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How to 10x Your Revenue Through Channel Partners

The Soulful Entrepreneur #010

Hey đź‘‹ - Matt here.

Want to grow your revenue without hiring tons of salespeople?

Create strong channel partners.

Here's the playbook to 10x your revenue.

Today’s issue takes about 2 minutes to read.

Enjoy.

What’s a channel partner?

A channel partner is a company that sells and distributes your product for you.

Channel partners include:

  • Colleges

  • Retailers

  • Agencies

  • Resellers

  • Influencers

  • Distributors

  • Universities

  • SEO agencies

  • Branding firms

  • Affiliate partners

Here is how to create valuable sales channel partner relationships:

1. Create an outreach snippet to DM specific people and companies via Twitter, IG, and email

Here is an example:

My name is Matt and I run Herb - the world’s largest community in the cannabis industry.

I’d love to chat with you and see how we can collaborate. Herb has over 14 million consumers in our community and we push 3 billion video views a year. 

What date/time/number is best to reach you at and I'll send a calendar invite? Thanks.

Pro tip: Save your snippet in TextExpander so you can easily send this to 10 people in 60 seconds.

Save. Send. Sell.

2. Create an outreach list

Here is an example outreach list I created using Google Sheets:

Create yours today.

In just a few clicks you can build a powerful revenue engine.

3. Find emails, Twitter handles, and Instagram handles for everyone on the list

I go to each contact in the outreach list and find their email, Twitter handle, and Instagram profile.

To find emails easily use Seamless.ai.

It's magical.

I drive millions in annual revenue leveraging Seamless.ai.

One tool.

Millions of emails.

Unlimited potential.

4. Send the outreach snippet to the founder/CEO on Twitter and email + the company via Twitter and Instagram

I send a message to each contact on the outreach list via email, Instagram, and Twitter.

It guarantees my odds of getting a response.

I do whatever it takes to get on a call and close a deal.

5. Choose a structure for the channel sales partnership

An example starting point is 12% of revenue for the first 6 months for any customers the channel partner closes for you.

Edit according to your financial model.

This is a rough guideline to help you get started.

6. Get on a call, tell your story, and close the partnership

Start with your why. 

Get them excited to work with you.

Make sure the channel partner is armed with clear, concise, and impactful sales enablement documents and testimonials so they can send you hot leads.

7. Be crystal clear on your sales process

I get channel partners to send hot leads to our salespeople to close at Herb.

I don’t need the channel partner to close the deals. My sales squad are weapons. 

Do what’s right for your business.

If you have a low-cost product it likely makes sense for the channel partner to close the deal for you and you make money while you sleep.

8. Track customers that come from different channel partners

Use a unique code or offer to track which channel partners are driving you the most revenue.

9. Build deep relationships with your best partners

Take them to dinner. 

Invite them to a basketball game.

Give them a surprise gift or extra cash.

Make them feel valued and you win.

10. Communicate with your partners at least once a month

Consider adding all your channel partners to an email list.

Email them once a month. 

Hop on calls with your best partners.

Keep them updated on what’s new and exciting at your brand.

Keep them motivated. Ensure they have everything they need to sell your product and help you scale your revenue.

That’s it.

Now go do it.

If you enjoyed this newsletter please forward it to one person you think would benefit from it. 

My mission is to inspire 1 million entrepreneurs to live their dreams.

See you again next week.

Much love ❤️

P.S. I’m launching a live course on June 7th to help entrepreneurs build a scalable marketing engine and grow to $5M annual revenue.

P.P.S. Find me on LinkedIn and Twitter. Say hi đź¤