Archive for the ‘Partnerships’ Category

Relationship Marketing: Using Demographics As a Lead Source Tool

Friday, January 2nd, 2009

A good lead-scoring model is an important part of a successful relationship marketing plan. The impetus for implementing a relationship-marketing scheme is to build, develop and maintain strong customer relationships. Implementing and reacting appropriately to a lead-scoring model developed for your company is one of the first steps towards turning a lead into a client. By knowing how to contact and develop potential leads, you will better know how to nurture these relationships once they move from the lead phase into the client stage.

Types of data for relationship marketing

The most successful and accurate lead-scoring models use both explicit and implicit client information. Explicit data are hard facts about your leads that are often provided by your prospects themselves, such as gender, geographic location, company, company size, and title. Implicit data is collected from monitoring the behavior of your leads: web site visits, emails they open, and sometimes previous purchases.

Used together, explicit and implicit factors create a comprehensive picture of your prospective clients that help you make an accurate determination of their likelihood to purchase your products and services. Demographics and psychographic information are two important types of explicit data that are integral to the execution of a successful lead-scoring model.

The value of demographics data

The demographics section of a lead-scoring model categorizes individuals based on characteristics of both the individual, as well as the company for which they work. Some lead scoring models will rely heavily on individual information, some will rely more heavily on a lead’s company information, and some lead-scoring models will use a combination of the two. This will largely depend on the type of business you have, and the types of products and services you provide.

Demographic information collected for your lead scoring can be extremely useful and help to shape the relationship marketing campaign for your company. If you sell beauty products online, you may discover that a certain brand sells better on the East coast than on the West coast. This will help you further tailor your lead scoring model, as well as your relationship-marketing plan.

Demographic information can be extremely useful, but it does have a few pitfalls, of which you’ll want to remain aware:

Self-reported information is not always accurate

People often give answers that they believe are more desirable, such as overstating the size of their company or their salary. Beware of potential aspiration data.

Company information tends to roll towards the mean

Leads at large companies may downplay the size of their company, or their role to avoid potentially hassling sales calls, while leads at small companies may pad their numbers to appear to be a bigger player on the scene than they are in order to be given more attention or to be taken more seriously.

Sometimes people lie

Unfortunately, not everyone will tell the truth on your data collection forms. For a variety of reasons ranging from embarrassment to annoyance or secrecy, some people are reluctant to reveal personal information. If this is a prerequisite for downloading something from your website, they may enter incorrect information.

Lead scoring is a very successful tool, and demographic information is one of the most essential aspects of a lead-scoring model. Keep in mind that the data may not always be 100% accurate and figure this into your scoring system. It is also useful to remember that scoring doesn’t have to take place all at once - you can do it over time, and this may be a more effective way to run your lead scoring model, as part of an effective relationship-marketing platform.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing
firm. He exemplifies how to profit from Joint Venture relationships by
creating profit centers with minimal risk and maximum profitability.
Join his JV Wealth e-zine at http://www.christianfea.com/joint-venture-wealth-report/

Discover Professional Associations to Develop New and Profitable Relationships

Friday, January 2nd, 2009

Marketing your small business can be tricky - there are a myriad of approaches, theories and potential platforms in which to structure your marketing plan - so putting a plan into action can sometimes seem overwhelming. If your business is relatively new or a marketing strategy such as relationship marketing is unfamiliar, you may want to seek help from a professional association.

Professional associations offer a wealth of information, training classes and expert contacts to help guide you in the right direction. If you choose to join a professional association, you’ll have immediate access to creating relationships with other companies who are also members of that association.

The Association for the Advancement of Relationship Marketing (AARM)

The Association for the Advancement of Relationship Marketing (AARM) is the most well known professional association committed to helping businesses develop relationship-marketing platforms. AARM is an international association that offers training courses and information on how to integrate a relationship-marketing scheme into your company’s business structure.

AARM focuses on Customer Relationship Marketing and Customer Relationship Management, both commonly known in the business world as CRM. CRM is the central marketing practice under which relationship marketing fits.

AARM offers professional development workshops, seminars, and coaching with certificate programs to help you integrate a relationship-marketing platform into your business. If your business is new to thinking in terms of a relationship marketing strategy, guidance from a professional association like AARM can help you navigate these uncharted waters that may seem a little daunting.

