It’s no secret Terry Dean and I have been promoting Joint Venture Fast Track…
So today, I wanted to share an important joint venture insight…
NO BEGGING ALLOWED!
THE MOMENT YOU START BEGGING YOU’VE ALREADY LOST THE GAME
Good JV promoters know if you’ve got a great offer you’re actually doing them a favor by allowing them to promote. Sure, you need to be sure they know about it… but once they do it’s they who should be begging you!
The moment you start begging you’ve already lost the game. I’ll give you an example…
For the right partners with qualified lists, I can currently offer a payout of $150 on a $25 offer. (I know my back end numbers really, really well.)
But because the back end is a laborious high end service, I have to strictly limit the number of front end purchasers each month, otherwise quality really suffers. And even if I didn’t have this real-life limit, hard-won experience says setting a very specific ceiling on the number of purchasers doubles sales (at minimum).
Which means that the opportunity for affiliates to promote this offer is itself limited. And those who I ALLOW to do so will be, well… lucky. It’s like handing them a chunk of money.
But I’m NOT looking for new partners on this at present. In fact, I have to specifically ask that you NOT inquire, because the very few quality promoters I already have could flood me for the asking, and keep me full for at least a year.
In truth, I can’t even let those promoters mail at the level they would like to. Because not only don’t I have the capacity, but I can fill the spots with paid advertising for just slightly worse economics.
So if I were to call a promoter tomorrow and say “I can take another 100 sales”, I’m actually doing them a favor. I’m LETTING them promote, not begging them to do so.
I’m NOT saying this to impress you… but to impress upon you the paradoxical mindset you need to achieve to successfully attract joint ventures. You need to CREATE an offer that’s SO good potential partners will be banging down the door to promote.
And before you tell me “my offer doesn’t really convert well yet so I’m stuck”… let me tell YOU there’s more to a great joint venture offer than conversion…
There’s the percentage you pay out. One way to get started before you’ve got proof the offer works is to just pay 100%. Or even more.
Then there’s the upsell flow you set up. If you’re not happy with, or don’t think partners will be attracted by your payout, consider creating a funnel with JV UPSELL partners before you approach anyone to send you traffic…
What this means on a practical basis is to find people who DO have offers that are converting well and approach them about installing those offers as UPSELLS in YOUR FUNNEL. Of course these vendors will get their normal percentage, but you can take your cut and dedicate it to the TRAFFIC SENDING PARTNER you haven’t approached yet.
This is almost no risk for the UPSELL partners since you’re not asking to borrow their list… in essence you’re asking to promote them with the hard-won traffic you haven’t acquired yet…
And now every sale you make is suddenly worth more to your promotional partner. Because YOU thought through a better funnel for THEM. (And you get more customers, proof, and experience… so that next time you can take a healthier cut)
You could also add value for a promotional partner by offering a FREE service to them in addition to their cut of sales. Know how to write copy? Great – tell them you’ll do a FREE first draft for another one of their upcoming products. Know how to find and interview experts? Create a product for them…
Are you beginning to see how you can craft an irresistible offer for your promotional partners even if your own product doesn’t convert and/or payout that much?
What I’m saying is, do whatever it takes to create a truly powerful payout for the partners you’re planning to approach. Craft an irresistible offer for partners before you approach them…
But whatever you do, don’t beg! Take your irresistible offer to several partners and make it clear you’re only working with X number. Maybe it’s one per niche. Maybe it’s limited to six partners because of the free service you provide along with the offer. Or whatever believable and true reason you can think of to make your JV offer itself SCARCE.
NO BEGGING ALLOWED!
If people aren’t responding and you start feeling like you need to beg, it’s because you haven’t added enough value for your partner yet. And the biggest mistake rookie JV’ers make is underestimating how much value it really takes to attract and execute powerful joint ventures.
Begging is the result of the intuitive knowledge your offer isn’t ready for prime time. If you’re begging, it means you haven’t sweetened the pot enough to get promoters begging you…
And you’re asking the promoter to assume too much risk.
See, even though email is largely free to send, promotional partners DO take a risk when they promote you. They’re risking their bandwidth. They’re risking their reputation. And they’re losing the opportunity cost of the other things they might have promoted using the same “air time.”
They’re not going to do it unless they can smell a big enough pay off…
And of course, for the right partner we’re talking about more than money…
We’re talking about the true value you can add to their list…
How you can help their customers become better, more appreciative customers…
But they do need to smell it, or it ain’t gonna happen…
And once they do, you can cherry pick the best ones to your liking.
So no more begging allowed, OK? In the formal training we’ll show you several more ways to approach and gain the trust of a JV partner without Begging at all!