The Most Powerful Marketing Method Ever Invented
I want to talk about one of the quickest and smartest ways I know of to make
money both on and off the net. It is called Joint Venture Marketing. Some of you may
already have experience with this marketing method while to others it may be
For those of you who are familiar with it, bear with me, I am not going to simply
recite the same facts over and over again; and for those of you with no prior
knowledge of this concept, I think that you are going to be very, very pleased with
what you learn today.
Joint Venture Marketing just may be the most powerful marketing method ever invented.
It is the strategic use of a companies underutilized assets to make profits that they
did not make before. Underutilized assets are those assets that a company has and yet
does not use, the most common of which is a companies customer database or their list.
You see, most companies (if they are smart) maintain a list of the people who have
bought from them. This list could also be of potential customers, those individuals
who have expressed some interest in the company's products and/or services in the past.
This makes them stand out from someone who has never contacted the company
before. In the Direct Marketing Business, we call these people, PQL's or pre-qualified leads.
They have raised their hands and said in effect: "I am interested in what you have to
offer; tell me more".
Most companies do not realize the value of "the list". It is a golden rule in marketing
that once a prospect becomes a customer they should be considered a customer for life.
You can sell to those customers over and over again because you have already established
trust. (This is assuming that you only sell quality products, if you sell quality products and
provide great customer service you will go a long way in creating a lasting relationship with
This trust is a key element in Joint Venture Marketing. JV Marketing involves the
recommendation or endorsement (keyword remember that) of another marketer or their
product to your customer list. Assuming that I own a list and another marketer contacts
me and asks if I will endorse their new product to my customer list, we arrange a
deal where I send a mailing to my list endorsing this person or their product.
This endorsement contains two key elements:
1. The trust between the list owner and their previous customers⁄prospects.
2. The product/service of the other party.
The list owner is recommending the new product⁄product owner to their list.
Referrals are everything. I have seen and read examples of this kind of endorsement
marketing bringing in unheard of sales percentages for the product owner.
The reason for the high sales percentage is based on the fact that this is a warm
list. What that means is that the list owner has already established a relationship with
the people on his/her mailing list. They trust the list owner. In contrast, you have a "cold list".
This is one that has never heard of the person mailing to the list. Most likely that
person rented a list of names from a list broker and is just mailing blindly to a list that
neither knows nor trusts him.
Can this endorsement really make that much of a difference? How about going
from 2 percent of sales to 24 percent.