One of the key things in a successful joint venture is finding the right partner. Alot of times you can find someone with a ‘list’, but not all lists are created equal. Like many beginning entrepreneurs starting out, many people opt for a ‘free’ autoresponder platform. As with most things in life….nothing is free. There is quite a bit you give up (features and benefits) with free versions of anything – autoresponders being one of them.
When seeking out a joint venture partner, list management is a key point. You need to find someone with not only a big list, but also someone who has taken the time to maintain the list. Many people just let people build a list and never ‘scrub’ it against opt out’s, segment into buyers vs. lookers, and or bother to communicate with subscribers to re-affirm their desire to be on the list.
Here is a quick laundry list of things to consider:
- Sending a letter to potential partners expressing your desire and offer to partner
- Sending a letter to their list with some compelling offer
- Tracking sales
- Payout and Compensation Plan
- Analysis and Follow-up campaigns
A coach will be able to walk you through these finer points, but there are alot of templates for letters. On the tracking side, I would suggest either setting up a coupon code or a ghost page with a different SKU # to identify different product purchases. The end of campaign analysis is always important if you want to maximize sales through follow-up campaigns. It is nice to have a partner that is interested in doing multiple mailings and getting into a long-term relationship. The increased exposure over time always helps to pull a better response…much like brand recognition. Sometimes offer recognition has the same benefits.
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