A joint venture with the right partner can instantly double reach and authority in your niche and is based on coveted word of mouth marketing. By strategically creating a joint venture that’s beneficial to all involved, you can each grow your audience, shape your brand, and ultimately increase revenue.
Don’t mistake a joint venture with affiliate or super-affiliate marketing. A joint venture is an agreement that is mutually beneficial to both people in the same way. With affiliate marketing, the affiliate gets a percentage of the pie based on an agreed upon amount. With joint venture, both partners are looking to receive the same amount of compensation.
Why Do A Joint Venture?
The easy answer here is that you want to increase traffic to your website or blog, establish yourself as an authority, and increase sales. That is the goal of business, after all.
Another reason is to increase your visibility among your business peers. When you partner with a bigger more well known brand or influencer, you increase your credibility in their niche market, and vice-versa.
When reaching out and beginning your influencer relationship, be sure to mention the value you have to offer, and how your audience might resonate with their product or service. Remember, we’re all busy and time is money…so, keep in mind that the top marketers, influencers and large brands won’t waste much time with an offer that brings little value to the table.
Types of Joint Ventures
So what does a joint venture look like? It’s an agreement between similar businesses or complimentary niches, to help both influencers in their brand promotion, and it forms a network with the loyal list of readers your partner has already established.
Here are a few ideas for joint ventures to get the ball rolling:
1. Advertising: Banner or Link Exchange
You can post advertisement links or banners on each other’s sites. Look for people or businesses that share similarities with yours or are at least interesting to each other’s site visitors. For instance, if you sell party supplies, partnering with a party planner makes good business sense. Your goal is to be relevant.
If you don’t have a banner, you can make one pretty quickly on BannerSnack. Plans start at $12 per month for unlimited banner downloads you create.
Don’t use those free or cheap link exchange services! You want to build relationships with other site owners and you should be careful about the credibility of those other sites. Don’t hook yourself up into a “bad neighborhood”
2. Guest Blogging
Write website content and blog for each other. This is something that does take a little bit of your time but the rewards are great. By contributing to a blog in your same niche you’re establishing yourself as an expert in that field as well as building links back to your site.
Most website owners allow 1 or 2 “do follow” links within the text and a bio with links so the visitors can click on it for more information.
Share each other’s audiences and tap into one another’s insight. It’s a win for everyone if done well.
3. Link It Up
When you are active in the blogging community you are consistently reading other articles and are aware of the topics. Keep those in mind when you are writing your own articles and link back to them.
Rather than leaving a long comment on a blog post, create an article around it and link back to their post. You’ll add content to your own blog and you’ll be offering a little link love at the same time.
4. Comment Club
Another smart idea is to form a group of bloggers in your niche that will agree to leave comments on each other’s articles. Honestly, I think this should be something we are all reciprocating without forming a club, but it may give us the motivation to kick it up a notch.
It’s like having an exercise partner. You both want to get fit, but sometimes without that accountability of knowing someone is waiting on you it’s way to easy to put it off. Having a group of commenters will keep you accountable and actively involved.
5. Blog or Product Reviews
You see the big guys promoting one another all the time. You always know when there is a new marketing or affilate product launch coming up when you see the same information coming from a group of people. They have their own clubs they have created, so you know it works to create a mass viral effect..
6. Blog Rolls
Blog rolls help your readers (and Google) form a brand image based on the other blogs and authors you look up to and recommend. Blog rolls are those lists you’ll see in a blog’s sidebar that list your recommended reading.
Much like link exchanges, only blog rolls have a more prominent place than an advertising text link, and show your visitors that you recommend this other blog or author as an authority. It’s another way of establishing that joint venture you’ve agreed upon with your influencer.
I’m sure there are plenty of other creative ways to create a joint venture with an influencer that I may have missed. What have you found to work well? What new ways can you think of to share here? Leave your comments below to get some feedback.
To Your Success,
P.S. ~~> I am always on the lookout for ways to cross promote and help one another. If you’d like to band together with me and others in my niche, drop me a line with your idea and we can discuss the opportunities!