How to Set Up JVs and Share the Wealth - and Pay Reps too
Contacting businesses that themselves have businesses for clients can be quite a gate opener for us if they introduce us somehow to their clients. And our sales reps can actually target these businesses to be our JVs and not only find clients one by one. How would you guys go about it?
Here's an example of pricing and JV/commission payout I had thought about.
I'll use a $400 Product as an example. The JVs get to offer a $100 Unique Coupon just for their customers so actual sales price is $300 (plus monthly service fees).
They get $150 per sale (even $200 if we find that JV ourselves and not our reps); $100 per sale to the sales rep who got the JV. Both can be happy if there are multiple sales. Imagine 10 sales would equal $1000 for the rep with the work coming only in getting a JV, and not making a sale in itself.
So we're left with $50-100 per set up… and make all recurring income afterward, and get new clients to make further sales too, get referrals, etc. Not bad at all!
Of course if the JV partner has a product/service that complements us well, we can offer it to our clients for a cut.
What's your approach when you set it up?
I had thought of
#1 We pre-write emails/scripts for the JVs that they can send out to their contacts to warm them before WE call them (we obviously must get their contact info from the JVs)
#2 We pre-write emails for them they can send out to their contacts and they don't share their contacts. Ideally they call their client base about our offer, and offer our service as an upsell actively in their day-to-day operation when it fits.
Any other way? I know as a business owner I'd choose #2 myself. I wouldn't want to share my client base. But some businesses might not mind if we call their clients and say we were referred by them, even more so if they have "pre-warmed" them by email first.
Any input appreciated.
Here's an example of pricing and JV/commission payout I had thought about.
I'll use a $400 Product as an example. The JVs get to offer a $100 Unique Coupon just for their customers so actual sales price is $300 (plus monthly service fees).
They get $150 per sale (even $200 if we find that JV ourselves and not our reps); $100 per sale to the sales rep who got the JV. Both can be happy if there are multiple sales. Imagine 10 sales would equal $1000 for the rep with the work coming only in getting a JV, and not making a sale in itself.
So we're left with $50-100 per set up… and make all recurring income afterward, and get new clients to make further sales too, get referrals, etc. Not bad at all!
Of course if the JV partner has a product/service that complements us well, we can offer it to our clients for a cut.
What's your approach when you set it up?
I had thought of
#1 We pre-write emails/scripts for the JVs that they can send out to their contacts to warm them before WE call them (we obviously must get their contact info from the JVs)
#2 We pre-write emails for them they can send out to their contacts and they don't share their contacts. Ideally they call their client base about our offer, and offer our service as an upsell actively in their day-to-day operation when it fits.
Any other way? I know as a business owner I'd choose #2 myself. I wouldn't want to share my client base. But some businesses might not mind if we call their clients and say we were referred by them, even more so if they have "pre-warmed" them by email first.
Any input appreciated.