Want to instantly sell more products online using the same funnel you’re already using? Add bonuses. But not just any bonuses, Perfect Bonuses. Here is the formula for offering strategic bonuses that will dramatically increase both your conversion rate and your final sale price.
A lot of online entrepreneurs think that creating awesome products and services and marketing those products and services to the right people is all that’s required to make sales.
While that sounds like a solid strategy, the unfortunate reality is that creating and selling a great product is only half the battle. If that’s where your effort ends, you’re destined for mediocrity.
So let’s level up your sales skills, shall we?
First we’re going to talk about turning a product into an offer and then I’m going to show you how to strategically create Perfect Bonuses to turn a good offer into an Irresistible Offer.
Products vs Offers
A product is the main thing you sell – the solution to someone’s pain point.
These things are products:
- An online course
- An ebook
- 1-1 coaching
- A physical product
As long as your product is high quality, does what it says it’s going to do, and gets put in front of the right people at the right time, it’ll sell. That’s not in question.
What’s in question is, “How much will it sell?” And, “How much will it sell for?”
When you sell a product by itself you’ll almost always sell less, for less, than if you create an offer.
An offer is a “package” that’s designed, positioned, and presented in a very strategic way.
Instead of selling, “a thing,” you’re selling “these things.” And each “thing” in the package serves a specific purpose.
If you have a product that sells for $495 successfully by itself, there’s a huge opportunity for increasing the average order value to $995 or more by creating an offer.
Bonuses: A Super Effective Way to Turn Products Into Offers
If you’ve ever purchased products online, especially info-products, you’ve likely seen bonuses attached to those products.
While creating and positioning bonuses is not the only way to turn a product into an offer, it’s a popular and effective strategy.
Here are some examples of basic bonuses:
- Extra tutorials
- 1-1 coaching
- Group coaching
- A private community
- Interviews with other experts
- Other products included as a bundle
- Free upgrade to a premium version
Now, keep this in mind: not all bonuses are created equal.
Here’s how a lot of entrepreneurs approach the strategy of using bonuses…
“I’ve heard that bonuses are important to selling more online so I’ll throw in [this random thing] and [this random thing] and [this random thing] and call it a day!”
That’s the amateur way of adding bonuses. While it’ll result in having an offer instead of just a product, it will never result in an Irresistible Offer and it’ll never command as high of a price.
If you want to step up your game and start creating Irresistible Offers then you need to learn how to create Perfect Bonuses.
Bonuses vs Perfect Bonuses: How to Turn a Good Offer Into an Irresistible Offer
Bonuses are good. Perfect Bonuses are…well…perfect.
What’s the difference?
In order to understand the concept of the Perfect Bonus, you must understand the two aspects of buyer psychology: Deal Breaker Objections and Glass Doors.
Deal Breaker Objections
Even if you create a great product and get it in front of the right people at the right time, there are still going to be objections.
The biggest objections are called Deal Breakers because the prospect will never choose to just overlook them and hope for the best the way they might with smaller objections.
If Deal Breakers are not dealt with directly and effectively, they will 100% break the deal.
There are also Glass Doors – obstacles that buyers will run into after purchase that they didn’t see coming. Glass Doors create frustration and – in the worst cases – prevent the buyer from getting results.
Great marketers and entrepreneurs know there are going to be Deal-Breaker Objections and Glass Doors ahead of time.
Not only do they know this, they know exactly what the objections and Glass Doors are going to be and they develop strategies for overcoming them in their marketing and in their sales process.
So knowing this, I have a question for you…
What if your bonuses weren’t random, but were created specifically to overcome Deal Breaker Objections?
What if your bonuses weren’t random, but were created specifically to alert buyers to Glass Doors and show them that you’ve got their back?
Let’s say you sell an online course on nailing interviews so you can help people land higher paying jobs.
Aside from boring, superficial objections like “I don’t have enough money” or “I don’t have enough time” (which are just excuses used to mask the real objections), what are some real, core objections someone might have to signing up for a course like this?
A Deal Breaker Objection
I really want to do this course, but I’m not sure it’ll help me. Even if you teach me how to nail my interviews, one of my problems is that I struggle to even get interviews in the first place.
