If you think about your business is growing, what untapped markets just itching to open up? The prospect seems that reaching untapped market segment just out of reach?
Instead of the Lone Ranger approach to business and trying to reach, such as considering other company that you know who currently reach these markets this market on your own? Reinvent rather than the wheel, look at whether or not this could be an opportunity for a joint venture marketing project.
If another company to similar but not identical matches and serve sense this strategy big business. In a part of the market have fallen not tap and also a relationship with a part of the market, you don't have. Share your market resources in a joint venture agreement, can both to promote your will remain to a wider market and to your existing customers, companies, while bringing these value-added information, products and/or services. You will receive your joint venture partner gains and both customer loyalty in your customer base. How much better can it get?
Take a look at a real life situation of joint venture. A small construction company noticed that you have been getting often called refactor and disasters by unscrupulous contractors fixed construction. She got the idea that may be there is a market for construction and renovation, consulting for do-it-yourself, Modelers and normal home and homeowners.
The consulting service would offer outside opinion that were on the protection of clients that are considering a renovation or construction project by a clear idea of normal cost, ordinary language contract, and outline possible problems that they have not considered before you would have entered the project. The most likely candidates for their services would be instead of trying only to market your existing database as if it was you who.
It was decided to approach that would you people, who often funding made available for renovation and construction projects ~ bankers and mortgage brokers. The broker loved the idea of being able to reference a service for your customers, which would help to protect of their interests in the long term. In return, the brokers could open up to offer the construction of the database company and financing options. Both parties were now offer a value added service to your customers and previously untapped markets. A few of the brokers arrange joint advertising in some real estate publications. Both the contractor and the broker share the cost of the display while you reach a wider market as one of you could afford to reach on your own. That's the point of a major joint venture. Not only maximize your resources and maximize your growth as well.
Take a look who is reaching a market you want to achieve. It would be an effective way for you to joint venture and increase visibility in the market for both of you? If so, it can be a cup of coffee and brainstorm good value.
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