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You may have heard of joint venture marketing, It's used frequently by savvy entrepreneurs to increase profits and add loads of prospects to their customer list.

So what is joint venture marketing (or j/v)?

Speaking at the Information Marketing Boot Camp (http://www.dc-infobiz.com), Joint venture expert and entrepreneur John Alanis describes it as "a mutually beneficial agreement to sell similar products or services to customers or prospects."

You approach another entrepreneur and ask them if they'll endorse your product and allow you to mail to their customer list.

In exchange, you give the entrepreneur a cut of the gross profits, usually anywhere from 5 to 25 percent. Or you could arrange a list swap.

J/V marketing allows you to quickly add hundreds or thousands of names to your customer list.

The first step is to find a suitable joint venture partner.

Where do you look?

Try your own customers first. Send out a letter or email announcing you're looking for a j/v partner. Be sure to tell them you're looking for a partner who sells similar products to your own. And ask how many customers they have on their list. Obviously, the more, the better.

Another way of to find j/v partners is in trade publications. Look at the advertisers. You'll probably find a few that sell similar products to your own. Contact them by phone or letter and explain you'd like to create a joint venture with them.

Also look in the Standard Rate and Data Service (SRDS) (http://www.srds.com). This directory has every commercially available mailing list, the list owner, etc. Most larger libraries will have a copy of SRDS, although it may be a year or two out of date.

As well, check out the Oxbridge Directory of Newsletters (http://www.mediafinder.com) It's an excellent source for potential customers from newsletter subscriptions. It's an expensive directory to buy, but ask your library if they have a copy.

YOU MUST BE ENDORSED The most important thing is you must have your fellow entrepreneur include a letter of endorsement.

He has already established a relationship with his customers. You haven't. If his customers are satisfied with his product, then they'll much more open to receiving information from him about other products.

Without the endorsement, the customer response will drop significantly.

You can also ghost write the endorsement letter for your j/v partner and then have him sign it.

APPROACHING A J/V PARTNER The best way to approach a potential joint venture partner is to send a letter and then follow up by phone. Be prepared to phone at least a couple of times before your partner agrees.

When sending out the letter proposing a joint venture partnership, be sure to do the following:

  • Offer to do all the work. You'll handle all the mailing, marketing documents, and product fulfilment.

  • Collect the customer money yourself and then send your j/v partner his cut for each sale.

  • Stress the fact that your partner will be "getting money for no work." This is a strong incentive for an entrepreneur to become your j/v partner.

  • You will deduct your mailing costs and other expenses first and then split the balance with the partner.

  • Always get your j/v partner to sign your letter agreeing to your terms.

  • Include an "exit clause." This allows you to cancel the j/v agreement if you find your partner is a headache to deal with.

    By following these steps to a joint venture, you'll be able to quickly add hundreds or thousands of potential customers to your database that normally would take years to accumulate.

    And, most importantly, you'll increase your sales.

    About The Author

    Dave Coyne is a copywriter, marketing consultant. Start A High Income, Low Risk Home Business And Never Create A Product, Write An Ad or Talk To Anyone. Get this free report. Send a blank email to dcinfobiz@GetResponse.com

    AliExpress by Alibaba.com


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    CBS 3Q Profit Rises on Digital Subscriptions, Affiliate Fees  Variety

    CBS said third-quarter profit rose largely on strength in revenue from affiliate and subscription fees, a testament to the company's ongoing efforts to find sources ...


    New York races to pass the Mobile Wagering Bill - AffiliateINSIDER
    New York races to pass the Mobile Wagering Bill  AffiliateINSIDER

    The New York mobile wagering bill has taken a huge leap forward in recent days after receiving green light from the state's Senate, but, the progression ma.


    IAC-owned publishing company Dotdash grew revenue by 44 percent last year - TechCrunch
    IAC-owned publishing company Dotdash grew revenue by 44 percent last year  TechCrunch

    Holding company IAC just released its fourth quarter earnings report, which includes positive numbers for Dotdash, the rebranded company formerly known as ...


    Twitch Adds New Affiliate Link, Merch Integrations To Help Creators Earn More Money - Tubefilter
    Twitch Adds New Affiliate Link, Merch Integrations To Help Creators Earn More Money  Tubefilter

    Twitch streamers now have several added tools to help them boost monetization, the platform unveiled this weekend at its annual TwitchCon gathering.


    eBay Cuts Back on Affiliate Marketing - EcommerceBytes
    eBay Cuts Back on Affiliate Marketing  EcommerceBytes

    eBay is cutting compensation up to 70% for certain affiliates who drive traffic to its site effective today, January 19, 2019, a further sign the company is engaged ...


    Domestic Advertising and Distribution Gains Drive Discovery Q1 Earnings - Variety
    Domestic Advertising and Distribution Gains Drive Discovery Q1 Earnings  Variety

    Discovery Inc. delivered domestic advertising and distribution growth in the first quarter even as international revenue dropped.


    CBS says streaming services & Super Bowl helped it achieve record revenues in Q1 - TechCrunch
    CBS says streaming services & Super Bowl helped it achieve record revenues in Q1  TechCrunch

    CBS credited its direct-to-consumer streaming services in helping it achieve double-digit revenue growth and record quarterly revenues in Q1, along with the ...


    Affiliate Marketing 101 - Business 2 Community
    Affiliate Marketing 101  Business 2 Community

    Affiliate marketing can be described as outsourced marketing. It's a process that involves you hiring a third party who is compensated for bringing business to ...


    Disney earnings decrease in second quarter but top Wall Street estimates - Los Angeles Times
    Disney earnings decrease in second quarter but top Wall Street estimates  Los Angeles Times

    Walt Disney Co.'s earnings topped Wall Street estimates for the fiscal second quarter, according to numbers released Wednesday, despite a 13% dip in profit ...


    Fox Profit, Revenue Rise in First Quarter Since Spinoff - The Wall Street Journal
    Fox Profit, Revenue Rise in First Quarter Since Spinoff  The Wall Street Journal

    Fox Corp. said its profit rose in its first quarterly earnings since the company's spinoff from 21st Century Fox, driven by stronger performances in its cable network ...


    How to Kick-Start Your Affiliate Strategy in 2019 - PerformanceIN
    How to Kick-Start Your Affiliate Strategy in 2019  PerformanceIN

    All Inclusive Marketing CEO Sarah Bundy shares her top tips to kick start your affiliate marketing strategy in 2019.


    Why the New York Times, BuzzFeed, and more help you find the best - Vox.com
    Why the New York Times, BuzzFeed, and more help you find the best  Vox.com

    The past decade has seen a flurry of growth in the product review space, with the launch of publications like Wirecutter, Best Products, New York magazine's the ...


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