The Power of the Bonus

<p>A bonus is a marketing superpower.</p> <p>It creates scarcity and value and takes hesitant prospects to the point of sale faster than anything else. This podcast episode sheds some light on how to use it.</p> <p><span style="text-decoration: underline;"><strong>Podcast Transcript</strong></span></p> <p>A bonus is a marketing superpower.</p> <p>It creates scarcity and value and takes hesitant prospects to the point of sale faster than anything else.</p> <p>We have all seen those late-night infomercials or where a guy is excitedly selling a pack of knives that are so amazing, they can sculpt a watermelon into the bust of Clive Palmer.</p> <p>You will notice that the entire commercial focuses on the one thing that the product does super well.</p> <p>They do not talk about all the other parts of the offer—the bonuses—until the end.</p> <p>The bonuses are like the last little bits of the offer that push people over the edge to make the sale.</p> <p>So, if you’re watching the commercial and you’re just about ready to buy (maybe there’s a tiny titbit of hesitation), now the bonuses are introduced. Not only do you get the original set of knives, you get a cutting board and a knife sharpener and a knife block and this extra knife that you cannot buy anywhere else!</p> <p>You will notice the best bonuses make the original product…</p> <p>work better (like a knife sharpener)</p> <p>work more efficiently (like the knife block for storage)</p> <p>more complete (like the cutting board)</p> <p>more special (the extra knife that you cannot find anywhere else)</p> <p>If you picture your prospect near a cliff, each bonus nudges them closer and closer until they take the plunge.</p> <p>Bonuses also create scarcity.</p> <p>You can use them to reward people for acting quickly by saying, “The first 10 people who buy get these bonuses” or “These bonuses expire in 24 hours.”</p> <p>This works for event offers too.</p> <p>Sometimes the hardest thing to sell is seats to an event When we my wife first started doing Fringe Festival, it w