This is a really good objection. Why would someone buy a course that teaches them how to nail interviews when they can barely even get their foot in the door with target companies?
If a lot of your buyers have this same problem/objection, you’re putting them in a situation where purchasing your course is a huge gamble. And if you aren’t aware, most buyers – especially online – aren’t gamblers.
That’s a Deal Breaker.
The Perfect Deal Saving Bonus
Knowing that a lot of your potential customers have this deal breaking issue, you can design a bonus that
solves it blows it away.
Bonus #1: Rise to the Top
5 Techniques From an HR Insider for Landing an Interview Anywhere (Without Even Submitting a Resume).
“It doesn’t matter how great you perform in interviews if you can’t get interviews in the first place. That’s why I brought in Joe Smith, an HR insider with 24 years of experience working for companies like…”
If your objection to the nailing interviews course was, “I can’t get any interviews in the first place,” how do you feel now?
See, overcoming the objection is one thing. The ability to go above and beyond and turn fear into intrigue is what puts prospects over the top.
This bonus doesn’t just teach them how to land more interviews, it teaches them what basically amounts to a superpower: landing an interview anywhere without the need for a resume (say what!? 👀).
There’s five things you can do when confronted with an objection:
- Ignore it / fail to address it (most common)
- Try to talk your way around it (2nd most common)
- Create a bonus that addresses it (3rd most common)
- Create a Perfect Bonus that crushes it (least common, best option)
- Fix it for them with 1-1 customization (effective but expensive and frustrating)
There are two clear winners but only one of them scales.
A Glass Door
Remember, a Glass Door is an obstacle that buyers will run into after purchase that they didn’t see coming.
Glass Doors create frustration and can prevent the buyer from getting results.
The good news is that they can be opened as long as the prospect:
- Knows they’re coming (so they don’t bust their face)
- Are given a key (so they can unlock it and walk right through)
When you reveal Glass Doors in your marketing and sales process you build immense trust in the eyes of the prospect.
They know you have their back and they start to get the sense that you’ve thought of everything. And since you have, and more people will benefit as a result, you’ll improve the strength of your business exponentially.
More satisfied customers means more testimonials, more glowing reviews, and more word of mouth recommendations.
Let’s continue to use the “nailing interviews” example:
One scenario people might run into is landing an interview at their dream company, nailing the interview, but ending up a disagreement over compensation and benefits.
What should they do?
And if they take the job at a compensation that’s too low or without benefits is there any proven plan for getting the company to increase pay or grant benefits within a certain time period?
You’re the expert! You need to figure this out ahead of time so your buyers don’t fall through a trap door into The Pit of Doom.
This is your chance to be the hero they always wanted instead of the incompetent leader who should have known better.
The Perfect Bonus: Reveal the Glass Door & Provide the Key
Bonus #2: Put Some Respect On My Check
How to Get Paid What You’re Worth & Max Out Your Employer’s Benefits Package
“Sometimes interviewers will play hardball with compensation and benefits even if they want you. That’s why I’m including my “Put Some Respect on My Check” bonus where I teach you:
- 3 critical positioning techniques to setup during the interview to make sure you get paid what you’re worth when it’s time to discuss compensation.
- 3 proven scripts that you can use when an interviewer tries to play hardball.
- My “Portfolio Technique” for getting a substantial raise less than 90 days after you’re hired (to get you to where you need to be if you have to accept the job at a lower pay OR to get you even more moolah, even if you took them to the cleaners the day you got hired).”
The main goal of Glass Door bonuses, aside from getting people better results, is to make the prospect feel that you have their back and that you’ve thought of everything.
It also shifts the decision making process from, “is this [main thing] really going to work” to “Oh wow, I’ll even be prepared if [this thing that I never saw coming] happens.”
Glass Door bonuses are heavy “straws” for the “camel’s back” in the decision making process.
When you combine Glass Door bonuses with bonuses that crush Deal Breaker Objections, you start to craft a truly Irresistible Offer.
Calling All Affiliate Marketers!
Most companies don’t create Perfect Bonuses to overcome Deal Breaker Objections or to provide keys for Glass Doors.
