That first email to a potential JV Partner is scary, isn’t it? What should you say? What shouldn’t you say? Will they reply? Will they think you’re some schmuck hayseed from the sticks?
First of all, don’t worry about getting rejected. Everyone gets rejected now and then, and online it’s usually a simple matter of being ignored. If this happens, realize that they may not have seen your email and send it to them again. Be nice, be respectful, and be persistent. After all, you’ve got nothing to lose by asking.
But there are ways to greatly increase your chances of getting that JV by simply doing the right things in your email. What I recommend…
- Be personal, warm and friendly. Imagine you’re writing to your mother or father – you’d go out of your way to be polite.
- Reference something recent they’ve done. Maybe it’s their latest product or blog post – mention something about it so they know you’ve actually read the post or purchased the product.
- Play to their ego. Praise the post, product, or whatever it is that you’re mentioning. NOTE: Praise it in a direct, specific and honest way. Don’t just say, “Great post, man!” Instead, say something like, “Thanks so much for the video creation tips – I’m going to follow your advice because I’ve learned first hand that your methods work.” A general compliment works, too, if you’ve been reading their content for a while and can say so.
- Get to the point. Don’t write three pages on your personal history of Internet Marketing. Get to the crux of your communication, which is your proposal.
- Propose your plan. Again, don’t waffle and don’t digress. Get to the point and let them know what you’re suggesting.
- Be an authority. This isn’t the time to brag or boast, but it is the time to let them know that you’re experienced. JV Partners aren’t looking to hold your hand, they’re looking to do deals that put new buyers and new money in their pocket.
- If you’ve got proof, use it. For example, if you’re proposing a collaboration on a traffic product and you’re good at getting traffic, show them a link to a few screen shots of your traffic. You’re putting their mind at ease that you know what you’re doing.
- Outline the deal without a lot of detail. If you’re proposing they keep 100% on the front end and 50% of the back end, say so. Don’t tell them which hosting company you use or what hours you work.
- Ask. Ask them for feedback, to do the deal, whatever. Close with a call to action so that it’s super clear the next move is theirs and you’re looking for a response. Again, you’re not dictating – you’re simply being professional in a warm, friendly manner.
Send and wait for a response. Don’t expect them to fall all over themselves in gratitude that you wrote. If the answer comes back negative, write back and tell them thank you very much for considering it, and you look forward to an opportunity to perhaps work with them in the future. Don’t rant or rave or get nasty – the last thing you want to do is slam the door on future opportunities.
If the answer comes back as anything other than a no, then odds are it can develop into a definite yes, but only IF you don’t fumble the ball. The typical response you get back is going to be for more information. Provide it and answer any questions they give you. Keep in mind that the things they are likely looking for in a potential JV Partner are…
- Confidence and professionalism. Do you know what you’re doing? Are you capable?
- Experience. What is your experience as related to the topic of this JV? What are you bringing to the table?
- Trustworthy and reliable. Will you do what you say? Can they trust you?
As to what a JV Partner is looking for in the JV itself…
- No huge time commitments. Big commitments are scary and stressful, small ones are much less so. Don’t ask them to write a 300 page ebook for your JV – it isn’t going to happen.
- Enhanced reputation. Is this a quality product that provides lots of value? Or are you looking for the quick buck?
- More buyers for their own list. If you can bring buyers to the table, you’ve got a powerful motivation for them to participate.
- Money. Of course this is often (but not always) a motivator – how much money might they make in relation to the time invested? However, don’t assume this is their primary motivation. A good marketer knows that growing their list of buyers provides far more income on a long term basis than making quick money today. And no decent marketer wants to make a quick buck if it risks their reputation with their list.
Next you will iron out the details, go above and beyond the expectation of your partner every chance you get and run the best Joint Venture you possibly can. Hopefully it is a great success. And no matter the outcome, there is still one more step to take before you’re done, and that is to thank your JV Partner in a memorable manner. Why? Because many marketers do several JV’s a month, and if you’re not memorable, they may not say yes the next time you ask. Do a little research, find out what they like, and then send it to them. Does he like cigars? Is she partial to good coffee? It doesn’t have to be expensive because it’s not about the money, it’s about saying THANK YOU!!!
Believe me, I still remember a JV Partner I worked with 5 years ago who sent me a very nice gift in the mail. And even though we’ve since lost touch, were he to contact me today for another JV, I would almost certainly say yes. And for him (and for you), that’s like money in the bank.