If you are a business with an established marketing platform, news, information and workshops from a professional association like AARM can help you stay on the cutting edge of marketing ideas for your business, and help you develop new and creative ways to meet the needs of your customers.

It is not necessary to join a professional association like AARM to benefit from what the association offers - you may participate in the seminars, workshops and classes even if you are not a formal member of an association. But one of the main benefits of becoming part of a professional association is the networking possibility that it offers. Membership in a professional association gives you access to other members who have the experience and knowledge that could benefit your own business.

Networking for Marketing

Professional networking is an important part of relationship marketing. By networking with other businesses, you enhance your professional relationships, which can only help benefit the relationships you have with your current customers.

Forming alliances with other companies, or just making a new business acquaintance, can enhance your existing client relationships also. Learning from other experts in your field, or even people in related fields, can give you insight and ideas on how to approach problems and issues with your own business. Another benefit of professional networking is the potential to share clients; you may meet a contact whose clients are in need of the types of products and services that your company provides, and vice versa.

There are many benefits to exploring a professional association, even if you do not want to make the official commitment to join as a member. The networking opportunities and business contacts you’ll make will be beneficial and you’ll stay informed and on the cutting edge of what is happening in the relationship marketing industry, which will only improve your business’s relationship marketing platform.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing
firm. He exemplifies how to profit from Joint Venture relationships by
creating profit centers with minimal risk and maximum profitability.
Join his JV Wealth e-zine at http://www.christianfea.com/joint-venture-wealth-report/

First Steps to Forming a Strategic Alliance: Identifying Your Target Market

Sunday, December 28th, 2008

If you have an Internet business, particularly a small one, forging partnerships with companies in related markets is an important marketing strategy to raise awareness for your business and to expand your own client base.

This may sound like a fantastic idea, but how do you go about building these partnerships? It seems so daunting . . . if you’re just a small niche market business, how can you help anyone else and why would they want to partner with you?

These are valid questions and concerns, but forging a strategic alliance isn’t as difficult as it may initially appear to be. The Internet is full of small, niche market businesses, so it is not a far-fetched idea to think that a company of a similar size to yours would welcome an alliance with you, and that you’d be able to help one another.

Getting Started

The first step towards embarking upon a strategic marketing alliance is to select a company who is not a direct competitor of yours, that wouldn’t serve either one of you very well, but to choose a company whose interests run similar to your own, without being a direct competitor.

Initially, figuring out what these businesses might be is to assess your own target market. You must know whom your business appeals to before you can embark on deciding who might be interested in a similar client base.

You first must ask yourself a few simple questions:

- What is the average age of your clients?

- What are their occupations?

- What is their income range?

- What other interests do they have?

- What are some other products or services that are compatible with mine?

If you don’t have immediate answers to these questions, it is time to create a market survey to get the answers you need, or to simply inventory your client roster and compile some basic data. The occupation and income range may not be relevant information to your business, if you deal in luxury goods, but it will of course matter if you deal in refrigerators or stoves, or something that everyone at some point needs to purchase where income is a less telling metric. Questions 1, 4 and 5 may be the most helpful in targeting potential partners for smaller Internet businesses.

The Next Step

Once you have identified your target market, and a product or service that may be a good accompaniment to yours, what do you do next?

Let’s say for instance, that your company rents designer wedding gowns. The occupation and income, as stated above, are less important considerations than questions 1 and 5. It naturally follows that someone in need of a wedding dress may also be in need of a caterer, photographer or wedding planner. In this instance, question number 5 is the most important consideration, but the age of your clients may also be important. Will a young couple prefer a young photographer? Will an older couple prefer an older more established photographer? Perhaps.

In this case, your next step will be to contact some photographers, caterers and wedding planers to propose a referral agreement, or even to exchange mailing lists and client lists. It is also important to seek alliances with a variety of companies in terms of age, and establishment: some clients will distinctly want an experienced photographer, while some will be willing to take a chance on a newer professional.

