Joint Venture Power on the Internet

Many people believe the extent and limit of Internet Joint Ventures is the use of affiliate programs or getting other Internet marketers to endorse your products and services – cross promotions. This is all good, but it is just the tip of the iceberg; there is a whole lot more that can be done to release the amazing power of Joint Ventures.

Joint Ventures utilize synergy and reciprocity, while at the same time adding massive value to differentiate the site and optimize stickiness. By teaming up with JV partners to add more and more value, savvy JV experts are streets ahead of their competition. The idea is to focus on five things:

1. Make sure you are far more interested in adding value to the website visitor than in selling them stuff. Focus on what’s good for them, interesting to them, and useful to them. Partner up with people who offer products and services to the same demographic model.
2. Think like Disney – endeavor to mix offline with online, brick and mortar with telephone and Internet. The more diverse and varied the mediums you use, the greater the effect.
3. Link all the aspects of the site – bounce visitors from one thing to another, like a Vegas Casino – keep them so intrigued and fascinated that they don’t even look for a clock or a way off the site.
4. Consistently incentivise and reward every step – use the idea of operant conditioning to reinforce sought-after behavior, offering premiums for the “right choice” and enticing and ethically bribing the visitor step-by-step. This is a strategic, pro-active approach that leads visitors to the desired conclusion and purchase. Then give them a compelling reason to return regularly for repeat sales and upsells.
5. Build trust by keeping your promises. Under promise, over deliver. Add unexpected bonuses and pleasant surprises, respond like lighting and fix mistakes fast.

Use underutilized resources to differentiate yourself from the wanna-be’s that pollute the Internet. Be professional and only associate with other professionals. Most of all, be accessible. Too many website wonders are not accessible – they hide away and you can’t find their mailing addresses, can’t call them and can’t get them to respond to e mails. They make bizarre, outrageous claims that nobody can substantiate, and their testimonials come from people who are equally suspect. The understandably skeptical public wants real-life people to deal with.

You will be amazed at what you can get at no charge to offer as bonuses and premiums to the public – all you have to do is ask. An abundance mentality, along with generosity and a big picture approach, will set you apart from the rat race. Joint Ventures are the most effective way to build your Internet business, as long as you remember the following:

1. Check up that your JV Partners actually do what they promise, that they really do have the database they profess to have, and that they actually reciprocate. At the first sign of dishonesty, end the relationship. Do spot checks and institute effective tracking systems.
2. Put a Memorandum of Understanding in place right at the outset. A good dose of skepticism is a good thing.
3. Be prepared to learn from others. You really don’t know everything. An open-minded attitude works well in JV’s.

A JV expert on the Internet is like a nuclear-powered money magnet.

Robin J. Elliott www.DollarMakers.com