When deciding to embark on a joint venture marketing partnership, the process is similar to developing an initial business idea. Your new partnership can range from being a simple informal agreement to a rigid contract that is bound by a legal document, agreed upon and signed by all participating parties. Whether you decide to go the route of an informal agreement or a legally binding contract, there are a few things to consider at the outset.
1. Conduct Technical and Market Research
2. Develop a Business Plan
3. Determine Investments and Cost Structure
4. Decide on a Long-Term Organizational Format
The above four tenants are steps you take when initially developing a new business. A joint venture marketing partnership is a new business of sorts and needs to be approached as such in order to get the most out of the arrangement. You wouldn’t dream of launching a new business without having a structure in place to address the above topics, and addressing these issues when embarking on a new phase in an existing business will help make the new venture a success, as well as improve the transition to this new phase of your business.
Conduct Technical and Market Research
It is important to know what your competitors are doing. Conducting even just a cursory amount of research is important. You don’t need to spend countless hours and resources on this step, (though the more research you conduct, the better prepared you will be with your own business structure), but having a pulse on industry standards will help point you in the direction for developing a successful joint venture marketing platform.
Develop a Business Plan
Developing a business plan may seem like a fairly obvious step, but it’s one worth mentioning. You doubtless already have a business plan in place for your company, but since this new phase of your business will affect the structure (and hopefully the profits!) of your existing business, it is important to put the idea into a formal plan.
Determine Investments and Cost Structure
This piece of the partnership will most likely be addressed in the business plan, but it is important enough to mention on its own. What is your cost structure for the joint venture marketing partnership? How will the advertising be handled? What types of advertising will be used? How will the advertising be paid for? These are a few basic questions to consider, and they are important to distinguish because the more parties that are involved in a joint venture marketing partnership, the more difficult and cumbersome these details will be to sort out.
Decide on a Long-Term Organizational Format
Once you have developed a business plan and sorted out advertising and cost structure issues, you will need to decide how the joint venture partnership will be managed over the long term. Will one partner assume responsibility for managing the whole partnership, or will you create a steering committee comprised of members from each company to manage the venture? Implementing a management schedule for the long-term health of your partnership at the beginning of the endeavor will ensure things run smoothly and ultimately be a success.
Source by Christian Fea
Text message marketing is gaining in popularity every year and that makes perfect sense considering:
- 90% of all marketing emails are NOT opened by the recipient.
- 86% of all Americans own a cell phone
- 97% of all text messages are opened
- 83% of all text messages are opened within an hour.
SMS text marketing was a no-brainer for companies like: Walgreens, MacDonalds, Ford, Hilton Hotel Group, Pepsi and Dunkin Donuts who have used SMS mobile media to offer coupons, a Super Bowl promotion and special offers.
But what about smaller businesses? Can SMS text marketing benefit single-location businesses, multiple location businesses and even healthcare providers?
The answer is absolutely with a capital “A.”
SMS text marketing can be used in hundreds of ways to stay connected to your attentive audience.
Here are some ideas on how SMS text marketing can be put to good use:
Restaurant Owners could send out text coupons such as discounts for dinner, nightly specials, and even quick limited-time offers during any slow times the restaurant may be having.
Real Estate Agents could send out SMS text marketing messages about new listings, price reductions on current listings and open houses.
Doctors Offices could send appointment reminders, health tips, a welcome message to new patients, and their website link so that patients have the option of downloading and printing necessary paperwork to complete it prior to their visit to save time.
Schools, Churches, Nightclubs, Lawyers, Stores, Bands, Spas, Organizations and more can benefit from using SMS text marketing to stay in touch and communicate valuable information to those that want it.
Your Audience Opts-In
One of the most important elements about using SMS text marketing for your audience is that your audience requests to be included by sending a text message to a keyword that you’ve selected.
For example if I was in a band, I’d simply ask my fans to text in my keyword to a number I provide that goes to my SMS text marketing company so they could get my updates. Fans would be asked to text in the keyword to a number code that’s easy to remember like 90210.
I.E. “Text in the word “Jordan” to 90210 to subscribe to our updates and to register for a chance to win our $1,000 tour package!”
