Profit-Lesson
#3:
"Joint
Ventures - How They Work!"
By
Teddy Hanson
In
the last lesson, I explained why Joint Ventures are the very best
way for you to make some serious money on the Internet.
Now
let's continue with lesson #3 and I'll explain how Joint Ventures
really work.
Onward...
Profit-Lesson
#3:
"Joint Ventures How They Work!"
Joint
ventures are not complicated. They're pretty straight forward and
simple with only a few variations.
A
"Joint Venture" can simply be described as either:
1.
A business with a Web site introducing by e-mail to its own customers
an offer from another business in exchange for a part of the profits
or...
2.
Two businesses with Web sites introducing each other's offer by
e-mail to their own customers
(Remember,
this is not necessarily your own Web site or your product. Your
role is as matchmaker between these two Web sites. Keep reading...)
In
the first instance, the business doing the endorsement to its own
customers is called the "Endorser" and the other business that will
supply the product to the customer is called the "Supplier".
In
the second instance, when two businesses mail each other's offer
to their own customers they're both the "Endorser" and the "Supplier".
It's
a fact that 99% of Web site owners have no clue of how to market
their product successfully on the Internet by traditional methods,
such as using search engines, advertising etc.
But
that's good news, because you can simply find and match-up Web sites
for profitable joint venture deals.
Remember...
We're Not Talking About Spamming... but introducing products or
services to existing customers.
These
are actual customers of a particular business or Web site. Meaning
they have ordered products or services before and don't mind getting
an e-mail from the same business again introducing them to similar
products.
Or
they could be what's called "targeted names" or "opt- in" names,
meaning that these people have not necessarily bought something
and are not "true" customers, but have agreed to and are willing
to accept e-mail (messages, or offers) on subjects or products they
are or might be interested in.
Maybe
these people have tried software programs or have registered for
different things on the Internet and have checked the "yes" box
that they would like to receive information about other similar
products or services.
Many
opt-in names are also comprised of people who have signed up for
free subscriptions to newsletters and e-zines.
In
other words, they "opt-in" wanting to receive information.
Non-customer
opt-in names are not nearly as good as names of people who have
actually bought something and are "true" customers.
When
I did my own mailings, using the post office, I would rent names
of people from mailing list brokers who were actual buyers of similar
products to what I was selling.
But
even with a "killer" sales letter mailed to the "right list" I would
only get about 1-3% response.
However,
if the same offer was "introduced" with an e-mail by a business
to its own customers, the response could easily jump to 10-20% or
even more.
The
reason there is such a difference in response is simply because
with an "introduced" offer, the customers know and trust the person
or business doing the introduction.
Now,
the best part of doing joint ventures is that...
That's
right... You simply become a "match maker" by finding and matching
up Web sites that are eager to get new customers and to make more
money. In the process, you get a nice profit from either or both
sides of the arrangement.
There
are lots of Web sites with great products that would love to introduce
their products or services to sites with high traffic.
So
you can easily see this is a win/win situation for all kinds of
Web sites.
Plus...
it can be very profitable for you too, by simply "matching up" Web
sites, that otherwise would never have found each other!
Also,
remember, once you've done a successful joint venture with these
Web sites, you can easily do similar deals with them, time and time
again. They'll practically be begging you to do another deal with
them.
That's
what's so great with joint ventures.
Isn't It Fantastic?
I
hope you are as excited as I am by now? Are you really excited?
Well are you?
That
should do it for now. In the next lesson I'll explain how you find
great products to joint venture.
Have
Fun!