A joint venture is where you contact a marketer in your niche market who has an email list of subscribers who may have an interest in your product. They can be the lifeblood of your business. Just five decent joint venture partners who promote your ebook to their email list in exchange for a commission can put your current income through the roof. Read this newsletter and go out and take action. I assure you your results can be life changing.
Know Your Conversion Rate
Don’t make the common mistake of many newbies and start contacting JV partners here, there and everywhere before you have even made a sale of your ebook. This is very, very wrong. You must be able to tell a possible JV partner how well your site is converting.
Site conversion is simple. It’s the amount of visitors to the amount of visitors who buy. So for example if one hundred people visited your site and two bought your conversion is two percent. You want to get at least one thousand visitors before you know your conversion.
To work out how your sites converting download the software from www.statcounter.com. Don’t worry it won’t cost you a penny.
Offer Large Commissions
Once you know how well your sites converting (if no one’s buying don’t even bother contacting marketers. Improve your sales letter, change your headline, whatever it takes) you can start contacting JV partners. Offer them more than your regular affiliates. If you offer your affiliates fifty percent commission, offer your JV partners seventy five percent.
You may be thinking “wait a sec those commissions are huge? I won’t make any money myself". This is where so many go wrong. If people are sending you tons of visitors you can build your email list and offer them other products in email promotions, and you can also make money selling back end products.
Return The Favour
Offering high commissions is not enough. Tell them that you’ll add a message into your auto responder set up so that you’ll market their products via an affiliate link in your back end. Explain that you’ll be setting up joint ventures with other marketers in the niche so that they’ll get visitors to their site without spending a dime.
Using Clickbank
The first thing to understand is that you are ONLY contacting marketers who sell products aimed at your niche market and therefore have an email list or customer list of people who may have an interest in your ebook. If you are selling an ebook on snowboarding then don’t start contacting marketers who sell diving products.
Bearing this in mind start at www.clickbank.com. Click on “promote products" on the home page and then search the marketplace for products in your niche. Contact the product owners and try setting up a JV.
Google “Ezine" Trick
This is a great way to find marketers with ready made email lists they can send a promotion to and sell tons of copies of your ebook virtually overnight.
Go to google and type in “(niche) ezine". So for example if you were selling a bass fishing related ebook you’d type in “bass fishing ezine". What you’ll get is a huge list of results of web sites in which people have a bass fishing email newsletter (or ezine). Obviously they won’t all have one, often you’ll get millions of results, but you can spend a few hours going through the results and get more JV contacts than you could ever hope for!
Google “Allintitle" Trick
Here’s another cracker. Do you think web sites that have your niche market keyword in their domain name might be great potential JV partners? Of course! Go to google and type in “allintitle: (niche)"
So for example if you were selling an ebook on song writing you’d type “allintitle:song writing" into google.
Go through the results contacting marketers and setting up hugely profitable joint ventures.
Leverage Results
Setting up just one profitable JV allows you the opportunity to use the results to start setting up even more joint ventures. You can say things like “Joseph Bloggs from domain.com made X amount of sales and earned Y from just one mailing to his list". This is really powerful as it shows marketers that you know what you are doing.
The Best Joint Supplement
When someone threatens us, we instinctively look for ways to avoid, evade or protect ourselves from the perceived threat. In business, where money, security, and even our family's future rides on our every move, anyone or anything we perceive as a "threat" usually causes us to go into "protection" mode.
Once in "protection" mode, we close off to all possibilities except avoiding or defeating the threat.
On the flipside, anything or anyone we see as able to help us build our business, expand our reach, or improve our profitability, makes us instinctively think of ways we can use that to our advantage.
Once you understand this simple fact, it's easy to see how YOU can to turn your biggest competitors into your best Joint Venture (JV) partners. "Competitor" is nothing more than a label someone else places on you because they see you as wanting to get the same thing they want (from a limited supply).
In other words, if 100 customers exist, and your "competitor" perceives you as basically selling the same thing they do, and then the race is on to see who can get the biggest share of those 100 customers.
This behavior stems from a "scarcity" mentality of "The pie is only so big and I need the biggest piece possible!"
My advice: STOP trying to divide up the same pie. Bake a NEW PIE and get your competitors to *SELL* IT FOR YOU!
Any competitor you see in the marketplace can actually turn into your best Joint Venture ally and strongest sales person if you know what to do.
Your job is simply to find out how you can complement what they do rather than compete head-to-head with them.
For example: I sell an eBook (2 actually) on how to sell thousands of eBooks on the Internet.
The material comes directly from my experience of actually *doing* it - rather than regurgitating what others have done. Since I already have two eBooks on "eBooks" I have no interest in promoting someone else's eBook on the same subject.
In fact, I get rather snitty when they ask because it shows their complete ignorance of this principal.
On the other hand, what if they baked a "new pie?"
What if they created a piece of software that made converting Word docs to PDF a snap and cost a fraction of the price for Adobe Acrobat? What if they baked a pie that made it simple for eBook authors to automatically post their eBook for sale on all the different online bookstores out there? What if they created an easy-to-use system to help eBook authors get their eBooks listed on Amazon and gave me a cut of the action when I sent them new customers? What if they created a system that made it easy for eBook authors to offer a copy of their eBook on CD or in hard copy form without expensive set up fees?
NOW WE'RE TALKING about things that, in my mind, would immediately take them out of the "competitor" category and place them in the "I'd like to know more about you" category.
So if you want to bake a new pie (get your competitors to view you as a friend and seek you out as a JV partner), follow this three step formula.
First, step back from the marketplace and see what the vast majority of people in your marketplace are selling, promoting, or offering (they're all doing virtually the same things).
Second, think about how you can help them AND their customers get MORE of what they want faster by complementing what they already do and not competing with them.
Third, wrap your product or service in a way that your new ally can not only make more money or more sales of both your product and theirs, but also make their customers even happier as a result.
Both Rajpal175 & Manishsachdev are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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