Anyone who’s been online for even a short period of time has likely heard how beneficial joint venture (JV) and affiliate partnerships can be. It’s true!
With aligned partnerships you can increase your revenues, subscriber list, credibility and market reach.
Yet, most men and women who seek out partners get turned down more than they hear the coveted words, “Yes! I would love to promote for you.”
There are very good reasons why this is so. It’s not because we don’t want to partner, it’s because what we are being asked is not a great fit at that particular time.
Over the past two weeks I’ve had no less than 10 requests to promote products and services. Some individuals offered an affiliate commission while others made the request simply because “you have a good list.”
I turned down all but one request. Here’s why; every single one wanted me to promote either that day, or within a few days of their request.
The one I accepted was from a trusted friend and colleague. I am familiar with the product he asked me to promote and what he offered is a great fit for my market. Additionally, the price point was low enough that I didn’t need to do much prep at all with promotions other than let my community know about the offer. Another reason is his commission structure is very generous.
With the others, even though I know them from my social networks and they are likely on my subscriber list, I turned them down for one (or more) of the following reasons.
- What they wanted me to promote was not a good fit for my what my market expects from me.
- The time frame was way too short.
- Commissions were poor or nonexistent. Not that I have to get compensated for everything I promote, but if commissions are not in line with what is standard I likely won’t find it appealing enough.
- I am not familiar with the product they want me to promote.
- I don’t want to overload my list more than they are already overloaded with the day in and day out emails they are blasted with.
- The price point was incredibly high and too much of a risk for a first time partnership.
- I plan campaigns out as much as six months in advance with the average being at least 2 – 3 months.
- Not one person I have not worked with yet offered me their product to preview. If they approach me then they must be willing to let me review the full product. It’s different if I approach someone to promote their product. In that case, I should be willing to purchase it.
I’m sure some of the individuals I turned down were frustrated with my response, but my primary concern is for the well-being of my subscribers above and beyond anything else.
Wondering how other experts feel about these type of requests, I asked some of my closest friends to weigh in on these type of requests.
David Perdew NAMS Founder Click Here to access David’s information.
Your post about last-minute promotions comes at an interesting time for me. Yesterday, I finished my most successful online promotion, and the 5-day sale was conceived and executed within 24 hours. So why would I say that it’s a terrible idea to do last-minute promotions, and expect people to promote?
The main reason: I probably could have done 10 times as much business if I had planned 4 weeks in advance.
But these were the attributes that made my last-minute promotion successful:
- The value was through the roof. It was the kind of value and price that made people think, “Holy cow, how fast can I promote this and how often!”
- I didn’t think about approaching people to promote this for me if we didn’t have a substantial business relationship already.
- If my top affiliate partners brought in some of their best affiliate partners, they got a referral bonus.
- I made sure affiliates expended zero effort by providing all the link, login and promotion tools they needed to be successful.
- I took “No” for an answer. Because my affiliate referrals are tagged automatically in the database tagging system, many of the affiliates were already making sales on the promotion from the prospects they had driven into pipeline previously. If partners couldn’t promote, I promoted for them.
- Relationships matter. If I don’t have one, I need to make that happen first.
SIDENOTE – David’s was the one campaign I immediately said yes to. I know, like and trust David, we have worked on several campaigns together and what David was offering is a great fit for my market.
Denise Wakeman – Boost Your Visibility Click Here to access Denise’s information.
While it may be tempting to reach out to the influencers in your niche to promote your launch, without a prior relationship, the answer is most likely going to be “no.” Before you send that request ask yourself the following questions:
1. Has there been any previous communication between you and the potential high profile JV partner?
2. What have you done for the prospective JV partner lately?
3. Have you promoted the JV prospects products or services?
4. Do you read and comment on the prospect’s blog?
5. Do you actively contribute to the prospect’s social networks? Are you retweeting their tweets, sharing their blog posts and commenting on their Facebook page?
6. Have you purchased any of the prospects products or services?
If the answer is yes to any of the above, then how are you going to make this a win-win for your JV partner?
How much lead time are you giving your JV partner? Most high profile marketers require a long lead time as their own promotions and other JV promotions are scheduled months in advance. 3 days notice doesn’t cut it.
Most importantly, do your research. Is your product or service a good fit for their audience? Have your provided access to your product so they can see for themselves if it’s relevant for their audience.
