In this article, we will focus solely on four key functions that enhance any JV Partnership. As you read, keep track of how you can creatively use these tools to customize your strategy that meets your partnership needs.
This allows you to increase the amount of current and potential customers who openly welcome hearing about what promotions are coming up within your business by being featured in a partner email.
These emails are a great time to cross promote for your JV Partner and vice versa. Here are some ideas to incorporate.
- It’s as simple as sharing a link to your partners website.
- Reward your customer’s loyalty by endorsing special deals provided by both your business and your partners business.
- Ex: This weekend only, 40% of your products/services AND 40% off your partner’s products/services. This gives added incentives to your customers.
Whether an online or printed newsletter, there is a lot potential available to you and your partner through this creative channel.
Newsletters often combine pictures, color and life into upcoming ventures and events.
- Co-hosting events and/or seminars. There is more power and potential and less expense, when putting two heads together. These could be offered in your local community at libraries, trade shows, fairs, etc and recorded for future use online.
- Make room on the newsletter for an ad spot promoting your partner’s business.
Guest Blog Posts
If your business is currently hosting audio, video, or article blogs or if you are thinking about starting a blog, there is great potential within this marketing tool.
Blogs are a fantastic way to showcase the interconnectivity with your partner. These guest spots can be informative about what your JV’s business provides and how their business serves your lists’ need.
- Write product/service reviews for one another. It is very easy to boast your own business but it takes an elite business to show your customers why you back your JV’s products/services.
- Write product/service testimonials. (Be mindful. Do not engage in this practice if either party has not used products/services offered by the other party.)
Social Media Posts
Word of mouth has always been a key element for any business, and social media spreads by the click of a key. These posts are great ways to promote your partnership. Who wouldn’t want to spread that news?
Some ideas for social media post are:
- Donate prizes to your JV Partner and vice versa for contest and giveaways.
- This broadens the field of the amount of people who want to participate and share your post.
- Bundle service/product offers with your partner.
- Ex: When you pay to be serviced by my business you receive a coupon for a free product from your JV.