Improve Your Joint Venture's Success with Giveaways
Have you given away a product or service lately? If you are finding that your joint venture business is slowing, stagnant, or simply not growing, you may discover a boost in sales with giveaway promotions
Customers like to get things for free, but they also appreciate value. Including giveaways in your joint venture marketing can go a long way in attracting new customers. Simply using the word "free" attracts potential customers to your joint venture. Giving away free or promotional products could be the way to increase sales and increase your customer base.
Here are just a few methods that giveaways can help you:
Sample It For Free
The Video Professor is a great example of the "try my product" marketing. John W. Scherer is so confident that his computer software tutorials will work for anyone that he will send a new customer a tutorial for free. By doing so, he predicts that the customer will come back to purchase other tutorials for all their software training needs. His business has grown so much over the last 10 years that Video Professor now holds 80% of the software tutorial market share, thanks to giveaway promotions.
Buy 1, Get 1 Free
You can fill in the blank. You could offer a promotion where a customer buys 1 and gets 1 free, or maybe buys 3 and gets 1 free. The added value you provide to your customers with this type of free giveaway promotion creates loyalty and respect for your products or services. Would you rather buy a daily coffee at full price every time, or would you choose to frequent the coffee kiosk that offers a free latte after you purchase 10? That one free coffee drink can build a large and loyal customer base.
Build a Mailing List
Marketing is your joint venture's lifeline to continued success. If you plan on marketing your products or services through mailing lists or email lists, you can build a substantial database through giveaways. Do a promotion where you give a sample of your JV product in exchange for a contact. Those who are interested in your type of products will sign up, providing you with a focused target market list.
Giveaway Products That Advertise Your Product
Have you ever been given a free pen or t-shirt? Trade shows, expos, conventions, and any other type of meeting place is a great way to market your joint venture products or service through printed materials like t-shirts, pens, refrigerator magnets, coffee cups, etc. By giving away promotional materials, you get the word out about your JV brand and provide potential customers a way to contact you.
You and your JV partner have worked hard to get your creative niche product onto the market. Sometimes simple advertising isn't all you need to get customer to discover your product. Try giveaway promotions. Your joint venture business will get attention and the benefit of returning customers will far outweigh the cost of free promotional items.
About the Author
Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability. Join his Joint Venture Marketing Wealth Report at http://www.christianfea.com/joint-venture-wealth-report/?a=3
Added on October 28, 2009- Array
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