Don’t be offended if they say no. There’s a lot of factors that go into a decision whether to promote or not. First and foremost there needs to be a relationship established and you can get attention by giving without asking for anything in return. That will get attention.
Ellen Britt The Future of Ink Click Here to access Ellen’s information.
“I totally agree with all of the really excellent questions that Denise Wakeman suggests you ask yourself before approaching an influencer in your niche. Certainly you should do as many of the things listed as you possibly can AND if it is at all feasible, make it a priority to actually meet the influencer in your niche in person by going to a conference they are going to attend.
Most influencers will let their subscribers and social media followers know about any upcoming events they are attending. Often, they will be promoting that event. If this is the case, then purchase your event ticket through their affiliate link. If they are presenting at the event, then make sure you attend their presentation.
Ask thoughtful questions during the Q&A time that add to the value of the material being presented. Afterwards,take a few minutes and introduce yourself to them, referencing any communication or promotion you have done for them in the past.
Ask them if they are open to a ten minute conversation during one of the breaks about possibly being a partner in your launch. They still may not say ‘yes’ to your launch invitation, but you will have made an indelible impression on them by going out of your way to meet them in person. Avoid asking them if they will have lunch or dinner with you. Most influencers event schedules are completely packed with meetings and pre-arranged get togethers with clients and colleagues.”
Susan Lassiter-Lyons – Click www.SusanLassiterLyons.com to access Susan’s information.
JV partners are one of the best ways I know of to spread your message. When approaching potential JV’s here’s a tip that’s always worked for me. Make sure you are offering value first and be prepared to build and nurture the relationship.
Most JV’s have marketing calendars that are planned way in advance, but they are always looking for ways to make their promotions better.
Be sure to share recent results other well known JV’s have gotten promoting your programs especially EPC (earnings per click).
Sharing best practice or other creative promotional strategies in your niche will go a long way in establishing credibility and that relationship. Then, when they do promote be sure to pay on time and do something special around the holidays. We always send our top 10 affiliates a bottle of Dom Perignon or Cristal for Christmas and we’ll usually get on the calendar with no problem!
In conclusion
Partnerships are definitely a great way to serve your market. Based on what my four colleagues have shared, is it time for you to revisit the way you approach potential partners? If so, now’s the perfect time.
Be watching for more information on how to build great joint venture and affiliate partnerships in future posts.
Be sure to share your thoughts on this post and your best insights into building strong partnerships that create win/win/win in the comment box. Win for your market. Win for your partner. Win for you.
Great post, Kathleen! Seems there’s a common denominator….relationships come first when it comes to JV partnerships. I love that Susan sends her top 10 affiliates a bottle of Dom Perignon! I’d promote for her if her products were a fit for my audience. 🙂
And, Ellen Britt’s suggestion to meet a events is right on. When I think about it, that’s probably how I’ve connected with many of my favorite affiliate partners. In fact, I think that’s how you and I discovered we would be great JV partners. I’ll be sharing this post because it’s important info for all new and seasoned online entrepreneurs.
I loved all the suggestions. You hit it spot on with yours. It is all about relationship and looking for the win/win.
Thanks for your great insights.
Great information here – I hope people pay attention to how much prep work is involved. And how important introductions from trusted colleagues is already.
Most people would be shocked at how much time it takes to make a campaign work for everyone involved and the key elements of making it a win for the end user – your peeps.
Fantastic information Kathleen!
One thing that most of us underscore and that can’t be stated too often is that influencers have their marketing calendars filled early…sometimes months in advance. So not only do you need to do all the excellent things suggested in this post to make you an attractive joint venture partner, you have to give the person you want to jv with adequate time.
Having said that, I hopped on David Perdew’s ‘last minute’ promotion, because I already knew and trusted him and saw that his offer would be a great fit for my audience.
And yes, love Susan’s way of rewarding top affiliates!
Relationships are the thing…and even though you can do things to accelerate these…they do not happen overnight. You have to put in the effort…but the rewards are huge!
That is a great point that, most often, marketing calendars are filled early, Ellen. I’m sure there are some last-minute things that are worth jumping on, as you mentioned, but as you say, there has to be a previous relationship there.
It is truly about a great relationship. What many people fail to realize is this is real business with real people who have real requirements to highly serve their market. It’s not just about the money. Although that is a factor for most of us. Serve first.