Forming a strategic alliance can be an integral part to the marketing and ultimate success of your business. The first step is to know your client base, so you can target and appropriate partner. Don’t be intimidated by approaching companies with which to forge an alliance, ideally this is a partnership - something from which both parties will benefit equally.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing
firm. He exemplifies how to profit from Joint Venture relationships by
creating profit centers with minimal risk and maximum profitability.
Join his JV Wealth e-zine at http://www.christianfea.com/joint-venture-wealth-report/

Relationship Marketing: How to Increase Qualified Leads by Using the Purchase-Readiness Survey

Sunday, December 28th, 2008

The Internet marketplace is growing increasingly competitive and difficult to navigate. The response rates from customer inquiries are trending downward and the process of driving new leads is becoming more expensive. Therefore, it is critical to incorporate a relationship marketing strategy into your businesses marketing plan to help maximize the power of each and every client lead with which you are presented. Simply put, not taking advantage of customer prospects that you have so diligently laid the groundwork to pursue is tantamount to handing these clients to your competition.

The process of ensuring that your client leads remain engaged and interested in ultimately pursuing a relationship with you is one of the central principles of relationship marketing. There are a few fundamental tactics to use in this early stage of building client relationships, which is also sometimes referred to as the nurture phase. These tactics are a good guide to help you increase the number of actual customers you obtain from your prospecting activities.

Purchase-Readiness Survey

If you do not have or are not already using a purchase-readiness survey, it is time to incorporate this survey into your relationship marketing strategy. The purchase-readiness survey should be incorporated into all of your lead and prospect generating mechanisms. A purchase-readiness survey allows you to gather critical contact information, as well as a customer’s readiness to make a purchase. Some standard questions to consider incorporating into your survey are:

- Timeframe for considering a purchase

- The customer’s role in the decision making process

- Key qualifying questions

Finding the Right Balance of Questions

You will need to balance and be aware of a prospect’s tolerance for and willingness to share information, with your need to gather information. Nobody likes to feel invaded or pushed, so it is important to be clued into the mood of your prospect. The more information you request from a client prospect, the more time it requires of your prospect, which they may be unwilling to give. It may be that the more eager you appear to gain a prospect and make a sale, the more you will alienate this prospect. You do not want to appear desperate to land a prospect (even if you are)- most humans can smell the essence of desperation and nothing makes a person retreat faster.

Try to take cues from your potential clients: if they seem willing to talk and divulge information, it is okay to proceed with your questions and your purchase-readiness survey. But if you sense reluctance in your prospect, it is always better to scale back and give them space, and perhaps come back and approach this prospect at a different time when they may be more amenable to hearing what you have to say. You may have better luck at forging a lasting relationship at a different time. Nobody likes to feel intruded upon or pressured. Adopting a persistent but more laissez-faire attitude in your relationship marketing plan, you are likely to be more successful and have satisfied clients who are loyal to your company.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing
firm. He exemplifies how to profit from Joint Venture relationships by
creating profit centers with minimal risk and maximum profitability.
Join his JV Wealth e-zine at http://www.christianfea.com/joint-venture-wealth-report/

Transferring Assets to Your Corporation

Tuesday, December 16th, 2008

Generally speaking, corporations or similar entities operating in United States often transfer property either to the corporations themselves (if they are still operating in the country) or to another legal entity (as in the case of newly formed corporations). The transfer of assets under law are still subjected to appropriate forms of taxation, while the value of the asset in the process of exchange remains variable since it is still subjected to fluctuations or spikes in the market.

Marked losses or gains in the process of transferring the asset from one legal entity to another is measured on these bases: the relative value of the property as it is situated in the market and the conditions of the transfer of the property or asset to the other legal entity.

A basic exception to the fluctuation or rise of value of an asset or property takes place when an individual or a corporation gains immediate control of another legal entity (an enterprise, an outfit or another corporation) after the transfer of assets or properties in exchange for the stocks of another company. In this manner, the relative value of the asset is unchanged.

The exception of the rule may be enjoyed by even older corporations since there is no particular pre-requisite: the important thing is that in the actual and pure exchange of asset or property for the stocks of another, economic control is immediately established.

According to existing federal laws on taxation in the United States, the exception is due to the fact that non-recognizance takes place when such an exchange is partaken. Sole exchange for stock is the basis for this exception.

This sole basis may be taken as an advantage. Individuals who are interested in enjoying this exception should make sure that exchanges for stocks are of enough magnitude to be able to control another legal entity so that the exchange remains tax free.

Now, if this is not the case, then the first step in the process of transferring assets to a newly established legal entity is as follows: first, the legal entity must be formed, and the offer for the transfer of property or asset must be carried out and declared. According to the code of taxation in the United States, money in any of its forms is considered as property also, and is therefore still taxable upon transfer.

