Some Simple & Basic Benefits Of Joint Venture Marketing
1. You can build long lasting business relationships.
2. You can increase your credibility by teaming up with other reputable, branded businesses.
3. You can get free products and services.
4. You can construct most joint venture deals with little or no money.
5. You can gain new leads and customers.
6. You can get discounts on products and services.
7. You can save money on business operating costs.
8. You can beat your competition.
9. You can gain referrals from other businesses.
10. You can solve your business problems.
11. You can save valuable time.
12. You can get free and low cost advertising.
13. You can offer your customers new products and services.
14. You can survive a depression, recession or a slow economy.
15. You can save money by sharing advertising and marketing costs.
Re: Benefits Of Joint Venture Marketing
I think Joint Venture is always good for business and after reading the benefits of it.now i am 100% sure of it..
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Re: Benefits Of Joint Venture Marketing
The term Joint Venture or JV is one that is being thrown around a lot online nowadays but having read many books written by so called Joint Venture experts it becomes obvious that most people are missing the full extent to which JV's can be used to add profit to a business. Most of these experts will tell you that a joint venture is when one company mails an offer to their customer database promoting the product or services of another company and receives a commission for any sales that result. This form of JV is also known as a host-beneficiary offer, a phrase coined by Jay Abraham.
In reality Joint venture marketing can be so much more. A joint venture is any marketing promotion that involves 2 or more organisations for mutual gain. If you were to walk in to any McDonalds store today you would find multiple JV's in action. Take a look at their kids' meal and you will probably find a toy from a company looking to promote their toy brand or latest movie.
When you expand your thinking you instantly expand your opportunities to profit from JV's.
Lets look at a few of the benefits you can enjoy by including joint venture marketing tactics into your marketing mix.
1. You can set up Joint Ventures to get more customers. Customers who are already presold on the benefits of your company so they only want to buy from you. When your JV partner endorses and promotes your product or service to people who know and trust their business you get instant customers who want to buy from you.
2. Joint Ventures can be used to tap in to thousands, possibly even millions of dollars of other peoples advertising capital. Your JV partner has invested a fortune into his/her business to obtain the customer following they have. When they promote your business to their database you get instant access to that valuable investment.
3. The right JV will add additional revenue streams to your business requiring no additional work or investment on your part. You can promote your joint venture partners services to your database and get paid a percentage of the sales generated. The money you earn is pure profit from day 1.
4. JV's allow your business to leverage off the resources of other organisations.
5. JV's let you capitalize on your businesses hidden assets.
6. Your business gains credibility in the eyes of the customer when you are associated with well respected businesses.
7. You can grow your business significantly without spending a single cent on traditional advertising.
Re: Benefits Of Joint Venture Marketing
Hello Friends,
Joint venture marketing is not a new concept, but it is one that many small business owners fail to tap into effectively. JV marketing partners are an easy way to build your business through brand recognition and relationships with your partner's current customers that can much more readily become your customers as well.
While the idea of approaching a potential JV marketing partner might seem somewhat intimidating, the benefits of the relationship far outweigh the possible discomfort at the beginning. Consider these benefits JV marketing can offer your business.
Cheaper Advertising
When you enlist the assistance of a joint venture partner, you do not need to pay to link their popular, established business with yours. In many cases, JV partners agree to work with new or lesser-known businesses for a commission on their sales. While the percentage might be rather high at first, the increased profits can more than make up for the initial payments. The cost is also more affordable because you pay your partner after the money comes in, rather than trying to cough up a large amount at the beginning to place an ad that will get your business name known.
Less Time
Let's face it; advertising is an involved science that many go to school for years to learn. If you can't afford to hire a professional advertiser to market your company, you may need to dedicate plenty of time and effort to learn the finer points of reaching prospective customers and inspiring them to buy your products.
However, if you turn to JV marketing for your advertising needs, your primary job will be to find partners that have businesses closely associated with your own. Once you work out an agreement with those companies, your marketing efforts are already in full gear. It is helpful to learn a few advertising basics, but the biggest share of your work is already done for you.
