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4 Ways Joint Venture Marketing Can Increase Your Business

4 Ways Joint Venture Marketing Can Increase your Business

Joint venture marketing is one way to increase your customer base without heavy advertising costs. This marketing tactic takes advantage of the experience and reputation of a company in a related field to help you secure new clients and get your company noticed.

Here are four ways that joint venture marketing can improve your bottom line:

1. Reputation

When you are a newcomer to your industry, it may be difficult to convince potential customers that you have the experience needed to meet their needs. However, when your name is associated with another established company within your sector, it automatically gives you credibility in the eyes of prospective customers. Linking your name to a larger, more established company will make it easier to network with other professionals in your industry, and build a positive relationship with the general public.

2. Cost Effectiveness

Some small business owners may shy away from “playing with the big boys” because they're afraid they don’t have a big enough budget. However, joint venture marketing is an inexpensive way to get your business noticed because there is rarely cash due up front, since the company works with you for a share of your profits. Although the share may be large at first, the customer base you build will be well worth the investment, and you can begin the venture any time, since there is no capital needed. 

3. More Exposure

Exposure is essential if you want to attract more customers to your business, and what better way to gain exposure than with the help of a bigger, more established company in your sector? While your website might see relatively few hits each day, your JV partner may see tens of thousands of hits regularly, and all of those potential clients will find your business name as well. With an abundance of advertising for very little cash, most small businesses would benefit from this type of arrangement.

4. Stronger Competitive Edge

If you want to compete with the bigger companies, you have to get your name out where bigger companies are being found. Smaller businesses have difficulty showing that they are capable of providing the same goods and services as larger competitors. When your name is associated with these larger companies, however, customers automatically link your business to them. This gives you a competitive edge, because your company is included with the rest of the “big boys” when the customer is ready to spend.

If you need help growing your business, please contact us for a FREE consultation.

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