When I first started my business I thought that joint ventures were the holy grail of marketing, and in a way they are. Joint venture partnerships if done right are one of the quickest ways to build your audience, sell your products, and up level your brand perception.
But if they aren’t done right, they are also a quick way to ruin your reputation.
You see, most people when seeking joint venture opportunities are focused solely on the number of people they can get in front of and they miss a few other very important considerations.
So here is a short list of what you should be considering before you choose to partner with someone to promote a product or program.
Their message and how it jives with your brand.
Your message and what you stand for is the foundation of your brand and you don’t want to weaken that by partnering with someone that has a drastically different viewpoint.
Does this mean they have to have the exact viewpoint as you?
Nope, it just means that you don’t want to send mixed messages to your audience by partnering with someone that stands for something that goes against what you believe in.
Their image and brand perception.
This is along the same lines as above. The people you associate with affect how the outside world perceives you.
When you partner with someone that is highly regarded in the industry and has the same image you’re striving to create then your brand perception will benefit.
On the other hand, if you’re partnering with someone that has a brand image that isn’t really in line with your own you’re going to hurt how people perceive you.
For example, if you’re a very heart centered solopreneur you may not want to tie yourself to a “die-hard just want to make money and I don’t care how I do it” type of brand.
Their level of integrity and the quality of their service.
Unfortunately this one is harder to gauge unless you’ve worked with them as a client but it’s probably the most important. If you recommend someone to your clients and they have a terrible experience that is going to reflect poorly on you.
This goes for people you are directly referring to other providers as well as when you are participating in something like a tele summit or other mutually beneficial promotion. If the user experience is bad, they are going to blame you for referring them.
As always there are more things to consider than just straight numbers when it comes to marketing yourself and these are just a few of the lessons I’ve learned while navigating the world of joint venture partnerships.© Copyright 2013 Holly Chantal