Elsewhere in these newsletter issues we’ve talked about how to use joint ventures to grow your list and generate traffic. The ideas you learned about included activities such as doing free webinars with other people in your niche.
However, you don’t need to limit yourself to creating free products with your JV partners. Indeed, creating paid products with others is a great way to establish yourself in a niche (by associating yourself with other experts), as well as create a product fast without doing hardly any work.
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Ready to put this strategy to work for you? Then follow these steps…
Step 1: Decide What Sort of Product to Create
Your first step is to decide what sort of product you’d like to create with your partners. If you want to create a relatively big product without doing much of the work yourself, then I suggest you gather together one or two dozen partners and ask them to all contribute something to a product.
There are a couple ways to do this:
- Ask people to contribute a tip or instructions based on their specialty. For example, if you’re creating a dog training product, you might have one person share five tips for teaching a dog to sit, ask another expert to share five housetraining tips, and so on. In this example, you’d end up with a product with dozens of tips across all the popular training topics.
- Ask one question and have a variety of experts answer it. For example, you might ask a group of marketers the best way to get 1000 targeted visitors. Your SEO experts is going to answer based on optimizing for the search engines. Your social media expert may talk about Facebook. Point is, every expert will have a different answer, which will make for a valuable product.
Next…
Step 2: Search and Research Potential Partners
Once you decide what sort of product to create, then you can go in search of suitable partners. You can find them in the following ways:
- Search Google for your niche keywords (such as “dog training” or “golf”).
- Check paid ads on Google as well as on niche sites.
- Search social media (such as Facebook) to see who has large, active audiences on their pages and in their groups.
- Look at marketplaces such as ClickBank.com to see who has the bestselling products in your niche.
- Research recent affiliate contests in your niche to see who was at the top of the leaderboards.
- Ask your audience who they follow in the niche, what products they like, which blogs and newsletters they read, etc.
- Check the list of niche blogs and newsletters you read to see if you forgot anyone.
The key here is to research each potential partner to be sure they’re honest, trustworthy and have a great reputation in the niche. To that end, research each person by searching for their name and business name in Google. Cross off anyone who shows red flags when you research them, and then take your newly shortened list to the next step…
Step 3: Approach Potential Partners
It’s best to build relationships first and then approach partners with a joint venture. Whether you use this recommended method or approach cold prospects, be sure to focus on what benefits the partner will receive if they participate in your venture.
Check out this sample email…
Subject line: [Big name] is in – are you?
Hi [Name],
It’s [Your Name] from [Your Website], and I’m writing to give you an opportunity to enjoy massive exposure in exchange for small investment of your time.
Let me explain…
All you have to do is [explain JV – e.g., “write a 500-word article…”]. In exchange for this [short amount of time, e.g. 15 minutes] task, you’ll get:
- [Insert bulleted list of benefits – e.g., a link inside the product for backend sales, exposure to approximately X number of people, get your name alongside other big names in the niche such as [Name] and [Name], etc.]
As you can see, you get a lot of benefits for a tiny investment of time.
We’ve already got [two or three known experts] on board – can I count you in too? Hit reply now and let me know…
[sign off]
P.S. Please let me know if I should hold your spot or give it to someone else. You’re my first choice to [teach some topic], so I hope you can reply now with a “yes!”
Step 4: Manage the Project
Once you have your partners on board, then your job is to manage the project so that all partners have a great experience. If they have a good experience and enjoy a lot of benefits from your JV, then they’re sure to say “yes” the next time you propose a JV.
Keep these tips in mind:
- Remind partners of deadlines. While this is the most important project on your plate right now, it may not even crack the top 10 for your partners. As such, remind them of deadlines and encourage them to finish their contribution in a timely manner.
- Offer a “last chance” to people who don’t get it in on time. Let them know you understand how busy they are, and then give them a few more days to send you their contribution.
- Thank everyone. Let them know how much you value their contribution and how pleased you are with it (and them).
- Create a professional-looking product inside and out so that your partners will be proud to be associated with it.
- Ask your partners how you can help them once this JV is over, such as endorsing one of their offers on your platforms.
Now a few parting thoughts…
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Conclusion
Doing joint ventures with other notable people in your niche is a really good way to establish yourself in the niche, create a valuable product without doing much work, and creating something that your audience will really love. That’s why you’ll want to put the above strategy to work for you!
That’s it for this issue of “Three to Thrive.” Keep an eye on your inbox for your next issue, which is coming your way soon!
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