Yes, it can be done. But… only if you have something of value to offer people. Does that sound like code or jargon? Are you waiting to hear me say “the Condor flies at midnight”? Okay, let me explain what I mean.
At the beginning of this year I released a software product in a new (for me) genre, and before releasing it I wasn’t sure how exactly I was going to market and promote it. I didn’t know the market very well because the specific software I had created didn’t require any in-depth knowledge of it, just the technical mechanics to make things work a certain way.
Basically that left me with two options, try to learn all I could about the market in a hurry, or just rely on basic SEO and internet marketing tactics that apply across all areas of interest. I had been so preoccupied with developing what I thought was a pretty cool piece of software that it wasn’t until I was nearly finished with it that the nasty question I should have considered before starting the project popped into my head, “are there already a lot of marketers in this field?”
So I checked Google for the primary topical keyword and found that 7 of the first page listings were sites obviously owned by skilled marketers. They had 7 of the top 10 positions for the primary keyword locked up already.
At first I thought this was trouble for me. How was I going to compete with that kind of established presence? But then I realized that I didn’t need to compete. Heck, if I played my cards right I wouldn’t need to market my software to the public at all.
You’ve probably heard the term before, I’m talking about Joint Ventures here. A JV is when 2 or more folks (typically marketers) get together and make a deal that is mutually beneficial to all. Often JV’s are used to grow opt-in lists and involve the offering of eBooks to each other’s audiences, and sometimes JV’s are designed specifically to make direct sales or build paying memberships. Making sales was obviously my intention here.
What I did was simple. I emailed the owners of the top 3 sites on Google’s first page which were promoting sales of genre specific products. I introduced myself and described the software which I had developed, then offered to give them a 50% share of any sales they could refer if they were interested in mentioning the product on their site and email list (if they had one). To sweeten the offer I also promised to brand the software to their web sites and to only make this deal with 3 people, so they would be a semi-exclusive distribution point for the software if they accepted.
I promised to limit it to 3 because that’s how many emails I wanted to send out in the first batch. From those I got 1 person to agree and 2 declined. I then emailed out 2 more emails to the next 2 sites from the Google listing and was ecstatic when both agreed.
How great was that? My software was now going to be selling on 3 of the sites holding top 10 positions on Google for the primary keyword in the field. And if the software made some sales early on I knew these folks would take additional steps on their own to promote it for me. Why wouldn’t they? Their positioning in Google told me these were savvy marketers, and I had given them a semi-exclusive distribution deal on a custom branded product that was making them money. Of course they’re going to promote it further.
This case was one of my first major JV dealings. I’ve made some small deals here and there in the past that worked out okay, but this was the first time one had really converted into substantial profits for me. I’ve been wanting to do something similar again since, and you’d think I should have found the time to do so since February, but life and work are always in each other’s way for me it seems. I do plan to get more involved with JV’s in 2008 and have a big idea for www.nichefrenzy.com that I’m slowly developing just for JV’s.
But what I’m working on probably isn’t of much interest to you. What is–or should be–of interest to you is how JV’s can help you to build your email list, site memberships or even to sell an original product that you may be having trouble marketing on your own. That happens to a lot of people, it’s certainly happened to me before, and this is when forming a JV with someone can be the best move you’ve ever made. Just be smart about the deals you make, understand that you may have to give away a little more than you get back if you’re new and dealing with someone established and who has a following, and most importantly don’t ever get rejected by rejections. Yes, more of my double-speak there, but the fact is not everyone is going to be open to your offers. Often the majority of people you approach won’t be, but don’t give up. Keep going after the next person in line until you have what you want in place.
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Tags: Google, joint venture, marketing