Lead time is so essential to successful launches with folks we have never done one with before. As David stated, the reason his was successful is all of us who participated have a relationship with him, we are already his affiliates, and he sure is generous.
Thanks for contributing your expertise Ellen. You added so much depth.
Kathleen, thanks to you and all your partners for sharing this post. It is very insightful and helpful to those of us who are new at trying to get joint ventures set up in knowing what is expected and how to get started in making great partnerships that are a win-win situation for everyone involved. Blessings, Deborah H. Bateman-Author
You are most welcome Deborah. When I first began looking for partners many years ago, I got turned down A LOT! I couldn’t figure out why until someone was kind enough to share a better way that would produce great results.
One of my first mentors who taught me so much about affiliate marketing is Willie Crawford. Light bulb after light bulb went off as I studied his strategies.
Kathleen,
Great post already (the first part) and then even better with the input from the others! Those points are right on based on my experience as both the askee and the asker. List overload, relationship, product quality, commissions, ability to see the product and a few other areas make or break a potential JV discussion. Thanks for sharing!
List overload is a huge issue. I have become aware of just how prevalent this is when I take weekends off and on Monday have hundreds of blah blah blah messages.
We all need to be more conscientious of relevance.
Tom –
Your article on how to pin to Pinterest when the image was too small – and using Kathleen’s post here – is an excellent way of getting more mileage out of a relationship. And it’s also a great way to give your readers excellent information. Impressive. http://www.rightmixmarketing.com/pinterest-marketing/how-to-pin-to-pinterest-if-there-is-no-picture-tool/
dp
Would someone tell me how Tom actually did that? I think I posted my question in the wrong place at the Trackbacks so no one is seeing it
Thanks,
Dr. Clyde
Love everyone’s insights and recommendations, Kathleen. You have an opportunity to build ‘real relationships’, as you’ve done with David, and it doesn’t have to take forever (though an authentic connection does grow over time).
Often you can create a very strong connection – and instant rapport – when you are partnering on a BIGGER vision that serves both you, your partners and the communities involved.
And … you still want to ‘earn the right’ to connect with your potential JV partner by getting to know them, their tribe and offers and how your ‘idea’ is a ‘not to be missed’ opportunity.
I love your input about a “bigger vision.” So true, so true. When we look at what we do from the perspective of serving our tribe we tend to get further faster. Thanks so much for your input Adela.
Great reminder, Adela, to speak to the larger vision, or ,what I call the Big Why. This is fuel that propels us forward.
So true about the larger vision.
Thanks for your input Tom. I was thrilled to have the four experts share their insights.
Great post, Kathleen! I’ve always loved that you give it to us straight up and this post is no different. Thanks so much for the inside scoop from the “approachee’s” perspective. This info comes at just the right time as I’m part of a team planning a virtual summit and I’ll definitely be sending this link so the rest of team can read your advice.
Blessings,
Liz
Kathleen — you hit on a few of my pet peeves: people I’ve never even heard of who ask me to promote them/their product; those wanting me to promote within just a few days; and those who want me to promote who don’t even have the affiliate link(s) set up yet! All of these indicate they haven’t really taken the time and care to thoughtfully create their campaign and recruit partners. Those who I know, like and trust and have all their ducks in a row will get an enthusiastic response from me. The others are just wasting my time (sorry to be harsh, but we are in business here folks!)
The blogpost and comments have invaluable information for anyone wanting to do joint ventures. As a person who has run a publishing company and a writing coach business for years, I am shocked to hear that anyone would a potential JV partner–whether he or she knows that person or not–to promote a product within a few days. Any marketing campaign takes time, and I thoroughly agree with Kathleen’s statement that she wants to review the material before committing to anything. There is a lot of food for thought here.
Great tips! I have also experienced those “last minute” invites to promote, and no offer to review the product. Much appreciated.
Thanks for the tips. They’re all kind of common sense. I was actually approached a couple of months ago by someone who requested payment for the opportunity to JV with her – it was for her product. The fee was for the visibility it would create. Is this the new trend?
Without further details it’s difficult to evaluate a situation like this, but my gut response is, “Avoid it!”
LOL I did! Thanks.
Kathleen — thanks for another great article!
We are studying the topic of JV/ Affil promos in a program I’m a member of and I just posted the link to your article in the group!
