Joint ventures means cooperating rather than competing.
In joint ventures, you get partners to help you boost the products or services you are offering. But instead of trying to outdo the ones related to your business, you get into business with them.
A win-sin situation for both of you considering the fact that you share in all the expenses and getting more and targeting a wider market in the process.
Although this is the basic concept behind joint ventures, many people do not fully comprehend the benefits it can offer. Oftentimes, they get wary in the initial attempt and would rather not engage in one.
Joint ventures through affiliate programs.
This is one of the most common joint venture kind found over the Internet. But being the most widespread does not make it the most beneficial.
In affiliate marketing, the focus is more on recruiting customers to be the sales force of the products they have bought. Affiliate programs are great means of achieving selling power and reaching out to more people with the use of the Internet. What one can gain offline cannot match to what it can get online.
But then many people have already made numerous profits selling products or service that are not their own and do not ship to the customers themselves. As much as 90 percent of total sales are made through affiliate marketing though.
Joint ventures is getting publicity through contents.
This is one of the simplest forms of joint ventures. You get to offer your knowledge in exchange for the free exposure and publicity your business needs.
An example of this is article writing. By allowing other publishers to reprint and publish your articles, you reach far more customers than you could by having it put mainly on your site. The persons reached are the same ones who would not have thought of going to your site to check you out.
Just think how your articles will be distributed to a bigger audience. And think how your contents are being exchanged, used and added values to.
Joint ventures is buying and selling of reprint rights.
You can gain profits on your information products, the rights to sell your products to others and form sincere supports found within your information products.
Today, information is the most profitable product anyone can offer and sell over the Internet. A lot of business owners are purchasing products that have reprint rights. They will then resell those products. And when opportunity calls for it, they also get to resell the same reprint rights to others.
In addition, you can also sell reprint and distribution rights to content-rich products you have created yourself.
Joint ventures is giving out win-win endorsements.
Giving and getting endorsements are precious ways of leveraging your unique expertise. Although giving out a free report or e-book to your visitors is a brilliant, it is important not to stop there.
Offer your customers commission on sales that is made through their market contacts.
Think about endorsed email advertising. You can offer to trade mailings or endorse products that you like. Offer commissions on sales to those who can promote your product by mailing your information to their lists.
Consider some don’ts in joint ventures. Do not try to endorse products you do not have any idea about or do not believe in. Do not also overuse your promotions just to earn profits.
Giving testimonials for products you like is one of the best linking strategies you can apply. You will receive extremely visible links to your website on popular pages. And people will want to contact you about your testimonials or even visit your website just because of your testimonial.
Joint ventures as a whole.
Joint ventures work its best when each partners share give something that the other do not have or cannot afford to. This can be as simple as web traffic or publicity. Or more complex things like money, fame and connections.
Before getting into joint ventures, you must first identify your greatest strengths and weaknesses. The more successful joint ventures depends on having something to offer and that certain business that needs what you have. On their part, they will give you what you and your business needs.