The only kinds of asset that cannot be considered taxable assets or property are the services themselves. But all forms of property, may they be real or intangible properties must be accounted for and taxed properly for the transfer to be legal and recognized.

The second and perhaps most vital phase of the transfer of assets and property to another legal entity is that the administration and board of trustees of the other legal entity must agree to the offer of transfer, and must declare their agreement on recognizable, legal terms.

The last step in the process of transferring of assets is the basic execution of all recognizable legal instruments, and the transfer would finally take place. Legally, the instruments utilized for the transfer of assets contain not only the formal and legal parameters of the transfer, but also the pricing system employed.

E. Linares is Chief Visionary Architect at Commercial Magnet:: the new face of the online lending marketplace where borrowers and lenders connect. CommercialMagnet.com is the entrepreneurial platform taking business owners from start to funding. Find out how a Venture Capital Loans or Commercial Loans can help fuel your business at http://www.commercialmagnet.com.

Collaboration Marketing for Your Business

Tuesday, December 9th, 2008

Developing a strategic marketing plan is crucial in raising awareness for your business. If consumers don’t know about your company, it’s very difficult for them to buy from you. The art of successful marketing is largely about letting the public know how and where to find you.

For online business, there are a variety of creative ways to do this: direct email, banner ads and pop-up ads all of which are very successful tools. However, a rather new concept to online business is the collaboration marketing strategy, of which, an understanding will help you develop a complete marketing campaign.

What is Collaboration Marketing?

In essence, collaboration marketing focuses directly on attracting customers to your site, rather than intercepting them with traditional advertising methods. In traditional advertising, customers are somewhat randomly drawn to your business. For instance, if they happen to see an enticing advertisement and click on it, they may find their way to your website. This is a proven and effective marketing tool, but to truly find an edge in a sea of online businesses, it’s important to cultivate new and creative ways to raise awareness for your business.

How Does Collaboration Marketing Work?

Collaboration marketing attracts new business by becoming helpful to the customer, in a sense a sort of personalized service. This type of marketing targets customers in terms of evaluating potential new products and services that may be of interest to them and working with them to get more value from products and services they may have already purchased.

This might sound like a lot of work, but these goals can be obtained through a straightforward process that will target a large group of customers at one time. Personalized service need not be personal service. Collaboration marketing challenges the idea of the “one on one” personalized service with the refreshing view of multiple “one on one” consumer services occurring simultaneously.

Push vs. Pull

Collaboration marketing works by mobilizing a broad range of relevant third party marketers to add value to the customer relationship. These marketers make resources and relationships available to the customer that will enhance the products the customer has already purchased, thus creating a need and loyalty to the company of previous purchases. This is a pull approach where the marketer becomes useful to the customer so the buyer then seeks out the marketer, rather than traditional types of marketing that seek to push a customer towards their product by invading emails and blasting out ads.

Certainly, traditional modes of marketing are effective. Many types have been successfully implemented for decades. But the art of any successful marketing campaign is about finding an edge and developing a strategy that will get you noticed and attract customers to the products and services that you offer. Collaboration marketing should not be the only marketing strategy you implement, but rather, another piece of your repertoire to give you an edge to get your business noticed and help make your company a success.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing
firm. He exemplifies how to profit from Joint Venture relationships by
creating profit centers with minimal risk and maximum profitability.
Join his JV Wealth e-zine at http://www.christianfea.com/joint-venture-wealth-report/?a=1

Strategic Partnerships: Thinking Ahead

Saturday, December 6th, 2008

When you begin the process of implementing strategic partnerships for your business, consider what need to move your business to the next level. For instance, if you’ve developed a unique product or service, but lack a mass distribution system, what companies would have the necessary distribution channels to get your product or service into the hands of the masses? You may need to give up a bit of your revenue per sale, but when you weigh that against the time and money it would take to build your own distribution system, you will most likely decide that it is a small price to pay.

Protect Yourself and Your Ideas

Before you approach a large company about a strategic partnership, make sure you’ve thought things through and taken measures to protect yourself and your product with the necessary patents, trademarks, and non-disclosure agreements. This is an important and necessary step for you to take. There are many stories about unsuspecting entrepreneurs sharing their ideas or product prototypes with large corporations, only to see them on the market a few months later. Your attorney can help you draw up the necessary paperwork.

