Product Endorsement Joint Ventures: Short, Sweet 'n Successful - Part 2

Once you've found an Internet marketer who is interested in partnering with you, you can give them access to the product for their review and lay out the rest of the plan. The split should be 50-50, after deduction of payment processor fees.

Unless you own the product or it can't be found readily elsewhere, you should offer it at a significant discount. The list owner should send out the initial email and any follow up messages. As an experienced marketer, they will know how write an endorsement that is more editorial in style rather than blatant sales copy.

The key is to offer the target audience help in solving a genuine problem, rather than trying to sell them a product outright. The people on the mailing list know and trust the list owner, so there are no spam issues to contend with and the JV partner does not have to disclose their valuable list to you. If you agree to offer the product at a reduced price, then it is highly recommended that you set up a separate web page so that you do not lose any orders at the regular price on any existing web pages.

Trust is required between the joint venture partners. To keep things above board, make sure that you provide proof of earnings, for instance by sending your JV partner a screenshot of your sales.

If you select PayPal as your payment processor, then you should ensure that you use a separate email address that is unique to your JV to track your earnings. You can also set up a counter on the JV sales page to give your partner a rough idea of the number of visitors and possible earnings and you should also track the clickthroughs to the site with an ad tracking tool.

When you've transfered your JV partner their share of the earnings, please make sure that they provide you with a receipt for your income tax return purposes.

If you're not yet convinced of the power of the joint venture, let's take a look at the most obvious benefits:

*A JV can be the start of a long lasting business relationship.

*A JV can increase your credibility if you choose your partner wisely.

*A JV is a low-cost, low-risk method to increase sales.

*A JV can lead to new customers, new leads, new subscribers.

*A JV can net you quick profits within a short time frame.

*A JV can offer you a new distribution channel.

Be sure to treat your joint venture partner as a valued equal and always think long-term. Satisfied partners are more willing to repeat the collaboration in future and good business relationships are invaluable! Provided you do it right, a joint venture will boost your online earnings with a vengeance.

Once you realize how profitable and easy it is to set up a joint venture, you will want to replicate the experience over and over again.


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Product Endorsement Joint Ventures: Short, Sweet 'n Successful - Part 1

Successful Internet marketers prosper from joint ventures with their peers every day, so why shouldn't you? The joint venture (or JV) is a win-win, low-cost and low-risk proposition for all involved: you, your JV partner and your customers. There are several forms the JV can take, but let's focus in this article on a very popular form indeed: the product endorsement.

It can be a powerfully lucrative method to rocket your sales within a very short time span... and by doing little more than sending a couple of emails!

Let's say you have a great product that you either own outright or that you have the resale rights to. However, you don't have an opt-in list to offer the product to or you want to be able to tap into more markets. Why not find a reputable JV partner with a significant and targeted mailing list and leverage their credibility and influence instead?

Provided this JV partner is respected in their field, they will command the trust of their subscribers and the upside of that is that the goodwill that they enjoy can be passed on to you. Of course, your product must be of high quality as your JV partner's reputation is at stake and it must not be in direct competition with any of their products, otherwise it's highly unlikely that they will agree to a partnership.

Finding good JV partners isn't hard, but you will need to select them wisely. Team up only with marketers who have an excellent relationship with their subscribers. As an Internet home business entrepreneur, you will undoubtedly be on many potentially lucrative lists yourself, so it's a matter of selecting a few that will most likely contain your target audience.

You can start off by sending the list owner an email to gauge their interest. Make sure that you show them that you are up to speed on their activities -- you're on their mailing list, so offering a comment or two is easily accomplished. Don't try to sell the entire project right off; it's better to follow up with details if they respond positively.

Don't use hype, don't beat around the bush -- you'll find that keeping it short, simple, sincere and straightforward is the best approach. Don't take it personally if they turn you down. You will meet with disappointment regularly, but don't give up, otherwise you will never hit the mother lode!

Be sure to treat people courteously as they may end up doing a JV with you at another time. It should be part of your long-term strategy to develop good relationships with potential candidates -- never view them just as a one-off JV partner . Meanwhile, just move on to the next name on your list. If you have a good product, you will undoubtedly find a partner who is genuinely interested.

Look out for part 2 next week.


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