| |
| |
|
Online Advertising |
Guaranteed Targeted Website Visitors from just $0.45 per 1000. 24 Hour Unique Visitors, Online Stats, 30 Day Guaranteed. We offer Country Targeted or Mainstream Traffic at wholesale cost.: CLICK HERE |  |
|
|
The Five Most Common Joint Venture Marketing Mistakes To Avoid
Joint Venture marketing has become a highly popular way for small businesses to maximize their profits. When two or more businesses combine their resources synergistically, it creates greater marketing impact and bigger profits than either can have alone. Doing joint ventures has many benefits, but there are also many mistakes that can be made. These mistakes can be costly, not only in revenue, but in credibility with your client base. These are not the only joint venture marketing mistakes made by small businesses, but as these are the most common, avoiding or correcting them will certainly put you on the right path. Here are the five most common mistakes to avoid: 1. Not taking the time to ensure that your partner has great-quality products and services and a solid reputation. When you choose a partner, it is imperative to choose one that has high-quality products and services as well as a good reputation within the industry. Sometimes, a company may look better on the surface than it really is. Your credibility is at stake if you partner up with a company that has sub-standard products and services or one that is popular for bad customer service. Do your research about your potential joint venture partners and review their products and services before endorsing them as these issues will reflect on you and your business! 2. Offering your partner too small of a deal There has to be an incentive for your partner to engage with you, and offering too small of a deal won't make it worth their time and effort. Remember that endorsers with a large, targeted and loyal client base are the most wanted joint venture partners. They'll partner with others if you offer a percentage of the profits that's too low. So make this mental note... if they are worth pursuing, they are worth sharing the profits with. 3. Simply handing over your client list This can constitute breach of contract with your clients if you have committed to their privacy. You've also worked very hard to build your client list, and this forms part of the value you have to contribute to the joint venture relationship. If you simply hand over your client list, you have no point of leverage. 4. Not devising an exit strategy Even the best of relationships can go sour, or simply not work. Make sure you have an open door to leave the joint venture if for any reason it is not working out. 5. Committing to a long term relationship from the beginning, without testing your strategy first Any joint venture should involve a trial period to see if profits will show a real upwards trend, or if the idea is a valid one. If you sign a long term contract, you may be stuck in a no-win situation with no way to escape. As with any marketing strategy, test in small numbers first, before rolling out fully. Joint Venture marketing is very lucrative, and with some forethought and planning, can help springboard your business to new success levels. Just make sure to do your homework right from the start, and avoid these pitfalls to ensure high returns on your investment of time, money and effort. Copyright © 2005 by Habiba Abubakar and Emprez. All rights reserved. Note: You are welcome to republish this article as long as the resource box at the end is included fully and unaltered. Habiba Abubakar, a.k.a. The Profit Diva, specializes in helping small business owners who are struggling to increase their client base and are tired of earning mediocre profits. The tips in this article have been excerpted from her home-study program, "Joint Venture Profits For Small Business Owners." To learn more about this step-by-step program, and to sign up FREE for her revealing Mini eCourse, "The Easiest Way To Skyrocket Your Profits In 90 Days Or Less," visit http://www.profitdiva.com
MORE RESOURCES:
|
|
|
|
RELATED ARTICLES
Gaining Business Intelligence A white paper on how companies should analyse customer data to gain better business intelligence and how they can use that knowledge. In an increasingly competitive world, using your client database smartly, to gain a better understanding of your number one asset - your customers - can make or break the success of your company. Marketing Planning Made Simple - Another Small Business Power Tool Marketing planning must be really difficult and complex, otherwise why would there be so many books written on the subject ? right?Well, I'm just enough of a skeptic to believe that many of these books were designed more to make money for their publishers and authors than to make marketing planning simple and understandable.I spent more than 30 years working with very successful small business people who never wrote a single marketing plan. Sales Resistance on the Rise Have you noticed it? More and more marketing campaigns are going over the top. They're trying bolder, more in-your-face tactics. Bedroom Marketing Hopefully we are all adults here, so let's talk about sex for just a minute. No, I'm not talking about porn sites, I'm talking