Your First Joint Venture
Doing joint ventures is one of the fastest ways to start making money for the new internet marketer. It’s not what your business should be built on long term, but it can be an incredibly fast source of cash if done right.
You know those stories online about people earning $100,000 in 3 days without having a list?
Those were almost always achieved by doing a joint venture. They work because you are leveraging other people’s lists to your advantage.
But why would somebody let you promote to their list?
Because you give them an affiliate link so they get a commission for every resulting sale.
But how do you find the right people for a joint venture?
Well, one underutilized strategy is to just do a Google search of the most searched keywords in your niche.
Visit each of the top ten sites and look to see who has an email opt-in form. Since they are in the top ten you know they are getting a lot of traffic.
And because they have an opt-in form they are obviously building an email list. Chances are they have a list of 100s or even 1000s of people.
Also look on Adwords and see who’s advertising there. Many of these advertisers have huge lists in the 100s and 1000s as well and, again, only target those who have a visible opt-in form on the site.
Here’s an out of the box method. Go to websites and just get in touch with everyone who’s left a testimonial for that product. In many instances these people have profitable businesses themselves.
Using forums can help you establish contacts and meet potential JV partners down the road. Just be careful not to waste too much time there!
And don’t forget about offline strategies for finding JVs.
One of the best is seminars. These are not just about the speakers and strategies you get. The main benefit is the people you meet and the business relationships it can produce long term. If you meet someone with a responsive email list that sells a similar product to yours, then they may be a potential partner.
But how do you approach them?
That’s the hard part. It can be extremely nerve wracking your first time or two. Make sure you emphasise why they would benefit from sending your offer to their list.
Don’t talk about how great your product is, instead focus on the conversion rates of your website. You may even want to offer 100% of the profits to start. This is still beneficial to you because you’ll make money with your backend sales. These are the sales you make after the initial one.
This way, even if you don’t make a dime upfront, you will have many customers to sell to down the road. The backend is the real benefit of JVs.