This article may be controversial to some, threatening to others, and refreshing to most.
Are JV Partnerships Hurting Your Business? What do you think?
It has been said many times, “the money is in the list.” While there is a lot of truth in that statement, I would add a qualifier: “the money is in a well treated list.”
About 1 month ago I received a email from a well known and respected internet marketers that was clearly a promotional email. I don’t have a problem with a promotion email, as I do that myself. However, I did have a problem with what he was promoting, and “why” he was promoting.
While I don’t want to get into “motivations” of another marketer, I did raise an important issue when I stated to him, “PROTECT YOUR LIST.” The question back to me was, “what do you mean, ‘protect your list?'”
Let me ask you a series of questions: Who are more important to you, JV partnerships or your list subscribers? Are you more concerned about making money from your list, or do you truly want to feed your list with the appropriate knowledge to help them succeed? The answers to these questions are paramount to your philosophy and values of internet marketing.
This is what I see happening, and while I have no easy answers, I certainly do raise the problem :).
Five to ten internet marketers will form a “inner circle” and commit to each other in the promoting of each others stuff to their list. The danger here is that the loyalty is to the jv partner, and not the best interests of the subscribers and customer. In fact, even if your jv partner has lowsy products, you are still committed to doing a mailing and offering these lowsy products to your subscribers/customers. In return, the jv partner emails to thier list when you have a product. Sounds like a good deal, eh?
Here is another danger. If you decide not to promote a jv partners products to your list, the jv partner will not promote for you to their list as well. And if the jv partner has a big list, this potentially means a large loss of income for you. Ouch!
Also, if you do jv partnerships, you likely will gain a lot of subscribers when they send you traffic to your salespage, and you have a optin form. Thus, having good jv partnerships with large lists will build your list fast. Without jv partnerships, it takes a lot longer to build your list.
But this leads me to my main thesis to this article. I would rather have zero jv partners and be a solo marketer, completely independant, treating my list like gold, than to be tied up in a “unhealthy alliance” with jv’s.
Yes, it takes longer to build your list by not being dependant on jv’s, but your list will reward you. Instead of your subscribers being hit with promotion after promotion (like most list owners do), you are feeding them pure knowledge, and then when you send out a email that says “buy this because I recommend it,” there is a flurry of activity towards the order button. Why? Because they respect your advice. You treat them right. They trust your advice. Your subscribers feel as if you are taking care of them…and you are.
If you take care of your list, your list will take care of you!
Every time you do a mailing for a jv partner you are putting your list at risk. Hence, you should be examining the jv partner, examining his/her products, and only promote to your list products that will benefit your list..even at the cost of severing your jv alliance. That is my philosophy.
I have a much smaller list than many internet marketers, but my list is highly responsive. Have I recommended a product in the past that turned out not to be that great? Yes, admittedly I have. Especially in my early days online. Haven’t we all. But, I strive to do better.
The best method to build your list is to naturally build it yourself through article, video, and social media marketing. Then, build trust and loyalty. These will be your best subscribers/customers. Using jv partners is a fast method, but your list will not be as responsive. Remember, if they are on your list using jv parterships, they are on 30 other lists as well.
To summarize, here are some list building tips:
- Always put your customers/subscribers first, not the jv partner
- Be very leary of adswaps with jv partners. Every time you do a adswap, you weaken your list
- Be leary to do a mailing to your list to promote a product during its pre-launch because you are weakening your list. During prelaunch most product owners are wanting to build their list, and you see a optin form. Wait until launch day to promote, when the optin form is gone, and all you see is a salespage for your customers/subscribers to order.
- Do build your list naturally by article, video, and social media marketing, using squeeze pages to capture the leads.
- Do form jv partnerships that are like-minded with your business values and goals
The money is in a well treated list!
Yours in knowledge,