How do you not only make your customers happy, but keep them coming back for more? Well, for one, deliver on your promises. That’s always a good start. Two, make sure your prices are competitive and your product is of the highest quality. And three, refer them to other great businesses, especially those that compliment your own.
Why would you help another business by referring your customers to them? To build customer trust, loyalty and overall satisfaction, that’s why. And joint venture marketing allows you to do just that. By entering into a joint venture marketing agreement, you and your joint venture partner have the ability to not only cross-advertise, but more than double your business and build your lists while you’re at it. It sounds too good to be true, but it isn’t! What it really comes down to is building relationships, which is at the heart of every joint venture marketing partnership and simultaneously, the result of every effective, well executed one.
By building a strong relationship with your joint venture marketing partner, you are establishing trust amongst peers. Gaining the respect of other business owners is critical if you want to survive as a successful business owner yourself. In turn, those who respect and trust you will also want to be connected to you, will recommend you, and hopefully will want to do business with you. And if they want to do business with you, odds are, so will their customers. It’s kind of like an investment and the return is more customers.
Once you have entered into a joint venture marketing relationship, you can work together with your joint venture marketing partner to not only increase the satisfaction of your current and existing customers, but also work toward building each other’s business by sharing your lists and recommending each other’s products and/or services. You may even want to consider offering a joint special for "customers of business X only". In other words, your partner’s customers receive a discount when they purchase your product or service, and vice versa. This is not only a great incentive, but a tried and true tactic for successful joint venture marketing.
Once your customers see firsthand just how wonderful your recommendation is, their trust in you will instantly rise and your credibility will be further established, making it easier to keep these customers coming back. And that is another plus to joint venture marketing. The happier your customers are with you and the more satisfied they are with your recommendations, the more likely they are to give you repeat business. A happy customer is a return customer and customer satisfaction is the key to customer retention.
Again, joint venture marketing is all about building relationships and establishing trust. Once you gain the respect of your peers you can then commit to a joint venture with someone you believe and who believes in you. If you can do that, you will increase customer satisfaction and your business can and will be a success.
