179: 7 Types of Bonuses That Can Make or Break Your Launch
In this episode of the Creators MBA Podcast, I chatted with launch strategist Melody DiCroce, to discuss the power of launch bonuses in driving sales for digital products. Melody, the brains behind The Launch Library, shares her expertise on simplifying launches and making consistent sales on autopilot. Her approach focuses on creating scalable and enjoyable online businesses that offer entrepreneurs more time, money, and freedom.
Melody dives deep into the world of launch bonuses, revealing seven types of bonuses that can be strategically implemented during different phases of a launch. From wait list bonuses to the exciting "mic drop" bonus, she provides valuable insights on how to effectively use these incentives to boost sales and help potential customers make empowered decisions. Melody also shares tips on communicating the value of bonuses, avoiding common mistakes, and getting creative with bonus offerings.
Key points discussed:
The 7 types of launch bonuses (06:28)
How to effectively communicate bonus value (13:38)
Creative bonus ideas to implement in launches (15:25)
Common mistakes to avoid when offering bonuses (18:18)
The importance of keeping bonuses simple and relevant (19:22)
Mentioned In This Episode:
Melody’s Gift: 7 unique bonus types, when to use them, and get inspired with 30 ready-to-apply ideas
Unlocking the Power of Launch Bonuses: Strategies for Digital Product Success
In the ever-evolving world of digital entrepreneurship, launching products effectively can make or break your business. On this episode of the Creators MBA podcast, host Dr. Destini Copp sat down with launch strategist Melody DiCroce, to uncover the secrets of using bonuses to supercharge your digital product launches.
Melody, the creative force behind The Launch Library, has made it her mission to help entrepreneurs simplify their launches and generate consistent revenue on autopilot. Her approach focuses on creating scalable, enjoyable online businesses that offer more time, money, and freedom - a goal that resonates with many digital product creators.
The Power of Launch Bonuses
One of the key strategies Melody emphasizes is the strategic use of bonuses during a launch. But why are bonuses so effective? As Melody explains, "We're not trying to convince people to buy anything. What we want to do is give them enough information and clear information to help them self-select, to make their own empowered decision on whether or not your offer is right for them."
Bonuses serve as that extra push, providing additional value that can help potential customers make their decision. They can enhance the core product, help customers take action, or simply add an irresistible element to the offer.
The 7 Types of Launch Bonuses
Melody introduces a framework of seven different types of launch bonuses, each serving a specific purpose:
1. Wait List Bonus: For those who join a wait list before the cart opens.
2. Webinar Only Bonus: Offered exclusively to live webinar attendees.
3. Fast Action Bonus: A limited quantity bonus for quick decision-makers.
4. Early Bird Bonus: Available for the first 24-48 hours of cart open.
5. Mid-Cart Bonus: To reignite interest during slower periods of a longer launch.
6. Mic Drop Bonus: A final, irresistible offer on the last day of the launch.
7. Pay-in-Full Bonus: To incentivize full payments over payment plans.
Melody emphasizes that you don't need to use all of these in every launch. Instead, choose the ones that align best with your launch strategy and audience preferences.
Crafting Effective Bonuses
When it comes to creating bonuses that truly resonate with your audience, Melody offers some valuable advice:
1. Enhance the core product: The best bonuses are those that complement and enhance the main offer. For example, if you're selling a course on establishing a morning routine, a bonus could be a guided morning meditation.
2. Help customers take action: Offer bonuses that help your customers implement what they're learning. This could be templates, checklists, or even accountability partnerships.
3. Provide behind-the-scenes value: People love exclusive content. Sharing things like launch debriefs or behind-the-scenes insights can be incredibly valuable to your audience.
4. Get creative: Don't be afraid to think outside the box. Melody suggests ideas like branded merchandise, themed challenges, or even physical products to stand out from the usual digital bonuses.
Communicating Bonus Value
A crucial aspect of using bonuses effectively is communicating their value clearly. Melody advises treating your bonus communication almost like you're selling a separate product. Be specific about what the bonus includes and how it will benefit the customer.
For example, instead of simply offering an "ebook on Instagram growth," you might say: "You'll receive our exclusive 50-page ebook filled with actionable daily tips to boost your Instagram engagement by up to 40% in 30 days - a $97 value!"
Avoiding Common Bonus Mistakes
While bonuses can be powerful tools, there are some pitfalls to avoid:
1. Overloading: Don't overwhelm your audience with too many bonuses. This can actually deter people from buying as they may feel they won't have time to use everything.
