Piggyback Marketing – Working With a Partner From a Similar Business
The idea for a “new” style of marketing (well, new to me, anyway) only came to me when reading something from one of my most respected business gurus, the viral marketing king, Harvey Segal. Ironically, his ebook was full of his ‘supertips’, yet the one that came home to me was a spin-off from something he wrote.
He said something like this:
“I’m often asked what is the fastest way to make money on the internet? It’s really quite simple:
Create a good quality product in a proven market by packaging together similar or complementary products where you have obtained the resale rights. Once you’ve done this, sell it via joint venture deals with large list owners.”
I was working with a client at that time who was desperately trying to increase sales on his website. It was the words ‘joint venture’ which resonated and got me thinking, particularly as he didn’t have a large list of his own. I needed something which would compensate for this.
Yes, of course he could obtain the resale rights to a ton of products, and start a program to build a decent size opt-in list, but I was thinking of that being another and separate consulting project, whereas the client wanted to try something new straight away. And he didn’t have a real product. Well, that’s not true strictly speaking, as he did have a couple of e-books he could sell, but as he’d got them for free, with permission to sell on for a small fee, I didn’t think these would be a very good deal.
So I began to reason with the idea that his website itself was actually a product. There are lots of others’ very good products and services being promoted on his site, and he was getting regularly onto the first page of Google searches for several of his pages, including the very top of the first page, thus making his site quite attractive to potential JV partners, in place of the large opt-in list.
Essentially what I wanted to do for him was to piggyback on the large list that his chosen JV partner has, in order to significantly increase sales of the various affiliate programs he was promoting. He would be piggybacking on his JV partner’s success.
But, problem. He or she, would be likely to want to charge him a fairly hefty fee for advertising his site on theirs, and a simple one-way link is too passive. Answer: find a way in which we manage to create a win-win situation.
I decided to take his two best selling affiliate programs (also from the pages that are regularly on Page One of Google), and create a simple advert to advertise these products on a particular page of his chosen JV partner’s website. It is well known that once someone has bought something from you, their willingness to buy again, even very quickly, is substantially more than at any other time. As the links would be his own affiliate link (or a cloaked version that still identifies him), the customer will know it has his endorsement.
He offered his JV partner a 50% share in the commissions, on all sales which resulted from a referral through his affiliate ID. You may think that 50% is very high, and of course it is, but because he has such a large opt-in list, the total conversions are good, providing my client with many more sales than he would otherwise have enjoyed. Giving 50% was a no-brainer, so he actually offered 60% to the second JV partner with whom he hooked up and got even more sales. He’s now hooked up with eight in total, and might go to ten in the next couple of months.
That’s a lot of Piggy-Back Marketing!
Michael is a British citizen, but long term resident of Asia (Hong Kong and now Malaysia). His 25 year career with one of the world’s largest banks, saw him rising through the ranks in the consumer banking arena, before moving to head up the HR function in the banks largest South-East Asian operations. He started his own Management consulting company in 1995 and today is a partner in another very successful business that in addition to HR and Management Consulting, has branched out to include database/direct marketing and in a big way into Internet and Affiliate Marketing. Michael can be contacted at mikeATmakingdollars4u.com and his website at http://www.makingdollars4u.com will provide interested parties with an excellent picture of his internet and affiliate marketing business.
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