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Marketing tips for Small Businesses
Maximise your opportunity, leverage Relationships & Joint Ventures
Sometimes known as a J.V, a Joint Venture is where you and another business or person collaborate together to (usually) cross-market your products/services. The key to Joint Venture success is to find someone credible, who offers a non-conflicting product or service to the exact same profile of person or business as you do.
So, if you sell recruitment services to the hospitality industry and they sell employee benefits packages to the hospitality industry – BINGO! They can include one of your flyers or letters in one of their mailings and you can do the same for them; everybody wins. Avoid doing a Joint Venture with anyone who contacts you via email, unless of course you know them or can check them out. If in doubt, don’t risk it, its your reputation.
An endorsed relationship is similar to a Joint Venture but with a massive difference: The person you do the venture with actually gives you their professional or personal endorsement. This is gold dust.
For example: Rather than just slipping one of your marketing flyers in with one of their customer mailings (as they would in a Joint Venture), they actually write to their customers and give you their full endorsement.
An endorsed relationship is one of the most powerful marketing tools on the planet. We have seen targeted endorsed mail shots and emails return a 90% positive response rate. Happy days!
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