Thursday, July 4, 2013

The Power of Joint Marketing Partnerships

A business can't become a success on its own. Every company needs to develop partnerships with vendors and customers in order to generate profits. The potential for profits can be elevated even further with a joint venture partnership. Case in point, the Yonanas machine.

This was a simple gadget that turned overripe bananas into a frozen dessert. The company was humming along trying to break into the big leagues when they formed a joint partnership with Dole. That translated into 100 million bunches of bananas having stickers challenging consumers to "Turn me into a Yonana!" The machines flew off the shelf. Can you think of a joint partnership that would benefit your business? Think about these tips for achieving stronger marketing through a joint partnership.

Power Up Your Facebook Page

Billions of users log onto Facebook every day. Even if you capture just a fraction of those potential "likes" you'll be sitting pretty. Once you've established your Facebook page and have it bursting with fresh content, look for a joint partnership page that you can team up with. If you sell decorative wine corks then finding a wine distributor would be a natural fit. Not only can that cork company team up with a wine distributor, but also a gift basket company. What you'll want to do is reach out to that partner and set up a mutual deal where you're both promoting each other through Facebook updates. That's the power of social media joint partnerships.

Use Backlinks for Your Content

That same exchange of Facebook pages can occur with backlinks on your content pieces. Once again, you'll be working with a joint partner to create content that you can both benefit from. It would be like creating an continuous circle of traffic from your web site to your partner's web site. If you're both using effective SEO then it's going to be a win/win all around.

Share the Goods

As you already know, giving away free stuff is a wonderful way to generate traffic to your web business. However, you don't have to limit yourself to giving away freebies just on your site. You can also share incentives on your joint partnership's web pages. Setting up a contest that shares prizes with a partner's products is another terrific way to pump up traffic between the sites. 

Once you've found the perfect joint partner, there should be no limit to the amount of exchanges you can both engage in online. It will take coordination between the parties but that is easy to manage. Joint partnerships are all about thinking outside of the box and you should already be doing that!