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Two Methods of Marketing Using Joint Ventures
Whether you're a contractor a local merchant with 150 employees, whichever, however or whatever, you've got to know how to keep your business alive during rougheconomic times. Anytime the cash flow in a business,large or small, starts to tighten up, the money management of that business has to be run as a "tight ship." This is where an Honest Joint Venture will help increase,not only business sales, but strong business relationships.When things go together, they're said to be complimentary. An example of two items that might go together are flowersand baskets. If you're in the market for one of these two items, you might be in the market for the other. You may be able to increase your business marketing efforts by combining the marketing of one of your products or services with the marketing of someone else's products or services. There are two Methods of marketing using Joint Ventures: External joint venture marketing- You combine your marketing with that of another business that uses a product or service that compliments your own. You both benefit from the exposure and your customers will be looking to this other business for its complimentary offering. Likewise, the other business, andtheir customers will look to you for their complimentary products or services. You both access each other's customer database. An example would be a cabinet maker and a hardware store that could work together. Internal joint venture marketing- You probably offer complimentary products within your own business. If this is the case, you need to market this so potential customers will be aware that your business offers certain products or services that compliments each other. This encourages one stop shopping and also allows your business to sell one product or service on the back of the other. An example is 'computer repair store' that also sells virus protection software. I've actually seen one business that sells a course on how to write successful marketing campaigns. The majority of their customers never find out that in addition to selling that course, they do consulting and write marketing campaigns themselves. They don't do an effective job of letting their customer base know that Those things naturally go hand-in-hand. Another kind of internal joint venture marketing would be a combined location or common business. You can have businesses that shares a common location such as a mall or a strip mall shopping center. They can market their businesses as complimentary to each other. This can take a number of forms, but the most popular is sharing the media cost. An example would be a strip mall with a number of home improvement products or services. You want to take advantage of this either by phone or by sending the other business a letter. You might say, "Dear Mr. or Mrs. Business Owner. Our company specializes in (or sells). We have discovered a logical tie into your business or customer base in that it . We have created a system for dramatically increasing your profits without risk, investment or even effort on your part". Where you say, 'Mr. or Mrs., let me ask if you could generate sufficient profits to - would that interest you?' The process is relatively simple. First, we create a joint marketing plan together to consist of either (choose 1 or 2 of the following)a letter of endorsement from you, a telemarketing campaign, a seminar, workshop, sales presentation, display or design a customer/client newsletter, or a display ad. We will share the profits on a 50/50 basis etc." You may publish this article in your ezine, newsletter on your web site as long as the byline is included and the article is included in it's entirety. I also ask that you activate any html links found in the article and in the byline. Please send a courtesy link or email where you publish to: support@multiplestreammktg.com Copyright © 2005 Abe Cherian is the founder of Multiple Stream Media,a leading performance-based Internet advertising company dedicated in helping small businesses createonline presence, brand recognition and online automation.Main company web site: http://www.multiplestreammktg.com Abe Cherian's online automation system has helpedthousands of marketers online build, manage and growtheir business. Learn how it can benefit you too.
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The musings are usually brief, but they are published frequently and consistently. People can subscribe to receive the blog updates via e-mail. Often, the blogger is an expert on the subject he/she is discussing. At first glance, it doesn't appear that blogs would be at all disruptive. So why all the hype? If we look closely at the structure and intent of blogs as a communications tool, we can see some powerful ideas at work. Blogs are a direct, one-to-many vehicle for communicating ideas. They expand an individual's ability to communicate. They are fresh and timely. The blogger, in order to maintain interest, must communicate often. Blogs enable a single person to share ideas, insights, and useful knowledge with an audience. Thanks to the Web, the audience can be a global one. Whenever a new tool or process-such as e-mail- expands communications, the effects are far-reaching and dramatic. Even though blogs have been around for 3-4 years, they could be the next big thing. Blogs Are The "Real Voice"Two important characteristics of blogs are that they are written by a person who is knowledgeable and passionate about the topic, and that they are written in a "real voice." This is a cosmic shift from the marketing and public relations materials that are the staple of business communications. Often, when information goes through a formal marketing or PR process, the end result is an attractive, expensive, stale, diluted document written in corporate speak. This result is generally due to the processes that evolved to accommodate the costs and standards of print technology, rather than to the incompetence or malevolence of corporate communicators. The edge, the authenticity, and the voice of the professional speaking to his fellow professionals is lost. Blogs offer