If you’re looking for ways to take your business in a new direction, but not sure where to start, consider a joint venture marketing partnership. A joint venture marketing partnership is one of the fastest growing and most effective ways to infuse new life into an already successful, but perhaps stagnant business.
To stay on top in the business world, even if your current business is a success, you must always be looking for new ways to gain exposure and new customers. Building and maintaining a solid base of loyal and regular clients will be the bread and butter of your business, but continually gaining new clients and exposing your business to new customers will be central to the future of your success.
A joint venture marketing partnership is created when one or more business gets together to share marketing strategies, ideas, plans and expenses. A joint venture marketing partnership can be so successful because it incorporates experience and expertise from various members of the business community. You may be at the top of your game in your niche, but there is always more to learn, and partnering with another successful business can help give you the extra edge you need.
The Next Step
If you run a small business, it may be difficult to conceive who to approach to enter into a joint venture marketing partnership, or even how to get started. And, if you run a small, online business, chances are that you don’t have a large marketing team or budget to go to for opinions and guidance, so it is likely you’ll have to do the brainstorming on your own, or with one or two other top officers in your company.
Joint venture marketing partnerships are easiest to handle when your business is small and when you’ll approach other small businesses for potential partnerships.
If you are taking this next step on your own, what you’ll need to do is to think of businesses that have a similar client profile to your own, but who will not be offering the same products and services. You want to seek out businesses that have an existing client base of customers with similar needs, wants and lifestyles to your own clients.
If, for instance, you are a small company that offers pet care products, your client base will obviously not target people who are not pet owners. What you will want to do is to find a company or series of companies that have an existing customer base of pet owners, but whose company doesn’t sell pet care products, or at least not the same pet care products that you do.
In this particular instance, you might want to form a joint venture marketing partnership with dog walking agencies, animal hospitals or veterinary clinics. The idea here is that you would share marketing campaigns with these other business, since each of your existing client bases may have use for the others products and services. Just forming a joint venture marketing partnership with one company has the potential to exponentially increase your client base and website traffic.
Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing & Consulting firm empowering business owners to discover and implement Integration, Alliance, and Joint Venture marketing tactics to solve specific business challenges and increase profits. To read more articles related to Joint Venture Marketing, please go to his Joint Venture Blog Site. He can be reached at christian@synertegic.com
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