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Okay guys, first question:
How do you go about contacting a big-time JV Partner? I'm talking about people who probably get asked multiple times per day or week about promoting products. How do you go about getting through and standing out among the noise to at least get the offer looked at? How about a JV proposal sent via FedEx?
Hey Lee,
I think that's the million dollar question ...
Shipping major potential JV partners a physical product via FedEx is a great way to build trust and show them that you are serious.
A JVNotifyPro member named Gabriel Howes has developed an incredible book on JV's entitled "Ultimate Joint Venture GOLD." The book is targeted at offline joint ventures, but almost all of the information can be applied online. That's one way to look into it ...
Another way is by starting a topic and getting everyone's input on what they have done to attract major JV partners. I'll post some of my advice on this, but in all honesty, networking is the single best way to have successful JV's...
When you make personal contacts with other marketers before you present them with an offer they are far more likely to promote something than if you just present it out of the blue.
Meeting other people can be done by simply creating small talk, offering to help them out with something, etc. Do some research and get familiar with what they are doing and offer them something that they can use ... once you have done this, people will be far more likely to help you out.
Now if you don't have the time to make friends with someone first, then here are a few suggestions I have:
1. Make sure it's a killer product. If you have a killer product and are truly passionate about it your enthusiasm in your product will show in your proposal.
2. FedEx a physical product to these people. People don't throw out physical products because it makes them feel guilty. They will look at it -- but it's easy to delete an e-book (it doesn't cost anyone anything).
3. Send all of your marketing material with the physical product. Print out your sales copy from the site, send any promo emails you have, any testimonials, etc. If they can see that there isn't much work for them to do, but they will be offering a great product to their customers and making money, it's hard to say "no".
4. Tell them 'what's in it for them'. This is one of the top rules in writing sales copy to sell your product ... now why wouldn't you 'sell' to your JV partners. I see people overlook this far too often. Tell them exactly what they get, don't simply tell them how great your product is.
Those are a few quick guidelines to start off.
Let's get some more pointers to increase response from other JVers in here. What else are you doing to get the "big guys" to notice your products?
Look forward to hearing your responses.
To your sexcess,
Sam
www.businesssexcess.com
Yes, if I get the right answer, I'll make a million bucks ;DQuote:
Originally Posted by Sam Heyer
I'll look into the book. In my case, I don't have a physical product, but it's also not an e-book.Quote:
Shipping major potential JV partners a physical product via FedEx is a great way to build trust and show them that you are serious.
A JVNotifyPro member named Gabriel Howes has developed an incredible book on JV's entitled "Ultimate Joint Venture GOLD." The book is targeted at offline joint ventures, but almost all of the information can be applied online. That's one way to look into it ...
Hopefully people will just reply to this one! ;)Quote:
Another way is by starting a topic and getting everyone's input on what they have done to attract major JV partners. I'll post some of my advice on this, but in all honesty, networking is the single best way to have successful JV's...
I realize this, and I sincerely do want to make contact and become acquainted with other marketers before I even think about asking for a JV. However, as you stated, I have a time-crunch factor. I don't mean to seem impatient, but the launch is coming sooner than later.Quote:
When you make personal contacts with other marketers before you present them with an offer they are far more likely to promote something than if you just present it out of the blue.
Meeting other people can be done by simply creating small talk, offering to help them out with something, etc. Do some research and get familiar with what they are doing and offer them something that they can use ... once you have done this, people will be far more likely to help you out.
These are some great insights!Quote:
Now if you don't have the time to make friends with someone first, then here are a few suggestions I have:
1. Make sure it's a killer product. If you have a killer product and are truly passionate about it your enthusiasm in your product will show in your proposal.
2. FedEx a physical product to these people. People don't throw out physical products because it makes them feel guilty. They will look at it -- but it's easy to delete an e-book (it doesn't cost anyone anything).
3. Send all of your marketing material with the physical product. Print out your sales copy from the site, send any promo emails you have, any testimonials, etc. If they can see that there isn't much work for them to do, but they will be offering a great product to their customers and making money, it's hard to say "no".
4. Tell them 'what's in it for them'. This is one of the top rules in writing sales copy to sell your product ... now why wouldn't you 'sell' to your JV partners. I see people overlook this far too often. Tell them exactly what they get, don't simply tell them how great your product is.