The keyword and the text number can be announced through a sign or banner in your business, a website announcement, face-to-face, on social networking sites and anyway that you communicate with your audience now.
By now you should have a good idea about how your business can benefit from SMS text marketing.
If you’d like to learn more about how SMS text marketing can boost your business and help you stay connected to your captive audience, and check out text services visit http://www.izigg.com/futuremobilemedia or contact me.
Source by Kathy Marlor
Business to business marketing has advantages over marketing to consumers that make marketing even easier. Business to business companies market their products and services to businesses rather than consumers in general. Some of the most successful businesses exclusively supply to other businesses. This is one of the most lucrative business models possible today, and it has proven to be especially profitable when the business is conducted online. If you’re considering going into business providing products or services, then you’ll want to look into operating a business to business company.
With online business to business operation and marketing, many of the expenses of running a traditional business are gone or greatly reduced. This positively affects all the other aspects of running the company. Less expense means less time spent managing the money going out, and more money for important things like business to business marketing and promotion. No company will succeed without an advertising and promotion budget. And as many large, worldwide corporations have shown, the more money spent advertising, the more people become familiar with the brand. That breaks down into more customers and more profit.
A company that does its business chiefly online won’t need the storefront that a traditional business does. And company that relies on business to business marketing wouldn’t benefit from a traditional storefront anyway. Since traditional customers won’t be coming in and out browsing goods or asking about services, the need for a traditional shop area is eliminated. This drops overhead costs dramatically. There’s no huge warehouse or building to pay heating, cooling and lighting bills on, and no need for insurance to protect customers.
There’s also no need to pay a staff to man such a store, which eliminates many of the expenses associated with being an employer. An online company that chiefly exists through business to business marketing may still have employees and some expense, but the lack of a storefront will greatly reduce the costs associated with managing employees.
Now, money that would have been spent on necessities like payroll and utilities can be better spent business to business marketing and increasing the customer base. The expense of promotion is also lessened with this business model because it’s so much easier to identify a target market. There’s not as much need to figure out exactly which consumer to market to as there would be with most consumer products.
With business to business marketing, what it is that you’re offering to business automatically identifies your target markets for you. If you’re selling general business products like paper or office supplies, then your market is large and wide open, and you’d do best finding a particular angle to market your products to each specific industry. But if you choose a product or service that’s very specialized, your marketing research is simplified a great deal.
The internet is great for b2b marketing because of its word-of-mouth properties. While many of your customers will find you thanks to your business to business marketing and promotion, many more will because of social networking.
Source by hardeep
What Is Network Marketing?
I wanted to give you an official definition from Wikipedia Encyclopedia. Network marketing is a general term for a type of marketing that is usually performed by an individual instead of a company. It refers to the use of interpersonal or social networks to market products and services for business purposes as opposed to the more traditional and common practices of wide-range advertising.
The term is technically a type of marketing that can be used as part of an overall marketing strategy which may or may not encompass multiple tactics. For example, the most common marketing tactic in a network marketing strategy is word of mouth.
Word of mouth marketing
Word-of-mouth marketing, which encompasses a variety of subcategories, including buzz, blog, viral, grassroots, cause influencers and social media marketing, as well as ambassador programs, work with consumer-generated media and more, can be highly valued by product marketers. Because of the personal nature of the communications between individuals, it is believed that product information communicated in this way has an added layer of credibility. Research points to individuals being more inclined to believe WOMM than more formal forms of promotion methods; the receiver of word-of-mouth referrals tends to believe that the communicator is speaking honestly and is unlikely to have an ulterior motive (i.e. they are not receiving an incentive for their referrals).
Many companies which utilize a network marketing strategy facilitate it with a multi-level marketing (MLM) compensation structure. For this reason, the two terms are often confused with one another and used interchangeably.
As a retired educator, I have networked all of my 34 years in education to help my counselees and their parents. As educators, our profession is relationship based and communication is the key to our success. Our ability to build a relationship with our clients determind the success for all concerned. So, networking is not new for educators and this is a great asset that we bring to the industry of network marketing.
Why Are Teachers/Educators Great Network Marketers?
