|Affiliate Revenue Information|
Leverage Your Way to Profits With Joint Ventures
You can't conduct business on the internet for very long without hearing the term "Joint Venture", but do you really understand them or how and why a Joint Venture works?
In broad, simple terms -- a Joint Venture is partnering with others to create a win/win situation for everyone involved.
But just what does that mean? How do you identify a good Joint Venture situation? How do you structure the partnership so that everyone wins? How do you approach a potential Joint Venture partner? There are tons of questions, and I'll try to answer them all.
At the very heart of Joint Ventures - what makes them work, and why they are more effective than other marketing strategies - is something called leverage. At the end of this article, you should understand leverage and have a number of ideas about how you might incorporate Joint Ventures into your own marketing strategy.
Joint Ventures are a way to leverage someone else's money, customers, opt-in lists, marketing muscle, credibility, products, influence, whatever - to create benefit for both. The most sought after benefit is probably immediate revenue and profits, so the first few examples will concentrate on those. But, your aim might be to:
increase your subscriber base, increase brand awareness in a new market, reduce or share certain costs, gain valuable information or skills, etc. so later, I'll explore some of these, too.
The examples are just intended to spark your imagination. Whatever you do, don't be limited by them. They are just examples!
Most joint ventures are unique, and the best joint ventures will be created by applying your own imagination and creativity to form the best win/win situation for you and your JV partners.
First, let's look at the most common Joint Venture opportunity on the internet.
Affiliate Programs :
Some will debate that there has to be some exclusivity, some limited number of partners - to qualify as a Joint Venture. I would direct you to the definition I gave above - and contend that an affiliate program satisfies that definition.
Besides, affiliate programs provide us with a very well understood example of the relationship between the partners. If you choose to limit the definition for your own purposes .. fine - but let's make use of them as a common frame of reference.
With the typical affiliate program, there is a single benefactor and as many promoters as possible. The owner of a product (benefactor) sets up an affiliate program in order to leverage the customer and opt-in lists, and the recommendations of the promoters (affiliates) to sell more of the product.
The merchant benefits through sales to web surfers, newsletter subscribers, etc. that he would otherwise have no way to contact - through the direct marketing efforts (including recommendations) by each affiliate.
The affiliate benefits by letting the merchant supply the sales copy, order fulfillment, and customer support - and, of course, through commissions on each sale made as a direct result of their promotions.
Those are the immediate, tangible benefits. There is more.
The merchant also collects contact information from each buyer, as a part of the ordering process. This allows the merchant to build their list of responsive contacts, so they can market to them directly in the future. They might even upsell additional products at the back end of the ordering process.
The affiliate also strengthens the relationship with their readers, past customers, etc. by virtue of having recommended a worthwhile product to their leads.
So both have leveraged the assets of the other to their own benefit.
Now let's look at a variation of the affiliate program. Let's say a merchant is readying a new product for the market. They have built the basic sales and order pages, but want feedback from others (a review) and need testimonials for the sales page to help convert leads to sales (even the gurus face this - no man is an island).
Product Endorsement :
You'll realize very quickly that the Affiliate Program is just a form of the Product Endorsement Joint Venture that we'll talk about now, so hopefully we have taken a commonly understood form of internet marketing and will begin now to expand the scope, and your understanding.
In the Product Endorsement Joint Venture, the merchant might approach a "smallish" list of known marketers with a Joint Venture proposal that provides them a free copy of the product to use and review, and an opportunity to be one of the first to recommend the product in the marketplace (once everything is ready for product launch).
The Joint Venture between the merchant and these marketers can be structured in many ways (in fact, each may be unique), but let's just play out a typical scenario for the purpose of an example.
First, the merchant is going to want maximum exposure and the most professional marketing he can get - so the "smallish" list will typically be a list of "super affiliates" that have demonstrated their ability to get their prospects to "click thru" to the sales page. For the most part, the merchant is also going to want his testimonials to come from recognized names - so this same list of "super affiliates" probably meets that criteria, as well.
