As you previously discovered in part one of this series about profitably using some simple, proven marketing ideas to create some incredibly powerful and profitable joint venture type of arrangements.
Hopefully, you can see and at least partially appreciate how you can start with nothing more than your ability to provide your long term bank account filling testimonials and or your ability to deliver long term repeat customers, through your referrals. Via your state of the art WordPress blog.
In my particular case, my coach recognizes that my current traffic, which I’ve invested time, money and effort to establish, has potential monetary value to both of us. And that’s one of the main reasons they reached out.
But in order to really make it worth their while, yours truly offered to sweeten the pot, that’s why they were offered 100% of the commissions from any and all of their affiliate and or banner ads placed on my site, in exchange for direct one on one free coaching access with them.
Think about the long term benefits of this type of joint venture arrangement.
How And Why Simple Marketing Ideas Can Turn Into Something Really Big!
First of all, put yourself in the shoes of a really successful entrepreneur/coach/mentor /JV partner. They’ve constantly got a lot balls in the air right? And they’ve got tons of students at different levels of experience and skills, correct?
And more being added all the time, right?
Now if you were in their shoes, which of your students (and potential JV partners) would you wanna invest the most of your extremely valued and oh so limited time with? Those that are really needy, even though they’re paying for your time?
Or the students that helped you put together a JV arrangement where your student sells your product or service and you get (not only) 100% of the initial front end commissions, but 100% of all the future back end sales, referrals and bank account filling testimonials as well?
In exchange for you (either) periodically getting on the phone or doing screen shares via skype, sharing your knowledge with this particular student that shows real long term money making potential? You got that right.
Now look this particular marketing arrangement at from my stand point, my coach recognizes and appreciates the type of passive long term income our arrangement can generate for their bottom line.
Now whenever there’s a need for real time (screen share) type of one on one coaching. My coach is more than willing to take the time, because they see our arrangement for what it is. Mainly an investment on their part!
Don’t Forget About The Less Expensive Side Of High Priced Coaching!
Think about it for a second. They’re trading their expertise in exchange for a chance to passively come in contact with some future customers/students they may upgrade all the way to a $10,000 dollar advanced coaching/mentoring program.
And all they had to do, in order to generate this long term passive income was periodically invest anywhere from 30-45 minutes personally coaching this type of student. (Yours truly!)
Now understand this type of JV arrangement doesn’t happen overnight! It took some time for the two of us to get to know, like and trust one another. And recognize the long term profit potential that existed between the two of us.
Then we started to creatively consider the really viable money making possibilities. Your typical affiliate /JV partner is all too willing to earn 25-80% of the initial front end sale of any of their coaches products or services,right?
But how many of them are willing to temporarily forgo 100% of all their initial commissions, in exchange for (either ) free or greatly reduced one on one beginner to advanced personalized coaching sessions!
That’s the other thing not to be lost in the sauce. Suppose one of your coaches sells (either) a digital or a service that sells for $297 dollars and you get 50% of the commission. Which means each sale is worth $148 minus your cost to produce each sale, correct?
If you value their expertise enough, why not forgo the entire commission, in exchange for some really advanced on or offline marketing training/coaching! You’ll dramatically speed up your learning curve and your long term money making potential! Don’t you agree?
Please list at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
As always, if you got any value out of this post, please Digg or tweet this. Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series, because it will help you increase your profits by at least 25% in the next 90 days or less.
And help you master your effective communication in marketing skills.(No matter what your particular niche market is.)
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Impressive strategy Mark! I worked as a small business coach for over a decade and know many others who are still in that field, but no one who’s taken this approach. Oh, plenty of them “donate” a certain amount of time helping people – I certainly did – but again, no one who’s taken a JV approach to doing it. Thanks for the inspiration!
Marquita Herald recently posted…Standards Shape the Quality of Your Life
You’re so welcome Marquita!
Yea, most coaches that interact with their students might give you
a break on their various coaching fees, but if you wanna really
get the most out of your relationship.
You gotta find a creative way to tap into their enormous skill, knowledge and
abilities!And connections!
Thanks for your positive feedback and support! Both are greatly appreciated!
Hi Mark,
You are foregoing the short term benefits (earning a commission) for long term success. Your business will reap the benefits of you taking advantage of great coaching and reducing your learning curve.
Your coach, on the other hand, has gained much knowledge overtime and can share that knowledge with you and he realizes you have something very beneficial to him – he can access your subscriber base with the opportunity of converting them into customers.
You both benefit but I must say in my view you are getting the sweeter deal because no matter what you gain something that never goes away – knowledge! Thanks for sharing.
Nathaniel Kidd recently posted…Become a Frugal Farmer
Bingo! I couldn’t agree more Nathaniel!
Yes, without a doubt, we both benefit and as you so astutely point out,
my coach is interested in the immediate opportunity to monetize my traffic and I’m
more than content to get a quality marketing education!
We both as far as I’m concern, definitely win!
Thanks for stopping by and sharing your extremely keen insights! Your support and feedback are
greatly appreciated!