{"id":22471,"date":"2011-07-20T10:09:00","date_gmt":"2011-07-20T14:09:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=22471"},"modified":"2011-07-20T10:09:00","modified_gmt":"2011-07-20T14:09:00","slug":"the-right-way-and-the-wrong-way-to-initiate-joint-ventures","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/07\/20\/the-right-way-and-the-wrong-way-to-initiate-joint-ventures\/","title":{"rendered":"The Right Way and the Wrong Way to Initiate Joint Ventures"},"content":{"rendered":"

By Early To Rise<\/strong><\/p>\n

At least once a week, I get an e-mail from a newbie Internet marketer presenting the same problem\u2026<\/p>\n

The marketer has created his first product, along with a landing page on which to sell it.<\/p>\n

Now, how does he drive traffic to that landing page to generate clicks and sales?<\/p>\n

The most effective method is to send an e-mail marketing message advertising the product to your opt-in e-list.<\/p>\n

But if you\u2019re like most beginning Internet marketers, you have either no list or a list so small that no significant sales will result from e-mailing to it.<\/p>\n

The only way for you to access large, responsive e-lists is to do joint ventures with the big Internet marketers who own those lists.<\/p>\n

Unfortunately, the successful Internet marketers with the big, profitable e-lists (a) don\u2019t know who you are and (b) are bombarded by people asking them to promote products every day.<\/p>\n

Therefore, they have little or no inclination to promote yours.<\/p>\n

So what are the do\u2019s and don\u2019ts of asking medium-size (like me) and big Internet marketers (like Early to Rise) to joint venture with you?<\/p>\n

To begin with, never send your product unsolicited, without getting permission first \u2013 especially a physical product like a book or DVD set.<\/p>\n

The recipients have neither the time nor the interest to read your book or watch your DVD, and your expensive materials will go straight into the trash.<\/p>\n

And don\u2019t ask the big Internet marketers to look at your e-book and offer advice and suggestions.<\/p>\n

That is presumptuous and potentially insulting. My clients pay me hundreds or thousands of dollars for my critiques and editing. So why I should interrupt my paying work to review your e-book for free?<\/p>\n

That said, here\u2019s a 5-step process that can lead to success in establishing joint ventures with other Internet marketers, even those much bigger than you.<\/p>\n

1. If there is any connection between you and the marketer, even a tenuous one, mention it in your first communication with them.<\/strong><\/p>\n

The connection could be as solid as having a common friend or colleague, or as negligible as you being a fan of their work.<\/p>\n

One online marketer I know got a major guru to endorse his e-book because they live in the same city and swim in the same lake.<\/p>\n

\n

Why You Don\u2019t Need to Be an Author to Have a Bestselling Book<\/strong><\/p>\n

A Florida martial arts expert \u201cfound\u201d a dusty old book. Then he turned it into estimated sales of over $20,000 in one month<\/strong>. With another book, he\u2019s pulled in over $332,250. <\/strong><\/p>\n

A 30-something Internet marketer used the same formula to dig up his own bestseller. The little-known art book he found made $19,453 in just 3 weeks.<\/strong><\/p>\n

These books weren\u2019t first editions. They weren\u2019t famous. They weren\u2019t wildly popular. Best of all? These hidden treasure troves don\u2019t have to cost you a penny.<\/p>\n

You could unearth the next bestseller. Find out how right here. <\/strong><\/a> <\/strong><\/p><\/blockquote>\n<\/div>\n

2. Briefly describe the product for which you are proposing a joint venture. <\/strong><\/p>\n

Give its title and a one-paragraph summary of the contents, purpose, and intended audience.<\/p>\n

3. Explain why you think your product would appeal to the marketer\u2019s list, and also how it offers them unique content they cannot get elsewhere.<\/strong><\/p>\n

For instance, an aspiring Internet entrepreneur put together a guide on how to write copy and suggested I offer it to my list. He was shocked when I turned him down. Why did I do it? Because I ALREADY have several of my own products that cover the same territory. Since I\u2019d have to split the profits with him in a joint venture, why wouldn\u2019t I just sell my own products and keep all the money?<\/p>\n

More recently, I was offered the opportunity to joint venture on an e-book about how copywriters and graphic designers can work together. It\u2019s a topic with great appeal to my list, and I don\u2019t cover it in any of my own products. This combination makes it ideal for a joint venture.<\/p>\n

4. Make sure the price of your product is high enough that it allows the marketer to make a profit when he promotes it to his list.<\/strong><\/p>\n

I have been approached by marketers about doing joint ventures on small special reports that cost seven dollars. I tell them there is not enough money per sale in it to pay off for me.<\/p>\n

5. Offer a generous commission. <\/strong><\/p>\n

For most information products \u2013 e-books, audio CD albums, DVDs, multimedia programs \u2013 I give as well as get a 50% commission on each sale. Anything less than 50% is usually not enough to interest me.<\/p>\n

There are exceptions. On high-priced items, such as seminars and conferences, a 25% commission is sufficient compensation. One colleague, CM, asked me to present his $5,000 bootcamp to my list and offered $1,000 commission on each sale. I was more than happy to oblige.<\/p>\n

Some Internet marketers add extra compensation for joint venture partners \u2013 prizes for the partners who generate the most sales for a product. This is typically offered for product launches.<\/p>\n

I would never promote a product I don\u2019t like to my list just to win a prize, even if it is substantial. (And the prizes can be anything from an iPod up to an automobile!) But if I would promote the product to my list anyway, I certainly don\u2019t mind getting a modest prize. (I won an iPod a few months ago and gave it to my son.)<\/p>\n

[Ed. Note<\/strong>: Setting up successful and effective joint ventures should be a priority in your Internet business. But there is plenty of other stuff to learn and take care of: search engine optimization, copywriting, landing pages, e-mail list building, social media… you’ll learn it all in Bob’s Internet Cash Generator program. Find out more about it here<\/a><\/strong>.<\/p>\n

Bob Bly<\/strong> is a freelance copywriter and the author of more than 70 books. To subscribe to his free e-zine, The Direct Response Letter<\/em>, and claim your free gift worth $116, click here now<\/a><\/strong>.]<\/p>\n

 <\/p>\n

 <\/p>\n

This article appears courtesy of Early To Rise<\/a>, a free newsletter dedicated to creating wealth<\/a> and success<\/a> through inspiration and practical, proven advice. For a complimentary subscription, visit http:\/\/www.earlytorise.com.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Early To Rise At least once a week, I get an e-mail from a newbie Internet marketer presenting the same problem\u2026 The marketer has created his first product, along with a landing page on which to sell it. Now, how does he drive traffic to that landing page to generate clicks and sales? The … <\/p>\n

Continue reading “The Right Way and the Wrong Way to Initiate Joint Ventures”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-22471","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=22471"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22471\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=22471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=22471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=22471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}