This one is more geared towards ableton users, I learned it from watching Deadmau5 on Twitch. It's basically a really simple way to save a sound, midi, and audio while also including the effects chain.
Make a new folder called whatever you want (I like ableton clips) -> drag and drop the midi from the channel you want into the browser, this will create an .alc file which you can then use later to pull into any session you want. It saves everything tied to that channel including midi and effects chains. You can also do this with groups, and it will save the group as an ableton .als project