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Keep Customers Close and
Competition Even Closer!
by Larry Dotson
May 4, 2002
It's no secret that you should
keep your customers
close. But, you may not have heard that you should keep your
competition even closer. You may have heard you should legally
spy on your competition, but that's different than keeping them
close.
You're likely thinking why
should I do such a thing?
Because that's the best way to know what they're up to. You need
to stay on top of things so your business doesn't get left behind.
How do you keep your competition
even closer? Create joint venture deals with them. You're saying,
WHAT?! Yes, you read it right. There are many joint venture deals
that you can do where it doesn't matter that you're in competition
with the other business.
Here are a few:
Develop or create a neutral
product together. For
example, co-author an ebook together and split the
profits.
Team up to bring down your
biggest competition. Share valuable information with each other.
Cut costs buy sharing equipment and skills. Use the extra money
to run co-op ads. This won't work if they are your biggest competition.
Sponsor an event together.
You would be able to split the costs and both save money. You
both would be able to get the word out about your businesses.
Promote each others products
that are related but don't create a competition. Just bundle
them in a package deal and split the profits.
Create a viral freebie together.
You both could run ads in the freebie. A free ebook, for example.
You could allow other people to give it away. The best business
ad wins the most sales.
There are also disadvantages
to these joint venture
deals. They may find out important information about your business
that you don't want them to know, but the same thing could happen
to them.
In the long run, you may end
up becoming friends and partners by developing this relationship.
You may even combine your businesses.
The Joint Venture Marketing
Directory! Find tons of
online businesses, web masters and e-zine publishers
that want to joint venture and barter with you! Visit:
http://www.ldpublishing.com
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