SFM Ep 32: Multiplying Your Revenue With Strategic Alliances

In episode 32, we’ll discuss the power of strategic alliances. This is a hugely underestimated strategy that has made me A LOT of money over the past few years. However most people are going about them completely wrong, which is why they don’t get good results.

In this episode we’ll discuss…

  • Why you’re doing a disservice to your audience if you aren’t doing strategic alliances…
  • How to write an effective pitch for finding strategic alliance partners…
  • How to do a strategic alliance with ME (or get me to create a strategic alliances sales funnel for you)

And SO much more!

Listen To The Podcast

Want To Work With Me?

Visit http://www.JeremyReeves.com or email me at [email protected]

Enjoy!

Transcript:

Hey everybody, this is Jeremy Reeves here again for another episode of the sales funnel mastery podcast and today, we are going to talk about strategic alliances and joint ventures partnering with people who can send clients or customers to you and it is how to basically create kind of win, win, win for the person sending it to you or win for you and also a big, big win for the people that you are helping, right?

A lot of people talk about affiliate relationships and doing affiliate programs, you know, a lot of people that have information products.  Having in affiliate program is the one of the things that you do because it is kind of an easy way to increase your revenue and that kind of things.  So, that is we’re kind of all people do but that concept kind of gets lost with people in the service industry or basically outside the information marketing industry.  A lot of times, well, specifically, it gets lost when you are talking about online.  People who primarily have never own a brick-and-mortar type of business.

They primarily own a service that is online based and that kind of thing and it is funny because if you work offline and one of the things that I am particularly good at is taking concepts from other industries and bringing in them to new industries.

So, one of the things that I am really been looking at over the past, I don’t know, a year or so is basically taking that principle a lot of people do strategic alliances offline but not many people do it online and also the same thing looking at that affiliate marketing and doing the same thing but with services, right.

That is what we are going to talk about today and what are the big mistakes is that people think that if they tell somebody else about another service, that it is kind of come across, kind of like pushy and you are just doing it to get a commission and that kind of thing and you know, it is a legitimate concern but it’s only the way that you right a copy.  It’s only the way that you position the reason why you are getting in touch with that person.

So, let me give an example.  Some people, well pretty much everybody, say you watch a movie or you go to a new restaurant or you buy a new car or you try really any kind of service.  Now, think about this, again it is coming back to offline brick-and-mortar kind of businesses, you know, movies, cars, restaurants, that kind of thing.  Even somebody like an electrician or mechanic, if somebody does a good job that makes you happy, you tell people about it, you know free.

Like you just say, “Hey, you know I just saw this movie and it is awesome.  You should go and see it.” “Hey, I just tried this new mechanic” or somebody says “Hey, do you know a mechanic?” and then you say, “Oh yeah, you know you should try Tom.  He is really honest and he does a good work and he gets the car back fast.”  Blah, blah, blah.  So, you sell that person.  So, it helps in that particular case.  I want you think of this as a triple win.

In that case, let’s just say the mechanic for example.  The mechanic wins because you are potentially sending them a new client.  You win, as the person telling your friend about the mechanic, because you know that your friend is now going to go to a place.  It is kind of like the satisfaction of helping them.  We all like to help people, 3:51 at least.  So, you get the satisfaction of telling them about that really cool other place, the new service that is going to help them and the customer, the person that you are telling, also wins because now they have someone that they can go to and they are reliable and trustworthy and that kind of thing.

So, that is when you are doing strategic alliances that is how you want to look at it. You want to look at it like how do I articulate this, how do I position it and frame it as a win, win, win for everybody.  So, for example, a lady came to me recently and she sells rugs, okay? So, she came to me and she wants a funnel set up right for basically going out to interior designers because that is basically someone who is in — well the interior designers are also serving the people that this client of mine or future client of mine serves, right? So, she is going and when you are looking it and she want to think who else is serving the people that I serve or who else benefits if I get a new client or my customers.  What other problems that they have that other people are solving? So, then you just make a list of people like that.

