Utilizing joint ventures in small business is fast becoming a popular method of advertising and in some cases is the only method of advertising some businesses participate in.

What is Joint Venture

What exactly is a joint venture you may be asking? Joint ventures (JVs) are like partners or affiliates that share the same target market and are typically used in cross promotion.

How To Use Joint Ventures

Following are five examples of how you can use JVs to double your exposure and double your profits:

1. Advertising

There are three of ways to use JVs in advertising. One is to provide your ad for placement into a JV's newsletter, website, email blast or to display at a store front. This is particularly beneficial if the joint venture has the same target audience as you do and sell a product or service that is supplemental to yours. You would then opt to display your joint venture ad in your newsletter, website, email blast or store front in exchange.

Another method of partnering with a JV in advertising is to give them a percentage of sales on traffic they bring your way. For instance, let's say that you are selling an eBook. Your JV may take your advertisement of the eBook (with a link imbedded in it that takes visitors to a special eBook webpage) and incorporate it into their newsletter, website, or email blast. For every person they bring to you that buys your eBook, you give them a percentage of book sales. This allows you to double or even triple the amount of exposure, depending on the quality of contacts your JV holds.

The third method of using a JV is to partner together on an ad and split costs. I've seen this take place recently with three individual businesses who specialized in three different pet services (grooming, pet sitting, and discounted pet food). Together they purchased ad space on multiple buys to offer a one stop service to potential customers.

2. Article Trading

JV's are great to use for trading content. When creating a newsletter, web content or an eBook, it is often easier to enlist outside help to give your product some "meat" in exchange for directing traffic to your JV's website with the use of their article. Of course, this works both ways if your goal is to drive traffic to your website or to build a contact list. You can submit your articles to a JV who in turn will give your article additional exposure by utilizing their contact list.

3. Events

JVs are also great to partner with when hosting an event. Whether that event is a teleseminar, webcast, workshop or seminar, JVs can offer additional exposure by advertising to their contact list, website, email blast or store front in exchange for either advertising a JV event or giving them a percentage of profits for every person they bring to you.

Like advertising, you can also partner with a JV and host an event together, allowing you to split costs and double the exposure of the event.

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