Inc
Psychology of Joint Venture Marketing
Psychology plays an important role in most consumer purchases, and the psychological effect of a joint venture marketing platform is no exception to this rule. Psychology is at play subconsciously in so many areas of our lives. Have you ever noticed how most supermarkets are organized in the same way? There is a floor plan for how to run a successful supermarket, down to the optimal lighting and the temperature at which the supermarket should be kept to maximize consumer purchases.
When you are in a supermarket, and looking for a specific product, it may seem that products are organized somewhat haphazardly, but this is not the case. Products are organized to inspire you to purchase items that you did not intend on purchasing when entering the store. The last minute checkout line purchases are the best example of this: how many of us have picked up a magazine, gift card, candy bar or pack of gum we didn’t really need, simply because we were standing in line and those products were there. This is consumer psychology at work at its best.
Consumer Psychology at Work in Joint Venture Marketing
You may be thinking, that makes sense, it sounds easy enough to capitalize on consumer psychology when you have customers walking through the door, but I have an online business, not the same thing at all! True, with your online business, you don’t have the benefit of customers walking through your doors, but you have something that when used to your advantage can be even better: you can go to your customers, reach them at home or on the road via emails – increasing access to your clients to a point where you don’t have to wait for them to come to you!
America was built on creating opportunities, and most Americans appreciate businesses that take initiative and create opportunities: it is the American way. But there is a fine line between creating opportunities and being invasive to your clients. Americans are also busier than ever in their lives, so bombarding them with countless emails and solicitations that convey the same message will most likely serve to alienate potential clients, rather than gain them. These are aspects of psychology of which it is important to be aware when running your online business.
Creating “Friendly” Marketing
A joint venture marketing partnership can help bridge the gap between effective marketing and invasive marketing, helping you gain the right balance to assertively attract new customers without being overbearing.
With a joint venture marketing partnership, you can piggyback with your partners on marketing tactics, such as customer email alerts and newsletters. With the joint forces of your marketing partnerships behind you, you can capitalize on the principles of consumer psychology and reach multiple customers on various levels without making them feel overwhelmed. If for instance, a certain customer buys from both you and one of your joint venture partners, you can attach advertisements or reminders to a “thank you for your purchase email” and remind your clients of your appreciation for their business without being invasive by sending unnecessary correspondence.
Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing & Consulting firm empowering business owners to discover and implement Integration, Alliance, and Joint Venture marketing tactics to solve specific business challenges and increase profits. To read more articles related to Joint Venture Marketing, please go to his Joint Venture Blog Site. He can be reached at christian@synertegic.com
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