| product to your client base, you will surely lose whatever amount of rapport and trust you've been able to build up until that point. They will clearly see that you simply want their mon Try it before you have them buy it. If you endorse a low-quality or downright awful ey, and you will have to work very hard to heal that "wound". Just one careless endorsement might actually be enough to destroy your business. So don't promote garbage, whatever you do! Sometimes it's not about the money, and some companies won't be interested if you offer them a share of sales - probably because they simply don't understand the concept of joint ventures. In this case, offer to give their customers some sort of "gift" or "one-time-offer" to make them look good. Note: Cross-endorsements often work with companies that aren't comfortable with a typical joint-venture (revenue sharing) arrangement. Don't just limit endorsements to "one-time deals" or visit www.instant-video-suite.com Joint-ventures are often structured to simply be a "flash in the pan" approach to leveraged marketing. While large, focused events can generate "buzz" and momentum around a product, it is almost never as profitable as a long-term arrangement. See if you can kick off the "endorsement campaign" with an initial client-base notification, and then integrate ongoing referrals/endorsements into already existing distribution channels, such as "up selling", product bundling and bonus incentives. If you're the endorser, be very specific with your clients. Clearly explain the benefits of the endorsement to your "list", but don't mislead them or go to www.product-creation-innovation.com its okay to be specific about what you'll be getting out of the deal if they make the purchase. Your honesty in this matter will only help sales, not hurt them. (This isn't always applicable or necessary). As an endorser, promote high ticket items. It's easier to sell 10 products for $1000 each than it is to sell 1000 products for $10 each. Also, look into endorsing products or services that can provide you with a residual (ongoing) income, such as subscriptions, residuals or certain financial products. Send the Offer TWICE. This is the most overlooked part of almost every JV endorsement. Often, some leads simply won't be in a "buying mood" the first time around, and you'll drastically increase your sales by sending the offer out twice. Go Big. Most often, it's the larger-sized operations that will be interested in doing endorsements as a joint-venture. So approach them first before you go after the "little guys" with a smaller client base. |
