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Leverage Your Way to Profits With Joint Ventures


You can't conduct business on the internet for very long without hearing the term "Joint Venture", but do you really understand them or how and why a Joint Venture works?

In broad, simple terms -- a Joint Venture is partnering with others to create a win/win situation for everyone involved.

But just what does that mean? How do you identify a good Joint Venture situation? How do you structure the partnership so that everyone wins? How do you approach a potential Joint Venture partner? There are tons of questions, and I'll try to answer them all.

At the very heart of Joint Ventures - what makes them work, and why they are more effective than other marketing strategies - is something called leverage. At the end of this article, you should understand leverage and have a number of ideas about how you might incorporate Joint Ventures into your own marketing strategy.

Joint Ventures are a way to leverage someone else's money, customers, opt-in lists, marketing muscle, credibility, products, influence, whatever - to create benefit for both. The most sought after benefit is probably immediate revenue and profits, so the first few examples will concentrate on those. But, your aim might be to:

increase your subscriber base, increase brand awareness in a new market, reduce or share certain costs, gain valuable information or skills, etc. so later, I'll explore some of these, too.

The examples are just intended to spark your imagination. Whatever you do, don't be limited by them. They are just examples!

Most joint ventures are unique, and the best joint ventures will be created by applying your own imagination and creativity to form the best win/win situation for you and your JV partners.

First, let's look at the most common Joint Venture opportunity on the internet.

Affiliate Programs :

Some will debate that there has to be some exclusivity, some limited number of partners - to qualify as a Joint Venture. I would direct you to the definition I gave above - and contend that an affiliate program satisfies that definition.

Besides, affiliate programs provide us with a very well understood example of the relationship between the partners. If you choose to limit the definition for your own purposes .. fine - but let's make use of them as a common frame of reference.

With the typical affiliate program, there is a single benefactor and as many promoters as possible. The owner of a product (benefactor) sets up an affiliate program in order to leverage the customer and opt-in lists, and the recommendations of the promoters (affiliates) to sell more of the product.

The merchant benefits through sales to web surfers, newsletter subscribers, etc. that he would otherwise have no way to contact - through the direct marketing efforts (including recommendations) by each affiliate.

The affiliate benefits by letting the merchant supply the sales copy, order fulfillment, and customer support - and, of course, through commissions on each sale made as a direct result of their promotions.

Those are the immediate, tangible benefits. There is more.

The merchant also collects contact information from each buyer, as a part of the ordering process. This allows the merchant to build their list of responsive contacts, so they can market to them directly in the future. They might even upsell additional products at the back end of the ordering process.

The affiliate also strengthens the relationship with their readers, past customers, etc. by virtue of having recommended a worthwhile product to their leads.

So both have leveraged the assets of the other to their own benefit.

Now let's look at a variation of the affiliate program. Let's say a merchant is readying a new product for the market. They have built the basic sales and order pages, but want feedback from others (a review) and need testimonials for the sales page to help convert leads to sales (even the gurus face this - no man is an island).

Product Endorsement :

You'll realize very quickly that the Affiliate Program is just a form of the Product Endorsement Joint Venture that we'll talk about now, so hopefully we have taken a commonly understood form of internet marketing and will begin now to expand the scope, and your understanding.

In the Product Endorsement Joint Venture, the merchant might approach a "smallish" list of known marketers with a Joint Venture proposal that provides them a free copy of the product to use and review, and an opportunity to be one of the first to recommend the product in the marketplace (once everything is ready for product launch).

The Joint Venture between the merchant and these marketers can be structured in many ways (in fact, each may be unique), but let's just play out a typical scenario for the purpose of an example.

First, the merchant is going to want maximum exposure and the most professional marketing he can get - so the "smallish" list will typically be a list of "super affiliates" that have demonstrated their ability to get their prospects to "click thru" to the sales page. For the most part, the merchant is also going to want his testimonials to come from recognized names - so this same list of "super affiliates" probably meets that criteria, as well.

OK...

