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clkelyqld2
Posted: Thu 11:02, 12 Sep 2013
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Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability. To discover more Joint Venture Marketing Strategies join his free report on .
Article Source:
Submitted : 2011-10-18 00:00:00Word Count : 645Popularity: Not RatedTags: joint ventures, joint venture marketing, joint venture partners, small business joint ventures, small business joint venture marketing, small business marketing strategies, small business opportunities
When the economy is in a downturn there are several really good reasons for joint ventures as a way for a struggling company to get the little extra business required to stay afloat and live to do business another day. Joint ventures provide many opportunities for companies to grow into new markets, extract additional
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possible to service existing customers and make it as comfortable as possible for new customers to try a product or service for the first time.
Develop New Customer Acquisition Strategies
One of the best reasons for a joint venture during a time of economic uncertainty is the potential to acquire new customers. Acquiring a customer is expensive and time consuming and the
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beauty of joint venture marketing partnerships is the potential to market to a partners existing customer base a product or service. Gaining access to customer lists or the capability to have a logo and
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selling fits well with a partners existing offering you might receive new sales and never have to touch the customer because the partner is handling all of the customer facing activities and delivering your product or service to them directly.
Earn Additional Revenue
Earning additional revenue from an existing client base is an excellent reason for joint venture marketing relationships to be established with companies seeking to market to the demographic of existing customers. During tough economic times companies might be willing to negotiate better referral fees and percentages of revenue for each closed sales lead increasing the value of the partnership. Most small businesses are not servicing their customer's entire needs and so it's easy to identify at least 3 or 4 great potential partnerships that could support customers' needs and put money in the company's pockets simply for making products
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and services available to the company's customers.
Create a Strong Web of Support
It is vital to create strong network of partners during a tough economy. It's important to remain active pursuing the best and most attractive joint venture opportunities. Companies do fail during bad economies and so it is imperative that if a business has an important joint venture partner that is supporting its clients and putting money
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in its bank account that there is a backup plan in case a partner goes out of business. While it may not be the number one reason to continue to pursuing joint ventures during tough times, if a company that your business has a
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relationship with fails, it's important to be able to quickly replace them with a new partner and promptly provide customers the confidence needed to not jump ship. Failing to not have a backup plan in place for servicing client requirements that are supported by joint venture partners is a big problem, but can be resolved by creating a strong network of associates and even partners that are in place, but not yet fully active.
There are many good reasons for joint venture marketing in a tough economy as well as during good times. Focus on developing strong JV partners to limit potential risks that may occur during a down economy and make sure to continue to track down new opportunities. Every joint venture partner is a new potential channel to acquire fresh customers and at the same time is an opportunity to gain additional revenue from an existing customer base.
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Author PhotoGood Article!
Reasons For Joint Ventures During Uncertain Economic Times
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