The term “shortcut,” particularly in business, is often considered to be almost as offensive as four-letter word. But when it comes to building a successful marketing platform for your Internet business, setting up shortcuts to make your work easier and more successful is indeed a good business strategy.
Joint venture marketing offers just such a legitimate shortcut that can decrease your workload and increase your profits. Forming a joint venture marketing partnership is an excellent way to breathe new life into your marketing strategy if you are in a bit of a rut or just entering into the marketplace.
Joint venture marketing is a strategy where your business forms relationships and partnerships with other companies who can assist with advertising and getting the word out to their clients about your business, products and services. You, in turn, do the same for their company. A joint venture marketing partnership is a mutual, reciprocal arrangement where both parties benefit equally from the arrangement.
Exponential Results
Joint venture partnerships can incorporate more than two companies, and the more companies you incorporate into your platform, the more results these partnerships have the potential to yield.
Of course, you don’t want to involve so many companies that managing the joint venture partnerships become overwhelming, but keep in mind that the more businesses you do incorporate into your strategy, the more contacts and clients you have the potential to reach. This gives you the potential for results that are exponentially proportionate to the results you could achieve either on your own, or with just one joint venture marketing partnership.
Building Strong Relationships
Joint venture marketing is a subset of the relationship-marketing platform, in which customer relationships are put at the forefront of the company’s concerns and attention. In a joint venture marketing partnership, client relationships are still the central focus, but you simultaneously develop relationships with other businesses as a way to expand and further your client relationships. A successful joint venture marketing partnership has the potential to significantly increase your client base, and the stronger your relationships with your joint venture partners, the more potential for an increased client base you will gain.
We all tend to go the extra mile for people we like or care about - it is simple human nature. Relationships are the focal point for all marketing platforms, and the stronger your relationships are with your partners, the more you are likely to get out of the relationships. This is a somewhat calculated maneuver, but it is something that develops naturally. You are not pretending to like people you don’t - it’s a matter of giving your partners extra attention and taking the time to get to know them on a personal level, as well as on a business front, which will help to enhance your professional relationship and bottom line. Forming a strong network of joint venture partners is a savvy way to increase your business, and a valid shortcut to gaining a wider client base.
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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