Refer and Resell: Make Money with the New 10x Marketing Partner Programs

The following is a question and answer session, conducted on February 1, 2006 with Curt Porritt, president of 10x Marketing. The discussion topic for this interview is the (create page for 10x website) “10x Marketing Partnership Program,” which is designed to provide partnership and referral opportunities for both large and small businesses.

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Q: What are the 10x Marketing Partnership Programs?

A: Our partnership programs provide a way for our strategic partners to increase their revenue with 10x Marketing’s rapidly growing Internet Marketing business. Effective Internet marketing services are extremely popular and are very synergistic with the services of other businesses such as those services offered by advertising firms, PR firms, localization service providers, web development companies, etc. We’ve found that our target customers are very similar and that our combined services create more value for these customers when offered together versus separately. The benefits of the Refer and Resell Partnership Programs for both 10x and our partners include increased sales, higher customer retention, and more up-sell opportunities. These strategic relationships create a win-win-win scenario for our partners, for 10x, and for our combined clients.

Q: How many partner programs are available?

A: Currently we have two programs: a referral program and a reseller program. Companies who choose to participate in the referral program will qualify for a commission for every new client referred to 10x Marketing, or a discount on 10x services for their own company. Those who choose to participate in the reseller program will receive reduced pricing on Internet Marketing service packages and for every five clients that they ‘resell’ they’ll receive additional cash bonuses. Partners that participate in either program do not have to know any detailed information about Internet marketing. We support them with our internal experts and industry information. It really works very well.

Q: How does 10x Marketing define a ‘referral’?

A: A referral is a recommended contact who becomes a client of 10x Marketing. Generally we require that a personal introduction of some kind be made in order to qualify as a referred lead.

Q: Could you explain some of the specifics of the Referral Program?

A: The referral program allows businesses to introduce their clients and associates to 10x Marketing’s services. Usually these arrangements involve mutual referral programs that allow us to refer potential clients to our partners as well. When 10x is on the receiving end and the referral becomes a 10x client, the referring partner receives 20% of the first month’s revenue generated from that client. For instance, our most popular package, the iMAP, costs about $5,000 per month. If a partner refers a client to us and that client purchases an iMAP, then the business that extended the referral would receive $1,000.

OR, the company can choose to receive 5% off¹ 10x Marketing’s services for their own Internet marketing campaign. For the second referral they can receive an additional 10% off, for the third, 10% more, etc.²

(Potential monthly and annual savings projections for the referral program are shown in the chart below)

While the monetary rewards are a nice perk, we’ve found that most of our partners value the programs more for the enhanced relationship it brings to their customers than for the monetary rewards alone. The real value of these strategic partnerships comes in the ability to offer synergistic services that provide more value to the client. It makes it much easier to sell new services, up-sell to existing clients, and improve overall customer retention.

Q: Can you tell us more about the Reseller program?

A: The reseller program is for companies who are somewhat experienced with Internet Marketing, but cannot provide all of the services that 10x Marketing provides. For this reason, they resell 10x’s services in order to attract new customers for their own business or enhance their relationship with existing customers. In addition to enhancing their offerings to their customers, the resellers also receive a 5% discount on 10x Marketing services that they can either pass on to their customers or keep themselves. Each reseller also receives a one time payment of $1,000 for every 5 clients that are ‘resold’ to 10x Marketing within a one year period.

(Potential monthly and annual savings projections for the reseller program are shown in the chart below)

(Assume $5,000 per month contract value)

Q. In your opinion, what is the biggest advantage of these programs to a 10x partner?

A. While some partners will focus on the additional revenue generated from commissions and discounts, the real value comes in each company’s ability to leverage the combined services to increase overall business. If executed properly, the biggest advantages of the program are 1) the acquisition of new customers due to combined offerings, 2) the enhanced relationships with existing customers who want to be introduced to solid services by someone they already know and trust, and 3) the ability to up-sell additional services because the complimentary services tend to feed off of each other in positive ways. The greatest value is realized by combining the offerings of both companies so that 2 + 2 = 5.

Questions?
If you have questions in regards to the 10x Marketing Referral and Reseller programs, please feel free to contact 10x Marketing.