Partnership Marketing means joining forces with one more business for
a mutually useful outcome. The result can be to build your list, to
sell a product or service or to raise awareness of your business.
Because there is a equally beneficial outcome, it is serious to very
carefully select partners that share your target market and offer a
approving service. Many businesses share the same kinds of customers and
clients and can significantly benefit by combining their efforts into
one synergistic move against each of them performing their marketing on
your own. There are various kinds of partnership Marketing. This article will cover Three of them.
Joint Venture (JV) Partners
A JV is when you and another business grow a program or service that did not survive before, market it together and share the financial result.
There are a lot of reasons to JV with others. You obtain to share the work, you obtain the benefit of promoting it to both of your lists which increases participation, you obtain to solve your target market’s problems in a new way.
Let me get your idea:
Affiliate Partnerships work in two traditions. You support another business’s products and/or they promote your products. There is a financial exchange in the form of a percentage of the sale or a flat fee. The goal in this type of partnership is to sell a product or service.
You should partner with more than a few businesses who share our target market, and they can then inform their lists about your program. When somebody from their list joins your program, the partner receives a profit of the sale. It is simple money for them, they get to provide their clients in a new way and I benefit by being showing to other people in our target market who didn’t know of us before. It’s a win/win! My favorite!
Let me get you thinking:
Referral sources, list builders and general promotions fall into this group.
There are a lot of people, your clients most of all, who are excited to give you referrals without compensation. On the other hand, if you have a formal referral program in position, your referrals are likely to increase radically.
I know of an energy healer who asked all of her clients for referrals and incensed them with a free energy session for each fresh paying client. With this one plan, she filled her put into practice in less than 2 months and had a waiting list!
Using partners to help you construct your list can be very beneficial. This is a plan that works well for online marketers, but also for brick and gun shops as well. General promotion can work fine too. For example, if you own a pizza store, you can promote the neighborhood child play center. In return, the party center can advise or require the pizza place for meals for kids parties.
Let me get you thinking:
Joint Venture (JV) Partners
A JV is when you and another business grow a program or service that did not survive before, market it together and share the financial result.
There are a lot of reasons to JV with others. You obtain to share the work, you obtain the benefit of promoting it to both of your lists which increases participation, you obtain to solve your target market’s problems in a new way.
Let me get your idea:
- Are you a financial schemer who works with divorced women? Create a teleseminar with a divorce notary that covers your top guidelines.
- Are you a real estate agent? build a workshop with a loan officer or mortgage broker that meets the needs of prospective first time home buyers.
Affiliate Partnerships work in two traditions. You support another business’s products and/or they promote your products. There is a financial exchange in the form of a percentage of the sale or a flat fee. The goal in this type of partnership is to sell a product or service.
You should partner with more than a few businesses who share our target market, and they can then inform their lists about your program. When somebody from their list joins your program, the partner receives a profit of the sale. It is simple money for them, they get to provide their clients in a new way and I benefit by being showing to other people in our target market who didn’t know of us before. It’s a win/win! My favorite!
Let me get you thinking:
- Do you have a spa? How about becoming an associate for a local fitness facility? You both share the aim of helping others look and feel great!
- Are you a life trainer? How about being an associate for a meditation coach? You both share the goal of helping other become self aware, reducing pressure and so forth.
Referral sources, list builders and general promotions fall into this group.
There are a lot of people, your clients most of all, who are excited to give you referrals without compensation. On the other hand, if you have a formal referral program in position, your referrals are likely to increase radically.
I know of an energy healer who asked all of her clients for referrals and incensed them with a free energy session for each fresh paying client. With this one plan, she filled her put into practice in less than 2 months and had a waiting list!
Using partners to help you construct your list can be very beneficial. This is a plan that works well for online marketers, but also for brick and gun shops as well. General promotion can work fine too. For example, if you own a pizza store, you can promote the neighborhood child play center. In return, the party center can advise or require the pizza place for meals for kids parties.
Let me get you thinking:
- A Feng Shui advisor can partner with a spa, massage therapist, energy healer, life coach, nutritionist
- A wedding advisor can partner with a flower shop, caterer, bed and breakfast, stationary store
- A flower shop can partner with a backyard center, stores in your area
- A small business attorney can partner with a branding organization, web site developer, marketing coach
