When setting up these endorsements it is best to speak in person. You can follow up with a phone after your joint venture introduction letter (see the example) has gone out or wait for their call.
What if they still don’t want to do it just for the goodwill? Depending on how valuable you think their customer list will be, you have several more options to try.
1. Offer to contribute to their favorite charity, maybe $100 or $200.
2. Pay them cash for using their list.
The going rate for list rental is usually about $25 to $100 per thousand depending on how valuable the names are
3. Offer to reciprocate
You can offer to do a mailing to your customer list that endorses them.
Or put their flyer in as an insert in your newsletter
4. Barter your services
You have an excellent opportunity to exchange your services for whatever you want.
It makes your endorser more credible because they (or their spouse) has used your services and now can talk about it first hand in the endorsement letter (see the sample).
Option 2: You are offering a discount or special deal on your product or service to customers of your endorser.
In this instance, you’ll want to offer the endorser a piece of the action. Then, aside from the previous points you’ll want to cover – you also need to cover: Accounting!
If you’re offering the endorser a profit share then it’s critical to assure them of a fool-proof way to track the business originating from them. The way I’ve done it with my own Joint Venture deals is to have the endorser have all orders come in to them. Then once the orders are in – they’ll send it to me for fulfillment.
That way everyone has a record of the order and an accurate count.