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Targeted Traffic Through Endorsement Marketing
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Let me begin by making a bold statement: Joint venture
endorsement marketing is the probably the most underrated yet
most powerful method available to attract targeted customers to
your site, bar none. I know that you may be scratching your
head right about now asking yourself, "What is this guy
talking about? Everyone knows that search engine positioning is the
most effective form of promotion."
Granted, search engine placement is important for any web-based
business to succeed. However, what makes joint venture
endorsement marketing the most effective online and offline
form of promotion is that it builds on the most valuable asset
of any business: Customer loyalty. Are you still unsure of what
I'm getting at? Let me explain ...
The Power of Relationships
Merchants are constantly trying to develop stronger
relationships with their clients. For example, many web-based
businesses today offer a free subscription to a weekly
newsletter offering valuable information to their customers.
Some merchants will even offer special discounts to their
customers through their newsletters. The purpose of offering
this free resource is that it gives businesses an avenue to
maintain rapport with their customers and build long-term
relationships to ensure repeat purchases.
Once a merchant has gained a customer's trust, he practically
has guaranteed sales from that customer for years to come. Now
you can take advantage of that merchant's customer loyalty to
sell his customers YOUR products through a joint venture
endorsement. Are you beginning to see the power of this? If you
were to merely send out an advertisement to one of those "red hot" mailing lists, you would be lucky to get a 1-2% response
-- at best. However, if you have your products endorsed by the
publisher of an ezine related to your service, you can expect a
response that is 20-30 times greater!
Finding Endorsers
Finding businesses to endorse your product is relatively easy.
First of all, make sure that your joint venture associate has
established a strong relationship with his or her customers.
Any business that offers a newsletter or ezine is an excellent
candidate for a joint venture because they usually maintain
constant contact with their clients.
Secondly, you want companies that have established solid
relationships with their customers in a related industry but
which are not competitive with yours. For example, if you own
a web hosting company, you can easily joint venture with a web
design company, a search engine optimization service, or even
an ezine related to Internet technology. The possibilities are
enormous! This is an important aspect to remember because it
ensures that your product is being endorsed to a highly
targeted market that is interested in what you have to offer.
Lastly, to be really effective you want companies that have a
significantly large customer base to endorse your products.
Being endorsed by a company with no more than a few customers
would be a definite waste of time.
Arranging the Deal
Once you have selected companies that meet the above criteria,
you simply contact them by phone, fax or even email, and ask
for their endorsement. I suggest you contact them by phone as
opposed to fax or email because your offer will be taken much
more seriously if you make personal contact.
You'll want to offer the endorser a complimentary sample of
your product or service so they will be able to give a much
more credible endorsement once they have actually used what
you have to offer. And if what you sell is a truly top-notch
product, they will be happy to endorse it because they will
feel as if they are doing something good for their customers.
However, you will still have to provide them with some sort of
compensation in order to get most merchants to endorse your
product. I suggest that you either offer them a percentage of
the sales the help generate or give them access to your own
customers by endorsing their product to your customer base.
Either way, it is a win-win situation for both parties.
Conclusion and Summary
At this point, let me make one thing clear. Do not confuse
joint venture endorsement marketing with merely a link
exchange or banner exchange program. These forms of marketing
do not utilize the valuable asset of customer relationships
that can only be achieved through a personal endorsement of
one merchant's products by another. Now, in summary:
- Joint venture endorsement marketing is a very targeted form
of marketing because the endorsement comes from carefully
selected businesses with clients that would be interested
in what you have to offer.
- It is a very inexpensive form of marketing because you pay
your endorser based only on the sales that result from his
or her endorsement. If you arrange a deal where you endorse
each other's products, then you have no expenses at all!
- Since the endorser has a strong relationship with his
clients, and because of his recommendation of your service,
those clients will be much more inclined to put their trust
in you and become a lifetime customer of yours as well.
Start applying these principles of joint venture endorsement
marketing today and watch your profits explode!
------------------- About the Contributor --------------------
Article by Chauncey Twine. For more information about the
power of joint venture marketing, send a blank email to
subscribe to his free ezine, the "Advanced Marketer," at
mailto:advm-subscribe@egroups.com and you will instantly receive a FREE 14 chapter ebook on Joint Ventures and Internet
Marketing! Download it now because it is HOT!
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