Introduction
Hey there! I have a question for you. Are you aware of how entering a Joint Venture launch can get more visibility for your products?
First off, you may be wondering what a Joint Venture Launch is. A Joint Venture Launch, JV for short, is a great way to build connections with industry leaders as well as build your email list. Furthermore entering a joint venture launch can be an excellent way to expand your business and tap into new markets by leveraging the strengths of another industry leader. In this article, we will discuss five steps to entering a joint venture launch.
Consider this before Joining a JV Launch
I had no idea what a JV launch was until my business partner, Dairrick introduced me.
One key consideration in entering a joint venture launch is identifying the right leader to partner with. This decision can significantly impact the success of the venture. For example, if you are a Health Coach, most likely you wouldn’t want to partner in a joint venture with a plumbing company. You want to make sure that all parties share the same goals and values and have complementary strengths to effectively work together.
To ensure the success of a joint venture launch, it’s important to implement a strategic approach that maximizes the potential of all parties involved.
Create your product for the JV Launch
Whenever you create and submit a product for a JV launch, make sure it solves a problem. The product creation process involves designing, developing, and testing the product to ensure it meets the target audience’s needs. At the time, my target audience was women dealing with anxiety because I am a woman who deals with anxiety. During my first JV launch, I gave away my “Calm Down” Worksheet which was intended to help readers gain peace of mind and well, calm down. The Calm Down sheet includes prompts and tips to help you ground yourself when experiencing heightened anxiety.
Entering a Joint Venture Launch Requires a Landing Page.
Landing pages can seem daunting when first starting, but they are essential to participating in a JV Launch! Why do you need a landing page? You need a landing page to grab the attention of potential subscribers. The landing page should be clear and visually appealing, highlighting the value of your product and enticing visitors to give up their email addresses for more information. This is also where the subscriber will opt-in to receive their freebie. Be sure you have an attention-grabbing headline as well as a professional-looking graphic for your product!
One more thing to point out is to have a clear call to action. In other words, your visitors need to know what to do once they hit your page. If they are confused, they will leave. I’ve experienced this as well. I’ve had feedback from visitors who weren’t clear about what I do online. I appreciated their feedback because it helped me clarify and simplify my offer. Examples of Clear Calls to Action are “Sign Up Now” or “Learn more by clicking HERE.”
If you need help creating an eye-catching landing page for your product or service, my team can help you. You can book a call with me HERE to discuss building a landing page for your business. But let’s keep focused on this article.
Make sure your cart is working before signing up for the launch.
A well-functioning cart system is crucial in driving sales, in capturing customer information, and maintaining positive user experiences. I participated in a different JV launch for subscribers to download my Anxious Author Starter Kit. I received quite a few emails from customers reporting that the cart on my website wasn’t working. To be honest I was embarrassed because of this mistake. And I most likely lost sales because of it. I checked my back office and noticed attempted purchases that never went through from a year or so ago! Yikes! At the same time, it was a learning curve for me. My business partner and I were able to figure out the cart so it would work properly for future JV launches!
Have an email sequence automatically sent out to customers after they opt in.
The email sequences are used to connect with your subscribers and remind them of the awesome freebie they just downloaded. Here, you show subscribers the benefits of the download as well as why they may be a fit for your program. Always begin your email sequences with a welcome email that reintroduces yourself and demonstrates your authority in the space. Remember to keep your email sequence informative. Don’t bore your customers to death with overly long messages. Also, don’t email them too much.
I must admit that email marketing has been a learning curve for me. Engaging your list can be difficult because rarely anyone emails you back to let you know what’s working for them and what’s not, at least that has been my experience. So you keep engaging your audience until you have something that makes them raise their hand.
Make sure your pages that follow the opt-in make sense.
For example, I joined this JV Launch with my Author & Authority Media & PR Kit. I had Val Selby, Co-organizer of the JV launch, test my product and she discovered that my pages didn’t make sense. After she opted in, she was redirected to my page that listed journals for anxiety. If I would have kept this page in place, subscribers would have been confused. So I went into the back office of my website and tailored the subsequent page to display all things, author! In turn, we avoided questions from confused customers.
Sign up to be an Affiliate!
If you’re a contributor to the JV launch, you may as well sign up to be an affiliate. You never know, you may receive a commission when someone signs up with your custom affiliate link. This happened to me so it can happen for you as well!
The amount of commission that you are paid, depends on the organizer of the Joint Venture Launch. I was able to make a 50% commission for every purchase through my link. If the product sells for $400, and the commission rate is 50%, that’s $200 for you! An extra $200 would be awesome!
Final Thoughts
I hope you’ve gained knowledge from these 5 steps to entering a Joint Venture Launch. I hope that I have prepared you to join one of your own soon!
It could be the key to turning your business into a money-making machine! If you have any questions, feel free to reach out to me in the Tarafied Tribe.
Love you for reading!
Frequently Asked Questions
A Joint Venture Launch is a collaborative marketing strategy where two or more businesses partner to promote a product or service to a larger audience. This type of launch can benefit your business by expanding your reach, increasing brand awareness, and boosting sales through the combined efforts and networks of all participating partners. By leveraging each other’s audiences and resources, you can achieve greater visibility and credibility in your market.
When choosing potential partners for a Joint Venture Launch, consider the following:
Audience Compatibility: Ensure that their audience aligns well with your target market.
Reputation and Credibility: Choose partners with a good reputation and credibility in your industry.
Complementary Products/Services: Select businesses offering products or services that complement yours without directly competing.
Mutual Goals and Values: Ensure that both parties have aligned goals and share similar business values for a harmonious partnership.
Track Record of Success: Look for partners who have a proven track record of successful collaborations and launches.
Sales and Revenue: Track the increase in sales and revenue generated from the launch.
Audience Growth: Measure the growth in your email list, social media followers, or website traffic.
Engagement Rates: Monitor engagement metrics such as open rates, click-through rates, and social media interactions.
Conversion Rates: Analyze the percentage of your audience that takes the desired action, such as making a purchase or signing up for a newsletter.
Return on Investment (ROI): Calculate the ROI to assess the financial effectiveness of the joint venture.
Customer Feedback: Gather feedback from customers to understand their experience and identify areas for improvement.
