How to Use Blogging to Market Your Joint Venture
Social networks have become one of the hottest ways to promote and market business – and blogging is still at the top of the list. If you have formed a joint venture and are looking for new ways to attract and retain customers, then you need to get on board the social networking train. Here’s some great ways you can promote your business on the web.
What is a Blog?
In the 1990s, it was hip to have a website. Internet access grew at an astonishing pace, and any business with a website had a leg up on the competition. Now businesses with an edge are those with a blog.
Blog is short for web log. It’s simply a way to write about your JV and publish it on your website easily, quickly, and with great results. Each blog post acts as its own web page. Thus, it is searchable from major search engines. And the more frequently you update your blog with pertinent information, the better chance your blog will show up on a search result.
You and your joint venture partner can easily set up a blog with no money using free popular blogging sites such as Blogger or WordPress. You can also obtain a unique URL website address for your blog for a small fee.
How Your JV Should Blog
So how do you blog? It’s simple. Write a short article that promotes your JV business in some way. Though some blogs have long posts that are more like never-ending political overviews found in The New Yorker Magazine, people who read blogs on the Internet like to get their information in shorter doses. Try to keep your blog posts to about 300 to 400 words, and that will make it much easier for a follower or potential customer to read.
The content of your blog is the most important thing. You want to post articles and short quips that tell a reader about your business. How can they benefit? How does your JV product make their life easier? What’s in it for them? Tell them all the great news and don’t hold back.
You could write short case studies of how a specific customer benefited from your JV product. Include testimonials from customers as well. If potential customers are going to try your product, they like to know that others just like them endorse it.
A blog can also have short features about you and your JV partner, and other employees of the JV if you have them. What are your interests? What makes you enthusiastic about your JV business? Give customers a reason to know you are human and are just like them.
Blogging can be fun and a great way to promote your JV business. And since setting up a blog is so easy, why not try it? Get on the “blogosphere” today and find your niche in promoting your JV business on the Internet.
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 free Joint Venture Wealth Report at http://www.christianfea.com/joint-venture-wealth-report/
4 Ways to Keep Up With Your Joint Venture Competition
What are your competitors up to? Do you know? If you don’t know or fail to pay close attention to the movements of your competition, you could be placing your joint venture in jeopardy. While you are blissfully oblivious to competitors’ marketing efforts, they may be employing strategies to take more of the market share, enticing your customers to change loyalty and even ultimately putting your JV out of business.
If you and your JV partner want to continue a successful venture, then you must keep your proverbial ear to the ground on others’ marketing efforts. Here are five easy ways how:
1. Visit in Person Regularly
Some of the best competitor intelligence you can gather for your JV business is done in person. If your competition is local, keep a regular schedule to visit their stores often. A personal visit, even to “browse”, can reveal important details as to how the stores operate, their customer service level, and their frequent promotions. Keep an eye on displays and merchandise promotions. Go through and make notes on their pricing.
If visiting in person is not viable, be a regular browsing customer on the websites of your competition. By frequent web browsing, you can gather much intelligence, such as site design, special promotions and coupons, and even biographical information on the leadership.
2. Be a Customer
Visiting a business can be helpful, but becoming a customer is even more valuable. Make a purchase every once in a while. Buy in person, over the phone, and online to see how they manage the transaction process. Take special note of the customer service they use. If you are afraid of being recognized, hire a “secret shopper” to do the intelligence gathering. With this information, you can acquire tips on how you can improve your own service and transactions to beat the competition.
3. Subscribe
If your competition offers customers a way to sign up for special deals and promotions then get your name, or an alias, on the list. You will want to know how often your competition sends coupons or special offers through the mail or email, and how they contact their customers. Newsletters are also a great way to get valuable information for your own JV promotions.
4. Watch the Advertisements
Part of your JV competition research should be a regular review of published ads. You should already know the best places for media ads, such as television, newspapers, magazines, etc. Keep subscriptions of these and watch how and where your competition places ads. Check the size and quality of color and graphics. What are the promotions? You can formulate your own JV marketing strategies to beat the competition when you know how and where their ads are placed.
Market research is always an ongoing process, especially when it involves your competition. Never let your JV business lag behind. Get into the habit of keeping up with your competition so your own JV marketing strategies stay fresh.
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 free Joint Venture Wealth Report at http://www.christianfea.com/joint-venture-wealth-report/
How to Improve Your Psychological Health for Your Joint Venture
Running a business and managing a joint venture can be stressful. How are you managing your own psychological health? If you wish to improve your contribution to your business and your joint venture, here are some important things to consider.
Self Awareness and Self Regulation
Do you analyze your reactions? Do you ask yourself, “Why did I do or say that?” If you do, then you are well on your way to self-awareness. Being self-aware means you have the ability to recognize stressful situations when they arise, and you can understand your moods, feelings and emotions regarding those situations. Becoming self-aware also means that you recognize how your moods and emotions affect others.
If you want to improve your psychological health in your JV business, then the next step is self-regulation of your moods and feelings. Only after you are consistently self-aware can you work at self-regulation. Self-regulation means you take an active role in controlling and redirecting your negative moods and impulses. It means you think before you act. And stopping to think gives you the ability to suspend judgment and take time to determine the best way to react.
Motivation
Only you can find the joy in your JV work. Perhaps you find joy working with your JV partner. Or you most enjoy creating new business and marketing strategies. Even if you spend the least amount of time on the things you enjoy most, make it your motivation to pursue those things with passion.
