How To conduct Joint Venture Webinars to Sell additional online courses
You've heard all the marketers on the internet declare that The money is on the list. Certain marketers (we don't want to mention names) have used to refer to their lists as their personal ATM machines. For clarity, we don't suggest using your lists of contacts as a personal ATM, but there is certain to be some truth in the expression.
If you're left with an insignificant list? If there is any list? What are you going to do to promote your online course, and even more crucially creating revenues? Simple: join forces with Joint Venture partners.
What is the meaning of Joint Venture partner?
Joint Venture Partners (also called JV Partners promotional partners as and affiliate partners) are organizations or individuals who have the electronic mailing list comprising people in the area you would like to target, and agree to advertise your online course through the list for the list for a cost or percentage of the sales. The course is offered by the seller. The list is provided to the vendor. The profit is split. It's a win-win for everyone involved, and that's why they're effective.
In this piece this article will show how to identify suitable Joint Venture partners to promote your online course, how you can reach them, as well as how you can work with them successfully. We've spoken to lots of experts about this subject and will share their views sprinkled throughout the article.
Before we tell how to demonstrate how you can incorporate Joint Ventures into your course marketing strategy, let's talk about what makes Joint Ventures are so successful.
NOTE Note: We've made the following workbook that is available to print and download to make it easier to track all the steps in this article. Collaboration with partners from different companies can be lengthy, and it's helpful to have a tracking document similar to this.
The benefits from working with the Joint Venture partner:
Alongside generating revenue through the sale of your course online, there are additional advantages to the partnership and Joint Venture partners such a powerful marketing strategy. In no specific order, here are some benefits:
1. You don't need an audience
The primary benefit from having the Joint Venture partner is the exposure to their audience. If you are planning to market an online course, it is essential to find a audience that you can bring the course to. More specifically, you need an audience that is targeted and interested in your course topic. This won't be very effective to market your pet's education course to all pet owners. It is important to ensure that you have your course in front of the right individuals.
The building of an audience can be a slow processand isn't achieved over night. If you've got an online class, but you don't have an target audience (ie. a targeted email list of potential customers) Collaboration together with the Joint Venture partner is your ideal choice.
We asked Sol Orwell, the Co-Founder of Examine, to share the knowledge he has gained to us. What Sol Orwell told us about the benefits of working together in conjunction with Joint Venture partners:
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2. It's not required to invest money on advertising (free exposure)
You only pay you Joint Venture partner if sales are made. Because you're paying them using funds you've earned from profit (sales that you would not be receiving in other circumstances), you're not spending on your own pocket. Your money after you've paid them their portion is profit for the company.
3. It will help you build your own list
4. It is possible to grow on the trust that they build on their intended audience.
We spoke to Iman Aghay, who is the director of Success Road Academy and creator of the Ultimate Course Formulaabout this. The topic he had to address is the trust transfer that takes place when a Joint Venture partner promotes you:
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5. A higher conversion rate than advertising. Higher conversion rate than paid
In comparison to the price of advertising in order to market your online courses to an audience that doesn't know your name (aka"cold traffic") as well as the frequency of conversation of your marketing will be much more efficient in the case of the Joint Venture partner. Why? The reason is that the users who come to your site are able to trust the person who drew them in. In this way, the an use of the services of a Joint Venture partner to promote your online course is more efficient as opposed to using ads that you pay to.
Below is the details we received from Iman Aghay shared with us regarding the effect on the influence that referrals by a Joint Venture partner can have an impact on conversion rates
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6. You are able to work with as numerous Joint Venture partners as you want to
A further benefit of this method is that there's an unlimited number of many times you could use this method. If the person with whom you collaborate is a person who would probably be drawn to the course you're taking and not competing directly with them, then you're free to work with them.
We talked to Matt McWilliams, an Affiliate Manager who has helped numerous entrepreneurs and online course creators create successful launches of their products , including Lewis Howes, Jeff Goins Peter Voogd Ray Edwards, and others. The term he used to define the benefit was scalability:
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The Bottom Line The Bottom Line is: Credibility + Distribution
You can clearly see the above benefits and the positive impact cooperation on behalf of Joint Venture partners can have for your company can be hard to ignore. If we were to summarize all of those advantages in two words, they are the distribution and the credibility.
