Has your joint venture taken off yet? Or are you and your JV partner still struggling to get noticed or even find that special niche? Joint ventures are a great way to promote a business idea with double the experience and double the resources. But without the right marketing strategy, your JV may sit stagnant with flimsy profits.
How can you give more oomph to your JV marketing and promotion? Take these marketing tools into consideration and put them into practice. You may find that your JV will start flying instead of coasting.
Joint Venture Design
What is your JV design? You should have a marketing design and theme for your business product. Here are some design elements to consider:
Color – What is your color scheme? Use colors that evoke emotions. For instance, reds are passionate, vibrant colors, while blues are subtle and more subdue. Use colors that promote your JV business idea best.
Logo – Does your JV have a logo? If you are jointly manufacturing a product or performing a joint service, you should consider having a professionally designed logo to add to all your promotional materials.
Graphic Standards – Does your promotional material have consistent graphical standards such as fonts, colors, and themes? Your promotional material will be taken more seriously when your graphics are consistent and professional looking.
Where do you advertise your joint venture product or service? Are you marketing on a local, regional, or national level? The methods you use to advertise can make a big difference in the success of your JV. Consider how you use the following:
Print – Consider the above-mentioned graphic and design standards for your print ads. Are your print ads eye-catching? Where do you place your print ads? Newspapers? Magazines? Local programs? Print ads are expensive. Be sure to place your ads in print medias that will be seen by your target consumer.
Radio – Radio ads are relatively inexpensive and can be effective. If you wish to promote through radio, be sure to talk with various radio stations and have them provide important demographical information.
Television – Television spots can be produced from the local to national level. Have you seen the local auto dealer ads? Usually they have low production value, but they get the message across clearly. National TV campaigns will require big bucks spent on production including writing, actors, equipment, and of course, cost of placement.
Internet – Your Internet marketing strategy should include at minimum a website for your JV product. You should also take advantage of paid Internet marketing such as pay per click or pay per call, where your ad gets placed on top of search results for specific key words. This is often best done with the help of PPC professionals
Joint Venture Marketing in Social Media
And don’t forget the power of networking through social media. It’s free and with a good promotional strategy you can build a huge customer base.
YouTube – Create short, creative videos that promote your JV business.
Facebook – Facebook allows you to create a business page and promote it among all Facebook members.
Twitter – The popularity of Twitter allows you to promote your business 140 characters at a time. Tweet about your JV business and acquire followers. You can send out links to your website or even promote coupons in your tweets.
Your JV promotional strategy is important to the ultimate success of the venture. Be sure to take advantage of every promotional opportunity available to you.