Why joint promotion is incredibly underrated

Joint promotion is an area of business ripe with opportunity. I believe it to be one of the most underrated marketing methods out there. With a struggling economy, businesses are holding their cash reserves tightly. Your ability to connect with brands for joint promotion, co-branded advertising or the equivalent can give you the exposure your company desperately needs. I scratch your back, you scratch mine.

For example, let's say you own the Crazy Tasty Granola Bar Company. Finding a strategic partner who is already tapped into your market could open up strong currents of commerce for your business. What if you got together with an exercise garment company or gym franchise and explored ways to give samples of your Crazy Tasty Bar to their customer base. You could simultaneously promote health with a shared approach.

By partnering with the gym franchise you get the exposure you need, in return they may use your product as a free giveaway for sign-up, have them as part of a sales event or a free quick snack for their customers in between sessions. The potential for a co-branded advertising campaign is there, but the messaging can be tricky to produce. Instead, could both companies host a 'Health Day' and provide educational sessions on diet and health?

When you find a partner, be sure to place high priority on comparing your target audience facts or stats and make sure there is an effective overlap for both parties. There are many iPhone users who, if they wanted a video camera would probably buy the Flip Mino camera and vice versa. Both products have similar target audiences. They share age groups and disposable income among other things. If you can confirm a strong base with shared demographics then you're well on your way to confirming a good partner business.

Could you find a partnership with another business who has customers that use your product or service? Does your target audience use computers? travel? need healthcare? or stay in hotels? The questions are worth seeking answers to.

what a timely subject, Tim
I have been growing an idea in my mind, which is not original by any means, about these joint ventures. I presently have a jeweler with a semblence of a list and a high value manufacturer of golf clubs.
neither know each other
both have a similar market

I know I can introduce them to each other and they benefit from the intro, but how can I maximize my return on my time and efforts.

I metioned to Dien the other day that I remember a gentleman from Mississippi who was discussing how to put these together adn generate a continuing income from these intros but couldnt find the info when I did a search . have to admit tho , that I have no where near the intuitive insights of some people on this forum, like Phil, who know how to digg this type of info out of the morass.

I will visit your blog and discover what you have. Thanks

[JohnnyB]

Hi:

The gentleman from Mississippi is Mike Enlow. I think he is retired now.
But you can find him @ http://www.enlow.com/

goodness ! this place is better than the internet ..just put a question out and ...BAM!...there is the answer .
thanks

I did do a little checking from my mail with Mike several years ago ...seems he has died , wonder who is doing the web site ? Over at the warriorforum, David Preston is selling Enlow's program so maybe Preston took it over ?

Johnny , have you done any joint ventures ? If you have and are willing to teach me, then I would gladly split my share with you for the first one.
thanks

[JohnnyB]

Hi Bob:

I tried to send you a PM, but Sow Pub forum members are required to have 10 posts registered first, before they can use the PM option. I am almost there, this post will make number 7.

Just wanted to let you know that I would be glad to help you with your JV.

You can reach me at PeelandStick at G Mail dot Com.

JohnnyB

Bob,

Thanks for the kind words... Digging out those little bits and pieces of Golden info is Easier than you think...

Focus on just One idea at a time... One group of basic related Key words spun around...

Too many ideas Simultaneously becomes a hash of information overload...

Doesn't really matter who invented Joint Ventures... Guru #1 or Guru 2009...

The overall concept is fairly straight forward... Although stellar communication skills definitely helps...

As with most things in Life... Not everyone is an Expert or Good at everything these days...

Specialize and Focus...

Your basic Joint Venture 101 education...

http://www.hardtofindseminars.com/Fr...t_Contract.htm

Interesting monetization model too...

http://www.christianfea.com/
http://www.christianfea.com/category...ture-brokering

http://video.google.com/videosearch?...um=4&ct=title#

Regarding David Preston... Great Free Webcast Replay...
http://www.warriorforum.com/warrior-...crets-now.html

22 Joint Venture Ideas for Photographers
http://blogs.photopreneur.com/22-joi...-photographers

David Frey's Free membership site loaded with Quality info...

Joint Venture Marketing
http://www.marketingbestpractices.co...partment47.cfm

http://www.mostconnectedmarketer.com/

Joint Venturing101
What is a joint venture and how do they work?
http://entrepreneurs.about.com/od/be...ntventures.htm

Phil

Cheers Bob. You have a challenge in front of you as the two industries aren't immediately related, but not an impossible one.

Don't get too caught up in applications, the best thing you can do is canvas both audiences. They'll give you the answers. You'll find it in the overlap.