22 Surprising Reasons Your Colleagues, Peers, and Even Competitors Will Promote You!

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By Milana Leshinsky

It’s amazing how many reasons there are for a list owner to promote you. And the great thing about this for you is that they just need one reason. Read through the list below and see if you can identify some great reasons you can give business owners to promote you!

1. BECAUSE THEY WANT TO FEEL GOOD ABOUT RECOMMENDING A GREAT RESOURCE! List owners take pride in and have a responsibility to their email subscribers. They want to share tremendous value with their list. If your free report or product makes the list owner look good, they would be happy to share it.

2. BECAUSE THEY WANT TO GENERATE PASSIVE INCOME. Business owners love passive income. It’s why they create products, have websites, and run automated webinars and teleseminars. If you can position the idea of them promoting you as, “I’ll do all the work and you get half the money,” they’ll see it as a great passive income opportunity.

3. BECAUSE THEY WANT TO ADD GREAT VALUE TO THEIR NEWSLETTER OR BLOG. Business owners who publish a newsletter or a blog are in constant need of quality content. It saves them time and they’re happy to publish a great article they didn’t have to write, while getting you exposure.

4. BECAUSE THEY WANT TO FEATURE AN EXPERT ON A TOPIC THEY DON’T TEACH THEMSELVES. Business owners usually focus on one, or just a few, areas of expertise. If your product or program complements what they do, it can be a great reason for them to share you with their list.

5. BECAUSE THEY WANT TO BE SEEN AS RESOURCEFUL AND WELL-CONNECTED IN THEIR INDUSTRY. When list owners share resources of their peers, they look abundant and generous. Entrepreneurs also love being seen as the “hub” in their industry and having access to useful information, resources, and experts who can solve problems.

6. BECAUSE THEY LIKE YOU AND WANT TO SUPPORT YOU. This can be a slam dunk to a “yes” if you have great rapport with a list owner. People who like you want to help you. That’s why it’s important to connect with potential partners on a personal level before asking for support.

7. BECAUSE THEY REALLY LIKE YOUR PRODUCT OR PROJECT. The reason that JVs work so well is the transfer of trust and rapport. If a business owner can give a first-hand testimonial about how awesome your stuff is, then it’s an easy referral for them to make and it will probably convert really well. An enthusiastic endorsement about your product can translate into a great promotional opportunity.

8. BECAUSE THEY FEEL LIKE THEIR CLIENTS REALLY NEED YOUR HELP. Business owners want, and need, their clients to succeed. If you provide a super-easy way for them to put a solution into their clients’ hands, then recommending you should be a no-brainer. We have even seen business owners buy copies of programs to give their clients. Make sure your product or program is super helpful to the clients of those who could recommend you.

9. BECAUSE YOUR WEB SITE LOOKS GREAT AND PROFESSIONAL! If your web site looks outdated, sloppy, or unprofessional, it’s tough for a business owner to send their audience to your site. But on the other hand, if your site looks amazing, then the business owner can be proud to send people there. Make sure your web site looks top notch!

10. BECAUSE YOU HAVE A GREAT ENERGY AND ARE EASY TO WORK WITH. Great energy and enthusiasm are contagious. So get excited about your product or service and how much it helps people and how generous you are with your commissions!

11. BECAUSE YOU PURCHASED THEIR PRODUCT OR JOINED THEIR PROGRAM. Clients and customers are top priority for most business owners. That’s why it’s a lot easier to get noticed and get promoted by someone whose product you invested in. So if there’s someone you want to partner with, buy their product first!

12. BECAUSE YOU HAVE A UNIQUE PRODUCT. You can impress and inspire list owners with your product and the way it’s delivered. If you have something they haven’t seen before, they’re more likely to take a closer look and consider sharing it with their audience. You might even consider giving them a free copy or access to your product.

13. BECAUSE YOU ARE WILLING TO PAY HIGHER COMMISSIONS THAN MOST. If a business owner knows they will be earning more money with you than someone else, that can be enough to get a “Yes!” from them. Remember that keeping 25% of a sale you would not have had is better than keeping 100% of no sale. Plus, you can always offer another product for “back-end” revenue.

