123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Marketing >> View Article

Money – Increase Your Sales By Adding Bonuses

Profile Picture
By Author: Hr Jerry
Total Articles: 43
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

In a practice known as the “baker’s dozen” a baker throws in an extra muffin or cinnamon roll when you buy 12.

We all love to receive some kind of bonus when we buy a product. But we tend to underestimate how powerful this tool can be to increasing sales.

When my wife and I bought new windows for our living room last year, the contractor added a free window when we also purchased windows for the bedroom (which we hadn’t even considered ordering).

A bonus can often both clinch the deal and increase the amount of the sale.

And yes, professional service businesses can offer bonuses and special offers, just as a product-based business can.

Here are a few examples.

Add a bonus for a larger sale

Let’s say you have a 6-month coaching program with a fixed fee. If that is your only option, it’s a yes or no proposition.

But what if you also offered a nine-month program for the same monthly fee but added a bonus? The bonus might be a virtual training program or access to an online forum.

This bonus might cost you very little but add substantial value to the client while also increasing your revenue.

In addition, by offering a second service package you then have a choice of ‘yeses,’ not a choice between yes and no. So, the chances of a prospect saying yes increases substantially.

Also, note that if you don’t offer a higher-end service you will never sell that service.

Add a bonus for choosing you sooner

We’re all faced with the situation where the prospective client says, “I need to think about it.”

That is certainly valid, but it’s also equally valid to reward a prospect for signing up for your service sooner rather than later.

I don’t like any kind of high-pressure sales tactics, but have no objection to offering a little more incentive for taking action quickly.

“If you choose to work with me within one week of receiving the proposal I’ll offer a complimentary one-day training session.”

Whatever bonus or incentive you offer, it should be perceived as a significant value to the prospect. Just this little nudge will often get a prospect to make a decision faster than usual.

And the faster clients decide to work with you, the more income you tend to make.

Add a bonus for a referral

When I ask people where most of their business comes from, a majority say, “word-of-mouth.” But I have yet to meet anyone who has a plan to increase word-of-mouth other than offering exceptional service.

Why not reward word-of-mouth referrals by offering a bonus?

You could say something like this: “Because I build my business on word-of-mouth I offer a client bonus if you send someone my way who becomes a new client.”

This bonus would vary, depending on the service you offer. It could be a free coaching session, a discount on services for a month or an additional service.

Some clients will do nothing, but others will introduce you to many new clients.

A little more value

Never underestimate the power of a special offer, a discount or bonus in return for buying more, buying sooner or giving you a referral.

And interestingly, when you offer more value in this way, you also tend to increase client loyalty and word-of-mouth. Everyone likes a good deal and will often share what a good deal they received with others.

Cheers, Robert

Action Plan Marketing helps self-employed people attract more clients through action-oriented marketing strategies that get you in front of prospective clients. Get our free report on how you can attract more of your ideal clients at this link: http://actionplan.club/free-stuff.

Total Views: 61Word Count: 613See All articles From Author

Add Comment

Marketing Articles

1. 5 Benefits Of Hiring A Social Media Advertising Agency
Author: ISeeMedia

2. Must Have Traits For Telesales Companies
Author: Nicole

3. How To Be An Seo Ninja? Difference Between White Hat & Black Hat Seo
Author: Zib Media

4. Bulk Sms Gateway Api: Simplifying Business Marketing
Author: MsgClub

5. Bulk Sms Service In Mumbai
Author: ankur tiwari

6. What Should A Web Design Company Do For Your Business
Author: mohana basran

7. Export And Import Data To Help In The International Business
Author: Deepak

8. What Is The Role Of Bulk Sms Resellers In Customer Procurement For E-commerce Sites?
Author: MsgClub

9. Video Marketing : A Ultimate Guide To Video Marketing
Author: George William

10. Digital Marketing Strategy For Holiday Season
Author: Chris Brown

11. How To Adopt The Best Car Dealership Marketing Ideas
Author: James Belly

12. Why Ipv6 Adoption Has Been Slow
Author: carla joseph

13. 6 Business Growth Trends To Dominate 2020
Author: Malik

14. Avail Professional Business, Work Marketing Through Ads, Videos In Radio/television
Author: Scott Peterson

15. How Much To Pay For A Stunning Animated Explainer Video?
Author: Komal Kokatee

Login To Account
Login Email:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: