We get asked a lot about what our joint venture marketing is and how we put one together. So here is brief summary.
First, we learn as much as we can about your company, its current status, the people behind it, what your goals are and have the key members complete a SWOT analysis (Strengths, Weaknesses, Opportunities and Threats). After our review, if we determine that there is a place where we can provide some assistance and fill in some blanks and that there is some compatability between the people involved we will structure an agreement that basically says we will perform certain marketing and business development services for our costs and not earn a profit until the venture is successful. Sometimes this includes some equity ownership or delayed payments with a bonus for the risks we are taking. Each agreement is custom designed to fit the situation.
One example is the latest joint venture we have taken on called "Remembering You" which is a start-up app development company. We are providing all the business development services including a website, Facebook, Kickstarter campaign, product review and enhancements, marketing, PR and advertising for
our cost. We will receive delayed payments for our contributions when the company reaches certain cash flow milestones, an equity kicker and a seat on the board. Go to: www.rememberingyou.us Check this venture out which is only a few months old. Go to the web site and click on the Facebook and Kickstarter campaign buttons.
Most ad agencies will not take a chance on their work which is the primary benefit of working on a joint venture basis. In addition, the relationship that develops between our company and our partners is much different than the normal client / agency relationship. We're both on the same side with the common goal of making things work and achieving success. There is no reason for us to suggest strategies and promotions that we don't believe is the best for the company and not ones where we would normally earn a commission with no regard for the outcome. That's the primary benefit to our partners.
If you think your company is a candidate for a marketing joint venture send us a message with some information about your company and we'll be happy to begin a conversation.