5 Common Joint Venture Mistakes Internet Marketers Make
Copyright 2008 by Willie Crawford
As a joint venture broker, and mentor to many marketers
launching new products, I see a lot of Internet marketers
making many of the same mistakes.
Some of these easy-to-correct mistakes can mean the difference
between a wildly successful launch, and one that doesn’t even
sell enough of the product to cover development costs.
Here are five all-to-common mistakes that can kill a joint
venture product launch before it even gets out of the
staring blocks.
1) Making Joint Venture Partners Jump Through Hoops
Often the super affiliates and busy website owners that you
approach won’t go through an elaborate sign-up process to
register as an affiliate/JV partner. Some will love your
product idea and begin to sign-up as an affiliate, but as
soon as they see that they need to register (and confirm)
in numerous different places, many will NOT complete the
registration process.
If they need 20 passwords, and all kinds of secret
handshakes just to peek at a review copy of your product,
many will not waste their time.
It’s your job to make it NO work for your joint venture
partners. Sign them up, send them their log-in information,
and only ask them to verify their details.
Provide them with a fully-functioning FINAL version of
your product for them to review so that they can decide
if it’s even appropriate for their customers.
2) Not Giving Joint Venture Partners Enough Lead Time
Many busy super affiliates have promotional calendars
flowed out over a month in advance. Some have commitments
with partners that go out for several months.
If you request a joint venture with less than two weeks lead
time, you should EXPECT most affiliates to politely decline
to participate… or even not to respond to such an
unprofessional request.
3) Not Deconflicting Launch Dates.
There is nothing sadder than planning a “big” launch, putting
all of the pieces in place, and then finding out a few days
before that “Mr. Big” also has a launch planned for the same
day. It’s even worse if “Mr. Big” has already recruited
your desired JV partners to promote his launch.
The way to avoid this one is to tap into launch databases
such as the one maintained by The International Association
of Joint Venture Brokers (at http://IAJVB.ORG)
4) Not Answering The “WIIFM” For Potential Joint Venture
Partners
Your potential joint venture partners have LOTS of potential
products to promote. So they silently wonder why they should
promote yours over a competitor’s product. It’s your job to
answer that question and many other “silent questions” in
order to recruit the joint venture partners.
In answering the “What’s In It For Me” (WIIFM) you need to
explain how it’s going to help them, help their customers,
and you need to frame all of your answers from their
perspective. Potential joint venture partners, and their
customers, don’t care about you and your products. They care
about what you can do for them.
5) Having A Product That No One Wants
It doesn’t matter how original, clever, cheap, or needed a
product is – if the market doesn’t want it, you have a flop.
If your potential joint venture partners sense that their
customers won’t buy it, they’ll logically decline promoting
your product.
Far too many products are created that the market doesn’t
want, or wants but is unwilling to pay for.
You absolutely MUST do your market research first and
verify that the market really wants and will buy your
proposed product. Better still, they should be already buying
a similar product.
Look carefully at your joint venture project plans. If they
have any of these glaring mistakes, correct them before
approaching potential joint venture partners. You’ll
have much better results, and you’ll be glad that you read
this article.
————–
Willie Crawford is a leading joint venture expert and mentor
to many of the top Internet marketers. He teaches how to set
up absolutely irresistible joint venture offers via his
tele-courses. Watch a free video with more joint venture tips
or join his tele-class at: http://WillieCrawford.com/JVs/
Tags: how to set up joint ventures, joint venture broker, joint venture course, joint venture teleseminar, joint venture tips, Joint Ventures, Joint Ventures Expert