Research Pays Off

Make sure you research your potential strategic partner ahead of time. Find out all you can about the company. Study their products or services and determine if yours is a good addition or improvement to their current offerings. Ask people in the industry what they know about the company. A business with a reputation for treating strategic partners poorly is most likely one you’ll want to avoid. On the other hand, a business with a track record for treating their partners fairly can be a great find. You want to partner with a company that has an impressive reputation since you’re aligning your reputation with theirs.

Plan for Contingencies

Once you’ve decided to work together, think ahead to the “what ifs” of your agreement. What if things don’t work out as you planned? When you draw up your agreement, make sure that you have an “out” clause, just in case. Perhaps you’ll want to run a trial period to see how many units of your product your new partner can actually move, or how well they are able to fulfill orders. By putting a time-line or quantifying number in your contract, you can better gauge whether the partnership is working or not. If not, you can move on in your search for a new strategic partner.

Long-term Relations

When looking at a potential strategic partner, you should take into consideration your future product offerings. Look ahead to what you want to accomplish as a company. Before you form your strategic alliance, know where you want to go with your company. Envision the possibilities. Will your potential partner be able to help distribute other products into the marketplace? While you don’t need to lay all your cards on the table at first, look for the strongest partner so you can work towards developing a long-term working relationship once you’ve made it through an initial phase.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing
firm. He exemplifies how to profit from Joint Venture relationships by
creating profit centers with minimal risk and maximum profitability.
Join his JV Wealth e-zine at http://www.christianfea.com/joint-venture-wealth-report/?a=1

Practical Ways to Joint Venture

Thursday, December 4th, 2008

Business owners have to be creative when it comes to cost effective ways to promote a product or service. Advertising has its place, but it is critical that any advertising and marketing efforts have a return on investment. Joint ventures are an extremely effective and low-cost way to market your business and increase profit.

There are many simple ways to step into the joint venture arena. Think about sharing these ideas with a joint venture partner:

- Exchange links on your websites

- Include information in your newsletters about your joint venture partner

- Display information on counter tops

- Place information in shopping bags, billings or other mailings

- Share a booth at a tradeshow or event

- Write articles for each other’s newsletters

- Provide prizes for fundraising events for various organizations

- Become involved with a local non-profit or non-profit event that allows you to be seen as benefactors.

Find businesses and service providers in your industry or a cross-related industry and approach them about with your joint venture idea. Here are some examples of creative joint ventures to get your juices flowing:

- Make up Artist/ Bridal Shop: The make-up artist kept bridal shop and prom information in her kit and passed it to potential clients when she was out on a job. The bridal store displayed the make-up artist’s information on their counter.

- Travel Agent/ Wedding Planner: The wedding planner kept the travel agent information available for her clients to book honeymoons and received a free trip for every so many clients she sent to the agent.

- Real Estate Agent/ Moving Company: The real estate agent negotiated a discounted moving rate within a local area for her clients. The moving company received additional advertising in the agent’s newsletter.

- Small Pet Shop/ Dog Groomer/ Animal Shelter: The pet shop offered the groomer’s services and helped to promote the local animal shelter fundraising events. The groomer offered services to the shelter and the pet shop. The shelter promoted the pet shop and the groomer to people who adopted pets.

- Travel Agent/ Luggage Store/ Non-wrinkle clothing line: The travel agent promoted both the luggage store and the non-wrinkle clothing line. The luggage store included the travel agent’s card and information about the non-wrinkle clothing in their luggage and on the counter. The clothing line consultant promoted the luggage store and the travel agent during her consultations.

By thinking of scenarios where both parties benefit, joint venture opportunities abound. Pick a target market that you don’t always reach, but your potential joint venture partner does. Then brainstorm as to the type of cross-promotion you would like to do. Bring that to your potential partner and explain what it is that you envision. Be sure to highlight the benefits to him. Also, make sure that you outline what the responsibilities are for each project you work on together. That way, you’ll avoid misunderstandings.

Use joint ventures to increase exposure and profit. Be creative and have fun!

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing
firm. He exemplifies how to profit from Joint Venture relationships by
creating profit centers with minimal risk and maximum profitability.
Join his JV Wealth e-zine at http://www.christianfea.com/joint-venture-wealth-report/?a=1

Strategic Alliances: Getting Started

Wednesday, December 3rd, 2008

Before entering into a strategic alliance, it’s a good idea to decide what you hope to see happen as a result of the relationship. Most strategic alliances have one central mission: to increase sales in such a way that both companies benefit. There are many ways to approach a strategic alliance, but there are a few things to consider before you rush headlong into the relationship.

