The reports, ebooks and tools in your package are complete. But before you get this package ready to sell, you need to decide what bonuses to include.
Why? Because depending on the bonus you’re offering, it can provide a wide variety of benefits for both you and your customers. Some of these benefits include:
· Adding value to the package. People feel good about getting a lot of bang for their buck.
· Higher conversion rates. This is the result of adding more value to the package, as well as adding something that’s highly desirable. A good bonus can also overcome a specific objection, which boosts conversion.
· Higher customer satisfaction. Again, this is due to adding more value to the package.
· Lower refund rates. People who are satisfied with what they’re purchased don’t tend to ask for refunds.
· Making the most of the package. A good bonus enhances the use or enjoyment of the main offer, which means people are able to make the most of their purchase.
So, with these benefits in mind, let’s have a look at how to choose bonuses for your package…
Decide Why You Want to Offer Bonuses
Before you can pick what sort of bonus you want to offer, you need to know your main reason for offering that bonus.
For example, if you’d like to create a bonus that helps people overcome their objections to purchasing your offer, you need to think about what those objections tend to be.
Let’s suppose you’re creating a weight-loss package, and one objection from prospects is that they don’t have time to cook elaborate meals, and they certainly don’t have time to cook two meals (one for themselves and one for the rest of the family). You can offer a healthy-eating cookbook that promises quick recipes the only family will enjoy.
Understand What Makes a Good Bonus
A good bonus should have these characteristics:
· Be highly desirable. Review your market research to refresh your memory about what people want.
· Be valuable. Just because you’re giving it away for free with a purchase doesn’t mean it shouldn’t worth anything. On the contrary, it should be valuable to help attract and convert buyers. For example, if you’re offering a $100 package, your bonus might range from $50 to $125 in value, give or take.
· Be useful. As mentioned, a good bonus enhances the use and enjoyment of the main package. For example, if your main package is all about weight loss, then you might include an exercise video and/or low-calorie cookbook as a bonus.
· Be easy to deliver. Any bonus you create should be easy for you to deliver, preferably automatically. If you’re offering something that you can’t deliver automatically, then you may want to put limits on it (e.g., “This coaching offer only good for the first 50 people to act now…”).
Choose Bonuses that Meet Your Goals
Now you need to brainstorm what sort of bonus would best fit your needs and achieve your goal (such as adding value to the package, overcoming an objection, etc.). Here are examples of the types of bonuses you could offer:
· Ebooks and reports.
· Tools (such as checklists, worksheets, templates, cheat sheets and similar).
· Webinar (and replays).
· Personal or group coaching/consulting.
· Access to a private group or forum.
· Access to a membership site.
TODAY’S TASK: Your task today is to start brainstorming and deciding what sort of bonus would be a good fit for your package. Then choose one or more types of bonuses to add to your package.