Hi,

It's a case where you have to compare the two options. I would start with the clarifying questions:

1. What is the specific objective in $ that we are trying to achieve - is it Revenues or ROI or something else? What is the time frame?
2. What is the product / products that we are selling and which products are targeting these options?

Then I would come up with the following structure:

1) Current marketing spend

• Out product
• Target audience and our message
• Current marketing mix and spend per channel
• Current ROI

2) Benefits of the two options

• Deal terms
• Projected number of the new users to be acquired
• Projected revenue per user
• Customer lifetime increase (Potential to increase the loyalty of the existing / new users and decrease churn) - ideally you can calculate LTV with these numbers, but they rarely ask to do that in cases
• Scalability and development potential. How we can increase the total pie of the dial? (very important for the blogger)

3) Costs of the two options

• Customer Acquisition Costs
• Upfront Investments
• Equity split for JV
• Allocated costs of the team

4) Risks and limitations

• Reputational and brand risks (mostly in case of blogger)
• Financial - related to Equity split
• Operational - in case of blogger you can't change the contractor
• Contingencies

Best!

(edited)