So, for example, for me, my list is website designers, people who are doing things like ontraport setup like you know the implementation of emails and things like that setting out all the rules; infusionsoft set up; HubSpots set up; and that kind of thing; people doing paid traffic, google adWords, facebook, SEO people, people doing search engine optimization; that kind of things. So, there is a lot of different things that my clients also need.  They are buying traffic, they are getting SEO, they are getting press releases, they get their books written, and all these different things.

So, I go out and I reach out to these people and basically, what I am doing is saying, “Hey, you know, if you already have an audience of the same people that I am trying to reach but for a different service, okay, why don’t we do a little strategic alliance and you win because I will give you a commission for anybody that you send to me, okay?”  The client wins because they are getting a service from somebody that they, let’s just say, I partner with Tom, right.  Tom is referring, let’s just say, Jane, okay?  So, Tom refers Jane.  Tom wins because he gets a commission from me.  Jane wins because she gets a funnel done from someone who is trusted and can actually do good work and I win because I have a new client, okay?

So, it is such a win, win, win.  It is basically a no brainier to do situation like that. What you have to figure out is what kind of commission you can afford to give away and that kind of thing.  So, the concept is basically that.  You go out and you find people that are also serving your clients but in a noncompeting way and you can also do this with like for example, I have services for people who cannot afford me, I have other copywriters that I refer them to who are less expensive than me. They are not as experienced, they do not have the results, you know that kind of thing.

So, they are charging less because of that but there is a market for everybody because some people, a lot of people that are coming to me, I quote them or whatever or I talked to them before I even have to quote them and we figured out that we just are not going to be a good fit because they are a little bit earlier in the game.  They do not have the cash flow, they do not have the revenue to really justify spending the money on my fees.  Okay?  So, I refer them to other copywriters.

So, that is actually a direct competitor and it just adds a nice little revenue stream to my business and again, it is a win, win, win because I could not help that person, okay, so I find them someone who does and I get a small credit for that essentially and that person is happy because they came to me and I cannot help them, so that kind of sucks but I still can help them by referring them to someone else and then the other copywriter wins because they are getting a new client. They get a little bit more experience, that kind of thing.

So, that is how you want to frame these.  So step 1 is basically and this is mostly for service business but it is also for information products in the way that you express the idea to the potential affiliate partners, okay.  So, that is what we are looking at here.

Step 1 – Basically, writing down a list of people that also serve the people you serve, but they do so in a noncompeting way, alright?

What you do is you reach out to them and basically pitch them on the idea,  “Hey, you know, I just want to let you know that I love what you are doing” and obviously, only do this, by the way, with high quality people so you do not want to be partnering around with like, kind of people who are doing like kind of shoddy projects.  These should be someone that the higher up people in your industry. Basically, they should match whatever level you are on.  So, if you are really a high performer, if you are kind of in the higher end range of your market place.

You want to match up to people who are on the higher end marketing range.

So, for me for example, I am kind of in the higher end, I do not want to match up with designers that are targeting the lower end.  Number 1, because I do not really want to associate with that type of person.  Again, everybody has their place.  So, that is fine.  It is nothing about the quality of the work or anything like that.  It is just we are catering to different people with different budgets and different purposes for getting their funnels done and all that kind of stuff.

So, step 1, find the people.

Step 2 – Pitch them on the idea and basically what you want to say, you want just explain the win, win, win situation.  You want to say, “Hey, I love what you are doing.  You know, I want to talk to you about something.  I have this thing that I do with people like yourself who, you know, we serve the same people but, you know, in a noncompeting way and basically we just team up and we, you know, refer people to each other and give each other a commission.  You know, do you want to try to thought about it?”

When you find these people, you send them a message, you wait for them to write back.  Then, now what you do, for example for me, I actually just got done that is why I am procuring this podcast, I actually just got done writing emails for my joint ventures partners.  So like what I have for example and I am actually might kind of productize this service and do it for other people because it is extremely, extremely effective.  If you are in a service based industry or if you provide a service, get in touch, and we can talk about prices to do this for you.  I write all the copy, all the different things.

For example, you need a script to going out to potential joint venture partners; you also need some type of document that outlines what you do, who you are, who you help, results you got and that kind of thing.  So, it is kind of puts all your whole, like essentially a sales letter selling you — and that is for your joint venture partners to give potential clients.  Then you also want to do an email, one warm email and one cold email.  So, the cold email is for your joint venture partners because you want to make this super, super easy for them.  One email that is cold and it is basically for their lists.  Let’s just say that I came across a really awesome web designer, okay.  He would give me an email that talks about why people need really good web design and then like what makes them different.