the human voice that can be loud, controversial, and even wacky. But the realness of the blog inspires trust and piques people's curiosity. A blog can create a community and a dynamic discussion. If you are a product manager working in the chemical products industry, chances are that you would rather hear about the real experiences of other product managers in your industry than read a glossy marketing piece put out by the marcom department. Blogs fit this communications requirement perfectly. Blogs Are SimpleWeblogs are easy for people to publish, read and respond to. They can foster a community of like-minded individuals and be the catalyst for spirited discussions. Blogs are an inherently proactive form of communications. Weblog participants can subscribe to receive scheduled postings to the blog. Weblogs are inexpensive to produce and they can include a variety of multimedia content (audio, video, files, etc.) and hypertext links that add value to the discussion. Blogs Empower The IndividualThere are a host of tools on the Internet that make blogging a snap! Blogs empower a single person to capitalize on the reach and ubiquity of the Web. And they don't require the investment or recurring costs of print technologies. Blogs Empower The EnterpriseBlogs empower the knowledgeable people within a company to share their insights, know-how, and expertise. The value to a corporation is that this knowledge can be organized, distributed, and leveraged to increase the value of different product and service offerings to the customer. If a corporation is going to use a blog, however, it should understand that controlling the content of the discussion is difficult. If you want an authentic exchange, you have to be willing to accept the stone-throwing and critical comments that often occur in a blog. This requires extending trust and giving up some of the control a company would normally have when it publishes a press release or hosts its own online forum, for example. The upside is that people will listen to a real voice. Adapting Blog Concepts To Your Newsletters You can adapt blog technologies to your corporate electronic newsletters by taking advantage of the underlying concepts. You can, for example: * Publish a small amount of well-organized information frequently and regularly * Include content from individuals who are knowledgeable and passionate about their work* Make it easy for your employees to communicate directly in their own, human voice* Respect the reader by making sure your e-newsletter provides value and that he/she wants to receive it. E-newsletters geared towards educating a marketplace, rather than those focused on advertising or marketing, turn out to be particularly effective. E-newsletters offer an affordable, direct way for the experts in a company to communicate with an audience. This means that a product manager or an engineer can enhance the flow of information and make it more accessible to those who want it. Think of your channel and the information needs of your partners. Your company has a wealth of information that would help them sell your products more effectively. There is much insight within your partner community that could be leveraged throughout the channel. And your technical experts and engineers have critical knowledge and understanding that everyone could utilize. What's often missing is an easy way for the "know-how" keepers to capture their knowledge, organize it, and deliver it. The best e-newsletters are written in a real voice, not in corporate speak. Two years ago, the book The Cluetrain Manifesto shook up the business community (see http://www.cluetrain.com/book.html). The revelation? That business is about humans. As Wall Street Journal columnist Thomas Petzinger Jr. writes in the foreword: "I was dumbstruck. There in a few pages, I read a startlingly concise summary of everything I'd seen in twenty-one years as a reporter, editor, bureau chief and columnist for my newspaper. The idea that business, at bottom, is fundamentally human. That engineering remains second-rate without aesthetics. That natural, human conversation is the true language of commerce. That corporations work best when the people on the inside have the fullest contact possible with people on the outside." It turns out that the human "voice" is an underserved or ignored need. In a world of 6+ billion inhabitants, the individual craves to speak and to be heard. References Blogs As Disruptive Tech: How Weblogs Are Flying Under The Radar Of The Content Management Giants, By John Hiler, CEO, Webcrimson, http://www.webcrimson.com/ourstories/blogsdisruptivetech.Htm Making Room For Disruptive And Emergent Technologies, By Hugh Blackmer, Science Librarian, Washington & Lee University, http://home.wlu.edu/~blackmerh/sabb/nitle2.html* Blogs As Disruptive Innovation: What A Brave New World Blogging Is Building!, by Dr. James V. McGee, Professor, The Kellogg School Of Management, http://www.mcgeesmusings.net/2002/05/15.html Weblogs At Harvard Law, Bookmark List For ABCD Weblogs Meeting, By Dave Winer, http://Blogs.Law.Harvard.Edu/Stories/Storyreader$199 Top Web Site Blunders by Coaches, Consultants and Experts Of all the web sites belonging to coaches, consultants and experts that I have reviewed, more than three-quarters shared a very serious marketing blunder: Their potential clients wouldn't understand from their home page precisely what they do. Jargon gets in the way. The Value of a Good Sales Letter! Regardless of how many forms of promotional material you create, the simple yet very important sales letter never goes out of style. As a matter of fact a good sales letter should definitely be included as part of your marketing strategy for it can be the most effective tool over any other promotional material. A good sales letter gives you an opportunity to make a smashing impression right out of the gate. The following are some strategies to consider when preparing your letter. How to Promote your business website using free online resources. There are many ways to promote your website for free online. Here are 10 highly effective strategies you can use right now.
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