Monday, 7 January 2013

A Few Pros And Cons Of Joint Venture Marketing

A Few Pros And Cons Of Joint Venture Marketing

By Randall A Magwood

With joint venture marketing, a few things can go wrong with the campaign. You can either make a lot of money with it, or you can lose a lot of money - and time. But you'll never know until you try. Joint venture marketing success depends on so many things, so it's best to make sure everything is up to par, and that you have your stuff together when approaching a possible JV partner.

In today's lesson, I want to go over some of the pros and cons of starting a joint venture. I'm sure you're probably already aware of a lot of the pros that I will list here today - but you need to be aware of the cons also. With knowledge about both sides of the game, it will help you to make wiser decisions when choosing possible joint venture partners. Here's the first pro of JV marketing:

PROS

- You can launch a business

Many businesses have been launched due to JV marketing. Small companies who are trying to compete with the "big boys" find themselves in a desperate situation. Because it's either they can last with the competition, or they will go out of business. So what do they do? They form joint ventures!

A good partnership can really propel you to the top. You can get immediate sales, brand new customers to market to, find new business alliances, and even get more leads. Here's another pro to JV marketing.

- Get started without a list

If you have a product, but no list, you can form a joint venture with someone in your niche who has a big list - but no product. As long as your product fits the demographic of your JV partner's list, you will be good to go. Give them a review copy of your product, and wait until they give you the approval. Once everything is approved, you can start seeing sales right away - if the niche and the product is right.

Now let's talk about some cons.

CONS

- You have to split the money

In the ideal world you'd be able to keep 100% of the profits, but it just doesn't happen that way. You will probably have to offer a 15% to 60% commission for each sale that the JV partner brings for you. Some partners will want a high commission fee, so if the math still adds up and you're still making profits... you will be good to go. Here's another con:

- You have to provide tracking

With a website like "1shoppingcart", tracking stats for your joint ventures is very easy. Sign up to this service and set up a special campaign for your JV partner. Give them their name and password to check their stats, and tell them that it's accurate. 1shoppingcart is a very good service that can track the campaign for you.

As you can see, joint venture marketing has its pros and cons, but mostly, the pros outweighs the cons. So if you're looking to earn more money in your spare time, without much cost... be sure to use JV marketing in your online business today.

Good luck with having success with joint ventures.

ABOUT THE AUTHOR: Randall Magwood is one of the most respected and highly-regarded online marketing experts on the internet. He has a website about internet marketing that helps small business owners learn how to market their business online simply and easily. To learn more, simply visit his website here: Internet Marketing Secrets

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