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Site Build It Mastery Lesson 37 - How would you launch a product
as a Joint Venture?

I've been asked several times by students recently how they should structure a Joint Venture proposal where they team up with an expert in their field and build a website to promote his products and/or services.

So this week, I thought I'd share the initial proposal I sent to one of my recent JV partners which resulted in us working together on a large project in the financial services area.

It's a good match - 

He is a well known expert in his field with over 17 years experience and a wealth of knowledge to share. He will provide the bulk of the content, the products and the market expertise.

I will build and manage the website, the page optimization, find affiliates and manage the affiliate program and look after the day-to-day operation of the marketing system.

Now it's important not to be greedy when you set up your first deals like this.

Because he is the expert in this market, and it's his intellectual capital we are promoting, he will earn the lions share of the profits.

That's fine, on current projections, it will be a very good deal for both of us :-)

The thing is, once you have a few of these things under your belt, you can ask for (and easily get) a much higher percentage of the income on the deal because you will have a proven track record in creating Joint Ventures with other experts.

Start small, learn the ropes, then you can go for bigger, more lucrative projects later on.

With this in mind, here's a copy of the initial message I sent to him after we discussed our partnership on the phone and he asked me for a brief outline of what we would be doing. I've changed his name here to protect his privacy, but you'll get the idea...

Start of letter

Hi John,

The sort of plan I was thinking off is this...

Decide what our product funnel is going to look like and create a sales process to move people through the funnel -

  • Initial opt-in for a free Mini course/Ebook leading to their initial product/service purchase.

  • People have a great experience with the free stuff so they are happy to order the initial product or a three day trial account. Next we'll upgrade them to more expensive and more expansive repurchases of various products and/or services.

  • We're then offer additional products and services over and over again. We continue to add new products and services to the system as we grow our relationship with our customers.

  • We keep graduating them to higher and higher levels of products and then we introduce them to other people's complementary products and services that will enhance the performance of the ones we create.

  • Finally we take these products and services and develop new markets and applications for them over time by doing JV's with financial services providers, brokers, insurance advisers, etc.

  • ...Bank the checks :-)

Here's a brief rundown of how I thought we'd probably proceed -

Stage 1 - 

  • Build a 10 page SBI site with pages covering the main topics relating to our market, plus all the necessary legal disclaimers and contact pages.

  • I'll do the keyword research and give you the most profitable keywords so you can create the initial content to get the site up and running.

  • Get these pages submitted to the search engines so they can start listing and ranking the pages (SBI does this automatically but there are ways to speed it up :-).

  • One is that I'll link to some of the main pages from various pages on my other 3 SBI sites which will give us some initial incoming links, some link popularity and Google PageRank.

  • Create a 5 day mini course from your Ebook and set this up in an Aweber autoresponder system. Give visitors the Ebook in message 6 and craft a series of follow up messages to keep in touch with subscribers. 

  • What we will create is a sequential marketing system that will bring people into our marketing funnel when they are ready to buy. Because we can never be sure when that time is going to be, we will stay in touch with them until they are ready. Timeframe for this stage - 6 weeks approx.

Stage 2 -

  • Develop the sales process and test everything with Google Adwords ads and possibly some ezine ads until we have it converting into sales.

  • Create viral reports, videos and other marketing materials that we and our affiliates can use to promote the lead product and bring people into our sales funnel.

  • Once we have some sales conversion numbers (we don't want to use our affiliate's traffic to test), contact smaller people in the industry and offer them an affiliate partnership. Gradually build the affiliate network to include hundreds of partners in related but non-competitive fields.

  • Create affiliate training videos and other aids showing affiliates how to promote the products to increase traffic to our site (thus increasing their commissions).

  • Get someone to interview you and create a free or paid audio product which answers many of the questions people ask about trading. Tell them what to do but not how to do it. Offer this to affiliates as a marketing tool - people have to give us their name and email address to access it and the go into our funnel. 

  • Continue to find new affiliates as the results come in for the first ones...Timeframe - Ongoing

Stage 3 -

  • Video tape one of your live training events, package it into a 'Big Box' product including the DVD's, a Manual, Workbooks and maybe some audios and other tools and offer it to people who can't afford the high ticket training (yet :-).

  • Use the Product Launch Formula to generate a profitable launch with the help of our affiliate partners.

  • The upsell on this product could be some live coaching and possibly a private monthly membership site as well for an additional fee. As people learn from the video training, they should be making profits from their increased knowledge. I think they will be happy to invest some of these to learn more at the live training so we upsell them to that over time...

Anyhow John, that's my initial thoughts. Let me know what you think and any way it could be improved.

Warmly,

Rocky

End of message

This is a fairly typical product rollout formula. It doesn't include all the steps involved and there's lots of work to be done, but the benefits of teaming up with a 'guru' in your niche and providing the online marketing expertise (which SBI gives you) can be very profitable.

Action Steps -

Follow the formula above in your own niche market -

  • Find a 'guru' or somebody who is well known in your market, has a great reputation, but who doesn't have web marketing skills and isn't getting the most out of their knowledge (there's thousand of people like this online)

  • Offer to work with them to help them increase their reach and profits - get your agreement in writing

  • Build a website with them and share the workload between the two of you

  • Help to increase your Joint Venture partner's profits and you will share in the success

  • Do it again with another expert in a different field within your niche

  • Bank the checks...

Now there are many things to consider when you are setting up a Joint Venture that I couldn't possibly cover here. If you can see the potential of this for your niche, then Jimmy Brown and Ryan Deiss's Niche JV is a great resource that takes you deep inside the science of setting up profitable niche market Joint Ventures.

To find out the exact step by step process involved in doing this in your niche, check out Jimmy and Ryan's Niche JV training system.

I hope this brief look into Joint Ventures has whet your appetite for trying to do one yourself. You can earn substantial long term, residual income from a properly set up JV.

They can also be a pain in the butt, so you have to choose your partners carefully and document everything so there's no disputes (well less disputes) later on if it all goes pear shaped.

That's it for today,

Until next time, may your bank balance grow,

Warmly,

P.S. And remember, if you want to move on with the next lesson, or review any of the other lessons in this coaching course, you can by visiting this page.