We spoke with Dana Severson, the Director of Marketing for Promoter Distribution, and distribution as well as reliability were the exact terms he used to describe the main advantages in collaboration is undertaken with Joint Venture partners:
"The two major benefits I look for in any relationship is the ability to distribute (how many people am I able to reach?) and trustworthiness (does this partnership improve our social credibility? )." Also, the credibility (does it improve the social proof? ).
How to locate possible Joint Venture partners:
When you've figured out why using Joint Venture partners is so effective, we'll discuss how to locate these partners. There are a variety of places where could help you locate the ideal Joint Venture partner to help to promote your online course
1. Your networks
The first location is worth looking for the potential Joint Venture partner is your existing network. This is a group of people who have an established relationship that they trust, admire and appreciate your business. Are you aware of anyone who is connected to your target public? You know who could connect you to someone with access?
Joining your current network is one option that Matthew McWilliams is recommending as the first location to locate the perfect Joint Venture partner:
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2. Your Current Customers or Email List
Your existing customers and/or the subscribers list to your newsletter could prove to be a fantastic resource for find an Joint Venture partner because these are people who purchased your item or product (or at a minimum had a taste of your material) They are also aware with what you offer along with the items and services you offer. There are a few who be able to connect with your prospective clients, or may be able to introduce your company to someone who is.
We spoke with Sohail Khan who is known as the top Joint Venture Expert as well as the co-author for Guerilla Marketing and Joint Ventures together with Late Jay Conrad Levinson. Sohail has earned million of dollars him and his clients through Joint Ventures. This is what he said on how you can leverage the existing customers to find the ideal Joint Venture partner:
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3. Bloggers:
Perform a Google lookup for blogs related to the subject of your class. The majority of bloggers don't possess their own goods or services that they can sell to their audience However, they'd like to advertise your course to their readers should they believe it's something they are attracted to. It's possible to grant bloggers free access to your course prior to when you ask for them to endorse it in order to give them the exact information about what they'll be promoting to their audience.
In accordance with Iman Aghay Iman Aghay, people could choose to endorse your company due to the worth of your material to their audience, and is not necessarily due to the amount they get from their customers purchasing from you.
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4. Podcast hosts:
Search for podcasts with a connection to your topic on the iTunes store. It is also possible to check out the New and Notable section as well as the What's Host section to find the categories most related to your topic. Create a list of podcasts that you think will appeal to your viewers, visit their websites to connect with their hosts.
Pat Flynn, for example hosts a highly rated business show known as the Smart Passive income Podcast. Even though Pat doesn't personally offer any courses that teach the best ways to make money online passively, he has a very vast audience who are fascinated by the topic. This is why Pat is often a Joint Venture partner for the presenters of his show that have an online course that viewers will flock to.
In this instance, not long after appearing as Pat's guest to his radio show 2015 talking about selling and making online courses, David Siteman Garland and Pat presented a webinar jointly. Pat requested that his audience take part in the event, during which David shared his ideas on the creation and promotion of online courses. In the following presentation, David pitched his course called The Best Online Courses You Could Create to all who attended after which he split the profits with Pat. This resulted in a win-win situation for all parties. David attracted more students to the course, Pat made money, and his audience was able to learn about a specific opportunity to earn money from the comfort of their homes.
This is a photo of the Registration Page to the webinar they held with LeadPages (they utilized LeadPages for the creation of the page):
5. Authors:
Take a look at the top bestsellers lists Go through the list of bestsellers available on Amazon for subjects that have the most relevant to the subject that you teach. You want to find books that your audience is purchasing. Also, you can search for titles using the main search engine to see the titles that appear in result of your search. Get a list of the authors who have published books on your subject (or similar topics) Visit their site for contact information with the writers.
6. Other Instructors Online:
Other online instructors can become fantastic Joint Venture partners because they already have an extensive audience of those who have taken an online course. One of the most important factors to take into consideration is finding online classes that are compatible to the content of the class, but not directly competing with the course you are teaching. If you discover a class that meets the criteria you should contact the instructor. Marketplaces for courses like Udemy and Lynda can be helpful for searching for courses online.
David Siteman Garland (Create Awesome Online Courses) as an example, will often promote others of his online courses to his students. At the start of 2016, the year, David was promoting a course entitled Your First 10,000 Readers by Nick Stephenson. A lot of his students are writers who wish to learn how to create their own mailing lists. Because list-building isn't something which David himself is able to teach, creating one Joint Venture with Nick Stephenson made perfect sense. This was a win-win situation for all involved.