So, it is kind of like I am not going to do the whole email 11:47 of my head.  It is kind of something like,  “Hey, I just want to let you know that I found this really awesome web designer and he guarantees to increase your conversions by 20% through better web design because it allows your visitors to read it, increases its readability and we do split testing and blah, blah, blah.

So again, you just kind of telling your audience that you found this really cool person, you trust them with your life or with your marketing, at least and to get in touch with them.  You also want to do a warm email and that is the people who you are going out to individually.  So let’s just say that I have a client who is getting a sales funnel and they say,  “How about web design, can you help with that?” and for me, specifically, I have my own designer that I do for client so I do not have to refer out but if I did, then I would just say, “Oh yeah, I know this really good web designer and you know, I recommend that you use him” and just get a small commission for the referral.

It is nothing, some people kind of think, “You know you are only doing it because you get a referral” and no, you are referring people anyway.  So, there is no reason in not getting paid for that.  There is no reason for it.  It adds a nice little revenue stream and it is just a nice little addition to whatever that you already doing.  It just adds a new income stream, maybe it is 500 bucks a month or maybe 1000 bucks a month, whatever it is.  It is extra spending money.  The worst case, use that money and just buy yourself something nice every time you get a commission.  I literally this morning just sent out an $1800 referral payment to somebody who referred me to a new client and that was one of 4 that he is getting.  He is getting a total of $7200, I think that comes out today.

For referral that is basically was just an email, that he sent out and I wrote the email for him.  So, it is really for him but it helps me too because I got a really, really good client and then it also helps that client because they were hooked up with somebody that they didn’t know before.  They didn’t know of me before that and this guy referred them to me and now we are doing a big project together and I just handed in a piece of the copy and they actually loved it and that kind of thing.  So, it helps everybody and it is just a fantastic addition that you can do to your marketing.

So, that is pretty much it.  There is a little bit more than that but that is pretty much like the basic principle on everything.  So, if you are a service provider or you provide any kind of service, I have 2 things for you.  Number 1, is do this. Okay? That is kind of the big thing.  Number 2, actually 3 things.  Number 1, just do this regardless.  Number 2 is if you want me to actually do this for you, and basically write everything for you, show you exactly how to find people, show you exactly how to express the idea to people because that is going to be the big thing here, you have to really basically have a good copywriting.  You have to show them why its in it for them.  So if you want to talk about me doing this for you, just shoot me an email at jeremyreeves.com.  The link would be in a shown offs, just go to [email protected] and use the contact me button, whatever you are going to do.  That is one thing.  We can talk about pricing and all that.

The second thing is if you are servicing entrepreneurs like my clients are obviously entrepreneurs looking for sales funnels.  So if you are also serving sales funnels then also get in touch with me and we can actually talk about doing a strategic alliance together and setting up one of these for between us.  Depending on what you do because I already have some people that I referred to, so maybe it is just like I just talk to someone who sets up membership sites so I don’t have anybody all ready that I am talking to who does that.  So anybody who needs a membership site, I will refer them to that person.  But other things, like I have a couple of traffic people and things like that but we can talk about that.

Either it is one way or reciprocal or whatever it is but either way, it is an extra revenue stream.  It helps you, it helps me, and it helps the client and that is what I am all about as you probably know is win, win for everybody.  I do not think anything should ever redone where only 1 people or 1 person wins.  It should always be a situation where I win, you win, and the customer wins and I would never ever, ever, ever, ever in my life do anything that kind of hurts the trio if you will.

So that’s it.  If you would like for me to do this for you, to actually create everything for you and show you my exact process for doing this, I would love to do that and we can talk about it.  Just shoot me an email, [email protected]  Also, if you serve entrepreneurs or you have some type of access to them, then I would also like to talk to you about it and we can talk about doing a joint venture together, we actually do this for each other, okay? So, that’s it for today.  I hope you enjoyed it and I will talk to you soon.

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