Selecting Your Internet Joint Venture Partners:
How To Create Your Area of Influence (AOI) in 30 Minutes or Less
Joint
ventures require you to set up a situation where both parties win. It’s easy
to say that, but building a joint venture requires an understanding of what the
partner wants.
Now
if this is a big partner, you have to know that these kind of deals take time,
because bigger partners are busy. The
instant hustle approach – can you turn this joint venture around in about 2
days – is silly for a real partner.
Big
partners do not have the time to move that quickly, and are making money.
Anyone who can move that quickly is either very small and agile, or more
likely has nothing to do.
It
is important that you evaluate a joint venture partner by their lack of time and
their ability to reach a bigger audience.
And
you must do this with a specific strategy that helps you evaluate whether they
can work with you, or should work with you.
After
all, you are trying to save money with a joint venture and create quick sales,
but the best things in business do not always happen quickly (although it is
great when they do, but rare).
In
a recent consultation with Mercedes Benz, an interesting term arose which is
central to Joint Venture Partner programs:
Area of Influence (AOI)
Mercedes
Benz laser focuses its effort on a geographic, local audience. They analyze the
local customer base and build their area of influence, their circle, those
customers most likely interested in buying them for a long time.
Mercedes
understands that their customers will likely be customers for life if they do
everything right. I wish everyone had that attitude. By creating the circles of
influence, they embrace the customer and invite them to become a long term
customer.
The client could describe his Mercedes owner by age, income, hobbies, related products they enjoyed, where they lived, where they vacationed, and all the other demographic components that lead to ...
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