The merchant approaches his list of potential JV partners with a free copy of the product, and gets the badly needed testimonials for his sales page in return. The JV partners will get additional exposure from having their testimonial on the sales page for the merchant's product. Not a bad deal for either, so far - but the whole package carries a lot more value for both.
Everyone who reviewed the product is also now in an ideal position to give a recommendation to their list, and (assuming they have the trust of their past customers or readers) should be able to direct a significant amount of traffic to the merchant's sales page. But why would they do that???
Well, besides making sure he is offering a worthwhile (and in demand) product - the merchant can offer premium commissions for any sales that are the direct result of the JV partners recommending the product, and can let them promote before the product is released to any other affiliates.
The merchant probably has to give up a larger percentage of each sale to get these recommendations, but they will produce many more sales than an affiliate simply pasting a banner on their web site. That's not a gamble, it's a certainty!
In return for the personal recommendation, the JV partner gets a higher commission, and early promotion rights (before the market is flooded with competitors making the same offer).
You could be either party in this partnership (many of the product gurus also make a fair amount promoting others' products).
So, now ... let's assume the merchant is YOU! "But, I don't know any super affiliates!", you say. We'll come to that later.
Or maybe you don't see yourself creating unique products and dealing with order fulfillment, customer service, etc. If you are satisfied marketing others' products, maybe all you need is to get in on some of those "super affiliate" deals - so you get some of those first promotion rights.
There will be plenty of opportunity for you to check this out later.
The above example is one of the more common ways to structure a Joint Venture, and product promotion brings the most immediate return - but you can partner with others in many other ways.
Copyright 2004 Russ Shearer
About The Author
Russ Shearer shows how to leverage the powerful resources of the big-wigs with Joint Venturing.
Work at Home Ideas and Opportunities
Ordinary people are making extraordinary money working
from home on the Internet with Rush2Profit.com.
How to Succeed With Any Affiliate Program
In the early days before the internet was born, starting a business was like taking a giant leap into the unknown. Aside from the involved time and money, it also causes lots of worry. However, if you are fortunate enough, for sure your business was a success, but then there are many who were doomed to failure. Thanks to the internet because it has evolved and those who failed might have the chance to make it.
Selling Merchandise On Your Website
If you take away poker, dating, and naked ladies, custom merchandising is the big success story of the Internet. The ultimate combination of e-commerce and affiliate marketing, millions of websites around the world turn to online merchandising companies - both to market their URL and to extract some cash from loyal visitors.
How Affiliates Can Have Their Own Radio Show...
Before we start, I want to ask you one simple question. If you knew what you know today about how big blogging would be before it started, would you have started a blog? Well, in that case, you better pay close attention to podcasting!
Generate More Sales in ANY Affiliate Program ? Part Four
VISUALIZE, STRATEGIZE, ENERGIZE, REALIZE reprogramming is the subject today.
The Key to a Successful Affiliate Program
Two Christmases ago I tugged on one of those paper crackersand after a small bang, out popped a piece of yellow paperthe size of a credit card.
Choosing the Right Affiliate Program
Requesting information on an affiliate program is an open invitation to receive never ending submissions to your email account. It can be overwhelming to look at. You may feel as if you have been invaded. It can frighten a person into hitting the delete button very quickly. HOW DO YOU SORT THROUGH AND MAKE SENSE OF IT ALL? How do you know which programs really work? Following is a list of things to think about prior to choosing an affiliate program.
The Logic Behind Niche Content Profits
In researching most successful online businesses, you start to notice a trend emerge. As far as websites go, there are a few giants such as Yahoo and MSN that cover every topic imaginable. For most people, taking on these established publishers head to head is an enormous task beyond their reach. After all, one or two people working from home or in their spare time cannot match the resources (billions of dollars and thousands of employees) of these corporations. At least not in all areas.