The merchant approaches his list of potential JV partners with a free copy of the product, and gets the badly needed testimonials for his sales page in return. The JV partners will get additional exposure from having their testimonial on the sales page for the merchant's product. Not a bad deal for either, so far - but the whole package carries a lot more value for both.

Everyone who reviewed the product is also now in an ideal position to give a recommendation to their list, and (assuming they have the trust of their past customers or readers) should be able to direct a significant amount of traffic to the merchant's sales page. But why would they do that???

Well, besides making sure he is offering a worthwhile (and in demand) product - the merchant can offer premium commissions for any sales that are the direct result of the JV partners recommending the product, and can let them promote before the product is released to any other affiliates.

The merchant probably has to give up a larger percentage of each sale to get these recommendations, but they will produce many more sales than an affiliate simply pasting a banner on their web site. That's not a gamble, it's a certainty!

In return for the personal recommendation, the JV partner gets a higher commission, and early promotion rights (before the market is flooded with competitors making the same offer).

You could be either party in this partnership (many of the product gurus also make a fair amount promoting others' products).

So, now ... let's assume the merchant is YOU! "But, I don't know any super affiliates!", you say. We'll come to that later.

Or maybe you don't see yourself creating unique products and dealing with order fulfillment, customer service, etc. If you are satisfied marketing others' products, maybe all you need is to get in on some of those "super affiliate" deals - so you get some of those first promotion rights.

There will be plenty of opportunity for you to check this out later.

The above example is one of the more common ways to structure a Joint Venture, and product promotion brings the most immediate return - but you can partner with others in many other ways.

Copyright 2004 Russ Shearer

------------------------------

About The Author

Russ Shearer shows how to leverage the powerful resources of the big-wigs with Joint Venturing.

Work at Home Ideas and Opportunities

Ordinary people are making extraordinary money working

from home on the Internet with Rush2Profit.com.


Todays News by officejax surplus outletMORE AFFILIATE REVENUE RESOURCES updated Thu. March / 28 / 2024

Inside the Affiliate Marketing Product Boom: A Founder's Perspective on Market Trends - hackernoon.com
Inside the Affiliate Marketing Product Boom: A Founder's Perspective on Market Trends  hackernoon.com

15 Affiliate Marketing Programs to Grow Your Affiliate Revenue - Influencer Marketing Hub
15 Affiliate Marketing Programs to Grow Your Affiliate Revenue  Influencer Marketing Hub

TV Stations' Pay TV Affiliate Revenue Will See Erosion: Wells Fargo 11/16/2023 - MediaPost Communications
TV Stations' Pay TV Affiliate Revenue Will See Erosion: Wells Fargo 11/16/2023  MediaPost Communications

What Is Affiliate Marketing? Everything You Need to Know in 2024 - Shopify
What Is Affiliate Marketing? Everything You Need to Know in 2024  Shopify

How Wirecutter's social strategy led to increased Prime Day affiliate revenue - Digiday
How Wirecutter's social strategy led to increased Prime Day affiliate revenue  Digiday

How to Make Money as an Amazon Affiliate in 2024 - Jungle Scout
How to Make Money as an Amazon Affiliate in 2024  Jungle Scout

As affiliate marketing gets competitive, a new brand playbook emerges - Modern Retail
As affiliate marketing gets competitive, a new brand playbook emerges  Modern Retail

How Affiliate Platform Howl Fell Millions Behind on Payments - Adweek
How Affiliate Platform Howl Fell Millions Behind on Payments  Adweek

Guide to Affiliate Marketing | CO- by US Chamber of Commerce - CO— by the U.S. Chamber of Commerce
Guide to Affiliate Marketing | CO- by US Chamber of Commerce  CO— by the U.S. Chamber of Commerce

Affiliate Revenue: still a publisher's best eCommerce bet? - Media Makers Meet
Affiliate Revenue: still a publisher's best eCommerce bet?  Media Makers Meet

Influencers share how to make money with affiliate marketing - Business Insider
Influencers share how to make money with affiliate marketing  Business Insider