1. It is my sincere belief that the product I'll be offering is top-notch and, from what I've researched, nothing like it is available anywhere online. It is going to help a lot of people improve themselves. Obviously, I hope to maximize my earnings with it, but esoterically I think the product has the potential to revolutionize the niche I'm going after. That being said, the product isn't finalized and I hope to mold it with some help from the good folks here!
2. Again, no physical product, but I can certainly Fedex a letter, the sales copy, facts and figures, and maybe even a video tape demonstration of the product in action or something like that. Thanks for the idea!!
3. See #2. Fortunately, I already have very powerful testimonials from our users. I hope it helps push the door open!
4. Duly noted, and if I'm right about #1, they will be in on the ground floor of a revolution (or maybe just make a good amount of money) ;)
I look forward to hearing more responses! Sam, thank you so much for your outstanding insights!Quote:
Those are a few quick guidelines to start off.
Let's get some more pointers to increase response from other JVers in here. What else are you doing to get the "big guys" to notice your products?
Look forward to hearing your responses.
To your sexcess,
Sam
www.businesssexcess.com
Lee
Hi Lee,
Sounds like you are well on your way bud!
One thing I like to do is go for the "little-guys" on JVs.
There are tons of marketers out there who have smaller
lists, but can really bring in some sales because of their
close relationship with their subscribers.
I find great success with less known marketers because
they too are eagerly trying to grow their business, and
just "need a chance"!
While the big guys inboxes are flooded with Jv offers,
the mere mention of "JV" to a listowner with 500-1000
subscribers and you've got their full attention.
(Great tip Sam! FedEx DEFINATELY gets your foot
in the door, and at least gets your product looked
at! I know that from experience, and I think it's
very effective because only a select few ever do it!
That's million dollar advice right there Sam, thanks!)
I know we all want that one "dream" JV partner, and
we'll get them! But in the mean time I find it useful to
always be moving forward with the "sure thing" by
approaching small list owners.
Hope this helps!
Ken
Thanks, Ken!
Partnering with the "little guys" is definitely a large part of the plan, probably about 95%. I figure if I can get 1 or 2 heavy hitters, I can really put something into overdrive.
I have 2 "big guy" pitches next week, and it was a matter of calling them and meeting in person. I am hopeful, but to be honest, it's going to be an extremely difficult sell.
Hi Lee,
Well my best advice there man, is just to be yourself - and the rest
will come naturally. :-)
I'm curious myself as to what you have going, something exciting?
Let me know...I'm sure the members here can give you some
very useful feedback, and you may just collect some new partners. :-)
To Our Success!
Ken
Hi Ken,
Thanks for the encouragement!
I promise to let you all in on what I have going on as the launches get closer. Of course, I should get some buzz and anticipation going, right? So here's a sampling of what I have in the pipeline:
1. A fitness membership site that will showcase a "feature" that is not available on other fitness sites anywhere (that I'm aware of). Luckily, I already have an "in" with this industry, so getting big names here won't be a problem.
2. A software program, currently in development, that is an off-shoot of a popular Internet Marketing product. I have an appointment to speak with this "guru" next week to straighten out the details. If we come to an agreement, it will be huge. If he doesn't like what I have, I will have to re-write the program. It won't be as "huge" then, but could still be quite profitable. If the guru and I move forward together, you all will be the first to know, and you will definitely want "in" on this!
3. An Internet Marketing "event" unlike any before it. While this idea I have is tremendous, it unfortunately requires the help of some big names in order to be as successful as it could be. Plus, timing is of the essence, because it is tied to another "event" that will be starting in a week or two. This project is definitely one in which I need all the help I can get, big or small (are you listening, Mike? ;) ) Either this project will be wildly successful, a massive flop, or never-launched. I will be pitching this next week to another "guru." If anyone here would be interested to know what it is, you can contact me, but I will need an NDA before proceeding.
As you can see, I'm looking to make 2006 a very profitable year!
Lee
Lee,
I've mostly just done offline deals before, but these are some things that have always helped get things started - and I think they apply just as much to online JV's as well:
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1. As mentioned previously, build rapport. Get to know your prospect - as a friend, if possible. This is by far the most overlooked AND powerful tactic around (building relationships).
