One of the secret weapons of internet marketing is the joint venture partnership, often called simply “JV”. A JV partnership is where you work in conjunction with another person to promote a product on the Internet. It allows you to take advantage of the resources built up by another.
For example, let’s say you have a product you would like to promote. You have a mailing list. You have a website. But, there are others online who cater to the same market you do and they have their own mailing lists and clientele as well. There are two choices here: (1) You look at that other person as pure competition and you work to out market them, or (2) you look at that other person as a potential partner.
So, you can work up a relationship with that other party and you can offer to do a JV deal. A JV deal can take a lot of different forms, but a very typical arrangement might be “You promote my widget to your mailing list and I will pay you XX% commission for every product sold.”. This allows you to get your product in front of that person’s database and it allows them to make some coin in the process.
It can be work to set up a good joint venture partnership. You’re dealing with actual people here and they will need to be convinced to partner with you. Often, the successful people in a market are approached for JV deals quite often. You might be just another number to them. So, you need to exercise come tact when you deal with them and you need to have a product that is truly worthy of such promotion.
We have a full series on how to set up joint venture partnerships here at PCMech. This series is available to members only, and it will walk you through the pitfalls of securing JV deals.
JV deals can be the make-break point between an unsuccessful product launch and a very successful one. JVs are what allow some of the best known internet marketers to create these huge product launches and have million dollar paydays. Without JVs, they couldn’t do it.
It is that powerful.
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