Grow Your Business With Joint Ventures

Take Your Business To New Levels With Joint Ventures

The key to promoting your business is to tell as many people as you can about your product’s benefits. Concentrate on telling people who will actually benefit from purchasing your product or service. This can be your customers or someone who sells to your customers.

Doing so concentrates on tying your product in with other companies, organizations, and charities. These partnerships help you access a larger audience by working through an organization that already reaches your target market. As a side benefit, your product may receive ah endorsement from the organization you are helping or get some great free press.

These organizations make great partners for helping you implement many of your marketing events. They have mailing lists, locations, and newsletters you can use to get the word out about your product. As you develop your marketing events, think about ways you can incorporate other organizations into this step. Always focus on benefit. Organizations exist to help fulfill their members’ needs, and if you can help them do that, they will be happy to partner with you. Events can be anything from donating your product to a silent auction or donating your time to organize a fundraiser.

Partnering is like dating – grab the attention of a potential partner by showing them your best stuff, establish a rapport with them, find out what they need, and then surprise them by offering them a beneficial relationship. For instance, meet with a charity and find out their goals. Then develop a fundraising event where the money raised benefits them. The charity will receive the money they need to continue their good works, and you will receive an opportunity for great publicity (and more sales).

Promotional tie-ins also work with other noncompeting companies. Find a product that complements yours. You can help each other by referring qualified customers to each other. For instance, if you are a consultant who helps people develop marketing strategies, perhaps you can partner with a graphic artist who creates brochures. Get creative. Think of all the different partnerships you can develop to promote and sell your product.

Some questions that will stimulate the creative juices are:

*What charities or other organizations can benefit from your product?

*What types of promotional events can you stage with these organizations?

*Is there another product or service that could be marketed or promoted with yours? If so, list the company’s name. You can form a marketing partnership that will refer business to each other, helping both of you grow.