Learn the power of joint ventures to build your database
Anyone who depends on building a database with online subscribers knows this is becoming more difficult by the day. Primarily, the competition for the consumer’s attention is fierce. Today’s consumer has become much more demanding and savvy when it comes to buying products online or signing up for stuff.
Smart marketers realize the power and profit that comes from a strong alliance through joint venturing. JV’s can be one of the smartest marketing moves any online marketer can make.
Something that has become very popular in recent months is where one person or company sweetens the offer of the product they are selling with lots of bonuses. The bonuses can be their own information products or those of others who understand the benefits of this type of campaign. Of course, there is no charge for the bonus products.
There are two primary ways to participate in a JV of this nature. One is to simply give the PDF file to the person who is selling a product. The seller gives the PDF directly to the buyer:
- The advantage to this is your bonus product gets seen by others.
- The disadvantage is you don’t get access to the buyer’s contact information.
The other option is to require anyone who buys a product to go to a link provided by the bonus giver. The link is connected to a page with a form that the consumer fills out. They must leave their name and at a minimum, their email address before they can download the bonus.
When offered the opportunity to partner with other online marketers I usually jump at the chance. However, I the campaign I am most likely to join in on is the one where people sign up to get my bonus. Additionally, I do all I can to make sure the person I partner with is reputable.
Here are the primary benefits to participating in a joint venture.
- Expanded market reach
- Gain name recognition within that market
- Increase credibility through name association
- Build a database with minimal effort
- Create incredible value for the consumer
If you are looking for ways to increase your database, reach, credibility and visibility while providing more value to your market, consider joining forces with other progressive thinking entrepreneurs. It could be one of the smartest business moves you make.
Here are 3 of the best LeadMagnets based on giveaway concept: