Marketing -  Joint Ventures The Smart Way

Do you have a single interest? Probably not. And neither do your customers. So here's how smart marketers profit from that.

Never think of your customers as single interest people, as if their sole interest in life is our particular type of product. That narrow approach can be costing you dear, particulary in your joint ventures.

Your customers are living, breathing human beings who laugh, cry, love, hate and have other problems and interests far beyond those your products are designed to solve.

So have you considered the advantages of joint ventures? This is an excellent, zero cost, way of bringing new customers to your web site.

To be successful you need to pick a joint venture partner who has a target market related to -- but not directly competing with -- your internet business. That way, you will be able to offer your potential partner a win, win deal whereby everyone benefits, including the customers of both businesses.

For example, let's suppose you sell health products. Who do you think would be more agreeable to your suggestion of a joint venture: a directly competing health product seller or the owner of a sports business?

Probably the sports business owner, because you can show them a mutually advantageous deal. 

Why is this?

Because, most people who are keen on sports are also very likely interested in maintaining good health. This is particularly so if you can skew your advertising towards emphasizing the benefits of your product to a sporty person. A good example would be if it can be shown to increase stamina. Alternatively, you may be able to offer healthy eating advice. Perhaps a recipe book of meals that are not only nutritious but tasty.

Another example, would be a hair salon, who could benefit from a joint venture with a nail salon. It follows that people likely to want to take care of their nails will be just as interested in keeping their hair looking good.

The ideal joint venture partner would be a business with a web site and an e-mail list of customers. However, if you have a business that is essentially local, such as a hair salon, you could have discount vouchers cheaply printed for both businesses, which you would both hand out to your customers.

Even if you don't have a web site, be sure to collect the e-mail addresses of both existing and potential customers. That way you can e-mail them, at zero cost, with special offers to smooth out the inevitable troughs in business activity. 

The only limitation on the potential of joint ventures is your own imagination. And that should be limitless! 

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