Teachers who join Network Marketing Industry ultimately become the best MLM mentors to their team. They often create manuals and educational materials that are of great value to new team members. Educators are by nature great mentors and great communicators. Also, in general, educators are very nurturing and people oriented professionals.
Since network marketing is a relationship business, educators are the perfect candidates for this industry. This business is about teaching teachers to teach. MLM is a process of duplicating our efforts in order to grow our business. This is the leveraging of our time through duplication. You as the mentor/teacher want to teach your downline to be duplicatable. You want to teach your downline to the same thing that you have done in building your business.
Are you a teacher and are you looking for a new career or a part time income opportunity? See how what you already know gives you an edge over the competition
Is Network Marketing a Relationship Business?
Yes, in the case of network marketing, it is of critical importance to build a sense of trust with your team members. Network marketing is definitely a relationship business and each relationship typically starts out with two acquaintances or strangers sitting together to discuss the possibility of working together to build a team of franchised individuals.
The team building aspect of network marketing is of vital importance to the success of each individual member and to the team as a whole. Two key elements of team building are trust and confidence and these factors play a very large role, particularly for new team members.
As a team leader, you need to be knowledgeable about the business (products and services) and straightforward with answers to questions about the business as well as providing timely and thorough support to your team members. These actions will cement the relationship and build trust and confidence among your team members.
Is It Time For You To Take Massive Action?
Yes, it is time for you do something that will change your life. It is insane for you to think that things are going to change if you continue to do the same thing every day. For things to change, you need to change. If you are tired of living from check to check and barely making ends meet, then you should consider a part-time business that can eventually replace your full-time income. If you are having too much month at the end of the money, then get off your butt and do something to change your financial situation.
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Source by Leo Darosa
If you have been looking for a list of MLM companies in Singapore we have the top fifteen here for you to look over. Starting a new home based business can sometimes be stressful, trying to figure out which one of the thousands of MLM companies are worth investing your hard earned money into hoping to make a profit. While taking a look at the ones below, think about if any information we provide is things you are looking for in a company.
Eleven out of the top fifteen are internationally known, but the other four (Venture Era Local, LongFar China, WBG Local, Best World Local) were started in Singapore. This list of MLM companies also includes common names such as Amway, NuSkin, and Melaleuca which cover three of the top 5 overall. Since you can do the research on all of these companies we thought we could at least get you started with a couple of them finding out what exactly they do for the MLM world and cost to join, etc..
You will find NeWays International at #3 on the list of MLM companies in Singapore, selling nutritional products as well as personal care products. At first look this sounds like a thousand other health companies, but NeWays offers not only natural ingredients that, but longevity starting out in 1992. Positioned in twenty-nine countries the company has over five hundred thousand (500,000) distributors world wide, providing their own manufacturing plants in Utah.
As of February 2008 Neways offers a free enrollment with the opportunity to receive a free product that you can try for yourself or sell and keep the entire product. There are six to choose from ranging from $6.90 in price to $35.90, and also you will get a starter kit when you sign up. This will give you all the tools you will need to work towards becoming successful with NeWays International. Its a great starting contribution from this list of MLM companies.
Rounding out the top 5 of this list of MLM companies is Usana International which not only is a health and wellness company as well, but also has its main headquarters in Utah. Usana is the same company that in 2006 signed an agreement with the WTA (Women’s Tennis Association) where the players would be distributed Usana products due to allegations in recent years of illegal substances in professional sports.
Usana International began in 1992 and now covers fourteen different countries recording almost $450 million in sales per year. Looking at the top 15 list of MLM companies we came across an interesting fact to Usana’s products, its a skin care product called; Sense. We found that the shelf life for this product is two years leaving Sense as the only company in the world with a patent of this magnitude on such a product.
Becoming an associate of Usana International costs anywhere from $19.95 to $49.95 which covers the starter kit. Out of the list of MLM companies in Singapore there are several who are free to join, but cost income for starter kits. Nothing uncommon at all, but if you are on a financial budget you will want to research each company and find out which is the best for you. Just remember strong research equals greater confidence in the company you choose.
Source by Brian Garvin