The Million Dollar Bonus Report by Simon Hodgkinson and Jeremy Gislason - HTML preview

Bonuses multiply conversions!

We’ve already briefly discussed the psychology of offering bonuses. They give your prospect a bit more courage to make the purchase; they inspire reciprocity, commitment and consistency, liking, and scarcity.

Step outside of the box for a moment and take a look at the buying process from your prospect’s perspective.

Imagine you’re considering buying a very expensive online course – perhaps the entire course is several thousand dollars.

That’s a good chunk of change for many people and there are the typical concerns that will enter most people’s minds even if you have the best sales content imaginable.

^• Your prospects will wonder whether the product is worth the price
^• They’ll want to know what’s in it for them

^• They’ll want to know you’re an authority on the subject

 

^• They’ll want to be assured that their return on investment will be sizeable.
A substantial bonus product or a series of bonus products can help convince them they’re making the right decision.

Bonus products will enhance the offer thus they may think that even if the product isn’t all they hope it will be, the number of bonus products will likely make up for it.

Bonus products, particularly when they’re linked to other experts in your industry, can enhance your authority.

For example, if you’re selling a coaching program and you offer a bonus book written by Brian Tracy then you’ll enhance your credibility by linking with such a well known expert.

Simply adding a number of relevant bonuses to each offer is a great way to increase your sales.
However, you can do more with bonuses than give them away with a purchase to inspire an opt-in.

How To Offer Your Bonus Products or Services For Maximum Results

You can use bonuses to build your sales in a number of alternative methods.
Here are just a few ideas to get your creative juices flowing:

^⇒Consider giving away bonuses when your customers achieve a pre-determined level of sales. One way to do this is to reward on a tiered system where the more the customer buys, the more bonuses the customer receives – for example, increasing membership status from silver to gold and gold to platinum

^⇒Consider giving away bonuses to customers who help you build your opt-in list. For example, you could reward every email a friend gives leads toward a bonus. Or every friend that signs up from the leads means a bonus for the referring friend.

^⇒ Consider giving away bonuses to prospects and customers who are active and participate in your online community. There are a few ways to accomplish this. You could create a point system for comments, links or visits.

^⇒ Another option is to give bonuses to members for a certain number of weeks or months or you can create membership levels that receive different bonuses with subscriptions.

^⇒Finally, because bonuses can be very enticing adding scarcity or urgency to the offer can really motivate sales. Consider giving time sensitive bonuses by offering the first to click gets a special bonus. You could also offer those visitors who sign up by a certain time receive a bonus and visitors who register during their first visit to your website receive a bonus.

Wrapping This Section Up

There are few people in the world who don’t get excited when they get something for free. Banks used the method for many years (and sometimes still do) to draw in new customers or to get existing customers to try new products. For example:

“Free Toaster with Each New Account Opened Today!”

Being able to claim a free toaster was enticement enough to get the customer through the door. Today the retail auto companies are good at using the same technique. All you have to do is stop in with the brochure you get in the mail and you’re guaranteed to win a prize. Once the customer is through the door then the salesmen go to work to create the sale.

Your website can use bonuses in the same way that banks, auto companies and other walk-in businesses use the “free with” promotion. The goal is to draw people to your website for the free information and then offer them enough to keep them there once they arrive.

However often the real power of a bonus offer rests in making the sale. Bonuses work quite well to motivate a purchase and to urge those undecided folks to a sale. Experts say if you’re giving away an item, then a visitor is more likely to feel obligated to purchase a product when receiving the free product – reciprocity. Although this is good, the better scenario is to provide a website so packed with products and information that visitors are knocking down your door to purchase more from you (now and in the future).

Do it well enough and they’ll be spreading the good news. Word of your top-notch products and services will spread faster than you can say “word of mouth marketing”. And when your bonuses are remarkable in quality and information, you can bet they’ll build your business and your bottom line.

Give your visitors more than they expect or ask for, and you’ll create a lifelong relationship with those visitors. We’ve spent a bit of time talking about when and why to offer bonuses and we’ve mentioned a few types of bonuses. In the next chapter, we’ll take a look at a few popular bonuses and the pros and cons of each. And we’ll explore how to create great bonus products you can be proud of.