First, outline a business plan specifically for the proposed alliance. It doesn’t need to be extremely detailed, but it should clearly outline the functions of each participant, the expected contributions on both sides, and the anticipated benefits both partners should expect to receive. Do some preliminary research to determine if the alliance is actually feasible from a financial standpoint.

Next, learn all you can about the company you plan to approach. It doesn’t hurt to have a list of candidate companies for your proposed alliance. Think of this process as interviewing to fill an executive position in your company. You may need to see several candidates before you find the right fit.

Once you’ve found the right company, initiate contact with the decision maker at the company to whom you wish to present your ideas. Finding the right person within the sales or marketing department will save time and energy. It can be as simple as picking up the phone and asking: “Who would the decision maker regarding _______.” (name whatever your project is.)

After you’ve located your contact person, submit a concise proposal. Explain exactly how the alliance will benefit both parties and if possible include a financial projection spreadsheet. Companies are always interested in the bottom line, so show them the potential profit and you should be able to gain immediate interest in your proposal.

When you’ve secured interest, create a simple contract that outlines who does what, how the money flows, and what the disbursement terms will be. Make sure that everyone understands the role that they play so as to eliminate potential surprises. Follow your gut. You may think a company would make a great strategic partner, but if your worldview or business practices are not the same, you could find yourself wishing you’d never joined forces.

Create a clause in your contract that states you are going to start small or for a limited time to test the concept. This way, if personalities don’t mesh, each of you is free to go their own way with no harm done. However, if things work well, you have a contract in place that will allow you to move ahead full speed when the time is right.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing
firm. He exemplifies how to profit from Joint Venture relationships by
creating profit centers with minimal risk and maximum profitability.
Join his JV Wealth e-zine at http://www.christianfea.com/joint-venture-wealth-report/?a=1

Creating Profitable Joint Ventures

Tuesday, December 2nd, 2008

Joint ventures are a powerful tool to increase your profit, visibility and market share. You can leverage the time and resources of all parties involved and when done properly, bring increased value to the customer base of each business partner within the joint venture.

Successful Joint Ventures Have Several Things in Common:

Understanding a Target Market

A successful joint venture will have an in depth understanding of the target market it is intended to reach. This is important because it will utilize the existing relationships the other company has formed with its customers. If their customers are not your target market, and vice versa, there’s no sense in forming a joint venture. On the other hand, if you’re both reaching the same market with different products or services, you can create an instant revenue stream if the customer views the product or service you introduce as something of value. Remember, value to a customer doesn’t always mean money or savings. Sometimes value can simply be helpful information, times-savings, or value-added services that will enhance their lives.

Enhanced Credibility

Joint ventures that instantly provide you with enhanced credibility are worth their weight in gold. Make sure you choose to partner with a company that has a sterling reputation with its clients and you can immediately increase your opt-in list. People love having the legwork done for them ahead of time and are more likely to use a company that is recommended to them by someone they know and trust. Make sure you guard the reputation of the company who is recommending you by taking the need to service their customers seriously. They’ve put their reputation on the line for you, and you for them, so make sure you both understand you’re sharing are a valuable asset and treat them accordingly.

New Product or Service Offerings

Another feature of a successful joint venture is the new product or service offerings you can provide to your customer base. This works well because you can offer new products or services to your customers with little or no investment of time and money that they may otherwise not have received. When a customer feels you’ve taken additional time to find or pass along quality products or services to them, they will begin to develop a sense of loyalty to your company. Building loyalty in your customers is key to any successful business. Keep the customers you have happy, so that you can continue to expand your network via their recommendations. Just be careful that the products or services you are offering via your joint venture agreement are quality products. You don’t want your customers to get the feeling that you’re trying to make a fast buck. Nothing will give them that feeling faster than shoddy performance from your joint venture partner.

Creating a successful joint venture is worth your time and energy. Do your research, understand your target market, and go out and service them!

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing
firm. He exemplifies how to profit from Joint Venture relationships by
creating profit centers with minimal risk and maximum profitability.
Join his JV Wealth e-zine at http://www.christianfea.com/joint-venture-wealth-report/?a=1