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A Forgotten Marketing Tool – The Postcard
The postcard can be a very powerful marketing tool. Many of our customers and/or students use them in their business. The key is to set up the card to market effectively for you. Concentrate on a specific item or niche. When used correctly a post...
Deciphering Marketing Lingo for Small Business Owners
Maybe you've heard these different marketing terms, maybe you haven't. Either way, let me help to clarify the difference between them, because you should have all three if you want to market successfully. And knowing what they are may be your first...
HOW TO MASTER THE ART OF E-MARKETING....within 7 minutes
1st minute *********************************** COMMUNICATION Most of the time, any form of communication, fax, email, air-mail may not have been received by the intended parties, the fact is: It is normal for a fax or e-mail not being received,...
Joint Venture Marketing and What It Can Do For You
Would you like to attract more clients, customer orders and profits - for almost free? Or do you want access to another company's client database, or other valuable resources? Joint venture marketing focuses on matching two or more companies that...
Marketing Students: 5 Guidelines For Your Final Paper
Get motivated! ('Why do I write this paper?") This is a basic question with a not-so-basic answer. In order for a job to be done well – and your dissertation paper is, in fact, a job to be performed – you should give yourself time to figure out...
 
Five Joint Venture Marketing Skills A Small Business Owner Must Have

Joint venture marketing is a lucrative way of leveraging the assets of two or more businesses. It is the fastest way for businesses to achieve certain business goals and benefit their clients at the same time.

For the joint venture partners, this usually translates into more visibility, more clients and more profits than they could create on their own. For the clients, the benefits include saving time, saving money and getting added value from the businesses. These are the reasons behind the popularity of joint ventures.

For any joint venture project to be successful, the partners must possess certain skills that are required to choose the right deal, the right partners, and to promote the project effectively. I’ve outlined a basic skill set consisting of the five most important attributes below:

1.The ability to nurture client relationships

People buy only from those that they know, like and trust. You must therefore keep in touch with your clients on a regular basis in order to nurture your relationship with them and turn them into loyal clients. Apart from earning their trust, this will also enable you to determine what offers they’ll respond to and when to offer a certain product or service. Without a loyal client base, the response rate will be very low when you endorse a product or service.

2.Creativity, and the ability to “think outside the box”

Every new joint venture project that you initiate will be different, and therefore deserves a different approach. The ability to apply fresh new ideas is very important in making sure you present the joint venture in the best possible light. Creativity comes in handy when creating irresistible offers and proposals, when deciding the compensation plan, and during the negotiation phase.

3.Resilience

Many small business owners don’t really understand the benefits of joint ventures and may be skeptical at first. You need the endurance to educate them about the many


benefits a joint venture brings, and to put their minds at ease concerning any issues they may have. You will also need resilience and patience after launching your campaign, as results may not be immediately forthcoming.

4.The ability to visualize synergy

Even if you choose the partner with the largest client list in the marketplace, if there’s no real synergy, the partnership will not jell. It is critical to make sure that the combination of products and/or services fit together, and are not the proverbial “round peg in a square hole.”

5.Effective negotiation skills

From the minute the door is opened to the possibility of a joint venture, serious negotiations begin. Negotiating skills are necessary in making sure that both parties reach a win-win agreement, and also so that you achieve the goals you have set in the planning stages of your project. The ability to present all the benefits of the joint venture to your prospective partner in the early phase of the negotiations is critical to their acceptance of your proposal.

Joint venture marketing is rising in popularity everyday, and is an excellent way for small businesses to springboard their efforts to new success levels. These skills are all acquirable skills, and many resources are available to the small business owner wanting to reach out in these directions.

Copyright © 2005 by Habiba Abubakar and Emprez. All rights reserved.

Note: You are welcome to republish this article as long as the resource box at the end is included fully and unaltered.

