Newbie need some advice on commission structure

Hi Everyone. I have recently found out about this place and I would say that this is a very nice place.

I'm new to this JV stuff so I would like to kindly ask for your advice.

I'm launching a product on the June 12th (this is my first product) the product will be sold at $397. And this is how I offer commission for JV partners:
70% first-tier and 10% second-tier.

Do you guys think that this commission structure is attractive enough? Should I make any changes?

For some reason I just can't seem to attract any JV partners at all.

Thanks in advance for your help

Jaratvit

Hi Jaratvit,

First of all welcome to the forum :)

I would say that the commission structure seems very reasonable - especially given the high ticket price, 70% is going to be an attractive amount per sale.

However, one of the more important issues is also going to be the conversion rates...

If you can show people the product converts, then you are going to find it much easier to get people on board.

One thing I tend to look at with different products is the $/click - if you can work that out based on your conversions then it may be more attractive to potential partners.

Have you done much testing yet to get some early figures? If so you should definitely use these when contacting people (if they are positive).

If not, I would recommend trying to get some hard numbers to show people.

Hope this helps!

Richard

Thanks a lot for the advice Richard.

I do have the test statistics but it is buried deep in the JV proposal letter.

I'm gonna fix that and make sure that the stat is easily seen.


Thanks again,

Jaratvit

I think a lot comes down to who you know already.

Do you know anyone who can help you get jv's
on board.

Sometimes it is difficult if the JV's in your niche have
never heard of you.

Can someone vouch for you?

If you use a copy writer that has a proven
track record it will motivate more people to get on board.

Craig

Thanks for the advice Craig.

That can potentially be a problem since I don't know many people in the niche.

You have a good point about a copy writer there.

What If I use some of the big name's material for my launch ? Is it appropriate to mention that?

Thanks,

Jaratvit

I am not sure if I understand.

Big name?

jaratvit

If you had a big name copywriter do your copy then that is a great selling point. But I don't think hte problem of getting JV's on board has much to do with the payout and more to do with who you know. But we all start somewhere and even if you don't have a lot of people on board go ahead and launch it. This will help build your circle of friends and this will get you more and more JV as time goes on.

Thanks
Charles Kirkland

Great advice Charles.

Thanks

Jaratvit

Hi Jaratvit,

How are you going about trying to get JV partner's on board? Are you only emailing them a letter? Perhaps you need to try talking to them on the phone or sending them something in the mail if you haven't tried that yet to get people's attention and introduce yourself to them.

Jennifer

Hi Jaratvit,
I am also getting ready for my first launch. I come to the IM world with plenty of experience as a Management Consultant, but zero recognition in the IM world. What I did/am doing was to send a letter to potential partners detailing my product and its bona fides, and then asking them to do an interview. I had purchased materials from all of them so that helped with the introduction.

Since I have no recognition or list, I knew I needed to use the "reflected recognition" of established IMers.

After I did the interviews (by the way, I got 10 well-respected folks to do an interview) and we had at least some semblance of a relationship, I asked if they would like to JV with me. I have positive responses from about half so far.

The point is, you need to start early and be prepared to have patience as these folks are busy and much sought after.

I also wrote the base copy for my salesletter and will have a pro look at it for final tweaking. That is a way to save some money as they do not have to start from scratch.

I also realize that there is a lot I do not know about this process, so I "hired" a couple of partners to help me through the technical and structural aspects of a complex launch.

If you want their contact info, please PM me and I will send it along.

Good Luck,
Jim

Maybe you could do something in the future to stand out from the crowd when looking for other JV's - send a small gift in the mail, an online video directly to that person, or just something different that most people wouldn't take the time to do.

Just a thought,

Debbie