$100M Offers Audiobook Part 6 Ep 584

In the audiobook special edition of "100 Million Dollar Offers," the host and guests, including Jason Flatland, delve into the pivotal role of bonuses and guarantees in sales. Bonuses are additional value-added elements that incentivize buyers without discounting the core product, effectively increasing the perceived value. Guarantees, on the other hand, are powerful tools for mitigating consumer risk, with the potential to significantly boost sales when structured intelligently. The discussion covers various types of guarantees—unconditional, conditional, anti-guarantee, and implied—and emphasizes the importance of reversing customer fears into guarantees to enhance offer attractiveness. The conversation also stresses the strategic use of bonuses and guarantees in crafting irresistible offers, the psychology behind "stacking" bonuses to amplify value, and the necessity of naming offers in a way that maximizes market appeal and conversion rates.

• The podcast is an audiobook special edition discussing key sales strategies.
• Focuses on two chapters: "Bonuses" and "Guarantees".
• Bonuses enhance the value of an offer without reducing the price.
• Guarantees address the risk factor in sales.

"Today we're going over two chapters, bonuses and guarantees."

This quote introduces the primary focus of the podcast episode, indicating that the discussion will revolve around the topics of bonuses and guarantees as sales strategies.

• Bonuses are additional offerings that come with the main product or service.
• They incentivize customers to purchase without needing to discount the core offer.
• Bonuses add value and can be a decisive factor for customers on the fence.

"Bonuses are the thing that you give on top of the thing you're already selling to get more people to want to buy it at the same price."

This quote explains the concept of bonuses and their role in encouraging customers to make a purchase by adding value to the existing offer.

• Guarantees are a way to overcome sales objections related to risk.
• A well-crafted guarantee can significantly boost sales.
• Guarantees can be the key factor that changes the game for many businesses.

"Guarantees are the single greatest way to overcome the number one obstacle in sales, which is risk."

This quote highlights the significance of guarantees in mitigating perceived risk, which is a major barrier to closing sales.

• Bonuses should be carefully selected and presented.
• A single offer broken down into components and presented as bonuses can be more appealing.
• Infomercials demonstrate the effectiveness of this strategy by increasing perceived value through bonuses.

"A single offer is less valuable than the same offer broken into its component parts and stacked as bonuses."

This quote emphasizes the strategy of deconstructing a single offer into multiple components and presenting them as bonuses to increase the perceived value of the offer.

• Bonuses should be presented after the initial sale attempt in a one-on-one selling scenario.
• If the customer hesitates, a bonus addressing their specific concern should be offered.
• The process of adding bonuses can create a sense of obligation in the customer due to reciprocity.

"When selling 101, you ask for the sale first before offering the bonuses."

This quote outlines the technique of presenting bonuses in a one-on-one sales scenario, suggesting that bonuses should be introduced after an initial attempt to close the sale.

• Always offer bonuses as part of the deal.
• Bonuses should have a special name with a benefit in the title.
• Explain the relevance, discovery, and specific benefits of each bonus.
• Provide proof of the bonus's value.
• Paint a mental image of the benefits.
• Assign a price to each bonus and justify it.
• Tools and checklists are preferred over additional training.
• Address specific concerns or obstacles the customer may have.
• The cumulative value of bonuses should psychologically eclipse the core offer.
• Use scarcity and urgency to enhance the value of bonuses.

"Always offer them; you can use the bulleted bundle we come up with at the end of section three."

This quote advises that bonuses should always be a part of the sales offer, hinting at a structured approach to bundling and presenting them.

• Partner with other businesses to include their products and services as bonuses.
• These partnerships can be mutually beneficial and enhance the value of the offer.
• Negotiate group discounts and commissions to create additional revenue streams.

"You can get other businesses to give you their services and products as a part of your bonuses in exchange for exposure to your clients for free."

This quote explains an advanced strategy where partnering with other businesses allows for the inclusion of their products and services as bonuses, adding value to the offer without incurring costs.