More Credibility
When you are a new business just starting out in your industry, it can be hard to convince customers they can trust your quality and reliability. If you link your name with a popular company in a related field, you can often reap the residual benefits of your partner's reputation to build your own customer base more effectively. After all, a customer who likes Company ABC is more likely to try out your products or services if Company ABC recommends you, right? This is the core of JV marketing, and why every new business should undertake at least one good JV partnership to help build a solid customer base.
Thanks
Re: Benefits Of Joint Venture Marketing
still, you may need to devote considerable time and effort to learn the intricacies of reaching potential customers and encouraging them to buy your products.
Re: Benefits Of Joint Venture Marketing
Great points made by vesty. To these I would add:
1. Joint venture partnerships are the best way to target your ideal customer.
2. The best JVs are those where both parties think they got the better end of the deal. If you can approach your partnerships with the goal in mind of providing the maximum benefit for the top goal of your partner, all objectives can more easily be reached.
I just read a book on joint venture partnerships. It was written by Terry Telford and Jay Conrad Levinson. Actually it looks like all the writing was done by Telford and the JV partnership aspect was inclusion in Levinson's Guerilla Marketing Series. Both benefited. The book is "Guerrilla Marketing Breakthrough Strategies."
Re: Benefits Of Joint Venture Marketing
Not only do they pay out a recruitment commission for each new member you personally sponsor, you also earn a commission for each person they in turn sponsor. Now this is only the sign up bonus's.
Re: Benefits Of Joint Venture Marketing
A joint venture is any marketing promotion that involves 2 or more organisations for mutual gain. If you were to walk in to any McDonalds store today you would find multiple JV's in action. Take a look at their kids' meal and you will probably find a toy from a company looking to promote their toy brand or latest movie.
Re: Benefits Of Joint Venture Marketing
'Yes, JV's can be very interesting',
In a somewhat similar way on my Blog(s) I offer visitors the opportunity to 'JV' with me by
placing a 'Guest Post' on my Blog. It can be a WIN/WIN-situation to share your information
that that's valuable to my readers, and you can put in your signature link
to - in return - 'Advertise' your own site on my Blog.
Possibly in the future I will expand JV possibilities with my own special Affiliate Program
that people can easily join. Currenly I only have a - cut and paste - 'Link To Me'
possibility that - especially when you have a 'heavy traffic' site - I might reward with
(point nr. 6) a this case a possible 100% discount on my tiny-small little eBook 🙂
(that isn't that expensive to begin with)
All the Best,
To Your - Small Business - Inspiration,
HP
Re: Benefits Of Joint Venture Marketing
There are three benefits in below.
1. Less Time
2. More Credibility
3. Cheaper Advertising
Re: Benefits Of Joint Venture Marketing
For me joint venture is a very good form of a business.
It is better as compared to partnership.
Re: Benefits Of Joint Venture Marketing
There are lots of benefits to venture marketing. With this you can get rid of your extra inventory which is always a issue with more of the people and with this you can also reduce and eliminate your debts and avoid bankruptcy.
Re: Benefits Of Joint Venture Marketing
For anyone seeking joint venture partners, I recommend checking out WOWjv - it's a free service that connects you with thousands of business owners who want to form joint venture partnerships. It's a GREAT tool for small business operators who are interested in either one-off exchanges or developing ongoing joint venture marketing relationships.
Re: Benefits Of Joint Venture Marketing
You have an idea and you're sure that it'll yield good results. Go ahead without any hesitations. Take a short time off, say a day or two and relax. Think about how to shape your idea up.
Re: Benefits Of Joint Venture Marketing
Thank you for this great information, very useful article about Venture Marketing. An unbelievable resource for any person looking for effective Venture Marketing. I have you bookmarked your blog. So keep sharing with us.
These risks may include:
• Unclear objectives for the partnership, which may result in unmet expectations and hard feelings on both sides
• Different objectives may result in the JV with the partners actually working against one another, using valuable resources and energy without bringing about the desired outcome
• Partners are not sufficiently committed to the joint venture, which leaves one partner shouldering the bulk of the responsibility with decreased benefits.