Pricing product bonuses to increase sales for your online business
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Adding bonuses to your offer is a proven way to tip the sales scale in your favor.
But how do you go about pricing product bonuses to help make the sale?
(P.S. if you aren’t sure what makes a good bonus then click HERE).
Strategic pricing for sales bonuses: set the right price
Properly pricing your bonuses is just as important as the bonuses you offer.
As tempting as it may be to imitate the “big internet Gurus” and put astronomical prices on all your bonuses.
That being said, it isn’t difficult to price your bonuses when you know how.
How to price sales bonuses for my digital products online?
1.Use your regular price
If you are already selling the product or service you are offering as a bonus, simply use the regular price. Done and done!
2.Use a comparator
Maybe you haven’t sold this bonus by itself but you can find a comparable product.
If your bonus is a 90-minutes video training then look at the price of other video training.
If you sell videos that are one hour long, then increase the price by 50% since you are teaching for an extra 30 minutes in your bonus.
3.Look at the market
Review the price your competition is selling similar products and services, then compare their pricing strategy to yours.
Are they usually priced in the same ballpark as you? If yes then use the same price.
Do your products or services command a premium? Then increase the price slightly.
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Add value for customers with well-priced product bonuses
If you want to do a deep dive mapping out your core offer, and have a 12 to 18 month strategy, we recommend you schedule a Marketing Intensive.
Places are limited as you’ll be spending several hours over two days with myself and Pol Cousineau, co-owner of The Digital Navigator.
What you can expect is a deep dive into your business, where we will provide you an actionable plan to take it to the next level.
You can also schedule a complimentary consultation to see if the Marketing Intensive is a right fit for you.
Until next time!