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You will create a REAL strategy for success by setting up joint ventures and affiliates. Here’s the difference between the two. Joint ventures (JVs) are partners where the exchange is equal (or close to it). With JVs you’ll extend their offers to your list, and they’ll extend your offer to theirs. You may pay them a revenue share on sales generated from their list, or you may not. If you do you’ll track these sales via an affiliate link, which you’ll set up via your shopping cart or with affiliate management software. JVs are a fast-track strategy for success and create results NOW just because the other party’s list is often already pre-qualified for what you’re selling – believe me, they don’t want to JV with someone who wouldn’t be a good fit for their list. And remember, whatever creates those results now are the paths we want to focus on. The end game for all of us is CEO freedom, and that comes only from one thing – results.
Okay, affiliates. Affiliates are more of an extended sales force. Some solo entrepreneurs make a decent living simply building lists and promoting third party products to them. The goal with either approach of JVs or affiliates is to get your product in front of an audience you haven’t had contact with before. Standard revenue shares for affiliates range, but I often see 30-50% for products, 20% for training, and 10% for consulting services.
Remember, marketing is an ongoing adventure, so be sure you keep this in mind as you build JVs and affiliates. A large part of marketing success is in testing to find out what is and isn’t effective, so be sure to track and measure these efforts carefully to see which bring results now.
Christine Comaford, CEO Freedom Fighter
CEO of Mighty Ventures, Inc.
NY Times Best Selling Author
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