About the Author

Joint venture specialist Habiba Abubakar, a.k.a. The Profit Diva, specializes in helping small business owners who are struggling to increase their client base and are tired of earning mediocre profits. To sign up for your FREE copy of her revealing Mini eCourse, “The Easiest Way To Skyrocket Your Profits In 90 Days Or Less,” and to receive other FREE marketing resources, visit http://www.profitdiva.com

 

KnowThis: For Marketing, Market Research, Internet Marketing ...
KnowThis.com offers a wealth of information, forums, and resources for professionals, academics and students in traditional and internet marketing, ...
www.knowthis.com
 
Marketing - Wikipedia, the free encyclopedia
Marketers depend on marketing research, both formal and informal, ... The next big thing is a concept in marketing that refers to a product or idea that ...
en.wikipedia.org
 
Marketing - Marketing Strategy - Marketing Plan - Marketing ...
Learn about marketing careers, the stages of developing a marketing plan, how to begin marketing research, create a marketing strategy, and how to market ...
marketing.about.com
 
Marketing.org - Home of the Business Marketing Association
Serves the professional, educational and career development needs of business-to-business marketers.
www.marketing.org
 
Welcome - American Marketing Association - www.marketingpower.com
Dedicated to serving the educational and professional needs of marketing executives.
www.marketingpower.com
 
Advertising, Marketing, Media and PR News - Brand Republic
Find the latest Advertising, Marketing, Media and PR news from Brand Republic, the online resource for up to the minute advertising and marketing news and ...
www.brandrepublic.com
 
Marketing Magazine - Marketing News - Brand Republic
Marketing Magazine - Marketing News - Brand Republic.
www.brandrepublic.com
 
Marketing (Canada)
Offers a Canadian source of news and articles on marketing, advertising and media.
www.marketingmag.ca
 
BidVertiser - Pay Per Click Advertising On Sites Of Your Choice.
Pay per click advertising - online advertising directly on sites of your choice, internet marketing solution for online advertisers.
www.bidvertiser.com
 
Online Behavioral Contextual Advertising and Marketing.
Promote your business with today's most effective online advertising technology, contextual advertising at a cost effective metric of CPC, PPC, CPM or CPV.
www.clicksor.com
 
Sales Jobs / Marketing Jobs / Advertising Jobs - MarketingJobs.com
Employment site for marketing and sales professionals.
www.marketingjobs.com
 
The Chartered Institute of Marketing
The Chartered Institute of Marketing is the world's largest international marketing professional body and helps with career support and information ...
www.cim.co.uk
 
Marketing: See what people are saying right now on Technorati
See all blog posts tagged with marketing on Technorati.
www.technorati.com
 
Marketing Profs - Marketing Concepts and Strategies: Expert ...
Marketing knowhow from professionals. Newsletter, articles and how-to's.
www.marketingprofs.com
 
Guerrilla Marketing Online - The Official Site
Guerrilla Marketing Online is anonline magazine for small business, entrepreneurs, sales people and marketers of all kinds.
www.gmarketing.com
 
Business Marketing - Small Business Marketing
Business marketing - Read everything your need to know about small business marketing.
www.entrepreneur.com
 
All About Marketing
Adapted from Field Guide to Nonprofit Program Design, Marketing and Evaluation ... Inbound Marketing Includes Market Research to Find Out: ...
www.managementhelp.org
 
Pages tagged with "marketing" on del.icio.us
USA Network Announces a NASHVILLE STAR Marketing Partnership With ... - Yahoo! ... Direct Marketing Association: Telephone, Mail & Internet Marketing ...
del.icio.us
 
ClickZ Internet Marketing Solutions for Marketers
Includes columns with commentary and analysis on a wide variety of internet marketing subjects ranging from B2B marketing to search engine marketing.
www.clickz.com
 
Direct Marketing Association: Telephone, Mail & Internet Marketing
Trade association for users and suppliers in the direct, database and interactive marketing fields, offering seminars and resources, and lobbying for ...
www.the-dma.org
 
 

 
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