If you're looking to get into a joint venture (or JV), then it is a wise thing to do. Many businesses have been launched via joint ventures, and your business can be a success story if you do it right. There are some tips that you can use to improve the chances of your JV being a success, and this is what we will discuss in this article.
In this article, you will learn 4 ideas you can use to launch a successful partnership in no time at all. These tips will prove to come in handy when you're making your proposals to potential partners. Let's begin.
1) Participate in a link exchange
Link exchanging is one of the most common form of joint ventures and it's a potential way of getting free traffic to your website. Sometimes businesses will link directly to your website without you knowing it, and this is consider a "one-way" link exchange. This is the most powerful kind of link exchange available, and it is one that you should consider using right away.
However the topic of the discussion is "two-way" link exchanges, and it's where two businesses team up and exchange links with each other. It's not as powerful as a one-way link exchange since it suggests that a partnership is involved, but it still works to get traffic and increase your search engine rankings.
One of the best ways to get a two-way link exchange is to simply contact a potential joint venture partner about a potential link exchange. You will want to include the benefits of doing so and how your partner will profit from the potential alliance. This is great way to get traffic and is a form of traffic building that is very commonly done online.
Here's another great joint venture idea:
2) Writing reviews
You can write a review about your partner and they can write a review about you. You will want to post your review on a very high-traffic page of your website so that it can get exposure, and you will want your joint venture partner to do the same. Both your business and their business will gain credibility from the reviews, and it's a great way to increase the conversion rate of products on both end of the deal.
3) Selling products
This is the most classical form of a joint venture. What you do here is sell one of your partners products to your customer, or your partner sell one of your products to their customers. If you currently have an affiliate program and it pays 50%, you may want to consider giving your joint venture partner 65% -75% of the profits. You always want to pay your joint venture partner more than standard affiliates.
4) List building
This is also a classic model of joint ventures. What you want to do here is offer new subscribers the opportunity to join your partner's email list after they've subscribed to yours. This is a great way to build your email list, and your partner's email list also – and you will want your partner to do the same also. You both benefit from the increased opt-in leads, and the free subscribers from no work done on each part. This is very classical and is an excellent model to follow.
All 4 of these ways are great for gaining credibility and increasing your sales and profits. Be sure to start using them today to start seeing more sales tomorrow.