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Thread: Joint Venture Marketing - How to Use Selling Triggers to Increase Response

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    Joint Venture Marketing - How to Use Selling Triggers to Increase Response

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    Joint Venture Marketing - How to Use Selling Triggers to
    Increase Response


    by: Gary Huynh

    Words: 959

    Joint ventures are one of the most effective ways to grow
    your business. Yet, like many of the most effective
    marketing strategies, when done improperly, your results
    may often be poor.

    When you try to sell your product, you use all sorts of
    conversion tactics such as building a relationship, getting
    your benefit across, using deadlines, exclusivity and calls
    to actions.

    So it would make sense to follow the same guidelines when
    trying to attract joint venture partners right? Your main
    goal is trying to get people to take the action you want
    them to. People are all the same. They respond to the same
    triggers. It doesn't matter if they have years of
    experience in guerilla marketing or if they're a newbie.

    Let's examine some of the trigger points that will increase
    your success in landing joint ventures:

    1.) Building a relationship

    People are more likely to work with someone they've worked
    with before. They're also more likely to buy from someone
    they've bought from before. That's because trust is the
    most important facet of any relationship. If you approach
    me and I have no clue who you are, then I automatically do
    not trust you until you do something to build that trust.

    You can build trust in a variety of ways. One way is to
    refer to a mutual business partner. Let's say I've done
    business with your friend Jeff. I trust Jeff because we had
    a good business dealing. If Jeff endorses you, then you've
    automatically gained my trust. So go contact Jeff and have
    him contact me. All you have to do is ask Jeff.

    Perhaps you don't know anybody in the business. That's when
    you use the law of reciprocity in your favor. This law
    states that whenever you do something nice for someone,
    they're more likely to reciprocate. For example, if you
    provide good information to prospects for free, then they
    feel like they owe you something.

    You can do a variety of things for potential jv partners.
    You can create marketing material that they can use for
    their affiliate program. You can create screencam video
    tutorials of their products for them so they can give away
    to their customers.

    It will take more work to do this than simply sending out
    an email. If you've researched your potential jv partner
    thoroughly, then you'll know the volume of business you'll
    gain will be worth your effort. Even if this jv prospect
    doesn't work with you, he'll more than likely refer you to
    his other heavy hitter friends.

    Obviously, what I've outlined above may seem like a lot of
    work. You may just be happy send form letters to as many
    people as possible asking them to promote for product for a
    split of the profit. You may get a few interested people
    based on the volume of emails you send out. If you use the
    brute force tactic, you'll surely run out of prospects to
    email eventually.

    Now that you understand the importance of building a
    relationship, let's look at the second trigger.

    2.) Exclusivity

    People like to feel like they belong to a special group. If
    you tell them that they were specifically selected based on
    some criteria, they'll feel special and will more likely
    respond positively. Stroke their ego a little.

    Here is an example of this method:

    Dear potential jv partner,

    I read your article on "xyz site" and thought it was very
    informative. I like how you pointed out blah blah blah.
    Based on your article, I felt you were an authority on "xyz
    topic". I have a product related to this niche and I'm
    seeking experts in the field to promote my product for a
    split of the profits.

    or

    Dear potential jv partner,

    I'm contacting you because you were recently featured as a
    top affiliate for 'xyz product'. I have an exclusive
    invitation only affiliate program and I'd like to invite
    heavy hitters such as yourself to join. I'm only accepting
    about a dozen partners at this time so that you have the
    benefit of less competing partners.

    3.) Perks

    Many people do not know the difference between an affiliate
    and a jv partner. This difference should be noted because a
    jv partner can bring you so much more business than an
    affiliate.

    When you have an affiliate program, your affiliates are
    commissioned employees. In a sales organization, people who
    make more sales volume per given month are elevated to a
    higher commission level. People with spectacular selling
    skills are highly coveted. They are an asset. If they're
    not valued then they will jump to another opportunity. Why
    should they work for you when they get more benefit for the
    same amount of work elsewhere?

    Your joint venture partners should get perks such as higher
    commissions, exclusive marketing tools, a head start etc.

    Giving away your product to a potential jv partner for
    review is the least you should do. That's the bare minimum.
    I still get joint venture emails where people do not even
    offer to provide the product for review. It means they have
    not done proper research on me.

    What I've listed are three ideas to keep in mind when
    contacting joint venture partners. There are many more
    triggers you can use to increase response to your proposal.
    Just look at the same triggers you use when trying to sell
    your product.

    As I've mentioned before, people all respond the same way
    to certain emotional triggers. Utilize them every chance
    you get to obtain a higher response from your marketing
    efforts.

    Gary Huynh has been working full-time online since 2003 as
    an information publisher. He provides tools and tips to
    help fellow entrepreneurs succeed in marketing. Read more
    of Gary's articles at:
    http://www.sixfiguremarketer.com

  2. #2
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    Re: Joint Venture Marketing - How to Use Selling Triggers to Increase Response

    Gary,

    Contact me. I want us to put together our collective knowledge on JV's into a product.

    Reed

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