Joint Ventures

Joint ventures are an awesome way to make money with a resell rights product you own rights to. What exactly are Joint Ventures or “JVs” ?

Basically, a joint venture is when you agree with someone to get them to promote your product in exchange for a commission for every sale they make...this is how the big names in marketing make their fortunes!

• Approach e-zine publishers to propose a Joint Venture on selling the product with Resell Rights to their subscriber list

Usually, you might offer more commissions and slightly more sophisticated marketing materials (e.g. free report rebranded with their own name and a liberty to place a one-page ad) to your Joint Venture partners.

When approaching a potential Joint Venture partner, write your template letters from a position of leverage.

In other words, know your product well and treat it as your own even if you bought the rights to it from someone else. Make your potential Joint Venture partner feel that they are communicating with the right person.

Write the first letter to your potential Joint Venture partners asking for their permission to view your proposal.

Don’t enclose any further details until you get their permission. The point is that you don’t want your potential partner to have the license to say “no” just yet – not until he is really interested in listening to your offer.

To assure your potential Joint Venture partner that you are not spamming their mailbox, make a special of their name, their e-zine name, and their URL.

Don’t forget to quickly introduce yourself at the start of your letter.

• Reveal the full details of your Joint Venture proposal in the second letter only

Full details can range from about your product, how much you plan to pay your Joint Venture partner for every copy of your digital product sold, and how your partner can benefit from this venture. If there is a sample of the product available, you can attach to the mail for your potential partner’s review.

In your Joint Venture proposal, write more on benefiting your partner than about yourself or even your product for that matter.

You are making the first approach to your potential partner. He, like many other Internet Business owners, may be very busy with his own commitments and projects so he will definitely like to know what is in for him. If he finds you’re just wasting his time on something not worth his time, he will just reject your proposal. Remember, it’s easier for him to say no!

And In the second proposal letter, include a link where your potential Joint Venture partner can sign up for your affiliate program.

Be sure to equip your Joint Venture partner with the marketing materials necessary to promote the product on your behalf. If the marketing materials can’t be installed into the affiliate program, follow-up with your Joint Venture partner after the sign up to give him the marketing materials.

NOTE: While you may have written a few proposal templates before sending them out, you will do well to write the letters in a more personal tone.

Your letters can change slightly in terms of how you address your potential partners and their needs.

• Recruit as many Joint Venture partners as you can

The power is in the numbers. You might have to motivate them from time to time, too, because they are just as human as anyone else. You can make your affiliate program 2-tier to encourage your Joint Venture partners to refer other Joint Venture partners in their network of contacts thus increase your marketing power manifold.

At the bottom of your proposal letters, include P.S. (Post-scripts) to summarize your letter and push your potential partner to take action NOW by signing up for your affiliate program.

Remind your potential Joint Venture partner that should they have any questions, you will be glad to help. You won’t mind helping a partner who is going to help you succeed, would you?

Also, when discussing a mutual benefit arrangement with your potential Joint Venture partner, stress on a win-win-win situation rather than the usual win-win situation that most people talk about.

Some potential partners are responsible e-zine publishers who cares a lot for their subscribers so don’t forget to include their subscribers into the win-win-win situation. Remember that their subscribers are also going to help make the whole venture a success. Your potential partner wins when he makes successful sales. His subscribers win when they purchase a quality product useful for their own purposes. YOU only win when both your Joint Venture partner and his subscribers win.