It is the screen capture from the registration page for the webcast that they watched with each other:
7. Facebook as well as LinkedIn Group Owners:
Find groups related to your topic of interest in using Facebook and LinkedIn. along with LinkedIn. Learn who started the group, and then write them a personal message as well as a contact request. Facebook as well as LinkedIn Groups are great places for conducting market research about your current and/or next online course. Consider joining these groups in order to take part in discussions.
8. Conferences and industry events:
Find conferences or other related events in your area and connect with the people who are organizing these events. If possible, you should meet the event's host personally (a encounter in person is more meaningful as opposed to an exchange over the internet). If you organize an event, it is probable to attract several hundred or even a couple of thousand people in their database who have an interest in the same subject.
Matt Astifan, host of a Vancouver-based Meet Up group called Internet Masterminds to give an example is often a Joint Venture partner for people offering online courses that are related to marketing on the internet. In some instances the group invites them to present at his gathering andin other instances they are co-hosts of an online webinar that is held by them, that sells their course online to his viewers and share the profits with him.
What can I do to get in touch with a potential Joint Venture partner:
After you've made an inventory of possible Joint Venture partners, the next step is to reach for them. Before you can do that you need to know something crucial.
In asking someone to help promote your online course is basically asking for the offer of a favour. If they're not sure who you are or have helped them with prior assistance, they may not be confident in promoting your course to their target audience (an audience they've put in long hours and effort to win the trust of).
Give the value of a possible Joint Venture partner before you make an offer to them.
Instead of pitching to someone whom you do not even know in the first place, take an hour or two trying to add value to them before you make a pitch. Leave a comment on their site. Join their email newsletter. Participate in one of their webcasts. Follow them on Twitter. Buy their product. Write a favorable review about their podcast or publication. Recommend a customer to them. Go to their live event. It's easy to understand. The aim is to get their attention by supporting the work they do.
It is this approach Michael Ugino, Co-Founder and CMO of Sellbrite suggests:
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If you are supportive of someone else's efforts at first, they'll be more likely to support of your own in the event you invite for their support. It's crucial to lay the foundation of the long-lasting relationship. It's easier to approach your friend about some help than to approach someone new. Here's the information Sohail Khan spoke about the importance of developing relations with prospective Joint Venture partners:
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It is also important to ensure that the individual who you are contacting isn't offering an online course that competes with yours. It is important to find those who are popular with the audience and will likely be interested to take your online course However, they should not be competing with you. Your online program must compliment your existing course content that is provided to the audience.
In this case, if for example, there is an online program instructing people on how to become graphic designers on a freelance basis, or if you've got an online class on Adobe Photoshop, then your course can be a supplement to that of the instructor and not competing with it. If this is the case, it is proper to get in touch with those that have the same program.
Collaboration with Joint Venture partners that provide the additional benefit to clients that are like them is a great concept for entrepreneurs of all kinds, including Devesh Khanal the founder of a consultancy for improving conversation. The following is his account to us about the experience he had working together with Joint Venture partners that serve the same customers:
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Send a personalized email that is sent to each possible Joint Venture partner
Once you've built a rapport with potential Joint Venture partner (or have already caught their eye by encouraging their work) The next step would be to email them.
If you send a prospective Joint Venture partner an email and they want to receive the email, ensure that the mail that was written specifically for their requirements. The sending of a customized email is vital. If the email you send appears similar to a generic template you've sent to a variety of persons, chances are that you'll not get a reply from those.
Here is what Jason Quey, a Growth Strategist for Content Marketer has told us about emailing potential Joint Venture partners:
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Visit them personally (tell them who you are along with what you're doing and also who you are serving and how you can help them). Reward them for their efforts and show your boss you've done your homework by mentioning specifically why you appreciate what they've done or their content can be beneficial to you.
Then, inform them that you've created an online course which you believe their target clients would enjoy and also complements the products and services they're already providing. Let them know that you'd love to discuss the possibilities for forming an Joint Venture together and ask to link with us in the event they're interested.
Keep in mind the reason to send the first message is to grab their attention and begin a dialogue. The purpose of this email is not to ask for them to immediately promote your business. According to what Dana Severson explained to us, it will take some courting in order to convince the person to agree to join this Joint Venture with you.
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Create an event
If you've been contacted by the prospective Joint Venture partner, we recommend scheduling a phone conversation (or Skype call) with the person. It's more personal than an email which gives you an opportunity to build a rapport while you discuss the specifics of working with them. An personal gathering can be even more effective, however, the majority times, it's just the telephone call which is scheduled in order to be sufficient.
