JV (Joint Venture) Partnerships

There are many benefits to a well matched and effective JV Partnership. For this article I want to discuss the differing types of partnerships, focusing solely on four key functions as the fundamental basic marketing tools that a JV Partnership can enhance for your business. As you read through it is a good idea to keep track of how you can creatively use these suggestions to customize your own efficient strategy that meets your partnership needs. Solo Emails One of the key functions of being involved in a JV Partnership is the swapping of email subscriber list. This allows you to increase the amount of current and potential customers who openly welcome hearing about what promotions are coming up within your business. These emails are a great time to cross promote for your JV Partner and vice versa. Here are some ideas to incorporate. 1.It's as simple as sharing a link to your partners website. 2.Reward your customer's loyalty by endorsing special deals provided by both your business and your partners business. Ex: This weekend only, 40% of your products/services AND 40% off your partner's products/services. This gives added incentives to your customers. Newsletters Whether an online or printed newsletter, there are a lot potential cross promotions available to you and your partner through this creative channel. Newsletters often combine pictures, colour and life into upcoming ventures and events. Consider: 1.Co-hosting events and/or seminars. There is more power and potential and less expense, when putting two heads together. These could be offered in your local community at libraries, trade shows, fairs, etc and recorded for future use online. 2.Make room on the newsletter for an ad spot promoting your partner's business. Guest Blog Post If your business is currently hosting audio, video, or article blogs or if you are thinking about starting a blog there is great potential within this marketing tool for guest speakers. Blogs are a fantastic way to showcase the interconnectivity with your partner. These guest spots don't have to be huge spots but the point is to be informative about what your businesses provide and customer satisfaction. Try: 1.Trading product/service reviews. It is very easy to boast your own business but it takes an elite business to show your customers why you back your JVP's products/services. 2.Trading customer testimonials. Social Media Post Word of mouth has always been a key element for any business. Social media spreads by the click of a key. These post are great ways to promote special deals, sales and giveaways. Who wouldn't want to spread that news? Some ideas for social media post are: 1.Donate prizes to your JV Partner and vice versa for contest and giveaways. This broadens the amount of people who want to participate and share your post. 2.Bundle service/product offers with your partner. Ex: When you pay to be serviced by my business you receive a coupon for a free product from my JVP. Article Source: Ezine Articles Robert_Stanek