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Patner Your Way To Success
By: Jim Conley II, MerchantSeek.com

I'm sure at the starting point in your online business venture
you've thought of gaining lots of traffic for your site and
generating high profit margins. Each of us has dreams of
"making it big" on the Internet, but the fact is, working at it
alone makes it so much harder to achieve that dream. This
week I want to share with you how partnering and joint
venture marketing can substantially increase your website
traffic and sales.

Now don't get me wrong, traveling alone and reaching your
income goals is attainable, but partnering with a select few
companies can quite possibly lessen the length of time it
will take to make your business a success.

Don't let joint ventures and partnerships scare you away.
This marketing technique is used by both small and large
corporations alike. When implemented properly they can be
very lucrative for both parties involved.

As an Internet merchant you're constantly trying to gain new
customers while still serving your current loyal customers.
Advertising can be free in some instances, but somewhere
down the line you'll have to shell out a few bucks. Soon
you may find yourself spending quite a bit on different
marketing methods. The neat aspect about joint venture
marketing is that you are able to market your products and
services to another company's website visitors and previous
customers. It's almost like renting someone's list of
customers to market your offerings to. The only difference
is it's not costing you any money out of pocket. The
business you partner with only makes a percentage if a sale
is made, and vice versa.

Another advantage is that it's easier to sell to people you
have an existing relationship with than someone who is just
visiting your site for the first time. Since you've already
developed a trust with your previous customers, making
offers about your partner's products should prove to be quite
lucrative for you and your partner.

There are, however, a few points to remember when
choosing the right partner(s):

1. Only partner with companies that offer products or
services that compliment your offerings. There's no use
setting up a strategic alliance with a company that offers
contact lenses if your company is selling flower seeds.

2. Don't partner with a company just because they'll offer
high referral profit margins. Just as with affiliate programs
it's important to only offer products or services that you are
willing to back up 100%. Your customer's best interest
should come first, and profit second. You'll end up doing
your company and customers a disservice if you let the
opposite happen. Sure profit is important, but so is
recommending a product that is worthy to be praised.

3. Don't rush into every joint venture opportunity that turns
up on your doorstep. Many of them probably won't be
worth your time, and instead of focusing on both parties
benefiting, usually the one pushing the opportunity is the
one who ends up on top in the end. Search out every avenue
of a joint venture proposal. Be sure to ask questions, and it
would even be a good idea to get reviews from current and
previous customers. Even try the product out for yourself.

4. Set up a simple contract that outlines each company's
objectives in the partnership. Address how each will
benefit, the amount each of you will make from sales,
limitations on marketing each other's products (like a no
spam policy), etc.

When presenting a joint venture proposal to a company it's
important to thoroughly explain all the details. Don't
generalize everything. Here are some tips to remember:

1. Explain to the candidate why you feel a partnership
between your two companies is suggested. Point out several
aspects about their products that you like.

2. Write to a specific person, not "Dear XYZ Corporation."
If you have to make a call to get a contact name, do so. You
should make your message personalized and professional.

3. Give a detailed explanation of how the company will
benefit from partnering with your company. Referral fees?
Inclusion in national marketing campaigns? Stock options?
What ever the benefits may be, be sure to cover them in
detail. People want to know what they are going to get out
of the deal you're proposing.

4. Give the company time to respond. If you don't hear
from them in a week do a follow-up e-mail or make a call to
the person you e-mailed. If they are not interested, don't
hassle them, just move on to your next joint venture
candidate.

If joint ventures are done properly they can be very
successful for both you and the other party involved. Be
prepared for rejections, but don't let them discourage you.
Simply move on. Joint ventures can be a very effective in
the long term and can present opportunities for possible
mergers and buy-outs later on down the road. The sky's the
limit.

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Jim Conley II is the CEO/Founder of MerchantSeek. MerchantSeek allows merchants from around the world to search FREE for a Merchant Account Provider that best fits their businesses needs and budget. Visit us at http://www.merchantseek.com/