It’s always important to try and find the quickest, easiest (and often) the most cost-effective route to establishing a greater response to any marketing you do.
With this in mind one of the best ways of ‘getting in front of people’ is by establishing joint ventures.
Simply put, you are able to ride on the back of an established, credible, third party, who is already ‘talking to’ a stream of your ideal prospects.
So… You need to start building relationships with related, but non-competitive business owners that work with your audience.
With literally no marketing budget, you can quickly gain access to a flood of new prospects. And here’s how to do it:
So I’m now going to give a real example, not something I’ve read of out of a book and never tried! So this is an example of joint venture I personally put together with a local business publication.
Now I want to preface this, with the following point: “Don’t think THAT won’t apply to me. Instead think, HOW can I make that apply to me?” Here goes…
I quickly realised that my audience are essentially SMEs, small to medium sized business owners. Now, locally there was a business publication that went out once a month to business owners across Hertfordshire. Great. Lots of readers! So what was the next stage…
Instead of simply calling up the magazine and making an offer of a joint venture, I needed to firstly build a relationship with editor. Many joint ventures fail at the first hurdle, because you are simply asking for too much, too soon, and neither party really know or trust one another. So you need to build credibility.
This is critical — And often the missing piece of the ‘puzzle’ when establishing a joint venture.
So I attended, spoke at and got to know the editor of the magazine at various networking events. In other words I ‘courted’ him. Not literally, he was married… And well, I was spoken for?! This was not a ‘quick-fix’.
Then I went to him with an offer…
“If I put together a letter, promoting my services, would you agree to send it out to a sample of your list… In exchange for a commission on the any fees I generate?”
There are several points of note here:
1. The letter was firstly sent out to a sample: in other words the campaign was TESTED, as I didn’t know if my ‘offer’ or the ‘audience’ were compatible.
2. The editor/owner of the magazine benefits by gaining additional income stream from his list. (‘Sell different range of products and services to your existing list’)
3. The magazine readers would, I hope, gain added-value and access to additional, profitable services (‘Always give more value than anyone else in your field’)
4. I gain an additional stream of prospects, I might never have had the chance to get in front of (‘Position yourself as a Trusted Advisor’)
5. However… And this is also critical, the readers had a ‘regular dialogue’ with the magazine, and therefore would trust, value and respect the editor’s opinion.
Okay, so there you have it. As I mentioned earlier, joint ventures can be both extremely cost-effective, and profitable. Especially as you are able to piggyback off the back of an established, credible, third party, who is already ‘talking to’ a stream of your ideal prospects.
Using the above example, how could you make this work for you?
Andrew Ludlam, Director of Maverick Marketing Consultancy, is a business growth and client attraction expert. A qualified business advisor, marketing consultant and direct response copy writer, Andrew works with business owners at all levels, who want to learn the right way to market their business. Essentially Andrew works with anyone who is great at what they do, but struggling to attract more clients.
Maverick Marketing Consultancy
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Photo Credit: Jeff Bauche