Let me ask you something…
Do you offer bonuses when you launch products, services, or open the doors on new offerings in your business?
If so, how confident are you that these bonuses add to your main offer? Do you feel like you’re picking willy nilly and just offering random things to add to the stack, hopefully adding value to your main offer?
If you’re not sure or the bonuses don’t really seem to have any effect on whether people buy or not, today’s post is for you.
Now – let me first say that after writing this post, I went on the search for other bonus related posts and found several I found really useful…I STILL decided to publish this one because these are 3 bonuses I use when I launch Fearless Launching.
First, let’s talk about a question I always get — do I need to give bonuses and why?
Let me just say that I don’t think you need to give an extensive list of extras, but I do think providing a few at key points during your launch is important.
Bonuses help people:
- make their buying decision
- convince their partners why it’s an important bonus
- justify spending money > that’s why your bonuses should be useful
- feel like they’re getting a deal
But before you just go adding bonuses so people can get their money’s worth…it’s important to make sure there’s nothing that overshadows the main offer.
Look for bonuses that:
- Enhance the main product or service by adding valuable information in action.
- For example, you could include interviews/case studies giving knowledge in action, they can be past customers and specifics on how they achieved success. A great example of this inside Instagram with Intention from Hilary Rushford.
- Provide the first step, something they need to do before they dive into the main product, course, or training.
- For example, Marie Forleo’s Start The Right Business guide inside her B-School program
- Provide the next step after they’ve used your product, learned from your core content and training.
- For example, one of my bonuses in Fearless Launching is a Relaunch masterclass with me and Laura Roeder.
Important: Don’t give bonuses just for the sake of adding more stuff to your product.
Jen Louden told me once about bonuses and teaching (because that’s her thing) and she talked about stripping things out of the course each time you do it. Click here to listen to my interview with her about this and teaching courses.
With that said, let’s dive into 4 bonuses you can and should offer during your next product launch…and when to offer them:
1. First 48 hours
First, helping people take action fast usually occurs when you offer them a timed incentive that only exists in the first 48 hours your launch is live. Now, some people don’t offer bonuses like this, but here’s what you can do:
- Show them the money
- Special package of bonuses related to your main offer + money
I do the same thing usually during my launches. For the first 48 hours we’re open, I generally have an instant discount! It works well to get people who are already planning to enroll a little bonus for taking action fast.
2. Mid-launch surprise bonus
If you’ve ever been through a launch, you’ve likely experienced the mid-launch doldrums. No one is buying… or hardly any sales come in during this time. Usually this is very normal to any launch where the class starts on a specific date.
To ignite some launches during that stretch in the middle, it’s important to give people some type of incentive to encourage sales.
One of the ways to do this is announcing a brand new limited time bonus.
“We’ve just added a bonus”
Look at these last minute bonuses as amazing energy boosters for yourself and anyone who’s considering buying but maybe missed out on that first fast action bonus.
Here are a few examples:
James Wedmore added a relevant bonus that enhances what he’s already teaching in his 48-hour Film School program…
And recently, Amy Porterfield even used this type of bonus as she was promoting Marie Forleo’s B-School program:
3. Fast Action During Webinar Bonus
If you do webinars, hangouts, live interviews during your launch (or to open up your launch), you can add another bonus for the people who attend live. This one’s also fun because it’s a way to change the energy of a webinar–give a surprise…and funnily enough, some people do decide last minute that they want to offer a fast action bonus.
A few tips from people who know: put a timer up, start Q & A, and remind people about the bonus before the timer finishes up.
The bonus might be:
- short 1 on 1 call for the first 20 people who purchase
- special group call (especially works well if it’s not a live class)
- a pdf guide no-one else is getting
- a masterclass
- piece of software
- physical gift
- invite to a live event
- combination of the above
Think value – it’s gotta be something people can’t believe you’re giving away or it’s gotta be something useful they know they need.
Want to see examples of this in motion?
All you have to do is attend webinars by Amy Porterfield, James Wedmore, Hilary Rushford, and many more (even I always like to add a fast action bonus) to see this type of bonus in action!
Which Bonuses Work The Best?
Try each one out or all of them during your next launch. The only way for you to know how they work is to test it out. For me – these three are my sweet spot go to bonuses. I like getting creative with the “what” I offer, but I always come back to these type.
Go through each type of bonus and come up with one thing you can do for each.
Then, decide if you want to
What Bonuses Have You Offered During Your Launches and Promotions?
I want to know what bonuses you're either thinking about offering or have offered in the past! Tell us if you feel like it worked or didn't and why.
And if you want to learn more about the bonuses you can offer during your next launch, let me know…this was a fairly short post about 3 different types of launch bonuses that I use, but it's the tip of the bonus topic iceberg!
If you want more ideas for bonuses and why they work…let me know.