How to Get Other Businesses to Promote You For FREE

June 29, 2010 by  Filed under: Advertising 

Imagine having to choose between two advertising options. Both options make the same offer, use the same copy, have the same cost and reach the same prospects.

In fact, both are exactly the same in every detail – except for one small difference.

Yet that single point of difference means that one of these advertising options pulls in as much as 10 times more customers than the other!

Now if I were to ask you which of these advertising options you would choose, I am sure you would go for the one that generates 10 times more customers, right?

In fact, this same option is arguably the single most profitable advertising strategies you can use…

Yet surprisingly, I have found that it is also one of the least used by small business owners.

I’m talking of course about joint venture marketing – and it’s not what you might think.

Ok, here’s an example!

Let’s say you own an accounting firm and you convince a computer store to mail their customers a free tax analysis from your business, knowing that the majority of people who respond will also buy other accounting services from you.

Well I know of one such joint venture that generated around $6 million worth of free business for the accountant. That’s right – $6 million!

Best of all, the partnership meant the computer store also got a commission of this new business.

In fact, this same computer store managed to add almost 30% more profits to their business using this strategy, and with almost no extra cost or work.

And this is just one example of how joint venture marketing can work! There are many more!

So why joint venture with another business owner?

1.Joint venture promotions can give you a higher return on investment than almost any other type of advertising medium available to your business. That’s because advertising response rates are always far higher when you send it to an existing customer base than when sent to a list of new prospects.

2.Joint ventures also let you tap into massive, yet hidden profit streams you never knew existed. By gaining ommissions selling other people’s products to your customers, you not only increase the value of your own customer base, you also add a lucrative new profit stream to your business with no extra work. The computer store story is just one example.

3.Best of all, many joint venture promotions are quick, easy and free or close to free to run. Anyone can do it right now with almost no extra work or outlay.

So why don’t more businesses run more joint venture promotions?

Interestingly, I’ve found that the reason isn’t because joint venture partners are hard to find.

The real reason is because business owners don’t know how to approach and convince potential partners to joint venture with them in the first place.

And this can be harder than you might think.

Firstly, you have to convince your potential partner that they can trust you to pay them their commissions.

Then once you cross that bridge, you have to then convince them that your product is worth promoting to their customers.

After all, most business owners won’t risk the existing relationships they have with their customers for the sake
of a quick dollar.

But the good news is, once you have overcome these two objections, putting together a joint venture promotion is not only quick and easy to do, it is also amazingly profitable for all concerned.

Do you want to learn the easiest way to get more customers fast? I have just completed my brand new guide “7 Ways to Get More Customers” where I outline everything so it’s as easy as 1, 2… 3. Download it for free by visiting http://www.copywritingthatsells.com.au

Article Source:

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Scott Bywater - EzineArticles Expert Author

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