14. BECAUSE YOU HELPED OUT AT THEIR EVENT. Reciprocity is a wonderful thing. I’ll scratch your back, and maybe now you will be more inclined to scratch mine. Helping

out a leader at their event can be satisfying on many levels. Not only that, but they are more likely to get to know you and consider helping you because you have helped them.

15. BECAUSE YOU PROMOTED THEIR PRODUCT OR PROGRAM. One fast way to get the attention of a big list owner is to sell a bunch of their product or program. You can even be direct with them that you would really love their support and just wanted to show them some support first. A bonus is that you might earn some nice commissions in addition to getting a great promo partner to support you.

16. BECAUSE YOUR SALES PAGE IS WELL-WRITTEN AND LOOKS LIKE IT WILL CONVERT! If a partner looks at your sales process and it’s less than awesome, they may feel like working with you will be a waste of a mailing to their list. So impress them with your sales process, invest into creating great copy!

17. BECAUSE YOU OFFERED GREAT JV PRIZES AND THEY WANT TO WIN. Most list owners love winning prizes and being on leaderboards. If you can come up with some exciting prizes to offer and some social proof of other people promoting you, you might have some amazing people going all out to win your launch or sell a bunch of copies of your program.

18. BECAUSE YOU’VE BEEN A RESOURCE FOR THEM AND OFFERED HELP IN THE PAST. Most successful business people have good hearts, and if you’ve helped them out in the past, it’s likely they will want to help you back. Promoting you to their list can be an easy way for them to show appreciation. When you’ve got your ducks in a row, ask that person you’ve helped in the past.

19. BECAUSE A MUTUAL FRIEND RECOMMENDED YOU TO THEM. Potential JV partners may feel much more likely to help you if a mutual friend has suggested they work with you. It creates instant trust and gets you ahead of the line a lot faster than if you were a complete stranger. Check your Facebook and LinkedIn connections to see if you have any shared friends.

20. BECAUSE YOU COMPLIMENTED THEM ON THEIR BOOK, ARTICLE, OR IDEA! Successful big list business owners are people, too, and appreciate a sincere compliment as much as the next person. If you can be specific with your compliments, they will feel like you truly got their message and they were heard.

21. BECAUSE THEY WANT TO SUPPORT YOUR MISSION. If your product or program has a strong message that resonates with a list owner, they are likely to write an inspired email to their list, sharing how important your message is and directing them to you. You might search social media and blogs to see if any big list owners feel strongly about your topic.

22. BECAUSE THEY WANT TO APPEAR ON YOUR PODCAST, INTERNET RADIO SHOW, OR YOUR TV SHOW ON YOUTUBE. Exposure is a great thing for a business owner. If you have an audience that you can put the business owner in front of, they will very likely be a guest of yours. And if they feel passionately about the topic or the way it is shared, there’s a good chance they will let their list know about their appearance on your network.

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It really is amazing that there are so many ways to get the attention and commitment of a business owner to share you with their audience. The great thing about this for you is that they just need ONE good reason to shoot out a quick email (or several) to their list. Best of luck to you as you approach and get promotional support from your colleagues, peers, and competitors!

Why just offering commissions isn’t enough to entice JV partners?

money-bag-400301_640It’s a good question. You’ve got an amazing product, you’re doing all the work. All the partner has to do is tell their list about you and they get 30, 40, or 50 percent of the money.

At first glance it seems like people are crazy not to promote your stuff. However, if you turn the tables and ask yourself why YOU are not just promoting other people all the time – you may get an insight as to what your partners are feeling.

Each business owner wants to grow their list and sell their product. Therefore, most are much more interested in you promoting them than the other way around.

The most harmonious solution is probably to find a way that you can each promote the other. Although sometimes your partners will be motivated by other things. So talk with them and ask them, “What would it take for you to feel great about sharing me with your list?”

You might be surprised at some of the responses you get – while other times, it will be the anticpated answer, “if you promote me to your list, I’ll promote you to mine.”

Your best bet might be to “suck it up” and do cross promotions. Then take amazing care of the referrals you receive. Whether they buy your product or not.

This will help you grow a list quickly and have that list be responsive. Once you have a super-high performing list, people will line up to please you for a shot at you promoting them.

You can start establishing criteria such as promoting only those partners who are able to show results promoting you, or matching opt ins with a partner.

The more you build your list in the right way, the bigger and stronger a player you are, and the more you can ask of your partners who want to work with you.