I have to say I’m surprised that peeps don’t do their “homework” before even ATTEMPTING JVs. Many of the points raised by you and your esteemed colleagues are rudimentary facts any aspiring marketer should learn in the very beginning. And some of it is just plain old common sense! You don’t ask a stranger for favors do you? Or even to participate in a biz venture? You develop a relationship and then, if it’s a good fit, you offer the opportunity, explaining the benefits!
OK . . . off my soapbox and grateful as ever for your leadership!
Rainbow Blessings!
STEPHANIE RAINBOW BELL
http://Facebook.com/StephanieRainbowBell
Love the soapbox Stephanie!
😉
Hi Kathleen, You hitt it out of the park with this example-laden post. I love the specifics you, Denise and others shared. I just got several invites to do a joint venture for marketing online for coaches, and one for my niche, ebooks to brrand a coaching business. I really knew he first person through his blog psots for coaches to build their business. The 2nd one, I’ll ivstigate alot moe before I leap.
I love coaching and sharing the good news on branding with an eBook. And these joint ventures can be fruitull when all parties are conscikious, organized, and willing to market enough-without too much blasting oru lists.
Thanks to you and all the comments!
Judy Cullins, bookcoaching.com
Thanks for your input Judy. A huge challenge is when we get so many so close together.
Hi again, I wanted to give a tip that works for me in cross promotion joint venture.
Exhange 3 tweets that recommend the other person.
1. Recommend their book.
2. Recommend their programs.
3. Recommend their blog and subscription link.
This tests whether your possible partners will do their part in a bigger joint venture.
Kathleen,
Since I am not yet an “Influencer” I certainly appreciate your post and honesty about why you may say no and what may help get a yes.
I have posted comments on a few of your posts but that is about it so I have just learned a big lesson.
Maybe by taking action on the information in your post I can make myself more “visible” to “the people with the great lists.
Thank you again for the great information.
Many Blessings,
Dr. Clyde
And thank you for your comments Clyde. I appreciate it.
Clyde – one of the things that Kathleen points out often when she speaks at NAMS – and I know this to be true of others – is that she is very approachable. As am I, Denise an Ellen for sure. But there are two pieces to JVs that need to be addressed:
1) what’s the involvement?
2) what’s the promotion expectation?
On 1 – I just did a 30 minute interview with one of our students and members at Mynams.com yesterday for a product he’s building – his first – on mindset. Why would I participate with someone who is very new creating his product? Topic was good. I can use the recording after his product launches. I liked him. But here’s the real reason: he has been to two of my workshops and volunteers as a moderator in the forum. It would be almost impossible for me to turn him down.
On 2 – i’ll participate a lot more in product creation when the promo requirements are low or non-existent. Doesn’t mean I won’t promote, just reserve the right based on the quality of the product.
And it aleats amazes me when someone new sends a JV request complete with a “required” promotion schedule. I can’t hit the delete button fast enough!
My two cents for newbies.
So true David on the “required” promotions schedule. Often a newbie will shoot themselves in the foot with this. What do I mean? When I have agreed to participate I want the flexibility to promote in the most beneficial way possible.
Thanks for yur 2 cents worth David.
This is why I have trimmed down, to a handful, the people I follow. Besides getting rid of information overload I always get good solid advvice when I read their email messages, blog posts and replies to my comments.
As you may have already guessed Kathleen is on that short list.
I copied part of the posts from here yesterday to make myself a list of do’s and don’ts. I will, without a doubt be putting your reply into that document.
Thanks again and many blessings,
Dr. Clyde
Clyde –
Here’s a tactical piece of advice: Take that list of essential things you copied, create a blog post on YOUR blog, drive people back to THIS POST (technically called curating), and mention to Kathleen, Denise, Ellen and me that you’ve done so.
Do that 10 times on 10 different posts.
Notice good people, then get noticed, and then get partnered 🙂 It’s what you do for others that is always the most important…
David,
Since this is a topic I teach that’s exactly what I was going to do, LOL! Great recommendation.
Adela
David,
I want to thank you for mentioning this. It is something I have just started to do with another person I follow. It never dawned on me it was good marketing tactic, just that she has good information and I wanted the people on my list to have it as well.
Kinda makes you feel good when someone tells you to do something you were already doing. I may run a little slow but I am taking giant leaps with this blog post.
Thanks again to each of you for sharing your thopughts.
Dr. Clyde
Adela – I’m working on it right now myself! Practice what we preach, right 🙂
I love this! Thanks for the great tip!
