10 DEADLY JOINT VENTURE PROFIT KILLING MISTAKES
BY: GABRIEL HOWES
how to avoid some of the costliest jv mistakes
before they happen
1. not sending out another mailing
SENDING ANOTHER MAILING (TO THE SUBSCRIBERS WHO
haven't bought) will often bring 50r so of the
previous response.
2. picking the wrong mailing list
REMEMBER THE 40-40-20 RULE. 40F YOUR RESPONSE
depends on the right mailing list, another 40n
the right offer and 20n everything else.
3. targeting visitors instead of buyers
BUYERS HAVE ALWAYS BEEN AND WILL ALWAYS BE MORE
profitable than visitors.
LET'S TAKE IT A STEP FURTHER. A CLIENT WHO BUYS
from you two times is twice as likely to buy as
someone who only buys from you once. why?
BECAUSE THEY HAVE MORE OF A RELATIONSHIP WITH
you.
4. NOT SENDING THE ENDORSEMENT E-MAIL THROUGH A
spam check service before rolling it out
ACCORDING TO RESEARCH DONE BY TIME MAGAZINE, A
mind-numbing
40 o 70f all e-mail is being destroyed and
DELETED BY SPAM FILTERS.
the problem with that is that a lot of
LEGITIMATE E-MAIL IS GETTING EATEN BY THOSE
filters, including endorsed mailings. and that
sometimes means a massive loss in profits.
if you have a mailing list of 30,000 strong,
that means that under certain circumstances,
12,000 TO 21,000 POTENTIAL BUYERS WON'T EVEN
receive your endorsement.
BY CORRECTING THE PROBLEM, YOU MAY BE HARD
pressed to find something else that will make
such a positive impact on your bottom line in
SUCH A SHORT AMOUNT OF TIME.
listen, i don't know if the percentages quoted
BY TIME MAGAZINE ARE STILL ACCURATE, AND TO WHAT
extent, but the fact remains that those filters
are routinely destroying a percentage of your
PROFITS.
use a good spam check service and you will
INCREASE READERSHIP.
5. not testing the mailing (or jv)
testing is a risk-reducing activity. if you
don't test, you are literally playing russian
ROULETTE. ALWAYS SEND THE TEST MAILING TO THE
best names on the list.
6. NOT MAKING IT EASY FOR CLIENTS TO BUY
if you are offering a high ticket product or
SERVICE, GIVING YOUR CLIENTS THE OPTION TO
purchase with multiple payment options or
multiple credit cards can definitely boost
RESPONSE.
7. mailing jv proposals or endorsements so they
ARRIVE ON THE WRONG DAYS
mondays and saturdays get the worst results. the
BEST DAYS FOR YOUR PROSPECTS TO RECEIVE YOUR
mail (or e-mail) are tuesdays, wednesdays and
thursdays.
8. sending the mailing out to a desensitized
client base
many online publishers make this mistake. it
seems like every other day they have another
PRODUCT OF THE YEAR TO SELL OR ENDORSE. THIS
eventually (and in some cases, rather quickly)
desensitizes their prospects to all their
OFFERS.
in fact, i wouldn't be surprised if some online
MARKETERS HAD MORE AND MORE TROUBLE GETTING THE
same kinds of results than they used to get. the
reason is simple. their subscribers have not
ONLY LOST FAITH IN THE FACT THAT THE LIST OWNER
doesn't have their best interest at heart, but
also they will simply avoid reading their
NEWSLETTER.
that equates to a massive loss in readership.
make it worth their time, and they will
definitely take the time to read your e-zine.
9. sending an endorsed mailing without knowing
the conversion rate or visitor value
some partners endorse others without even
knowing their visitor value. they are flying
BLIND, AND USUALLY GET HIT HARD.
savvy marketers won't want to pitch their
CUSTOMER BASE MORE THAN THEY HAVE TO, AND THEY
definitely won't endorse you unless they have
reasons to believe that they will be successful
WITH THE MAILING.
10. doing a jv with an endorser that has a small
(OR NO) RELATIONSHIP WITH HIS / HER CLIENTS.
relationships make up the biggest factor in
SALES.
in jv endorsements, relationships are
EVERYTHING. ALWAYS PARTNER WITH LIST-OWNERS THAT
have a great relationship with their subscribers
because the stronger the relationship, the
STRONGER THE ENDORSEMENT, AND THE STRONGER THE
endorsement, the more sales you'll make.
COPYRIGHT © 2009 GABRIEL HOWES ALL RIGHTS
reserved
ABOUT THE AUTHOR:
gabriel howes is a joint venture expert.
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