Passion is a big motivator. Passion gives you a reason beyond money or power or status to enjoy what you do. Passion gives you energy and vigor in your pursuit of happiness. Look for the passion in your JV business and help it to motivate you toward success and enjoyment.
Empathy and Interpersonal Communication
If you will succeed with your JV, then you need to communicate effectively with your JV partner and others. The first part of effective communication is empathy. Empathy means you listen and understand the point of view of the other person. It means stepping into their metaphorical shoes and feeling what they feel.
When you know and understand others by empathizing with them, you can then become proficient in finding common ground. Building rapport with another individual is so important to understanding and finding the vocabulary necessary to exchange ideas and to negotiate.
There is not one person who could not use improvement with their self-awareness, self-regulation, motivation, or communication. Improving your psychological performance takes skill, and skill takes practice. Start now at practicing self-awareness. Practice finding motivation and enjoyment in what you do. Practice empathy and better communication. Your JV will experience more efficiency and smoother operations when you use these simple tools to improve your performance.
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.
To discover more Joint Venture Marketing Strategies join his free Joint Venture Wealth Report.
Give Your Joint Venture Customers A Reason To Buy
Have you formed a joint venture and experienced less-than-stellar sales compared to your expectations? Usually two or more entrepreneurs or business owners partner up to form a JV with the full intention of making more profit. However, the problem may be in the marketing of your JV product or service. Simply putting a product on the market doesn’t necessarily convince a potential buyer to make a purchase. That’s why you need to use marketing psychology to give your potential customers a reason to choose your product.
Triggering Psychology for Sales
Picture this situation: I recently was at the grocery store standing before an aisle full of different brands of green beans. There must have been 10 or more options, all with different price and packaging. As I stood there scratching my head trying to determine which can would have the best tasting green beans, I found one brand with a simple marketing line: “Picked fresh from local farmers and canned the same day for freshness”. I remember picking greens beans fresh from my grandma’s garden when I was a kid and enjoying a tasty meal that same evening. I chose that brand because I wanted the same kind of freshness, despite the fact it cost 20% more than the basic generic brand.
This example illustrates why your JV product must differentiate itself from the competition. Consumers are indecisive. Help guide their choice by giving them a reason to buy your JV product. It doesn’t even have to be a proverbial grocery list of reasons. But simply highlighting a few simple benefits can help solidify a consumer’s decision.
Reasons Your Customers Buy
Here is a small list that is by no means complete regarding why your customers buy.
* Price – Some people will always base a decision on price. However, that doesn’t mean your product has to be the cheapest. You could promote that your product costs less than the leading competitor. Or you could charge a premium, but give a good reason why your JV product is worth it.
* Quality – Consumers like quality. Be sure that your product is manufactured or produced using quality and durable materials. Or if you offer a service, make it the best quality service and be sure to explain why it’s better than the other company.
* Innovation – Something new always attracts customers. Highlight how your JV product is innovative and can solve their problems better than standard products seen on the market today.
* Warranty/Guaranty – People also like to know that you will stand behind what you sell. Offering a warranty on a product or guarantying satisfaction can provide them with the impetus needed to buy your product.
Make sure your JV product or service stands out from the crowd. If you want to see your profits expand, then take the time to provide the reasons why customers should buy your product.
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.
To discover more Joint Venture Marketing Strategies join his free Joint Venture Wealth Report.
Give Bulk Bonuses for Bigger Joint Venture Profits
If your joint venture sells a range of products or services, then most likely you have a pricing list. This is a simple marketing printout that displays or lists your products for sale from the cheapest to the most expensive. The question is, are you cutting prices or giving bonuses to customers at the most expensive level? If you find that the sales of your higher end product offerings are lean, then read on to find out how you can give customers a boost when buying bulk.
Are Discounts Enough?
Many businesses cut prices. For instance you might sell an apple for $2, and you may promote a bulk discount by offering 3 for $5. That saves the customer money by purchasing in bulk and cuts the price of each apple by about $0.33. It also gives your JV cash register a bigger single sale.
This type of bulk pricing is seen all over the spectrum of business, and not just at the retail level. Wholesalers offer big discounts for buying in large quantities. Costco members can get a case of candy bars for cents on the dollar found at retail checkout lines.
However, price slashing for bulk, or for the bigger and more expensive items your JV offers, may not be tapping into the full potential of sales. Why not give something extra for customers who pay more?
Give the Extra Bonus
The fact is many customers will not buy bulk because they simply don’t need it at the time. If I needed only one apple, I would just buy one apple from you, even though I know I could save a few cents if I bought a few more. But what if your JV business offered me a free caramel dip for buying 3 apples at full price? That’s even more value to me! I then realize that I’m getting something for free and not just saving money. That’s a big psychological difference in the consumers’ mind.
Case Study: How Bonuses in Joint Ventures Work
It’s that something extra that gives customers incentive to put out more money. Here’s an example. John and Bill formed a JV wedding video business. John was a freelance video editor and Bill was a video producer the camera equipment. Together they offered various wedding video packages ranging from $500 to $5,000. They made more $5,000 sales than their cheapest package and saw their bottom line explode with profit. Why?
At the highest end of their package deals, they offered the bride and groom a free romantic stay at a local posh hotel, a free new DVD player, and a free short documentary featuring a love story about the couple. These few extras made the highest end package the best deal for customers, and John and Bill profited from their clever marketing.
Don’t just cut prices for your highest end products. Give something extra. The extra value that the customer gets from buying bulk will help them open their checkbooks and help drive your JV profits.
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.
To discover more Joint Venture Marketing Strategies join his free Joint Venture Wealth Report.