What I would like to offer here are some concrete tips for scoring your first "home run" JV.
What is a "home run" JV? This is a JV that moves you up a level. It's a JV that moves you from sayer to player as I often describe.
By way of background let me say that JV's are *the* thing that ultimately took my business to critical mass.
Once I put the ingredients together it happened within a matter of weeks, not years or even months. Weeks. And I did it with not a single major player in my market.
Most people don't realize just how powerful JV's are. Understand this:
Someone else already has a relationship with the very people you are trying to reach. In fact TONS of marketers already have relationships with the folks you want to reach.
Do you get how powerful that is? You want traffic, sure everyone wants traffic. But how about traffic that is coming by way of referral from someone they know and trust? Nothing and I mean nothing compares to that.
Some people will read this and still believe it's not possible. Fine. Belief is everything folks. If you think it's not possible it isn't. 'Nuff said.
For those who really *see* what I'm about to share, a light will go on for you. Things will suddenly come together in your mind and you will *get* just how fast this can move in your favor.
So what are the ingredients for your first successful "home run" JV?
Ingredient #1: All you need is ONE
Really, really get what I'm about to say. All you need to catapult yourself into a stable five-figure monthly business is a single JV with the right list owner.
Why on earth does it only take one JV to get the snowball started and growing? Simple: that JV partner knows at least 5 other marketers who will want to work with you if the JV goes well. And each of those five know at least 5 others. Etc. Etc.
You get the idea - this is extremely powerful and causes things to move fast. VERY fast.
So who is the "right" list owner to start with? Well truth is it could be any number of people. But it does NOT have to be someone with 50k or 100k+ subscribers. Besides those folks are relatively few and far between in most markets.
The "right" list owner for your first "home run" JV is someone who:
- has an established presence in their market
- has actual rapport with their list - their list actually responds to them
- has at least 5-10k subscribers on their list including a certain % of buyers
- is willing to send to ALL of their list, especially the buyers
Knowing who is the "right" list owner is perhaps more of an art than a science. Usually it's someone whose list you're on that you really like. You like what they say, you like how they write....you respond to them.
Hint: If you respond to them and are often inclined to buy whatever they send you, chances are great many others do too. Your gut may well be the most overlooked tool for business success.
The right list owner could also be someone you are a student of - you bought their course, training, etc. and their audience is the same market you're targeting.
Well guess what? If you can identify a list owner who you've bought from and respect, this can be the ideal home run JV partner because you get to make them look good in the process.
So that's the first ingredient: the right list owner.
Ingredient #2: Complement, complement, complement
No I did not spell it wrong. It's not complIment but complEment. Here's the definition.
Complement: To complete or perfect. To supply that which works with the other to complete the whole.
What on earth am I talking about? Simple:
Your product should not compete with what the list owner sells - it should complement what the list owner sells.
The ability to do this comes down to two things:
1) Understanding the wants and needs of the market/niche
2) Knowing what the market/niche is already buying
That's it. When you know those two things you can find or create a product that complements what is already being sold.
It's ridiculously easy to figure these things out. All you have to do is get into the dialogue of the market and pay attention.
Get on as many lists as you can. Figure out what's already being sold. Figure out what's missing - what could complement what's already being sold. Then go find or create it.
That's it. That's all there is to do.
Let me tell you - JV partners will swarm when you come to the table with something that complements rather than competes with them.
Ingredient #3: Offer, Offer, Offer
Like the other categories this could easily be it's own thesis paper.
The bottom line is you MUST have a compelling offer that makes a hungry market want to bite, and bite right now.
My rule is this: if you can't explain your offer to me in 20 seconds or less where I immediately see why that particular market would jump all over it, then back to the drawing board. Really, I mean it.
The key to this is that great offers are always s-i-m-p-l-e. Not only are they simple but they speak directly to a fundamental want of the target market. Not a sideline want, not a minor want but a MAJOR want.
Figure out what the top 3 things are that keep your market up at night. Then be sure your offer speaks directly to one or more of those three things.
Study the offers being made by other marketers that are clearly working. What is being offered? How are they offering it? What are they saying in the offer? Why are people jumping on it?
There's a reason those offers are working. Pay attention and model success.
Sounds simple right? Yes because it IS.
Ingredient #4: Conversion, Conversion, Conversion
This is crucial. For the "home run" JV to happen such that it propels your business to the next level, the JV has to do well. Period.
In other words it must, must, must convert prospects into buyers.
At the end of the day JV partners want one thing: results. All the other stuff (business relationship, friendship, etc.) is icing on the cake. But the cake had better be there or no one can eat.
Conversion is perhaps the most challenging ingredient because it requires skill and instinct.
It has directly to do with how you move the customer from prospect to purchase. You'll often hear it described as putting the prospect through certain "steps" (e.g. a multi-step campaign).
The good news is conversion can be simple too. Because again it's as much art as it is science (in my experience).
Ultimately I can tell you that good conversions have to to with the following:
- The offer itself: does your offer speak directly to a major want of theirs?
- Existing customer behavior: can they relate to your offer and the way you are selling it?
- Steps: do the steps you are using make it EASY for them to buy?
- Risk reversal/guarantee: have you reversed the risk and made it a no-brainer?
Again this could be its own entire course. But this ingredient is critical.
Ingredient #5: Intention, Intention, Intention
Last but not least, it is vital that you are clear on your intentions. This may seem strange but hear me out on this.
In my experience it's one thing to bring a phenomenal offer to the table that complements the JV partner and converts like mad. It's entirely another to have solid intentions behind what you want to do for not only the JV partner but the market as a whole.
Folks, the customers buying your stuff are human beings. They wake up every day trying to survive just like you. They have wives, husbands, sons, daughters, bills, health issues...etc. etc.
Here's what I'm saying:
If your intentions behind selling your product - as well as your intentions behind doing the JV - are authentically about making a difference for real people, it comes through. When your intentions are NOT about that, this comes through as well.
It comes through in your product and it's design. It comes through in your marketing sequence. It comes through in how the JV partner perceives you......
It comes through in every single communication you make.
And guess what? I've personally found intention to be one of the key elements to making a TON of sales.
Ultimately intention may not be the most technical ingredient on the list. But it just may well be the most important ingredient for success.
Now go out and score a "home run" JV. You deserve it. And so do THEY.