• Bonuses are employed to expand the price to value discrepancy.
• They can motivate people to act faster and increase the likelihood of a purchase.
• Bonuses can be used to price anchor and product anchor, enhancing perceived value.
• The use of bonuses can lead to more customers saying yes to an offer.
• Bonuses should be items that are valuable but can be given away multiple times without additional cost.
• They can include checklists, tools, swipe files, scripts, templates, and similar resources.
• Recording workshops, webinars, interviews, etc., provides additional bonus material.
• Negotiating group discounts and referral commissions with adjacent businesses can be used as bonuses.
• Accumulating bonus assets over time can provide a vault of resources to enhance offers.
• Information products and tickets to virtual experiences or events are effective bonuses due to their high perceived value and low operational cost.
• Bonuses can also be used to upsell customers into a higher level of service.

"Free gift number eight bonus on bonuses there are a million and one ways to use bonuses in your offers." "You can get people to act faster. You can price anchor and product anchor." "Little known you can get more people." "To say yes than you otherwise would."

These quotes discuss the strategic use of bonuses in offers to incentivize customers, enhance the value proposition, and encourage faster decision-making. Bonuses can make an offer more attractive by providing additional value that exceeds the perceived cost.

• Distinct, valuable components of a service should be highlighted as bonuses.
• Bonuses should have a "wow factor" and stand out to the customer.
• High-quality, short-length resources like checklists or infographics make good bonuses.
• Bonuses should be perceived as highly valuable even if they wouldn't justify a high price alone.
• The core offer should be presented with scarcity and urgency to increase desirability.
• Stacking bonuses with the core offer can greatly enhance the perceived value discrepancy.
• The presentation of the core offer and bonuses should aim to "break the prospect's minds" with value.

"What should be a bonus versus part of the core offer if I am the one fulfilling it? Short answer, wow factor." "Many times you have so much cool stuff they will be providing your customers." "Which is a good thing that valuable." "Nuggets can get lost in the mix."

These quotes highlight the importance of distinguishing between what should be included as part of the core offer and what should be presented as a bonus. Bonuses should have significant appeal and be able to stand out within the broader offer.

• The biggest objection to purchasing a product or service is the perceived risk.
• Reversing risk can make an offer significantly more attractive.
• Guarantees can dramatically increase conversions.
• There are four types of guarantees: unconditional, conditional, anti-guarantee, and implied guarantees.
• Guarantees should be presented boldly and confidently.
• Strong guarantees can increase net sales even if refund rates rise.
• Guarantees can attract customers who may not be invested in the success of the product or service.
• High-cost services may require conditional or anti-guarantees due to the associated costs.
• Guarantees can be stacked to create even more compelling offers.

"Risk that it doesn't do what it's supposed to do for them. Therefore, reversing risk is an immediate way to make any offer more attractive." "You will want to spend a disproportionate amount of time figuring out how you." "Want to reverse it."

Risk is a critical factor in a customer's decision-making process. These quotes emphasize the importance of addressing and reversing perceived risk to enhance the attractiveness of an offer. Guarantees serve as a tool to mitigate risk and can significantly impact conversion rates.

• Unconditional guarantees offer a trial-like experience where customers can get a refund if they are not satisfied.
• Conditional guarantees require customers to meet certain conditions to be eligible for the guarantee.
• Anti-guarantees state that all sales are final, with a creative reason provided to justify this stance.
• Implied guarantees are performance-based and ensure payment only occurs if the service provider performs.
• Guarantees can be creatively structured to motivate customers and ensure a commitment to the product or service.
• Stacking different types of guarantees can create a very strong proposition for the customer.

"If you don't achieve x in Y time, we will." "What makes a guarantee have power is a conditional statement." "If you do not get x result in Y period of time, we will."

These quotes explain the concept of guarantees and how they function as a powerful tool in reducing customer risk. Conditional statements within guarantees can provide them with "teeth," making the offer more compelling by assuring customers of the outcome or compensation if the promise is not met.

