Are you interested to learn how to 10x your affiliate marketing sales with bonuses? Usually, a goal for all affiliate marketers, this strategy in the article will show you exactly how to do that.
You may have heard before – give to receive. This is exactly what we’ll talk about today; give more in the form of bonuses and receive more in the form of sales.
Creating the right bonus packages for your product, can result in a huge boost to sales. The tough part is putting the right bonus package together, as often affiliates will just throw everything and the kitchen sink together.
A bonus package has to be relevant, valuable, different from the rest and not break your purse strings of course. At the end of the day we’re in the affiliate marketing business to make money.
In this guide we’ll detail how to 10x your affiliate marketing sales with bonuses.
Why Use Bonuses to Increase Affiliate Sales?
Affiliate marketing is a popular way to make money online worth $12 billion and its growing year on year. While this is a true, a hard fact to swallow is that affiliate marketing statistics only show a 1% conversion rate!
So you can see why it’s so important to make your offer stand out from the crowd and get a potential customer excited about what you have.
I learnt about the power of building bonus packages after taking Russel Brunson’s One Funnel Away challenge (OFA). The concept behind the training is that you’re are only ‘One Funnel Away’ from building a six-figure business and that putting together the right, valuable bonus package plus upsells and downsells is a big part of affiliate success that separates super affiliates from an average affiliate.
If you haven’t yet heard about the challenge, you can check it out here for free. Even if you don’t want to take the One Funnel Away challenge (which is only $100), you can get huge amounts of value from the free affiliate bootcamp.
In the training you’ll be led hand by hand and shown how to create your own bonus packages, build out your offer and create your own high converting funnel.
If you’ve ever been tempted by any training or free offer before, this is likely a great piece of marketing put together by a savvy affiliate marketer. Often a bonus stack can seem so irresistible, you just can’t say no – this is what you’re aiming for!
What Makes Bonuses So Effective?
If you have an awesome product, it will likely still make sales on its own. The thing is, there may be many other people promoting the same product as you, so you need to make yourself stand out from the rest.
- An irresistible bonus will make someone buy now, especially if it is time-restricted. Many people will need a little push to get over the finish line and a valuable bonus that has to be purchased by a certain date can make it happen. Indecision is a sales killer and can make a potential customer bounce from your site onto another that is giving away an awesome bonus package.
- It makes people feel better about parting with cash. This is especially true if you’re selling a high ticket offer. Even if you promote the best product in the world, a $1,000 outlay at one time can be a big investment for some. Add on a super valuable bonus package and this can ease the woes some may have about investing a large sum of cash.
- Your product will stand out from the rest. If you promote a popular product, a unique bonus package will make you stand out. This is especially important if you’re up against other prolific marketers with huge social media followings.
When to Start Leveraging Bonuses?
The tough part is deciding what to give away for your bonus package. You don’t just want to give anything away. Work out a strategy and even do a bit of market research to see what bonuses your target market would actually benefit from.
Remember, you don’t have to break the bank giving so much away you don’t even make a profit. There are multiple ways you can put together cost-effective bonuses cheaply or even for free.
Bonuses can be given away at any time, but if you are giving a bonus in the form of a discount, this should only be leveraged at the right time. Too early and people may not trust you, too late and you may have missed the boat.
How Do I Create Bonus Packages to Give Away?
Here are some tips to put together a bonus package that is effective and affordable
1.Make your bonus compliment the main offer
If you are selling in the fitness niche, giving a bonus ‘’how to become an SEO expert’’ course away, doesn’t really fit.
A compliment to a fitness product like a diet plan, could be a video series to tone abs, or the best 5 exercises for fat burning for example.
If you are selling a course to help someone become a writer, a great bonus could be – a cheatsheet full of the highest paying companies for writers, plus access to a software that will increase writing productivity.
2. Make it worth 50-200% the value of the product
According to statistics, 50-200% is the sweet spot for ROI value for bonuses. If you go any higher, it may just make it seem unbelievable and make someone trust you less.
3. Use what you have or create your own
One good thing is; you can actually use or re-use content that you own already. For example; have you already created an EBook, a valuable cheatsheet or swipe files that relate to the product and will actually benefit someone who buys it?
If not, you can create these pretty easily yourself and re-use them over and over. Other free options could be;
- Access to your mastermind or secret group
- Extra coaching sessions with you
- Purchase E-books or digital content you can give away
- Partner with other entrepreneurs in your niche and create podcasts, videos or interviews you can give away
- Discount codes
4. Leverage free content or ask skilled friends to contribute
There are actually many free E-book sites online which you can leverage to build your offer. Do a quick Google search; ‘free eBooks’ and many platforms will come up. Just make sure you check the fine print to see the rules on distribution and altering of covers etc.
Gutenberg.org is one of the biggest, offering over 60,000 free EBooks in many different categories. Remember to actually read through any free PLR bonuses you want to use, ensuring they are of high quality. Many won’t be and you don’t want to hurt your reputation by giving away rubbish.
A better idea is to pay a small amount to an E-book site that you know has high quality content for sale.
Another option is to ask your friends if they would have anything to contribute. Obviously, I don’t mean just anything. But using the fitness niche again for an example, if you have a friend who is into meditation, giving away a free mediation tutorial could be a valuable extra if someone is struggling with weight related stress.
It will also give your friend a bit of extra publicity – so a win all round!
5. Stack your bonuses and show the monetary value
Your potential customers need to see the value of your bonuses and product all stacked together. Do make sure you show realistic numbers though, as people are not silly. Hyping this up too much could turn people away from you!
When customers can see the true value of what they’ll get for their investment, it can make a huge difference.
6. Check Out What Competitors Are Giving Away as Bonuses
Learning how to 10x your affiliate marketing sales with bonuses will need a little research. A good idea is to take a look at your competitors and see what they’re offering. This can;
- Give you ideas for your bonuses
- See what you have to compete with
- Present you with clarity to build a better offer!
This information will be invaluable, rather than putting a bonus stack together and waiting around to see what happens. And, not realizing someone else is offering something 100 times better.
If you are part of an affiliate marketing network, research the leaders for the affiliate sales of a certain product. It’s likely they will have set the bar high with crazy valuable bonuses!
Another way to research, is to find your product through Google and opt in to competitor’s funnels. Take a look at their sales and landing pages and write notes on their bonus stacks.
Don’t worry if you can’t compete with huge players who have a lot of money. You can still offer a valuable bonus stack by offering your time and knowledge.
It’s all about packaging your offer in the right way that talks to your niche.
Building great bonus stacks can take a little time and error. Don’t worry if you don’t get it perfect straight away as many marketers have had campaigns fail before you.
Always take a step back from what you’re offering and ask yourself; ‘’would this get me excited?’’ You can ask friends also to get a bit of customer feedback.
One of my mentors once built a bonus stack where he offered to build a free website for buyers among other things.
He asked his team at the time what they thought and one commented; ‘’you’re crazy, that’s way too much value to give away!’’
He said he knew he was on the right track and his next product launch was going make him a fortune.
If you want to learn more about building an awesome offer that will have people falling over themselves to buy from you, get started with the One Funnel Away challenge.
A must read for affiliate marketers serious about upping their game is Expert Secrets which you can get free here.
Other posts to help you on your affiliate journey: What affiliate programme is best to promote?, How to start affiliate marketing in 2020 (an actionable guide).