I’ve done the same thing myself. I am new to JV partnerships, so I want to make sure I get all the information down pat.
Kathleen, grateful for this post and for including advice from David, Denise, Ellen, and Susan. I’m in the process of launching a new affiliate package that will grow into JV opportunities. This post has such valuable tips for succesfully approaching JV opportunities when the package is ready for that. But first, I’ll be quietly approaching those with whom I’ve already built relationships with and who have super short lead times, meaning that they need it for themselves and their clients right now. Will be a great way to work out the kinks and gain feedback before going public. And those two together will allow me to build proof of concept stats to show potentional JVs.
Plus, I’ll be building up the type of marketing and presentation material that will make it as easy as possible for both affiliates and JVs to promote. I was surprised that doing a lot of that type of leg work to make it as effortless as possible on the sought after JV was not highlighted more in these tips.
Thank you for your input MaAnna. Actually, volumes could be written on affiliate and jv partnerships. And in upcoming posts we will cover more.
I’d always ASK people before I’d send anything for someone to review – whether or not I intended to ask for promotional help in the future.This gives the opportunity to select a good time for me to re-connect with them if they are too busy at the moment, rather than simply refusing due to a lack of time and it would prevent my product getting lost on the to-do pile. For written materials, courses, etc., I would also ask if they would prefer a hard-copy or digital.
When I have gotten their permission, I have always included a personal thank-you note with my business card in any package I sent, and let them know that I appreciate them taking time for me, when I would follow-up and how. If I’ve talked to an assistant or secretary, I also sent them a thank you – after all – they didn’t file my message in the round bin, did they?!
Finally, if a physical edition of written works was requested, I signed it, again thanking them for sharing their time with me.
I’m not a famous marketer by any means, but am I delusional in thinking that perhaps people have lives and might not have time to review “yet another” product – right here right now – even if its the next best thing to sliced bread? Or am I really just creating more junk for their email box or wasting time for their assistants?
So True Sue. Never assume that someone wants to review material until they have said yes. It’s the same with a manuscript. When an author sends unsolicited manuscripts they often find their way into the trash.
There are protocols of courtesy we must all take into consideration.
Thanks for your comments.
Kathleen
Hi Kathleen
Love this post on how to approach Joint Ventures. For me the bottom line is all about establishing a relationship, and valuing and respecting your potential partner.
In effect, you are asking for an endorsement – which is a big ask from people who are serious about the reputation of their business and are concerned to look after their clients.
It does shock me that some people assume that because promotion is done online that the same courtesies do not apply as doing business offline. Maybe because it is so very easy to send out email requests with little thought or research behind them!
Sonia
You are so right Sonia. It is in essence asking for an endorsement. Thus the need to make our affiliates feel very secure in the fact that what we offer is beyond compare. I had someone today who was trying to sell me a service. I responded that at this time I didn’t have a need and he asked if I would be willing to tell others about his services. NO! Why would I when I haven’t a clue what level of quality he offers. Oy vey!
Thanks Kathleen,
A really great article.
You pinned down some really interesting and important points when it comes to get the potential JVs to actually consider to support you.
Thanks a lot 🙂
Stefan
As always my friend, you’ve stated it just like it is. My business is built on partnerships and I’m often amazed at how little people understand how they work. Some people don’t want to do them because they don’t understand the huge value a JV will bring to their business. Others don’t do their homework.
If you research our potential partner and understand what products they offer and what market they serve you can create a win-win collaboration that makes sense. And I agree with understanding lead time. Like many of you I plan my calendar out some months in advance and mix partner promotions in with promoting my own stuff. This gives my community a wider variety of choices and benefits everyone. However I’m not willing promote something that is too similar to one of my offerings or which doesn’t add value to my list.
Finally you need to trust that if your partner says she’ll promote for you, she will and vice versa. We are scrupulous about following through on what we promise because I would rather have a long term partnership than a one-time promotion. Thanks Kathleen!
Thanks for your insights, points and expertise. I appreciate you taking time to share what you look for.
Thank you so much Kathleen!
Because these excellent insights definitely give us a leg up on how to effectively
approach major influencers in any niche!
And if nothing else, we now have a much better idea of the type major concerns they have and some of the most important issues to have at least some good answers to!
Thanks!
Would someone please tell me how Tom did this?
Thanks
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