The benefits of joint ventures equals big bucks!
(Especially If Money Is Tight And You Don’t Already Have An Established Customer Base!)
Do you currently have a place where you regularly get your hair cut and or where you get your taxes done?
If you’re answer is yes, then ( my friend) it’s already very possible, and highly likely that you’ve already planted the necessary seeds to reap the exciting (and oh) so profitable benefits of joint ventures (aka) powerful strategic alliances.
Because part of the enormous free marketing leverage that can be obtained by strategically using powerful joint ventures, comes about when you maximize the personal leverage you already have, as a result of your being a valued customer and or client of theirs.
Building A Business Is A Whole Lot Easier When You Leverage Other Non Directly Competing Vendors Various Tangible And Non Tangible Assets!
Think about it for a second, which one of these two scenarios are most likely to occur.
A.) A total stranger you just met at the grocery store, happens to suggest a movie while your small talking standing in the check out line. How likely are you to rent it from the Red box movie rental kiosk located inside the store, on your way out the door? On the other hand.
B.) A close friend, relative and or trusted associate, (or) long time customer or client (highly) recommends some movie.
Now how likely are you to either order it immediately, (via) pay per view/movies on demand, (and or) rent it from the Red box kiosk the next time you’re at the grocery store? 😀
Obviously, you know what the correct answer is. Right?
Successfully Building A Small Business Is A Whole Easier When You Consistently Do The Right Kind Of Power Networking!
So by the same token, currently you (and) your most valued associates already have established (over the years), excellent personal relationships, with at least 20-25 other local small business owners and or service providers, who already know and trust you, because you’ve been a valued customer and or client of theirs for so long.Correct?
It’s high time you used that trust to help both of you grow your businesses up to 25% faster, and spend up to 75% less than it’s costing each of you separately to do so! And of course it’s doesn’t matter what your particular niche is. Sound good?
Introducing Three Incredibly Powerful Ways You Can And Will Benefit From Powerful Joint Ventures!
1.) Strategy # one: Let’s suppose for this first example that you own a small ladies boutique shop,which specializes in exotic women’s fragrances and other rarely seen nick knacks.
And you’ve been going to get your hair done at the same hair and nail salons for the last five years.Which means- you know both the owners and their main three hair or nail stylist very well.
Whether there is a recession going on or not, this is the type of strategic alliance which just plain makes sense.
You suggest the hair stylist offer one of your most popular (best selling), mini size sample bottles of women-s perfume (as a free) upsell bonus product for any customer that upgrades from a simple hair or nail touch up valued at X.
To a basic hair touch up and nail job! So (strictly) for example purposes. They gladly go from spending $22.50 for the hair touch up, to an upsell by spending an additional $11.25 or X more! To save 25 (or X%) off the normal cost of $15 dollars to get their nails done.
You Can Definitely Start Branding Your Business And Or Service With The Right Approach!
So instead, they now spend a grand total of just $33.75 to get both services, (instead) of the $37.50 they would normally have spent to get both their hair touched up and their nails done separately.
And on top of that, they now offer their clients the added bonus of this free mini sample of one of your best selling womens perfumes, plus a business card that says, “Bring this card in before the expiration date listed along with a friend, (at least 18) whose not already a customer!
And receive one 16 oz. bottle of the same fragrance, or any other you prefer for free!”
You can bet a certain percentage of them, (roughly) 10-40% will (constantly) take you up on it!
Look at the net results. The hair salon just found an incredibly simple way to systematically increase their profits without increasing their overhead and you just found a very profitable way to reduce your lead generating costs by as much as 75% or more!
Knowing Your Customers Total Lifetime Value Can Be Extremely Profitable!
2.) Strategy # two: This next simple, (yet) extremely effective low cost, high powered marketing strategy piggy backs off strategy # one extremely nicely.However, in a very different way.
For ex; another little known secret to potentially increasing your sales is by strategically offering a very powerful, (much) more encompassing warranty and or guarantee/grace period, as a much reduced price type of upsell product or service, in exchange for spending X amount more dollars now.
Meaning- if they spend (or invest) just $.99-$15 dollars more for this very special bonus guarantee/warranty product/service etc; their covered for an additional 50-150% longer than the standard guarantee/warranty period!
Strategically Branding Your Business Is Like Is Like Hiring An Expert PR Team To Help Quickly Spread The Word!
But here’s where the potential joint venture (JV) part of it comes in. You can throw in free on top of all that, some extremely popular product and or service, that your top JV partner(s) offers to really sweeten the pot, and practically make your offer irresistible!
For ex: Suppose you sell various computer software packages. You could throw in a very special “first time customer” discount coupon from one of the top rated local computer repair specialists, that entitles the coupon holder to their first ‘data retrieval’ job for just $65 dollars instead of the normal retail price of $150.00 dollars or X!
That’s an incredible savings of 57%! ($65/$150=.43.33%) If your customer buys your discounted software virus removal security package.
Including Some Type Of Relevant Bonuses Is A Great Component To Have In Your Sales Funnel!
And if the computer repair service is savvy enough to understand the “Lifetime value of a customer” concept, they automatically realize the potential long term benefits of inexpensively lead generating this way!
Even if they just broke even on that first transaction! All the potential future sales they’d constantly make from long term repeat customers.
(Not to) mention all the referrals and positive word of mouth testimonials, would be more than worth it over time! Don’t you agree? 😀
Developing Really Good Lead Generation Skills Will Definitely Save You Time And Money In The Long Run!
3.) Strategy # three: This next proven strategy is another way to piggy back off one of your top (most respected) JV partners reputation. Suppose you’re just starting out and you don’t currently have much of a list or any list at all.. 😀
But you do have to have an established personal relationship with a respected expert, (be it) on or offline. Suppose,however, for this particular example that you want to strategically build
your VIP opt in email list, in order to save money on ever increasing postage costs.
Suppose that your friend is an SEO (Search Engine Optimization) expert, and they currently charge $250 dollars per hour, (or X per hour) to consult with their customers and clients.
Since they obviously incur some type of upfront cost to find new clients.Right?
Why don’t you suggest the following joint venture arrangement.
Who Says Your Sales Funnel Can’t Have Multiple Profit Centers!
You’ll inexpensively lead generate for them by offering any of your new leads (potential clients), a greatly reduced “New customer” discount coupon, that saves new potential first time customers a whopping 40, (or X% off) the cost of their first paid consultation with the SEO expert!
So just for joining your VIP email list, they can save $100 dollars ( or X amount) if they decide to pay for a consultation with your friend!
And you get started building your email list and (hopefully) start increasing your online profits as well!
In part two of this series, you’ll discover at least three more powerful secrets and benefits of joint ventures.
As always, if you got any value out of this post, please Google Plus or tweet this. Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series. It’s a $97 dollar value and it’s free!