about taking a look at what I call 'Bedroom Marketing' and applying the same principles to Internet marketing. Get Results: Start with Your Marketing Message and Objective Recently I was talking with a very bright traditional marketer on the value of integrating Internet marketing into an enterprise's marketing mix. Personally, I have witnessed significant and measurable increases in the online results of an enterprise when they include traditional marketing strategies like direct mail, radio, television or publicity with their internet marketing strategies. Generational Marketing Having run a multi-state franchise company with multiple brands it became obvious to me early on that if one were to properly respond to the needs and desires of your customer base; you must indeed, understand generational marketing. The X'ers have a completely different mindset than the "Boomers" or the "Matures. Teaming Up Marketing and Sales The Pitchers: SalesLet's say you have a new baseball team in town and it's almost time for the first game of the season. Your sales force is ready to sell a variety of package deals for the season. 10 Essential Criteria For Choosing Your Target Market A specific group of people you will focus on selling your services to is your target market. This is not to be confused with the problem you will be solving for this group. Tooting Your Own Horn "If he who has a thing to sell Goes and whispers in a well, He won't be so apt to make the dollars As he who climbs a tree and hollers!" -- AnonymousEvery day in your business, something happens that others should know about. You give exceptional service to a client; you reach out to a new type of customer; you demonstrate your expertise on an important topic. Marketing Miracles - Do They Just Happen? A simple answer to that is: Yes, Marketing Miracles happen! But, these marketing miracles do not just happen. The process is not instant. The Day I Learned to Start Saying No It was the fall of 1998 when I had just started my first business as a marketing communications writer. Most of my clients hired me for newsletters, brochures, and sales materials, but I would get the occasional request for something different. Mortgage Marketing - How to Find Your Niche Ann Landers, Dr. Phil and Roger Ebert take pleasure in being recognized as leading experts in their respective fields. A Business In One Sentence Marketing expert and author, Geoffrey Moore, has a useful fill-in-the-blank method for creating a theme and positioning statement for your business. I prefer to use his same system for creating clarity for myself in what I'm selling, creating an elevator or introduction speech, and also material for my website, brochures and business card. First to Market Theory AGE OLD QUESTIONBusiness scholars throughout the planet keep asking the same question and have come to the conclusion that being first into the market place is preferable. Preferable to what? They say every product has a life cycle? What about milk? If that is true and many academia will classify products and services in order to make a point and simply lump them all together. Do You Make These 5 Common Marketing Mistakes? The famous P.T Barnum once said, "Without promotion, something terrible happens, NOTHING!" And marketing (or promotion) is all about combating that dreaded 'nothingness'. There's More to Marketing ROI (return on investment) Than Meets the Eye All too often people look at marketing ROI in terms of response rate: in other words, "I sent out 10,000 pieces of direct mail and only got 39 responses which is terrible." This is wrong think. Time for Marketers to Clean Up Their Act! Some years ago, a prominent Australian hi-tech company launched a product called Maestro that bundles community-building features like chat rooms, file sharing and instant messaging into one application. The company envisaged smaller Internet service providers (ISP's) as their main target market for the software. Your Elevator Speech - Have You Updated Yours Recently? Do you have an elevator speech? Does it get people's attention? Do they ask you lots of questions when you tell them what you do?Every great elevator speech needs to answer these key questions:1. Who am I? (introduce yourself)2. 10 Important Marketing Tips Each of the following Ten Marketing Tips is based on a highly effective but often overlooked marketing tactic. How many are you using? How many have you overlooked?Marketing Tip #1: Insulate yourself against the impact of change by increasing the number of products and services you offer . Effective List Management Can Save You Big Let's talk about how to keep your postage costs down.So far you have been following my advice and mailing to the same list more than once.
|
| home | site map | bad credit loans |
| SUBJECTS: • Advertising • Book Marketing • Domain Names • Email Marketing • Ezine Marketing • Ezine Publishing • Internet Marketing
|
Article Menu:
Auto - Trucks :: Business - Finance :: Computers - Internet :: Family :: Food - Drink :: Health :: Home Improvement :: Kids - Teens :: Legal :: Marketing :: Online Business :: Parenting :: Recreation - Sports :: Self Help - Motivation :: Site Promotion :: Travel - Leisure :: Web Design - Development :: Women :: Writing ::