If you want others to promote your programs, it’s good business to promote them too. This is referred to as a Joint Venture relationship and it’s a form of collaboration to help each other succeed.
It can look different from partner to partner. The intention is to create win-win opportunities.
The more successful you are at promoting someone, the more incentivized they are to do a great job for you too. Not only will it build goodwill, but you are also likely to make money or get new leads, depending on the arrangement. As you experiment you will learn what types of partnerships are profitable for you.
I’ve participated in quite a few partnerships over the years and I do best when I follow a few basic guidelines…
4 Guidelines for Successful JV Partnering
1. Choose well
Knowing what kinds of challenges the people on your list face will help you determine what types of offers to promote. You want to look for offers that support your clients in ways that you do not. The people on my list generally want more clients and that dream lifestyle. They also value coaching mastery and new ways to be of service. Plus my list leans towards creative approaches. Given that, I look for a mix when I choose who and what to promote. I also want to promote things I can get 100% behind.
2. Get familiar with the launch schedule
Not everyone does a full-out launch, but whatever the promotional plan, get familiar with it. If free gifts or trainings are involved, determine which ones will be most exciting for your people. Know when the actual offer will be introduced. If it’s during a masterclass or a webinar, definitely promote that, because this is when sales will happen.
Be aware of what bonuses are being offered and when, people love to get ‘deals’. And also plan to promote during cart close. If your people are teetering on the fence, a nudge from you can make a difference.
3. Choose to be all in
For me, this means two things; 1. Setting an intention to do well (aka getting on the leaderboard if there is one) 2. Sending out more than a couple of emails. I will send throughout the launch. I’ll definitely send for the event that first introduces the offer and I’ll participate on cart-close day with several emails and a bonus.
4. Segment your list
When I’m all in, I may send 4-10 emails promoting someone, but I don’t send all of those emails to everyone on my list and you shouldn’t either. If, for example, I plan to send 10 emails, only 3 will go to everyone. The others might go to just those who opened an email or those who clicked on links or maybe even those that didn’t click a link. The last couple of emails is really targeted toward those who’ve shown interest.
Partnering may not be for everyone and you do need to have a list of some sort to participate, but it’s worth considering if your intention is to grow and scale your business