• Speaker C and Speaker D discuss the importance of spelling out guarantees conditionally with a timeline.
• This approach demonstrates commitment and convinces prospects of the potential for success.
• It also transfers the risk from the client back to the service provider.

It out in a conditional guarantee with. A timeline for achievement.

The quote highlights the strategic use of guarantees that are both conditional and time-bound, which are designed to build trust with potential clients.

• Speaker D lists various types of guarantees including full refunds, partial refunds, and covering additional costs.
• These offers are meant to reassure clients of the service provider's confidence in their results.
• Speaker C notes the risk involved in such guarantees, as they hold the provider accountable regardless of fault.

Guarantee if you don't achieve x and y time, we will insert offer unconditional, no questions asked guarantee what the client gets a a full refund b 50%.

This quote provides specific examples of guarantees that can be offered to clients to secure their confidence and business.

• Speaker D praises Jason Fladley's pitch of an unconditional guarantee.
• The guarantee allows clients to experience the service from the inside before making a decision.
• It emphasizes the confidence of the service provider in their offering.

I'm not asking you to decide yes or no today. I'm asking you to make a fully informed decision.

This quote is from Jason Fladley's pitch, which Speaker D admires for its strategic approach to encouraging clients to try the service with the assurance of an unconditional guarantee.

• Speaker D suggests naming guarantees in a memorable and unique way.
• Creative naming can make guarantees more appealing and memorable.
• Examples include using strong, vivid imagery to describe the guarantee.

Insert dream alchemy pretty crazy guarantee pro. Tip name your guarantee something cool if you're going to give a guarantee, spice it up.

Speaker D advises on the marketing strategy of creatively naming guarantees to make them more attractive to potential clients.

• Speaker C shares their experience with a satisfaction-based refund guarantee in the weight loss industry.
• The strength of such a guarantee can be a significant factor in closing deals.
• The risk is mitigated by the provider's confidence in their ability to deliver results.

But I am guaranteeing that you will get $500 of the value and the service from us to support you.

Speaker C explains their personal use of a satisfaction-based guarantee that promises a certain value of service to the client.

• Speaker D describes a guarantee offering double or triple money back or a significant flat amount.
• Such guarantees are tied to conditions like the client fulfilling certain actions.
• Jason Fladley's guarantee strategy is cited as an example of a high-return, high-risk offer that paid off.

If you buy this course and spend x on advertising in your ecommerce store using the methods herein and don't make money, I will buy your store from you for $25,000, no questions asked.

This quote illustrates a bold guarantee offered by Jason Fladley, which was effective in driving a substantial amount of sales.

• Speaker D favors a guarantee that commits to working with the client until the goal is achieved, without a time limit.
• This guarantee focuses on the outcome rather than the duration of service.
• It can be made conditional on the client's adherence to specific actions.

You keep working for them free of charge until x is achieved.

Speaker D expresses preference for a service guarantee that obliges the provider to continue working with the client until the desired outcome is reached.

• Speaker D explains a guarantee offering an additional fixed period of service if the initial service does not meet the goal.
• This guarantee limits the provider's commitment to a specific duration.

You give them another ylong period of service or access to your product or services free of charge.

The quote outlines a guarantee that extends the service for a defined period if the initial offering does not achieve the intended results.

• Speaker D discusses offering credits for other services as a form of guarantee.
• This strategy is useful for upselling clients who may be hesitant about a new service.

You give them back what they paid, but in a credit towards any service you offer.

This quote describes a guarantee where the client is offered credit for other services instead of a direct refund, which can be an effective upsell tool.

• Speaker D considers a personal service guarantee to be one of the strongest types.
• Conditions are recommended to ensure the client's commitment.
• Such guarantees are particularly powerful when the business owner is well-known or established.

You personally work with them one on one, free of charge until they reach x objective or result.

