Tips for Working With Joint Venture Partners for Referrals

Something I thought I would share with you today though is about working with power partners or joint venture partners. 

Basically they are collaborative in nature, they typically will have complimentary products and services to yours, and/or the same ideal client and you work with them to create referrals and connections for each other in one way or another. People interchange these terms if you’ve heard them.

I’m always looking for collaborative partners to do things with, especially ones who work with the type of entrepreneurs I do. Usually my power partners are more advanced in business since we’d be on more of a similar level and have a similar list size but it doesn’t always have to be.

If you’ve been thinking about doing some joint ventures yourself, don’t be afraid to ASK people whom you perceive to be “bigger or more advanced” than you. If you don’t ask, you don’t receive, right?

This is one of the main strategies that I teach my clients too though as the more you’re in front of OTHER PEOPLE’S AUDIENCES, the more you can get access to MANY people at one time. Similar to speaking, when you speak at events you are marketing to many. When you’re doing a promo with a partner, you’re getting in front of many… instead of finding prospects one by one.

Some of the things I do and you can do also with your collaborative partners or JVs include:

• Facebook lives, other live broadcast out to each other’s social media following. Pick a topic that you both can speak to and both of you give tips and have call to action… I call that a Joint Interview where not one person is interviewed or highlighted, but you both share the spotlight. This is by far the most efficient way to work with complimentary types of folks.

• The one way interview where you interview them on a video, live, or webinar and then maybe they interview you back another time.

• In person collaborative event. Back in February I collaborated with my local State Farm Insurance agent and we did a joint event at her office since she has one and I work from home. We split the cost of food, wine, and we both marketed it and invited our local friends and clients and we had a great time. I even got a client from that event!

• Promotion swaps – this is where you each share something for each other via email and social media. Either a launch that one of you is doing, a book, a freebie, a webinar, etc. Usually you want to promo something of theirs for free so they can get the most leads and vice versa.

• Speaking swaps – this is where you each speak to each other’s audiences either in a live or virtual event you’re holding or they’re holding and/or be a guest on each other’s podcasts, or some mix of the two. This is what I’m doing with Blaney Teal this month for example. She’s speaking on my Focus on What Matters Summit in May and I’m speaking on her Small Business Virtual Extravaganza at the end of next week. Learn more about that here and join us for free!

• It’s whatever you both feel is a fair trade.

• Sometimes promotion goes one way though, meaning your target market would be receptive to what they’re offering but maybe theirs is NOT your ideal target market. In this case, you might look at being an affiliate of theirs so you can earn commission on whatever you’re promoting for them either initially, or in the back end (if the initial promo is for something free). There’s nothing wrong with promoting someone’s stuff as an affiliate one way without reciprocation, it can definitely pay off. Just make sure you’re in alignment with their values and offer.

Hopefully this gives you some NEW MARKETING STRATEGIES TO TRY OUT! Happy collaborating!

Click the link below if you’re interested and let’s partner up to have you finally build the business in life of your dreams!

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I know how to show you how to tweak what you’re doing to get really BIG RESULTS in the next year! Book a 1on1 clarity session with me here now! Here’s to creating and enjoying a life full of lots of Love & Money!

Katrina Sawa, The Jumpstart Your Biz Coach