It's so obvious, yet so rarely done...
2. Find out what they really want - and believe it or not it's NOT always money...
The biggest mistake I've made is assuming that everyone partners up for the money. Nothing could be further from the truth (offline, at least).
In fact, some of the larger firms are very concerned about KEEPING the customers and clients that they already have.
If your product or service gives them the edge over a competitor, that will in most cases be a much more powerful motivator than simply a commission.
Some people need a more "lively" list. So instead of just coordinating an endorsement - why not HELP them put together a fun, non-vested event that benefits their list members?
This could be in the form of contests, "lotteries", group projects, etc. Be creative, and it WILL pay off in the long-term.
This classic rule applies just as much to potential JV partners as it does to customers:
"Find out what they want - give it to them".
3. Why not promote THEM first? One of the easiest ways to make friends with someone is to write an article about their business and get it published - and not just on "ezinearticles.com" - go find a real publisher and work it out with them.
(Alot of "big" publishers are in desperate need of good content)
Your byline will still drive traffic to your site, but it will promote theirs as well. Most importantly, your potential partner will begin to see you as an ally.
I recently did this for a virtual legal assistant firm in NY that caters to the same group of attorneys as my client.
We now have a solid, long-term partnership with that firm, and cross endorse eachother to each client that comes through our businesses - and it's great, because that firm does quite alot of volume and has over 50 full time "virtual assistants".
This sort of arrangement is very powerful in the legal market, because attorneys basically live by referrals, and would much rather be sold something via a service they already use.
This all started because we decided to do someone a favour...
4. Use the Phone. But prepare them for it first - also, remember that step 1 (rapport) comes first, if at all possible.
Send them an email asking where you can Fed/Ex your product and a proposal - as well as what would be a good time to call.
In your email, state that unless you hear back from them, you'll call at such and such a time to follow up.
When you call, be friendly and firm. You are not "below" them. They started out the same way you did.
5. Turn Rejections into Referrals. You WILL get rejected - several times - but you must understand that it's not necessarily because of your product, or your approach.
It's often more about timing - which you have no way of knowing in most cases.
Now, it's also important to note that "No" doesn't always mean "No"...
What you'll often find is that people will turn you down (especially larger firms) - but then they'll watch you like a hawk.
If they see that you and your product are for real, and that they could turn a decent profit by working with you, then they'll likely contact you and go from there.
However, it doesn't always work that way.
When "No" does mean "No", what you can then do is turn the tables around and ask for their advice...
As in, "What would you do if you were me? Do you know of anyone else that I should contact - whose company would be a good "fit" for my product?"
I have never once run across someone that didn't have time to dispense advice after they say "No".
It's a part of human nature to be able to feel good about yourself for helping the "little guy" - and what you'll often find is that people will actually go the extra mile to help you if you are sincerely asking for their advice.
In some cases, you've simply met a very helpful person. In other cases, you're leveraging their "ego".
Either way, in most cases they will actually give you a referral - or someone that they know that you can contact about your JV.
This can be a very powerful playing card, because you will be "borrowing" their rapport with that new contact when you approach them:
"Hi, this is Bob Jones. I was just talking to a friend of yours, John Green, about cross-endorsing products. He was interested, but he actually thought that your service would be a better fit..."
This approach will get you alot further than cold-calling...
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Well, I hope that helps, Lee.
Oh, yeah, I forgot one of the most important tips of all:
GO BIG from the start. I'm not sure how well this applies to the "internet marketing" world, but I KNOW that when you're dealing with other niches, the "big guys" are almost always more receptive to JV proposals and integration strategies.
The smaller businesses are very skeptical, for a number of reasons.
Hint: It's a good sign if the business in question has a "partners" or "business development" section or contact person on their website.
Good luck,
-Chris Rempel
Thanks, Chris! I enjoy your blog, BTW.
Incidentally, I spoke with one of the gurus today on the phone. Very nice guy and easy to talk to. He is receptive to my venture and will evaluate my software today. If we're able to strike a deal, it will be a win-win situation for both of us. I hope to be a "success story" on your blog, Chris!
Lee
That sounds great, Lee.
Let us know how it goes - and I'd be very glad to feature your story on my blog.
;)
Cheers,
-Chris
