| Before entering into a joint venture marketing | | | | and marketing expertise to turn your once potential |
| agreement, consider the following five steps as a | | | | partner into a teammate. Now it is time to get down to |
| strategic guide for coming up with a plan and | | | | business and begin thinking about the goals of this |
| agreement that will work for you. | | | | relationship and how you will reach those goals. |
| Step 1: Research potential partners. | | | | Hammer out all of these details now so that you can |
| Make sure that you do a little research on those you | | | | focus on the success of your campaign without |
| think you might want to reach out to as potential joint | | | | getting tangled in the details later on. Be sure to define |
| venture marketing partners. For example, if you sell | | | | your goals, set your strategy and most importantly, get |
| printers, you might want to consider partners in the ink | | | | on the same page. |
| industry or maybe even paper distributors. Whatever | | | | Step 4: Know your role |
| the case may be, narrow down what it is you are | | | | Discuss what you expect out of this relationship, both |
| looking for before you decide on who it is you want to | | | | personally and professionally. You will want to be |
| work with. Once you have your choices narrowed | | | | perfectly clear as to what is expected of each of you. |
| down, then do some research on who is the best | | | | Decide from the beginning what your roles will be. Will |
| intheir industry. If you've decided to go with a paper | | | | you share all responsibilities? How much is to be |
| distributor, find out who has the highest sales and the | | | | expected from each of you? Also, make a list of dos |
| best reviews. After all, you'll want to know the best if | | | | and don'ts, outlining what will and will not be acceptable |
| you want to be the best. | | | | as part of the agreement. Again, you will need to be |
| Step 2: Open the lines of communication. | | | | on the same page with your joint venture marketing |
| Now that you've decided who you would like to work | | | | partners and work as a team in order to be |
| with, you'll have to take the first step in building the | | | | successful. |
| relationship. Open the lines of communication by | | | | Step 5: Stick to the plan |
| sending an initial email and follow it up with a telephone | | | | Once you have discussed what your goals are, what |
| call to make it more personal. You'll want to introduce | | | | your strategy will be and how you plan to execute the |
| yourself, explain what you do and why you are | | | | best possible joint venture marketing plan, it is critical |
| contacting this person. Gaining that initial contact can be | | | | that you stick to the agreement. In other words, be |
| the most difficult part, but it is only half the battle. | | | | true to your word and expect the same of your |
| Convincing your potential partner just how lucrative a | | | | partner. |
| joint venture marketing opportunity can be will be your | | | | A well organized, well thought out joint venture |
| next challenge. | | | | marketing agreement will produce results every single |
| Step 3: Define your goals | | | | time. |
| If all goes well, you will have used your business savvy | | | | |