 

Do I have to hold a big launch to get JV partners to promote my product?

space-shuttle-600971_640You probably shouldn’t start out with a big launch. Working with a few individual partners first can be a great way to test out your opt in and sales processes. It will also let you gather metrics which you can share when promoting your launch.

You will probably find that the earlier you plan your launch, the more support you will get. So consider putting a date on the calendar now, but get some JV’s in the mean time.Once you get a few JVs under your belt, you will also build a belief in yourself that you can really do this, and that confidence will factor into your launch success.So go out there and get some JV partners!

I provide services for clients, which are very time consuming, so do I still have to offer 30-50% commission?

bag-147782_640It’s a great question – what commissions do you give for the products and services you offer?

30-50% is a good rule of thumb for electronic products. However, if you are investing your own time with each client, then you might want to pay less in commissions than if you simply had an electronic product.

One rule of thumb we’ve heard and like is this:

40% for Electronic Products

30% for Group Coaching Products (ex. you support many people at once)

1/3 for One on One Clients for the first 3 months (which equals one month of fees as a commission).

You can structure things any way you wish. And it might also depend on your partner and what they will pay you or if they have a very different list size than you have.

With respect to when you should pay commissions. If we assume a 30 day refund period, we suggest you pay commissions at the end of the following month. For example, if someone purchases from you in January, you will pay your affiliate at the end of February.

I’ve tried getting in touch with “big name” JV partners or more established entrepreneurs, but they pretty much ignore me. What should I do?

blue-313937_640The general answer to this is that you need to get their attention and make them an irresistible offer. Here are some ideas which might help you get in front of and attract “big name” partners:

  1. Send a video email instead of a text email like everyone else. Eyejot.com is a great way to do this.
  2. Advertise to them on Facebook. You can create a custom audience using the jv partners’ ids (just go to their facebook pages and replace the “www” with “graph” in the url to get their facebook ids.
  3. Send a physical package to them (or their team) in the mail.
  4. Offer 100% commissions (and plan to make money on follow up sales).
  5. Ask them if there is anything you can do to make it worth their while to promote you – if they answer, and you can, then do it.
  6. Buy their products, read their emails, join their affiliate programs.
  7. Ask everyone you can for referrals – a warm introduction goes a lot further than a cold interruption.
  8. Volunteer to be on their team
  9. Introduce them to great people you know
  10. Have your metrics ready, especially “Earnings Per Click” – how much they can expect to earn for each click they send you
  11. Create a JV Page where partners can go to check you out – impress them with info on your offer, commissions, partners, and webinar/teleseminar.
  12. Contact some of the testimonials they have on their page. Chances are they know these people and perhaps you can get a 3rd party introduction from their testimonial.

Hopefully these ideas inspire you to partner with big players. Just be sure you have something that totally serves their list, offers tremendous value, and has a big potential for earning money for them.

What is the best freebie to give away when doing a JV?

present-307984_640The goal of having a freebie during a joint venture is to get the maximum number of people from your partners’ lists to come over to yours.

Your free gift should be:

  1. Congruent with what your partner’s list wants and with what you are offering (most importantly with what you are offering)
  2. Perceived as “easy to consume” or giving “instant gratification” – a 500 page ebook is work
  3. Considered valuable – both in financial terms and in content
  4. A Complete Solution – not something where they have to give you money to get the results of your promise

Examples of great freebies include:

  • Free Reports
  • Short Ebooks
  • Quizzes
  • Calculators
  • A Toolbox
  • Templates
  • Swipe Copy

Once you offer an awesome and easy-to-consume freebie to your partner’s audience, make sure you take care of them and let them get to know, like and trust you.

How do I avoid potential JV partners feeling like I am competing with them?

goats-173940_640How do I avoid potential JV partners feeling like I am competing with them, and vice versa?

It’s a great question. Approaching JV Partners who do what you do can bring up all sorts of feelings of scarcity and competition.

The key is to understand how what you offer is different from your JV Partners. Even if it’s just your style of presenting the material – some people will prefer to work with you and others will prefer your partners.

By cross promoting each other, you give people on both lists the opportunity to buy either (or both!) product(s). Most people rarely buy just one diet book.

In an ideal situation your products would support each other. However, if they are too similar in their promise, then focus on how they differ and market from that standpoint.

