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The Most Powerful Marketing Strategy Available To Small Businesses
Most small business owners want to generate huge profits, with little effort and in the least amount of time. If you fall into this category then joint venture marketing is the fastest, easiest and most profitable way to do that.
Joint venture marketing involves two or more businesses combining their resources to work towards a common goal, and create a win-win situation for all parties involved. Its about partnering with another business to leverage on resources that your small business wouldnt otherwise have.
While it appears to be more popular with online businesses, joint venture marketing is still implemented by offline businesses, and it certainly works just as well in the offline world. In fact, one of the reasons why many industry giants like Southwest Airlines are so successful is because they implement joint ventures.
Doing joint ventures has many benefits, but Ill focus on the top seven benefits for small business owners.
Here are seven reasons why joint ventures are the most powerful marketing strategy available to any business, and why every small business should be doing joint ventures:
1. Youll pay for results only
When you place an ad or you rent names for a direct mail campaign, you still pay the publication or list broker, whether you generate responses or not. With joint ventures, you only give your joint venture partner a cut of the profits based on the sales made as a result of the joint venture. If no sale is made then your joint venture partner gets nothing. That eliminates potential losses. Hows that for low-cost marketing?
2. Youll increase credibility
Your joint venture partner probably spent years building a good reputation within their industry. They therefore have influence and credibility with their clients. By partnering with them, youll be tapping into this resource. You can piggyback on your joint venture partners credibility and shine in their glow.
3. Youll be adding value and getting more profits
By endorsing products and services of great quality, youre creating new, hassle-free profit outlets for your small business. Youll also be offering your client base a larger variety of products and services. This means youll be adding value to what you already offer, and increasing your profits at the same time.
4. Youll increase visibility
Youll be exposed to new markets that you may not have been able to reach on your own. I strongly believe in dominating a niche market. However, I also believe that you shouldnt throw business away when it comes from other industries/sectors that can benefit from what you have to offer, even though you may not necessarily target that market. By doing joint ventures youll easily get introduced to other potential markets, and this will in turn increase your visibility in the market place.
5. Youll build long lasting business relationships
Through wise endorsements, youll strengthen relationships with your clients and increase your network of business associates. This is great for future joint ventures, getting testimonials and other marketing opportunities.
6. Youll save time and money
Joint Venture marketing is a very low-cost and sometimes even no-cost strategy. This enables you to protect your cash flow. Youll save time on production and save money on operational costs by offering your clients new products and services (from your joint venture partner) that you didnt need to create yourself. Youll also slash marketing and advertising costs by sharing these costs with your joint venture partner.
7. Youll survive any economic climate
It doesnt matter if theres a downturn in the economy or whether the political climate is unstable. Youll survive all seasons and a slow economy and even during wars, joint ventures will have you laughing all the way to the bank!
Joint ventures can mean the difference between mediocrity and millions in a small offline business and any business for that matter. Start today by doing simple, short-term joint ventures and you wont regret it.
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.
To learn more about this step-by-step program, and to sign up for your FREE copy of her revealing Mini eCourse, "The Easiest Way To Skyrocket Your Profits In 90 Days Or Less," visit http://www.profitdiva.com
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