Making a Joint Venture a Success: The Essential Steps

Making a Joint Venture a Success: The Essential Steps

The purpose of this piece is to provide guidance on how to launch and run a productive joint venture program.

1. Picking Reliable Business Affiliates

Choosing high-quality, highly-trafficked websites to collaborate with is an important step in creating a successful JV. Here and in the sections that follow, we will use the sale of an e-book as an example. This electronic book is titled "Bass Fishing." Searching Google for the top three terms associated with your issue is a simple approach to discovering possible JV partners. To illustrate, let's say we want to go "bass fishing" for both large and small-mouth bass. You may produce an ebook on practically any topic and discover a long list of websites that cover it thanks to the Internet and Google's search skills. In my opinion, it is best to begin with a set of fifty sites to manage.

2. Picking Reliable Websites

Try to find niche markets that have quality, rapidly expanding websites.

Go to www.Alexa.com and download their toolbar once you have a list of sites—I recommend breaking them down into groups of five. See how quickly each site is expanding and how much effort they have put into it by using the "wayback" option. Because Alexa only tracks the fastest-growing sites, you won't find any data in a lot of the categories.

Locate the sites with the most potential for rapid expansion of your visitor base. Select the two most promising sites for expansion from your first set of five and set them aside for later use. Use the Google toolbar, which can be downloaded from http://toolbar.google.com, to determine the page rank of the remaining three sites. I recommend adding them to your "to-contact later pile" if their page rank is less than five. You should add them to your contact file if their page rank is five or greater.

3. Pursuing Less Prominent Websites 

Get in touch with the smaller, slower-growing sites initially. You are more likely to receive a joint venture and reciprocal link from a smaller site when you are first starting out, which is why I proposed setting aside the top two growth sites out of every five. Reaching a page rank of five or higher and having ten or more backlinks from high-quality sites are prerequisites for contacting the larger sites. We all know that the sites selling your ebook aren't only out for profit; they also want to boost their own PR and amass a network of high-quality link partners. Building your site's rankings and links before approaching larger sites increases the likelihood of receiving a "no" from them. Large websites are especially concerned about maintaining high search engine rankings. Make sure you've done your research and linked before contacting them for a JV. (Alright, I've had enough of that sermon!)

4. Compose an appropriate cover letter.

An expertly worded contact letter outlining the advantages (sell percentage) that the JV partner will reap is essential to a fruitful joint venture. The number of linked sites and their average page rank is another important detail to include. (Keep in mind: five or more.) Be sure to keep your letter brief and to the point while outlining the advantages to the recipient. You should also clarify that you will supply the partner site with all the ad wording, images, banners, and continuing emails they need to market your product and earn money. Establishing an affiliate program through www.shareasale.com or www.clickbank.com is a must before reaching out to the JV partner. What I mean is that you may expect more favorable feedback from the JV partners if you make things easier for them.

5. Demonstrating Your Good Faith.

Before reaching out to possible JV partners, it's a smart move to connect to their site from yours. They may already have a logo or links up, so you should utilize those instead. Make a test ad instead if the site has a copyright notice. After you've placed the link ideally at the bottom of your partner's page or your home page on your site, you should get in touch with each individual site. Check out our website at www.Home-Business-Success.biz for a preview.

6. Confirmation Please check Please check in.

Do not stop asking questions until you have a definitive yes or no. The day following your email, I recommend calling the potential JV location. You should also be aware that some of your emails may be rejected due to modern spam filters. Do not be taken aback if they tell you they did not get your email when you called. In case they did not get the email, politely request that you resend it to them right away. If you want future emails from them to get through, you should provide them with your address and request that they add it to their address book.

7. Sales notification

When a sale is made, the JV will be notified automatically via email.

I can't understand why more people don't do this. Just imagine how much more motivated you would be to sell the goods if you received a brief email whenever you completed a sale for your joint venture partner. When I check my inbox, I can't wait to see how many sales I made. It feels like a holiday every single day! Keeping your JV partners motivated is essential, so please don't miss this easy yet powerful tip. Under "Jeff's Opinion" on our website, you may see Jeff's superb essay on this same subject. The information it contains is both valuable and enjoyable to read. I recommend that you have a look.

8. Give credit where credit is due.

Get in touch with your joint venture partner via email to congratulate them on their first sale. This is a fantastic chance to provide feedback on where to put your ad and introduce new products for future endeavors. Your ad would be much more effective if it were displayed in the top left corner of the JV partners' website. Among the top three places to place an ad, this one brings in a pretty penny. Since your joint venture partner may lack your expertise in certain areas, you should still ask for higher placement and offer to help them with any small activities you can to increase their traffic.

9. Launch a Newsletter for Your Joint Venture Partners.

When launching new items, this is a great tool to use. Create a sales competition with your joint venture partners using this tool to determine who can sell more of your products. Notifying your subscribers of any new partner sites is another smart move. As a result, the new JV partners will be more motivated. A newsletter is an excellent tool for fostering camaraderie. One piece about online marketing, one about your specialty, one about sales, one about new items you're offering to other people or sites, and one space for facts, questions, and ideas from your joint venture partners should make it into the newsletter. Keep in mind that your JVs' desire to market your items is directly proportional to their level of involvement and participation in decision-making. 

Put out a page on your site where people can see the newsletter. Having additional content about your specific area is always a plus. Be sure to incorporate any client and joint venture partner testimonials as well. Never forget: nothing beats high-quality material! Motivating visitors to return to your site is essential. Post fresh content for them every two weeks, if not more often. Free articles can be found on websites like www.ArticleCity.com if you absolutely need them for your website. But I really think you should put your pen to paper and produce as many articles as you can. Joint venture partners appreciate reading your bio. Search engines value content, especially high-quality material, so submitting your article to sites like www.ArticleCity.com can increase your traffic.

10. Making Contact with More Eminent Websites.

Get in touch with the larger sites when your page rank reaches 5 and you have 10 linking partners or more. Keep in mind that you have accomplished a lot since launching your site, and you should include it in your joint venture request letter. Incorporate links to your JV newsletter and testimonial pages into the letter. A larger percentage of each sale will be paid to super-affiliates. The number of visitors your site receives should compensate for the proportion you lose. Be ready to pay the big sites at least 50% if you pay your smaller JV partners 40%. An effective way to attract bigger sites is to offer them a share of your profits based on how many of your ebooks they sell. For example, if they sell 150 of your ebooks, they will receive 55% of the profits, and so on. The number of sales is crucial.

If you are a high-quality JV partner interested in product collaboration or link exchange, please contact www.H-B-S.biz. If your page rank is 5 or higher, please get in touch with us at Steve@Home-Business-Success.biz. Even if your site isn't related to home businesses, we also welcome specialty sites. Even if your PR isn't five or above, we can still cross-sell products if you have some great ones. Please do not contact me via link farms; I do not intend to be impolite. We have no intention of exchanging links with you.