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Hey guys,
I am new to the JV side of things and would like to know how to best go about starting an JV. I have been testing my product and sales page for 6 months and have zero returns. Would I be better to just offer a sweet deal like 90/10 or something like that along with a plug in my book for their product?
Thanks, Shawn
Hey Shawn,
Did you mean that you haven't had good conversions on your salespage for 6 months?
Because in that case you definitely shouldn't approach JV partners yet as you only should with a proven, well-tested product & sales process...
Is that what you meant?
Kunj, I believe Shawn is saying that she has not had any refunds ... not a lack of conversions.
Cheers,
Mike
That's right! I have issued zero refunds. The sales page is converting at about 1 percent. Does it need to be higher before I talk jv?
How expensive is your product and what kind of traffic got you that 1% conversion rate?
A 1% conversion rate might be acceptable for a high ticket product (e.g. $1997), but not so much for a low ticket product (e.g. $47).
As for traffic, warm traffic (yes relationship) converts better than cold traffic (no relationship).
You should consider getting your sales copy critiqued, or even re-written. 1% generally isn't good enough to attract JV partners. Getting it up to 3-5%, and adding some stuff on the back-end, would definitely attract JVs.
As for commission rate, it depends on a number of things. Generally, 50-75% is acceptable, but again, it really depends. It's hard to say without knowing more about your product.
I don't want to get in trouble, but it is a gaming system DVD drive repair guide. It is 19.99 on the front product and 29.99 on the back products. See I have spent the last 6 months testing the sales page building links and making sure I would not get returns on the product. Like I said no reruns, 1 percent conversion on the front, and since I have added the how to videos on the back they have converted at 100 percent. Does help clarify?
Curtis beat me to it. For a lower priced product you will want to get to 3-5% if possible.
Your back-end process sounds strong. Do you have a lot of JV support in place? Meaning, you will want to make it extremely simple for them. Ideally you can provide them with converting e-mails, and even custom landers if possible. Any type of *tested* promotional materials are great to have in place so it is as plug and play as possible for them.
You guys with more experience on this thread, for a product with a $19.99 price point that is converting so well on the back end, do you think it would be more enticing to offer a 100% on the front end to JV partners? This could make it more enticing and Shawn will still get the buyers list and back end. Feel free to rip that idea apart =D
Chad,
I like your thoughts. That may not be a bad idea.
Hey Shawn.... just coming from the CPA marketing world, there have been a few successful offers (non rebill or anything shady) that cost the user a one time fee of $49.95, but would actually payout to the affiliate at $60. These offers converted well and ran for quite a while. My understanding is their backend process was for high ticket items that converted well. The user even had the option to rebate 90% of that $49.95 and the affiliate would still get a $60 payout. (most people dont take advantage of rebates though)
Chad,
How do the rebates work?
