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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?
For these offers in particular it would simply be your plain old mail in rebate. This was for a CD/DVD sent out to the buyer, so they'd need to send back their upc code like any other rebate. If memory serves me correctly, it was about a 90% rebate. Again, they are banking on the fact most people don't use the rebate option.
I like the idea of a rebate program for smaller selling items. You can test to see if it will work and you do not have a large pain of constantly giving rebates.
When you want to do JV, it is really SERIOUS matter & getting higher conversion rate for your product is critical. Like some other members have suggested, you can get someone to look at your website, improve the website, headline, sales copy etc to optimize the conversion for you.Quote:
Originally Posted by Shawn Gourley
Because once you start to approach JV, serious JV partners usually have strict criteria in choosing the affiliate program to participate. The hard truth is: everything of your affiliate program must be Top Notch to be able to get good quality partners on board. It is FAIR. Just imagine if you are a someone with Huge Responsive Subscribers, you would NOT want to send *junk* to your subscribers also.
Make sure your site, product, affiliate program are of very good quality (if possible, make it Top Notch) before approaching JV.
Hope it helps.
Regards,
Bill Gratton
JV Manager of Mr. Kishore M
Dood!!!! Sign me up.Quote:
"A 1% conversion rate might be acceptable for a high ticket product (e.g. $1997),"
Show me a 1% $2000 product and I'll market it until it's blue in the face.
;D
But being a dick aside... yes, you have a valid point. Just a generic "my conversion is" is an empty statement without first qualifying it (industry, price point, traffic source, rebill or one time, etc)
LOL..give me a break Rob...it was the first number that came to my mind :P
Though I'm wondering if JW got anywhere close to 1% for the recent PLF launch. He did do $3.5M in sales...
You guys are to funny. Alright I am reworking my sales page to see if that will help bring my conv. rate up. We will see how it goes from there.
Thanks
Shawn,
I'm a copywriter. I'd be happy to help you out with the sales page. Gratis, of course.
schaeffer dot danielle72 at gmail dot com.
-Dani
Hi Shawn,
Other things that I like to see from a JV perspective are:
1. Will the person reciprocate and promote my product back their list (provided that it's a good fit)
2. Lifetime cookies (this is a big one for me)
If I were you and you're approaching the bigger list owners in their niche, why not offer to a "content only" training call for their list, with a CTA at the end to get something free, with a URL that includes an affiliate link for that list owner. That way, you're providing value to them and their list, and have a chance to build yours and the list owner is getting sales from the traffic as well.
Good luck,
Justin
[quote=Danielle Schaeffer ]
Shawn,
I'm a copywriter. I'd be happy to help you out with the sales page. Gratis, of course.
schaeffer dot danielle72 at gmail dot com.
Thanks!! Email me at admin@360DVDDriveRepair.com
