Benefits of Offering Bonuses
© 2006 - 2009 Kendall SummerHawk
Ever wonder why someone as wealthy as Oprah cares about getting that special "free gift with purchase" offer at the department store makeup counter? You know, the one that includes the bright coral lipstick that doesn't look good on anyone!
Because getting something for free feels good and smart business owners know that ALL buying decisions are based on emotion (with logic backing up the decision so it makes sense to the left side of our brain).
But which bonuses are the best to offer and what do you do if you don't have a closet full of ebooks, reports or other products to give away?
Here are 4 creative, free or low-cost "sweeten the deal" ideas you can use to ethically motivate your potential client to take action and sign up for your seminar, workshop, teleseminar or purchase your product.
Idea #1 Include products from other people
You'll be surprised how many business owners will say "yes" to your idea of including their product as a bonus gift with purchase of your product. All you need to do is ask. Be sure to mention the type of marketing you'll be doing, the amount of exposure they'll get and how your clients are a perfect match for their type of business.
Your cost? Nothing!
Idea #2 Only offer limited quantities of your best bonuses
Despite our desire for abundance thinking, people still fear losing out on something that is in short supply. Limiting the number of copies of your best bonus helps your potential clients make a decision (which I honestly believe is doing a great service for them) so it's a win-win. Be sure to clearly print the number of bonus copies available in your sales copy, then, when all copies are sold out, update your website letting them know the bonus is gone.
Want to see a sample? You can see how this works by clicking on the sales letter page for my Brand Authenticity program (click on the "bonuses" link at the top of the page to skip most of the sales letter).
Your cost? Just a few minutes of time to update your website.
Idea #3 Offer a special contest where the prize is a consulting day with you
The more exclusive you are to work with, the more tantalizing this bonus will be. Let your prospective clients know that their name will be automatically entered into a drawing to win a consulting day with you. Be sure to assign a value to this prize. Then, later on, document in your newsletter or on your website the transformations that occurred for your client during that day. Your readers will love "eaves dropping" along with wishing THEY had won such a great prize. This helps create urgency the next time you offer a similar contest.
Your cost? One day of your time.
Idea #4 Offer a private 15-minute consultation or coaching session on a topic that compliments the product they're purchasing
Sure, this can be a little time-consuming but the payoff can be enormous! How? Because someone who purchases your product loves what you do and wants more of it. They are highly likely to sign up for a higher-end offer you'll wisely make available to them in that conversation. If you have corporate clients, offering a complimentary assessment is a simple no, or low-cost alternative that works beautifully.
It's not unusual to have 60-90% of those calls turn into a higher-paying client.
Your cost? A few minutes of your time.
Idea #5 Offer a follow up coaching or consulting day 90 days after their purchase
People know the value of follow up because they understand that without it, their chances of taking action are greatly decreased. Offering a reasonably in-depth follow up telephone or in-person session helps cement value in the eyes of your client, and allows you the opportunity to help them implement your information, and, make an additional offer to them, which they are likely to see the value of and WANT to purchase.
Your cost? One day or less of your time.
No matter what you offer as bonuses, be sure to emphasize the value of the bonus just as much as the value of your program or product. People are overwhelmed with information so be sure to clearly list WHY the bonus is important and HOW it's going to help them solve their problem.
About the author:
Kendall SummerHawk, Million Dollar Marketing Coach, delivers smart, savvy ways entrepreneurs can turn their hectic business into a smooth-running, fun, 6-figure money-making dream. To learn more about her book, Brilliance Unbridled, and sign up for more FREE tips like these, visit her site at http://www.kendallsummerhawk.com
NOTE: You are welcome to “reprint” this article online as long as it remains complete and unaltered (including the “about the author” info at the end). I would also appreciate a copy of your reprint sent to kendall@kendallsummerhawk.com