Note: This is the second part of our interview with Brigitta. As a first time product creator, Brigitta shared her experience in developing, conceptualizing and launching our latest product, Video Sales Machine.
Click here if you missed the first part of this interview: Product Creation Q&A with Brigitta Ballai – Part 1.
Now that we learned how to come up and create a product to sell, we’ll continue the lesson by learning the “marketing” aspect of it. To be successful in this business, you’ve got to start on the right footing. Which means building a good relationship with JV’s, encouraging them to promote the product and extending a helping hand during launch. In case you’re wondering, JVs or “Joint Venture Partners” are people (also known as affiliates) who promote your product to their subscribers or list in exchange for a commission. Alternatively, you too can be a JV once an affiliate approaches you and ask you to promote their product to your subscribers.
In this article, Brigitta will answer the following questions:
- What’s the process of finding and teaming with 5-Figure JVs?
- Any tips on how to work with JVs?
- Contest requires paying $2,000 to JVs who sold the most. What if we get less sales than that money?
- Should we start with $7.00 at 100%?
Working with JVs and my first lesson …
Working with JVs was something new to me. And I realized a valuable lesson which I hope you’ll take to heart:
Engaging with JVs at an early stage is key for a successful launch.
The primary way to engage with affiliates is via Skype groups. You may start with 1 to 5 at the most. But in some cases, you may have about 300 people in a call. These Skype groups are semi-private; you need to wait for an invitation to join.
Skype groups are the primary channels to inform affiliates about upcoming launches. They’re perfect for networking and informal communication as well. With close to 300 people from all over the world chatting with you 24/7, being part of these Skype groups can be exhausting. But I don’t mind. It’s a great way to get to know the community.
Beside Skype groups, there are two main websites where you need to list your upcoming launches. These sites are: JVzoo and Launchsuite.net.
Teaming-up with JVs and listing your product
List your launch as soon as possible – ideally 4-5 weeks in advance. It will help you to stay focused and work hard against the launch date. Plus, it give JVs more time to prepare and put your launch into their calendar.
I recommend getting a big name when starting out. In our case, we featured Todd Gross in our video promo.
Besides traditional sales pages, you have to prepare a JV page where you inform the affiliates about your product’s main features. Ideally, you put a video on top of the page to increase attention. You also have to include a JV opt-in form where they sign up and get their affiliate link.
Keep in mind, most affiliates promote a couple of products per week. Therefore, you have to announce your launch 5-6 weeks ahead. Additionally, you have to make sure that your launch does not coincide with that of your top 5 affiliates. It is important to keep this information in mind as you do not want to lose customers who already spent their money on other affiliate’s product.
Give incentives to JVs …
You need to give incentives to affiliates by offering first, second and third prizes.
Based on my experience, you should not be worried if your sales get into negative after paying out these prizes – even with the industry standard $12/$57/$89 pricing structure.
It will definitely add a significant cost to your project. But, paying out JV prizes has shown a big difference on our JVZoo balance even after the 7.2 EPC and 700 sales in the three-day promotional period. You just have to include it on your budget forecast.
Do not be disappointed if only a few JVS are signing up to promote your product. With some experience, you will learn that only 20% of affiliates sell 80% of your product. This is the group you have to focus and engage.
Love your affiliates … Give something for FREE (even your profits!)
In order to win big name affiliates to your side, offer sales pages with exclusive bonuses for their list. Affiliates love the feeling of being special. Moreover, they love to provide unique bonuses to their list.
Make it easy for affiliates to join you by giving done-for-you sales pages and email swipe files. Moreover, run webinars for your affiliate’s customers as well.
And here’s a big secret: You can win JVs if you introduce a low-hanging fruit launch. Meaning, you offer a webinar presentation deck to cut their preparation time by almost half.
There were special cases where I gave an exclusive interview to affiliates to help them promote the product.
As you can see, there are many options to provide incentives to affiliates. You only have to find what works for each individual.
You might be thinking, “So, how about the commissions?. How much is enough?”
The widely accepted percentage is 50% for affiliates. But in some cases, it is advisable to increase the rate and give incentives to the best affiliates by offering a 60% commission.
If you are just starting out, I recommend that you give a 100% commission to JVs.
Yes, you heard it right.
Offering 100% provision to affiliates is a great way to kickstart your business.
More lessons from the trenches and final word
The launch ideally runs for 3 days.
Besides the main prizes on the JV page, you still have to come up with daily prize incentives for bestselling affiliates.
The first two hours of the launch is when you should expect the highest sale. Because this is when everybody tries to take advantage of the early-bird prices.
Do not be disappointed if you haven’t heard from an affiliate after the first or second message. Remember, it is a tough, stressful business where everybody is busy trying to meet deadlines. So, just be consistent with follow-ups.
My top advice to you when starting out is to partner with an experienced affiliate. Remember, even topnotch affiliates love to have a break from product development. Just come up with a great product idea and pitch it to affiliates by offering review access and partnership.
You’d probably won’t make much money on your first few launches. But by shortening the development time and starting to promote other affiliate products, you should be able to reach your desired monthly income with affiliate marketing.
See you in the next article.