- by Rory Ramsden
Recently I was contacted by a potential client who wanted help with her upcoming product launch. Specifically, she wanted me to help her find a bus-full of joint venture partners to promote her launch. I’m not a betting man but if I was, I’d put money on that being the major ambition of any entrepreneur starting a small business.
“After all, it’s the quickest way to make a shed load of money, isn’t it?” she asked
“Hold on” I said “Let’s start at the beginning… ”
When a joint venture partner or affiliate is assessing your new product launch, he will have 5 questions…
- What’s your track record ?
If your track record is second to none, then no problem but if you’re just about to launch your first product then it pays to have done your home work especially when it comes to putting your track record in the best possible light. Your JV partners are not going to burn their lists with no guarantee of getting paid. They need a trustworthy launch partner.
Tip: If you’re not an ‘A’ list player, don’t approach ‘A’ list marketers. Make sure you are playing in the right league…
- What is the visitor value ?
Have you optimized your sales funnel? Fully focused your product on the niche within a niche that has money to spend? Created an overwhelming offer packed with value that your prospects will intuitively ‘get’? And got the metrics to prove it? If you don’t know how much each visitor to your landing page is worth, then find out quickly.
Tip: Visitor Value is the amount of money you make on average per visitor to your website. The more money you can get your average customer to spend the better
- What is the price point ?
If your potential joint venture partner has a buyers list of people who are happy to buy high value products he is going to be reluctant to promote a $47 product. Put yourself in his shoes, think about his ROI and his opportunity cost.
Tip: Match your product to the price point that the affiliate’s list is used to buying at
- What commission are you offering ?
50% is a minimum. You could go a lot higher. As far as 75% or 80% for the right partner. You may not make much money there and then. But think about the explosive growth in the size of your list. Think medium to long-term and you will quickly see the benefit
Tip: To make it easy for your affiliates, provide swipe email copy that has proven to convert with a variety of headlines.
- How much money will I make ?
This is the big and only one. JVs are busy people. They want to make money. They want to get paid. They’re living the internet marketing lifestyle… You didn’t have to be a rocket scientist to work that out, did you? 🙂
The best way to attract people to promote your new product launch is to ignore them !
Yes… ignore them
This may seem counter intuitive but it works.
Focus on executing your own product marketing strategy. Focus on greasing your sales funnel and optimizing your product. Make sure that your visitor value is the highest it can be by allowing buyers to add further products to their shopping cart just like Amazon do…
There is no doubt that the people you really want to promote for you will come to you. They will be on your list because you popped up on their radar. They will be in the same niche as you. And you will be in the nice position of having them prove to you that they can do a good job.
That’s what I told my potential client but she just could not focus on her business and stop wasting her time desperately chasing her dreams.
Please don’t make the same mistake
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