The Sporting News raises $15 million after shift to affiliate revenue focus - Awful Announcing
The Sporting News raises $15 million after shift to affiliate revenue focus  Awful Announcing

The State of Affiliate Marketing: Benchmark Report (2023) - Influencer Marketing Hub
The State of Affiliate Marketing: Benchmark Report (2023)  Influencer Marketing Hub

45 Best Affiliate Programs for Marketers and Creators (2024) - Shopify
45 Best Affiliate Programs for Marketers and Creators (2024)  Shopify

With Its Novel Affiliate Model, The Sporting News Bets on Lifetime Value - Adweek
With Its Novel Affiliate Model, The Sporting News Bets on Lifetime Value  Adweek

26 High-paying Affiliate Programs for Beginners - Influencer Marketing Hub
26 High-paying Affiliate Programs for Beginners  Influencer Marketing Hub

Pinterest Affiliate Marketing: How To Make Money Pinning (2024) - Shopify
Pinterest Affiliate Marketing: How To Make Money Pinning (2024)  Shopify

The 7 Best Affiliate Marketing Automation Software to Scale Your Marketing Strategy - Influencer Marketing Hub
The 7 Best Affiliate Marketing Automation Software to Scale Your Marketing Strategy  Influencer Marketing Hub

Top Affiliate Marketing Statistics for 2023 - Influencer Marketing Hub
Top Affiliate Marketing Statistics for 2023  Influencer Marketing Hub

22 Best Affiliate Management Software Solutions for 2024 - Influencer Marketing Hub
22 Best Affiliate Management Software Solutions for 2024  Influencer Marketing Hub

How publishers can regain traffic and revenue with affiliate marketing - Search Engine Land
How publishers can regain traffic and revenue with affiliate marketing  Search Engine Land

AMC Networks Q3 Results Hit By Drops In Advertising And Affiliate Revenue - Deadline
AMC Networks Q3 Results Hit By Drops In Advertising And Affiliate Revenue  Deadline

Affiliate Fees Help Fox Eke Out Q4 Profit Despite Ad Declines - Variety
Affiliate Fees Help Fox Eke Out Q4 Profit Despite Ad Declines  Variety

Start Earning With the Amazon Affiliate Program in 2024 - Shopify
Start Earning With the Amazon Affiliate Program in 2024  Shopify

How the Disney-Charter Deal May Affect Affiliate, DTC Revenue - Next TV
How the Disney-Charter Deal May Affect Affiliate, DTC Revenue  Next TV

As Klarna aspires to be a global bank, affiliate marketing is its cash cow - Sifted
As Klarna aspires to be a global bank, affiliate marketing is its cash cow  Sifted

The 15 Best Affiliate Tracking Software to Boost Your Sales - Influencer Marketing Hub
The 15 Best Affiliate Tracking Software to Boost Your Sales  Influencer Marketing Hub

Top 19 Affiliate Marketing Tools to Boost your Affiliate Revenue - Influencer Marketing Hub
Top 19 Affiliate Marketing Tools to Boost your Affiliate Revenue  Influencer Marketing Hub

How to Join the Amazon Affiliate Program in 2024 - Influencer Marketing Hub
How to Join the Amazon Affiliate Program in 2024  Influencer Marketing Hub

Disney’s Fiscal 2023 Results: Content Spending Eases, Streaming Proceeds Eclipse Affiliate Revenue As ESPN Penetration Falls To 71M Households - Deadline
Disney’s Fiscal 2023 Results: Content Spending Eases, Streaming Proceeds Eclipse Affiliate Revenue As ESPN Penetration Falls To 71M Households  Deadline

Levanta Review | Pricing & Features (2024) - eCommerce Platform - Influencer Marketing Hub
Levanta Review | Pricing & Features (2024) - eCommerce Platform  Influencer Marketing Hub

The New York Times expects ad revenue to continue to decline in 2024 - Digiday
The New York Times expects ad revenue to continue to decline in 2024  Digiday