If you’re heavy into affiliate marketing, create these Perfect Bonuses and offer them to people who buy the product using your affiliate link.
That’s what your job as an affiliate is – to market the product for the company. If they missed something, pick up the slack and you’ll win!
Bonus Booster: Use Realistic Price Anchoring to Call Attention to the Value of Your Bonuses
Are we in agreement that Perfect Bonuses are way better than normal, random bonuses?
Now I’m going to teach you two ways to add even more oomph to your Perfect Bonuses.
The first Perfect Bonus Booster is Price Anchoring.
Anchoring is a cognitive bias in decision making where a person relies too heavily on an initial piece of information offered (known as the “anchor”) when making decisions.
There’s a lot of techniques and tactics that play on the cognitive bias of price anchoring but I’m not going to get into all of them here. I just want to make the point that if you don’t assign a value to your bonuses (an anchor), people won’t have any idea what the bonuses are worth or how they impact the value of the overall offer.
In fact, it’s worse than that. Since the bonus is “free,” that’s going to be the anchor if no other anchor is provided. They’re going to have the underlying feeling of, “sure, that’s interesting and seems valuable, but it can’t be too valuable if you’re just tossing it in willy nilly.”
You can avoid this and leverage the bias by placing a value on each of your Perfect Bonuses. What would you sell these bonuses for independent from the offer they’re currently attached to?
The key is that it has to be a realistic anchor or it’ll backfire.
For example, if you’re selling a course for $995 and you try to tell people that each of your bonuses is also worth $995 a piece, it feels too outlandish.
If you could sell the bonus for $249 by itself, use that as the value anchor. Just put it after the title of the bonus:
“5 Techniques From an HR Insider for Landing an Interview Anywhere (Without Even Submitting a Resume) – $249 value”
You can see why this offer you’re putting together will convert much better, right? Not only are you offering bonuses that smash Deal Breaker Objections and unlock Glass Doors but you’re selling $1991 worth of stuff (if you have four bonuses worth $249 each) for $995.
Bonus Booster: Use Scarcity to Get People Off the Fence
Want to really push people over the top and get them to act quickly? Want to avoid fence sitting? Offer your bonuses for a limited time only during a promotional period.
Or, you can design a funnel that uses an evergreen timer (a timer that tracks a deadline for each visitor independently) to inject scarcity into an automated sales process.
These scarcity strategies are optional, of course, but they’re very effective.
I *will* say this: If you were planning on using some sort of limited time discount to create scarcity then you’re almost always better off ditching that strategy and using expiring bonuses instead.
Instead of undercutting the value of what you sell (discounting), first try the angle of “sweetening the pot” (with bonuses).
There’s one last thing I want to mention before I close this out: the way you position bonuses to create the offer is important.
Make sure you *sell* the product and then offer the bonuses on top of that. Don’t *sell* the entire package with the bonuses included. I’m emphasizing the word “sell” because I’m talking about the positioning aspect of the sale.
To really understand what needs to happen, consider these two options:
You can buy 3 ice cream cones for $5…
You can buy 1 ice cream cone for $5 and we’ll give you two additional cones for free…
It’s the same exact result, but there’s a subtle, important distinction.
In the first example, the perceived value of each cone to most people will be much less than $5.
In the second example, you’re selling a single ice cream cone for $5 and giving the other two away free. The perceived value of each cone is $5, thus you feel you’re getting a total deal worth $15.
When you *sell* the entire package for the price, you reduce the perceived value of each item inside. When you sell the main product for the same price and then position the bonuses external to that as free, you retain the value of the main product and increase the value of the overall offer.
With all that said, don’t lose site of the main point of Perfect Bonuses – the ability to crush buyer Deal Breaker Objections and reveal Glass Doors to create an Irresistible Offer!
Now go forth and sell more online. If you have any questions about bonuses or offers, drop them in the comments below.
Kevin Michael Geary is the founder of Six-Figure Grind and host of the Six-Figure Grind Podcast. After building three successful online businesses in three separate niches in less than five years, he turned his attention toward helping other people start an online lifestyle business so they can escape the rat race, make an impact, and live life without limitations.