Pros and Cons of Third Party Online Affiliate Networks
Online affiliate marketing has taken the internet by storm and has proven to be a highly effective way of maximizing website revenue. Why limit yourself to selling your own products when you can profit by selling somebody else's too?
Accounting for Affiliate Marketers
If you are an affiliate marketer, then you are in business. Therefore, you should treat it like a business. Keep in mind that Linkshare, Clickbank, Commission Junction and all the other affiliate marketplaces are going to report your earnings to the IRS.
Safe Surfing in Shark Invested Waters
Paid to surf sites are washing across the Internet like a tidal wave. As powerful waves settle, new sites pop up out of the foam like tiny islands. But are you likely to get beached with Gilligan and the Crew, or end up on Fantasy Island with Mr. Roarke and Tattoo?
Why You Dont Succeed As An Affiliate ?
Affiliate Program have exploded on the internet. Thousand of people join them every day. Amazon.com is probably the best example of such phenomenal success.
The Affiliate Model ? How To Make Money As An Affiliate
Affiliate programs are a very easy and effective way to make money on the Internet right? so how do they work?
WHAT! Internet Etiquette / Net Etiquette?
Many people know how -- and do conduct themselves in the real world properly. However, many people are unaware that this same conduct needs to be applied online as well. Net etiquette is basically the rules you should follow while in Cyberspace. These seven rules are what I learned on my Cyber journey and what I try to follow while on the Internet ? let's see if you agree.
Customer referrals are vital to small and home-based service businesses. When you need to increase sales but can't afford a salesperson and have limited selling time, focus on existing clients and let them do the selling for you. Most business owners understand the value of referrals, but not many are doing what it takes to get them.
How To Become A Data-Feed Super Affiliate
I am not going to describe what a product feed (or a data-feed) is. There is a lot of information out there about how to use one to build sites. Instead, I want to talk about how you can actually make more sales with data-feed sites.
Discover The Affiliate Program thats Right for You
Are you looking for a profitable Affiliate Program?
Mining For Gold With The Best Affiliate Programs And Hitting Pay Dirt
Colin McDougall tinkered around with affiliate programs earning a few dollars, nothing much to write home about, even had his own e-commerce site, known as the man's mall. In theory that site was supposed to offer all sorts of gadgets for guys. Colin created the site with the concept "build it they will come" but in reality no one did. Like so many dot.com ventures, it was a huge disappointment, lots of hard work and no pay off.
Guaranteed Signups - Scams or FastTrack Growth?
One thing that seems to be cropping up in many online Forums (of which I am a member of a few) in recent months is Guaranteed Signups for various online Affiliate and MLM programs. It would appear from the trends in those discussions; that there is, to some extent, a lot of confussion about definition. A decent number of companies or websites offer this service and a Google search for the term returns over 57,000 hits along with a huge list of PPC Ads. This post is about determining whether Guaranteed Signups are scams or they are a means to FastTrack growth and increasing your earnings from online Affiliate programs. Are they worthless However, the first order of business would be to define or describe what Guaranteed Signups are or are not.
Affiliate Income Optimization
In my time researching the search engines, I've noticed something rather strange. Literally millions of searches are made each month for "brand names" and actual site names. For example, on Overture alone, last month, there were millions of queries made for the term "internet explorer". Having been on the internet for around seven years (running sites for over five), I've naturally assumed that people use it the same way I do. So, I know that internet explorer is a Microsoft product so I just type http://www.microsoft.com into my browser.
Affiliates Need To Read Their Newspaper
Millions of people check the news everyday-- in the morning paper, online, and on the nightly news.But far too often affiliates do not find out what has occurred in affiliate marketing that day; this is important because affiliate marketing changes daily.There are many resources for affiliate marketers to learn about the day's happenings. The best way to learn about the changes in affiliate marketing is by visiting forums often.
|home | site map|