How To Create a Successful Affiliate Program (2023) - Shopify
How To Create a Successful Affiliate Program (2023)  Shopify

YouTube Affiliate Marketing: 7 Pro Tips to Earn Extra Income in 2024 - Shopify
YouTube Affiliate Marketing: 7 Pro Tips to Earn Extra Income in 2024  Shopify

How To Start Affiliate Marketing in 2024 - Shopify
How To Start Affiliate Marketing in 2024  Shopify

Fox Advertising Revenue Down 20 Percent to $2B, But Company Hits Wall Street Expectations - Hollywood Reporter
Fox Advertising Revenue Down 20 Percent to $2B, But Company Hits Wall Street Expectations  Hollywood Reporter

Rupert Murdoch “Still Very Much Involved” at Fox Corp. Despite Title Change, Lachlan Says - Hollywood Reporter
Rupert Murdoch “Still Very Much Involved” at Fox Corp. Despite Title Change, Lachlan Says  Hollywood Reporter

Instagram Affiliate Marketing: Everything You Need to Know in 2024 - Shopify
Instagram Affiliate Marketing: Everything You Need to Know in 2024  Shopify

19 Best Affiliate Marketing Websites You Should Check Out in 2024 - Influencer Marketing Hub
19 Best Affiliate Marketing Websites You Should Check Out in 2024  Influencer Marketing Hub

The 15 Best High-Ticket Affiliate Marketing Programs (2023) - Shopify
The 15 Best High-Ticket Affiliate Marketing Programs (2023)  Shopify

9 Best Forex Affiliate Programs 2024 - Techopedia
9 Best Forex Affiliate Programs 2024  Techopedia

Retail Affiliate Programs: A Complete Guide (2024) - Shopify
Retail Affiliate Programs: A Complete Guide (2024)  Shopify

Paramount Global (PARA) Q3 Earnings Fall Y/Y, Revenues Miss - Yahoo Finance
Paramount Global (PARA) Q3 Earnings Fall Y/Y, Revenues Miss  Yahoo Finance

How To Make Affiliate Links: Benefits and Examples (2023) - Shopify
How To Make Affiliate Links: Benefits and Examples (2023)  Shopify

AMC Networks Falls Short of Q3 Revenue Expectations With $637 Million Due to Lower Ad and Affiliate Revenue - TheWrap
AMC Networks Falls Short of Q3 Revenue Expectations With $637 Million Due to Lower Ad and Affiliate Revenue  TheWrap

Amazon slashes affiliate commissions: What's next for publishers? - Media Makers Meet
Amazon slashes affiliate commissions: What's next for publishers?  Media Makers Meet

Pinterest Affiliate Marketing: How To Make Money Pinning (2024) - Shopify
Pinterest Affiliate Marketing: How To Make Money Pinning (2024)  Shopify

Pinterest Affiliate Marketing: How To Make Money Pinning (2024) - Shopify
Pinterest Affiliate Marketing: How To Make Money Pinning (2024)  Shopify

What Is Affiliate Marketing? Everything You Need to Know in 2024 - Shopify
What Is Affiliate Marketing? Everything You Need to Know in 2024  Shopify

How To Start Affiliate Marketing in 2024 - Shopify
How To Start Affiliate Marketing in 2024  Shopify

Top 8 Affiliate Marketing Strategies for 2024 - Influencer Marketing Hub
Top 8 Affiliate Marketing Strategies for 2024  Influencer Marketing Hub

10 Top Affiliate Marketing Platforms for Ecommerce Brands (2023) - Shopify
10 Top Affiliate Marketing Platforms for Ecommerce Brands (2023)  Shopify

Pinterest Affiliate Marketing: How To Make Money Pinning (2024) - Shopify
Pinterest Affiliate Marketing: How To Make Money Pinning (2024)  Shopify

