many companies seeking
strong sales results and overall growth. The sad truth is that Marketing
comes across as a rather frustrating process. After all, how do you
guarantee the outcome of a campaign when it is unclear what will work
and what will not? As someone once said, 90% of Advertising doesn't
work-the question is, which 90%!
Packaging Trends You Cannot Overlook (Part #2)
Part #2
Top Ten Blunders Exhibitors Make in Expos/Tradeshows
Triple your response from expos by avoiding the top ten blunders at expos.
Turn disappointment into sales success!
Make Your E-Mail Signature File WORK for You!
You're probably familiar with e-mail signature (or "sig") files - they're the few lines of contact information that many of us put at the bottom of every e-mail we send. Most e-mail software programs allow you to create and use sig files - even the newer versions of AOL.
Take a Leap! How To Take Your Business To New Heights
Take a moment to reflect on the
current reality of your business.
Is it everything you dreamed it would be
or is it more like a nightmare?
Simplicity In Marketing
In a world that is spinning out of control; with consumers being bombarded with hundreds of advertising messages per day in a variety of mediums, it is imperative to develop an understanding of the consumer's thinking to develop an edge in advertising.
Communicating Our Attitude
The goal of successful marketing is to create long lasting relationships with your prospects by marketing your business with passion. When you're not excited about what you're doing, no one else will be either. Our passion for what we do in business is communicated through our attitude. Our attitude comes shining through in a variety of ways. How can you create an attitude that paves the way to success for you and your business?
Successful Surveys: 10 Tips for Better Results
Why would you use an email or online survey when you could simply call your clients and customers and ask for their input?
Be Prepared for Marketing
For most businesses, making a sale is all important. However, despite the amount of effort and attention given to getting sales, there is often no attention given to developing and effectively implementing a systematic marketing process. There are many things that can go wrong between the point of the customer first developing an interest in your product or service and the time of making the sale. Despite knowing this, very few businesses actually take proactive steps to nurture the progress of a sale. In sales and marketing, as in life, preparation makes a world of difference.
Trade Show Marketing ? Getting Prepared for the Big Event
With the increase in number of tradeshows being held across the world, it has become imperative to check the trade shows' credentials before you commit participation. Here are some quick tips on checks to ensure that you are not heading for a dud trade show:
How Price Gouging Can Hurt Your Business
"Price gouging" is an emotional, inflammatory term. Everyone is against it, but only buyers, angry over excessive profit-taking, proclaim it. As a seller, how can you reap the profit rewards you deserve without being accused of price gouging?
Using Business Cards as Invitations
Business card size works well
for invitations to special events.
Marketing Your Franchise Online
Do you want to successfully market your business franchise online? Here's an internet strategy you can use for your franchise opportunity.
A Tool For Selling New Ideas!
Imagine tossing a pebble into a crystal clear pond on a still day, & watching the ripples make their way to the shore. A tiny cause has a massive effect.
When The Stars Align - Choosing the Right Entertainment
Savvy event producers follow the Golden Rule: know thy audience. When they set out
to create a special event, the first thing they do is slip into the shoes of a typical
guest. Understanding their audience helps them choose the right location for the
event, determine ticket prices, and select the proper advertising and promotional
vehicles.
Color Part 1: Accuracy
Color is one of the most difficult parts of a design to show accurately to a client.
What IS the Difference Between Marketing and Sales?
There seems to be a never ending argument among marketing and
sales professionals as to what really is the difference between
marketing and sales functions. More often than not, both
business activity terms are used to describe any business
activity that is involved in increasing revenues. For small
businesses, with limited resources, there often is no practical
difference in marketing and sales functions, all revenue
generating activities are typically implemented by the same
personnel.
Two Steps to Improving Your Marketing Success
Since the human brain seems to be able to focus on only one thought at a time, it's difficult to evaluate an advertising idea from the perspective of both a marketer and a customer. That's why it's necessary to use a two-step process when developing highly effective ads, sales letters, web pages, and e-mails.
|