If you decide to collaborate, it's best to sketch out your discussions in writing. This will help prevent any confusions that might arise later. Here is what Jon Tavarez, the Founder of Vantage Internet Group we received regarding verbal agreements:
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How can you collaborate in conjunction with a Joint Venture partner:
There are a variety of ways to arrange a Joint Venture, but since your goal here is to sell your course online to the people who will be watching it is recommended to host an interactive webinar. An online webinar offers you the chance to add value to your viewers by sharing the best material you've got to share in advance. After the webinar, the class will be offered in the form of an online class to participants.
If you are considering hosting an online webinar with one of the Joint Venture partner, there are four main elements to discuss with potential partners before committing to work together:
1. They advertise the webinar through their email lists
The very first step in the procedure is asking the Joint Venture partner to send an email to the group of participants inviting them participate in the webcast. Make it really easy for them to do this. Send them a specific email copy that they can send to their list (subject bullets or lines for webinar information and more.) and links to register for the webinar. Give them 2 or 3 emails to send to contacts (an initial invitation to the webinar as well as a couple of reminder emails).
Based on Matthew McWilliams It's recommended to determine all information about the event, and also the roles (including email addresses) in the joint venture with the Joint Venture partner several weeks before the date:
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2. The list of email addresses you create is created as people register to attend the webinar.
For the purpose of attending the live webinar, attendees need to sign-up to attend the webinar with the email address they use to sign up. The webinar organizer will need to establish the registration Page to host your webinar. It is suggested to provide the free content (an eBook or PDF-based guide for example) as a reward for signing up. It is important that your Joint Venture partner knows that advertising your webinar to your database of contacts can help create your database and they'll be fine in that.
If someone registers to attend your webinar, you'll send them a confirmation email as well as a number of emails to remind them prior to the event. When the webinar has ended you should be prepared with a hyperlink to the replay to the attendees (many online courses sales come directly from replays of webinars). Sending emails to webinar participants will usually be your responsibility.
3. Live webinars are where you sell the program.
Although certain Joint Venture partners will want to send their lists inviting them to join the webinar and not actually host the session jointly with you, we would suggest that they organize the event jointly with you. It's not necessary to be present throughout the whole session, but should they be able to personally introducing themselves to the attendees right from the opening of the webinar, this will increase the volume of earnings since the individual introduction will inspire the audience of attendees.
It is not your responsibility to leave it to the discretion of your Joint Venture partner to decide how they introduce your audience to the webcast. At a at a minimum, give them an introduction of one paragraph to position you as an authority on your field prior to starting your presentation. Also, make sure the Joint Venture partner is aware of the program you'll be using to host the webcast. It's recommended to make sure they are on time so that you can review the audio, video and screen sharing capabilities prior to when beginning the show.
When you are done, be sure you give the EPIC speech to your Joint Venture partner's audience. Give them a lot of valuable information before stepping into presenting your course online. In the words of Iman Aghay the inability to carry out these two tasks is actually insulting to the Joint Venture partner:
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4. You earn money through the sales you make from your course through them.
First, friendship. Second, business.
In the end of this piece We will be certain to highlight an important fact to remember, which is that the primary aspect to making to the Joint Venture partnership work is investing the necessary amount of time and energy required to set up a partnership in the beginning.
It's a great feeling when you're able to advertise your class to the target audience, and both of you profit through the marketing of an online class. However, it's not going to happen in a hurry. Prepare to take several months building rapport with a the potential Joint Venture partner before they accept to let you promote them. It is an method that's long-lasting and one in which establishing genuine connections with people who are influential who are in your field will eventually yield results.
We spoke with Yaro Starak who is a very accomplished business blogger who has recently earned over $100,000 through the sales of his blog course in a two week period due to the support of his Joint Venture partners. Starak pointed out the importance of adopt the "friendship firstand business next" mentality. This is what he said:
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Are you prepared to utilize Joint Ventures to sell more online course?
Well... that's it! Now you have more details on how you can use Joint Venture partners to promote your online classes over the majority of instructors who are online. You're now able to contemplate how you utilize your newly gained power?
Prior to leaving, make sure to download our free Joint Venture worksheet. The worksheet is a great tool to develop the details of your Joint Venture marketing strategy and make sure you're communicating with every possible Joint Venture partner you reach out to.
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