Did Tax Cuts and Jobs Act of 2017 Increase Revenue on US Corporations' Foreign Income? — Penn Wharton Budget ... - Penn Wharton Budget Model
Did Tax Cuts and Jobs Act of 2017 Increase Revenue on US Corporations' Foreign Income? — Penn Wharton Budget ...  Penn Wharton Budget Model

What Is Affiliate Marketing? Everything You Need to Know in 2024 - Shopify
What Is Affiliate Marketing? Everything You Need to Know in 2024  Shopify

How To Create a Successful Affiliate Program (2023) - Shopify
How To Create a Successful Affiliate Program (2023)  Shopify

What Is Affiliate Marketing? Everything You Need to Know in 2024 - Shopify
What Is Affiliate Marketing? Everything You Need to Know in 2024  Shopify

How To Create a Successful Affiliate Program (2023) - Shopify
How To Create a Successful Affiliate Program (2023)  Shopify

A Beginner's Guide to Affiliate Marketing - Influencer Marketing Hub
A Beginner's Guide to Affiliate Marketing  Influencer Marketing Hub

The Direct Link between Faster Payouts and Affiliate Revenue - Hello Partner
The Direct Link between Faster Payouts and Affiliate Revenue  Hello Partner

Affiliate Links for Small Business: What You Must Know - Business News Daily
Affiliate Links for Small Business: What You Must Know  Business News Daily

How To Start Affiliate Marketing in 2024 - Shopify
How To Start Affiliate Marketing in 2024  Shopify

What Is Affiliate Marketing? Everything You Need to Know in 2024 - Shopify
What Is Affiliate Marketing? Everything You Need to Know in 2024  Shopify

31 Best Affiliate Programs to Build a Passive Income Stream - Influencer Marketing Hub
31 Best Affiliate Programs to Build a Passive Income Stream  Influencer Marketing Hub

Why affiliate revenue's time has come: Publisher insights from Affiliz - Media Makers Meet
Why affiliate revenue's time has come: Publisher insights from Affiliz  Media Makers Meet

Pinterest Affiliate Marketing: How To Make Money Pinning (2024) - Shopify
Pinterest Affiliate Marketing: How To Make Money Pinning (2024)  Shopify

How To Start Affiliate Marketing in 2024 - Shopify
How To Start Affiliate Marketing in 2024  Shopify

Media Briefing: How publishers approached the Amazon sales event amid a breaking news cycle - Digiday
Media Briefing: How publishers approached the Amazon sales event amid a breaking news cycle  Digiday

The future of publishers and affiliate marketing in times of search with AI - Media Makers Meet
The future of publishers and affiliate marketing in times of search with AI  Media Makers Meet

How To Create a Successful Affiliate Program (2023) - Shopify
How To Create a Successful Affiliate Program (2023)  Shopify

AMC Networks Earnings Drop As Ad, Affiliate Revenues Fall - Next TV
AMC Networks Earnings Drop As Ad, Affiliate Revenues Fall  Next TV

How To Create a Successful Affiliate Program (2023) - Shopify
How To Create a Successful Affiliate Program (2023)  Shopify

Sinclair Earnings: Upcoming Affiliate Renewals and 2024 Political Revenue Won't Change Our Outlook - Morningstar
Sinclair Earnings: Upcoming Affiliate Renewals and 2024 Political Revenue Won't Change Our Outlook  Morningstar

Pinterest Affiliate Marketing: How To Make Money Pinning (2024) - Shopify
Pinterest Affiliate Marketing: How To Make Money Pinning (2024)  Shopify

One Year In, The Wall Street Journal's Buy Side Is Fine-Tuning Its Affiliate Strategy - Adweek
One Year In, The Wall Street Journal's Buy Side Is Fine-Tuning Its Affiliate Strategy  Adweek

How To Create a Successful Affiliate Program (2023) - Shopify
How To Create a Successful Affiliate Program (2023)  Shopify

What Is Affiliate Marketing? Everything You Need to Know in 2024 - Shopify
What Is Affiliate Marketing? Everything You Need to Know in 2024  Shopify