Speaker D discusses a guarantee where the provider commits to working personally with the client until a specific goal is achieved, emphasizing its strength in convincing clients to commit.

• Offers a reimbursement of product costs plus additional expenses like hotel and airfare if the client doesn't receive value.
• This type of guarantee adds significant value to the offer, as it covers more than just the product cost.
• Designed for workshops and in-person experiences, enhancing the overall package by covering significant event-related expenses.

"Reimburse your product and your hotel and airfare."

This quote outlines the scope of the guarantee, highlighting the reimbursement of both the product and related travel expenses if value is not received.

• Promises to pay the client's hourly rate if they find no value in the call or session.
• A unique form of guarantee that covers the client's time investment, not just out-of-pocket expenses.
• In practice, clients are unlikely to request this refund due to the effort required to prove their hourly rate.

"You offer to pay their hourly rate if they don't find your call or session with them valuable."

This quote explains the guarantee's premise, which is to compensate for the client's time if they do not find the service valuable.

• Allows clients to exit their contract without any charges, effectively waiving commitment or cancellation fees.
• Particularly powerful for businesses with enforceable contracts, as it offers peace of mind to clients.
• If the business typically doesn't enforce contracts, this guarantee can be offered without actual risk.

"Conditional release of service guarantee what the client gets, you let them out of their contract free of charge."

This quote describes the guarantee that enables clients to terminate their service agreement without incurring any financial penalties.

• Clients are not billed a second time until they achieve their first desired outcome.
• Encourages clients to take action and start using the service to see results.
• Focuses the service provider on helping the client achieve initial success, which is a predictor of long-term retention.

"You won't bill them again until after they make or get their first outcome."

This quote specifies the guarantee's condition, delaying further payment until the client reaches a significant milestone.

• Continues to cover ancillary costs such as ad spend until the client achieves their first outcome.
• This guarantee is centered around supporting the client until they see initial success.
• Aims to maintain focus on achieving the first critical result, which often leads to subsequent successes.

"You continue to pay their ancillary cost, ad spend, hotel, et cetera until they reach their first outcome."

This quote highlights the guarantee's commitment to support the client financially until they achieve their first significant result.

• Offers access to exclusive and valuable services or products with a strict 'all sales are final' policy.
• Designed for products or services that once delivered, can easily be replicated or used without further payment.
• The absence of a traditional guarantee can actually increase the perceived value and seriousness of the offer.

"Antiguary all sales are final. What the client gets access to super exclusive, very valuable service or product."

This quote introduces the concept of an antiguarantee, where the finality of the sale reinforces the exclusivity and value of the product or service.

• Includes performance-based compensation models like revenue shares and profit sharing.
• Aligns the interests of the service provider with the client's success, fostering long-term collaboration.
• Offers a structure where the service provider is compensated only when the client achieves quantifiable outcomes.

"Performance models rev shares and profit sharing performance a only pay me if you do not perform, they do not have to pay."

This quote explains that performance models act as an implied guarantee of service quality, with payment contingent upon achieving specific results.

• Creating guarantees is as important as the deliverables themselves and can significantly increase conversion rates.
• Guarantees should address the client's biggest fears and obstacles, reversing them into a compelling offer.
• While guarantees enhance offers, they cannot compensate for poor products or services and may lead to high refund rates if misused.

"Reversing risk is the number one way to increase conversion of an offer."

This quote emphasizes the importance of risk reversal in enhancing the attractiveness of an offer and increasing its conversion rate.

• The way an offer is named and presented can greatly influence its conversion rates and overall success.
• Proper naming can enhance the response from various marketing channels, including outbound and inbound strategies.
• The presentation of the offer, including the naming, should be crafted to prevent market fatigue and ensure long-term lead generation.

"Naming an offer correctly determines how well your advertising converts, how big of a response you get from outbound emails, cold calls and texts, and how many inbound responses you get from organic comments."

This quote underscores the critical role that the naming of an offer plays in its market performance and the effectiveness of advertising efforts.