Joining in joint venture relationships can be a great way to build an email list. A joint venture refers to a partnership that two or more people enter into in order to work on a particular promotion or project together. The key here is to ensure that both sides benefit from it, and that both sides are targeting the same market (but not in direct competition with each other.) In other words, if you are selling candles, don’t team up with someone who sells pet products. You might want to form a joint venture with someone who sells other home decor accessories.
Forming partnerships with other list owners is an effective way to promote your list. Let’s look at the reasons why.
Relationship With List
The joint venture partner you team up with has already built a relationship with their list. So, a recommendation coming from them to join your list will mean much more than if they just saw an ad somewhere or ran across you on the internet.
A Ready Market
If people are already on an email list, there is a good chance they will join yours also. They have proven that they are willing to share their contact information so they are a group that is ready to join.
This is a very affordable way to promote your list – it’s usually free! The way it normally works is that you would approach a business owner (make sure they have a list which can be determined by seeing a sign-up box on their website/blog.) Ask if they would promote your list to their subscribers in turn for something you can do for them.
Here are some suggestions for a reciprocal offer:
A service you could do for them – proofreading, marketing, etc. Make sure you have the necessary skills for what you offer.
Advertising on your website – if you have an established site but just have not started a list yet, offering them some free advertising is a great option.
If you already have a list but are looking to add more subscribers, then you could do a cross promotion where you promote each others lists to your current subscribers. For this to be fair, you should both have basically the same sized lists.
In some cases, email list owners will accept paid advertisements that go out to their subscribers. This could be in the form of a solo ad or an ad in their regular ezine. If you decide to pay for some advertising, try to find out the list size and the responsiveness of the subscribers. And again, make sure it is a good match for the market you are trying to attract.