We have seen it over and over again where 2 partners meet as “competitors” and end up friends and great collaborators, each making more money than they would have alone.

How many JV partners should I have?

new-years-eve-2015-583216_640Happy New Year Everyone! Let’s make it a great 2015 by doing lots of high-quality, money making Joint Venture projects!

A question that we often get is, “How many JV partners should I have?”

However a question like that is also like asking, “How much money should I earn?”

So maybe we can use the answer to the 2nd question to answer the 1st 🙂

If you know your income goal and can figure out how many people you need to add to your list to reach it, then you can start finding JV partners with great lists of those people.

Let’s do some quick math:

If your goal is to earn $100,000 in 2015, and you sell a $997 product and your commission rate is 50%, then you need to sell 200 copies of your product. One nice thing is that you will also bring in affiliate commissions for your reciprocal promotions – so perhaps you’ll need to sell even fewer copies – but let’s be conservative and say you need to sell 200 copies.

So how many copies of your product can you sell per JV? If it’s a huge partner, you might just need the help of one person. But that’s a tall order even for many big players. So let’s assume your average partner can sell 5 copies of your program. If that’s true, you will need 40 JV partners over the next 12 months. Can you do that? Absolutely! But if you want to make it work with even fewer partners, then you need to be really really good at converting those JV referrals so that the average partner sells 10 copies. Or maybe add upsells to your process.

Here’s a hint for selling anything online… you need to be trusted. JV’s are great because there is a transfer of trust and rapport from the partner to you – but then you need to take that trust even deeper so that when you ask people to buy, they do. The likely reason your sales are not as high as they could be is that your audience doesn’t trust you as much as they could.

So perhaps set a goal for 50 JV Partners (btw – a launch is a way to get that all done in one shot) and even if you fall short of your goal, as long as you are building trust and rapport with the people who are referred to you, there’s an excellent chance you will get there.

Let’s end this post by saying that maybe your goal is not $100,000 – so you can adjust your numbers as you like. Many of our peers do multiple hundred thousand dollar and even million dollar launches by having 50-100 partners. So please know that you can totally do this!

Happy New Year!

-Rich and Milana

The Top 3 Ways to JV if You’re in a Coaching or Training Business

three-146658_640The Top 3 ways to JV if you’re in a coaching/training business are:

  1. Teaching a class (teleseminar/webinar/telesummit) – we are all experts on our topics, so the easiest way to be valuable to your JV partner is to teach your topic on a free call. They would have to promote it to their mailing list and you get to build your own list of people who are registering for the call.
  2. Share each other’s content (article/guest blog post/video/tool/special report/giveaway event) – this is basically a form of cross-promotion but instead of promoting a product directly, you’re sharing valuable content. It makes you look good in front of your subscribers, while allowing you to recommend a product and earn affiliate commissions. Many of our JV partners invited you to this call because they knew we would be sharing valuable content, so they felt good about inviting you to be here.
  3. Co-creating (product/event/coaching program) – both partners decide to create something together, a product or event, or in our case a membership program. Each partner must bring something valuable to the table (content, list, money, time, marketing expertise, technical expertise, etc.)

These are really 3 fun ways to partner within the coaching/training/speaking industry, because we’re all experts and we all have a body of knowledge we can share or teach.

But just because you’re an expert on your topic doesn’t mean you’re going to automatically get a YES from a JV partner. You need to know how to approach someone to get them on board, to get their support.

Joint Venture Opportunities

earth-216834_640Joint Venture opportunities are everywhere. The key is training yourself to spot them and act on them. The first thing to do is some research on where your ideal prospects “hang out”. What websites do they visit, which leaders do they follow, what seminars do they attend, where do they spend their time online and offline.

Once you have identified where your ideal prospects hang out, the next step is to figure out how to get in front of them. This means contacting the person with the authority to get in front of their audience with your message. In typical scenarios this means the business owner with the list of email addresses, but it doesn’t have to. You want the person who has influence over your prospects to share you with them.

This might mean placement in an email, being interviewed on a radio show or podcast, or being allowed to speak at a live event. Anything that will put you in front of a defined audience.

And often joint ventures are reciprocal so you need to then provide some kind of value for the person giving you the exposure. It might simply be delivering great content – or maybe you will be sharing them with your crowd.

Opportunities are everywhere and your first step is to identify where your folks hang out.