Footballco says it will grow affiliate revenues by 300% in 2023 in drive away from advertising - Press Gazette
Footballco says it will grow affiliate revenues by 300% in 2023 in drive away from advertising  Press Gazette

How To Create a Successful Affiliate Program (2023) - Shopify
How To Create a Successful Affiliate Program (2023)  Shopify

Pinterest Affiliate Marketing: How To Make Money Pinning (2024) - Shopify
Pinterest Affiliate Marketing: How To Make Money Pinning (2024)  Shopify

10 Top Affiliate Marketing Platforms for Ecommerce Brands (2023) - Shopify
10 Top Affiliate Marketing Platforms for Ecommerce Brands (2023)  Shopify

Top 10 Tips for Becoming an Affiliate Marketer on Facebook in 2024 - Influencer Marketing Hub
Top 10 Tips for Becoming an Affiliate Marketer on Facebook in 2024  Influencer Marketing Hub

Pinterest Affiliate Marketing: How To Make Money Pinning (2024) - Shopify
Pinterest Affiliate Marketing: How To Make Money Pinning (2024)  Shopify

What Is Affiliate Marketing? Everything You Need to Know in 2024 - Shopify
What Is Affiliate Marketing? Everything You Need to Know in 2024  Shopify

What Is Affiliate Marketing? Everything You Need to Know in 2024 - Shopify
What Is Affiliate Marketing? Everything You Need to Know in 2024  Shopify

How the Klarna Affiliate Marketing Strategy Has Boosted Revenue - Affiverse
How the Klarna Affiliate Marketing Strategy Has Boosted Revenue  Affiverse

The 15 Best High-Ticket Affiliate Marketing Programs (2023) - Shopify
The 15 Best High-Ticket Affiliate Marketing Programs (2023)  Shopify

Twitch announces 60/40 revenue split in expanded Plus Program - TechCrunch
Twitch announces 60/40 revenue split in expanded Plus Program  TechCrunch

Pinterest Affiliate Marketing: How To Make Money Pinning (2024) - Shopify
Pinterest Affiliate Marketing: How To Make Money Pinning (2024)  Shopify

How To Create a Successful Affiliate Program (2023) - Shopify
How To Create a Successful Affiliate Program (2023)  Shopify

Should publishers embrace affiliate partnerships with online sports betting firms? - Media Makers Meet
Should publishers embrace affiliate partnerships with online sports betting firms?  Media Makers Meet

11+ Newest Ways to Promote And Monetize Affiliate Links - Adam Enfroy
11+ Newest Ways to Promote And Monetize Affiliate Links  Adam Enfroy

Affiliate Marketing for Beginners in 2024: Make $2500 Per Day - Adam Enfroy
Affiliate Marketing for Beginners in 2024: Make $2500 Per Day  Adam Enfroy

Affilizz launches 'Magic Match', allowing publishers to build affiliate revenues at scale in real time - Media Makers Meet
Affilizz launches 'Magic Match', allowing publishers to build affiliate revenues at scale in real time  Media Makers Meet

What Is Affiliate Marketing? Everything You Need to Know in 2024 - Shopify
What Is Affiliate Marketing? Everything You Need to Know in 2024  Shopify

Pinterest Affiliate Marketing: How To Make Money Pinning (2024) - Shopify
Pinterest Affiliate Marketing: How To Make Money Pinning (2024)  Shopify

How to make money on YouTube in 2024 (and what creators should expect) - Sprout Social
How to make money on YouTube in 2024 (and what creators should expect)  Sprout Social

How To Create a Successful Affiliate Program (2023) - Shopify
How To Create a Successful Affiliate Program (2023)  Shopify

What Is Affiliate Marketing? Everything You Need to Know in 2024 - Shopify
What Is Affiliate Marketing? Everything You Need to Know in 2024  Shopify

“The juice is worth the squeeze”: 17Bn reasons why affiliate marketing has come to the fore - Media Makers Meet
“The juice is worth the squeeze”: 17Bn reasons why affiliate marketing has come to the fore  Media Makers Meet

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