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Joint Venture Marketing For Service Businesses
First of all, let’s start with a simple definition of joint venture marketing: Joint venture marketing is the type of marketing technique in which two or more businesses collaborate to advertise and increase a client base for each other. In using joint venture marketing for a service company, you would need to have at least two services that were complementary to each other. If you have a massage parlor, and wanted to use joint venture marketing, you would need to choose another business that correlated with yours; such as a salon that gives manicures and pedicures, for instance. By the same token, you would not want to choose a car repair shop as your partner in fusion marketing, because there is no correlation. People who are getting car repairs done don’t usually think that the next step is a massage, or vice versa. So, joint venture marketing calls for an alliance between service companies that share similar market targets. This can be greatly beneficial to both companies, because it will enhance and expand sales and customers for each business. There are six steps to follow in order to set up and use joint venture marketing: 1. Find a service company that is a good fit for your business, one that shares a similar market niche. 2. You and your marketing collaborator (the other company) should decide what joint offers to make. For instance, you might want to offer a free massage, and your partner may want to offer a free manicure. 3. Have an agreement in writing specifying which of you will do what service. 4. Combine your mailing lists, email lists or other leads, and then send out the joint offers and/or place ads. 5. Make sure that both you and your business collaborator monitor leads, and respond to emails or phone calls from prospective clients as they come in. 6. Continue on with joint venture marketing with this partner if the partnership has proven mutually beneficial. Joint venture marketing is a business application of “You scratch my back and I’ll scratch yours.” It’s a popular marketing strategy because it works! You save money by sharing the costs of the campaign with a partner, and reap twice the potential clients! Article Directory: http://www.articledashboard.com Bebani.com Automated client generation systems for small service businesses |
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