Joint ventures - Marketing⁺

Joint ventures – Marketing⁺ a collection of papers from PlannedSites for SME's

"None of us is as smart as all of us." - Japanese Proverb

In a difficult economic climate, a joint venture is something that is to be considered.  There can be different forms but the general premise is an arrangement between two traders (in different trades) for their mutual benefit.

Your firm could join forces with, say, a firm of solicitors or a company offering IT services. Each would refer clients to the other. Formalities need be no more than exchanging a supply of business cards for giving out. Or you could go further and print some “Free Initial Consultation” vouchers for that particular firm.

The arrangement might go further and involve some commission for work introduced. You might consider a joint party to the local races where you invite some of your clients and the solicitor invites some of his. The aim would be that each set of clients could start a relationship with the other professional firm.

However, the above two examples are generally seen as strategic alliances.  In its most extreme form a Joint Venture can be a continuing business relationship, where two or more organisations essentially combine all of their resources to become a larger and more competitive business, but retain their individual company status.

Due to the level of web page optimisation that can be gained through linking to good websites, online strategic alliances are becoming more and more common and are recommended by PlannedSites.  The more good links that you can gain which are in line with Google guidelines, the better your page will become optimised and the higher you will appear in Google listings.  Aside from reciprocating links, in the online arena there may also be an opportunity to trade certain products or services, or client lists.

Many hands may make light work, but be cautious, DON'T under any circumstances, ever, link your website to a SPAM site.  Google will consider your page to be SPAM as well, virtually eliminating your online presence.  This also goes for any company that you may enter into a venture with, check them out first and ensure that they are legitimate.