Idea To Income – #13

Hello, my friend and future millionaire. 

Welcome to this episode of The Money Wheel. 

My name is Kris Hutchinson.

Today what I want to talk to you about is bonuses.

What kind of bonuses are you going to offer along with your course? 

Bonuses can be a lot of different things.

When you’re looking at bonuses, they definitely need to be in alignment with your product. 

It doesn’t make sense to have something if your product is in the relationship niche to offer financial services or something that’s in the wealth niche. 

Those things just aren’t going to go together and it’s not going to help to convince your potential client to buy your course.

So what you want to do is find additional content that you can include with your course. 

What we’d like to do is try to position these things to handle any of their objections that they may have to buying your course.

So in our space, because we’re in business building, there’s a lot of different skills that they need. 

We go through how to build your course. 

However, in order to market that, you’re going to need marketing education.

So we might include a bonus course on how to market on Facebook. 

There might be a pamphlet or a book along with it, that is: how to do copywriting.

There are other skills that you’re going to need in addition to what we’re already teaching you.

They may need those skills and they may not. 

You don’t know where they are with it, but as long as it is in alignment with the problem that you’re solving, it is definitely going to be a value add.

That’s the whole point of the bonus, is to add value to your course already. 

Offering bonuses can definitely be a struggle, if you’re just starting out and you don’t have a huge library of previous material. 

That’s where we were when we started out, we had one course and that was it.

What kind of bonuses could you offer? 

An idea might be something like this: if there is any kind of software needed, you can see if you can white label the software from a different company.

Basically, what that allows you to do is: a different company makes the software and you pay a licensing fee and you can put your name on it.

So now, ‘included with this course is all the software that you need, straight from us’. 

You can also get the private label rights to some videos or maybe just some kind of written content.

With the private label rights, it’s the same thing as the white label, where somebody else creates content, but you are licensing it and you’re able to put your name on it.

it could be a library of books available that you could put your name on, you’re the author of, and then you’re able to add or include that library as a bonus to match whatever it is that you need.

When you’re doing the private label rights, it’s important to look at the license and to see exactly where you’re allowed or what you’re allowed to do.

With that product, I’ve seen some where they say, you can include it as a free bonus, but you can’t give it away.

Other times, you can give it away or you’re not allowed to give it away at all, you have to charge a price for it. 

So just be mindful of that. 

Not all PLR agreements are the same.

As you’re moving forward into that, that’s just something to remember. 

PLR is also a great way to get a lead magnet.

We’re going to talk about lead magnets a little bit later as we’re setting up your funnel, and we’ve talked a bit about lead magnets before.

Finding the right PLR can be great in that aspect as well. 

Another idea for a free offer is this – offer some bonus coaching, get on a free call with us for 15 or 20 minutes, something like that.

The only thing you need to be worried about with that, is that it’s hard to scale it. 

There’s only so much time in a day.

You can only take so many calls in a week. 

If your course really takes off, you’re going to have a hard time keeping up with those demands, but it is a great value to have and it does work as a great bonus.

That’s everything I want to cover about bonuses today on The Money Wheel.