2. Irrelevance: Ensure your bonuses are relevant to your main offer and your audience's needs.
3. Low quality: Don't rush to create a bonus at the last minute. Quality matters, even for free additions.
4. Complexity: Keep redemption and delivery of bonuses simple to avoid customer service issues.
5. Failing to create urgency: Clearly communicate when bonuses expire to encourage timely decisions.
The Bottom Line
Implementing bonuses in your launch strategy can significantly boost your sales and provide extra value to your customers. As Melody wisely states, "The only failed launch is one that you're not doing." So don't be afraid to experiment with different bonus strategies to find what works best for your business and audience.
Remember, the goal is to create an irresistible offer that helps your ideal customers make an empowered decision to invest in your product. With the right bonuses, you can tip the scales in your favor while providing genuine additional value.
Are you ready to supercharge your next launch with strategic bonuses? Take Melody's advice to heart, and you might just see your conversions soar. Happy launching!
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Transcript:
Dr. Destini Copp [00:00:07]:
Welcome to the Creators MBA Podcast, your go to resource for mastering the art and science of digital product entrepreneurship. My name is Dr. Destini Copp and I help business owners generate consistent revenue from their digital product business without the need to be glued to their desk, constantly live launching, or worrying about the social media algorithms. I hope you enjoy our episode today. And my special guest today is Melody DiCroce. Melody is a launch strategist in the brains behind The Launch library. She helps women launch digital products like online courses, trainings, and memberships so that they can grow a scalable and enjoyable online business that gives them more time, money, and freedom. And, Melody, I want you to let you know that you are absolutely speaking my language here. Then I know that everybody is listening.
Dr. Destini Copp [00:01:08]:
You know, that is the kind of business that they are interested in doing also. But before we get into all the questions I have for you today, can you tell the audience just a little bit more about you and how you help people?
Melody DiCroce [00:01:22]:
Yes. So I'm Melody. Thank you for the lovely introduction, and I help, you know, like like Destiny said, online business owners simplify their launches and make consistent sales on autopilot using, like, a clear, simple launch framework so that they have more personal and financial freedom. I think that's what we're all after. You know? And I do this through I used to do, like, 1 on 1 work. I don't do that anymore. I'm transitioning more into, like I have the launch library all access, which is, like, launch templates and, you know, kind of the things that are gonna save people time, help them launch more easily because I know a lot of people, if it's their 1st launch or even, you know, their second or third launch, they just wanna make launches easier because people get overwhelmed. They get in their heads.
Melody DiCroce [00:02:07]:
And so I try to make launches fun. I try to make them simple, and that is my goal for all business owners. And and I know a lot of us when we're out here, we're thinking about, oh, we gotta do a launch. We're thinking about this big, huge, you know, production and ever everything. But you say that you your kinda specialty is keeping them simple. Can you tell us a little bit more about that? Yeah. And you can still have, like, a big launch and still keep it simple. I think that people, especially when you first get into, like, the online space, you know, you see the people like the Amy Porter Fields, you know, these huge launches, which I know you've had her on your show before.
Melody DiCroce [00:02:45]:
And you think that you have to do all those things. You think that you have to do, like, this whole month long ramp up or this 2 week cart open period. And it doesn't have to be that way. I say, you know, start small. You know, if you wanna do an email only launch, I know we've got a lot of introverts, you know, maybe that might be listening. I, myself, am one. I didn't I did email only launches for, like, 2 years before I started implementing, like, webinars and challenges and things like that. So you don't have to do it any other way.
Melody DiCroce [00:03:16]:
I think the only failed launch is one that you're not doing. So if it needs to be an email only launch or a social media only launch, like, try it, get your feet wet. You know, don't feel like you have to do all
Dr. Destini Copp [00:03:26]:
the things. And I love what you just said. The only failed launch is the one that you didn't do. And I think you just gave us a really good social media Soundbite. Right? Yeah. That that is great. I love that. And today, we're really gonna dig into one aspect of the launch, and that are the launch bonuses that we include in the launch.
Dr. Destini Copp [00:03:47]:
And you can you tell us a little bit more about bonuses and how they can help drive more sales in our launch?
Melody DiCroce [00:03:56]:
Yes. So one thing that I love about bonuses is because you can implement and offer bonuses no matter what style of launch that you're doing. So if you're doing a challenge launch, a webinar launch, or an email only launch, you can still implement bonuses that are gonna help sales. So again, like, if you're not wanting to do this huge, you know, mega launch, do an email launch. Offer, like, really awesome bonuses, and you'd be amazed at, like, how much more it can, you know, get people off the fence. And the reason I like bonuses is because, you know, with sales, I hear a lot of people, especially in, like, the early stages, they're like, well, how do I convince people to, you know, buy my course or buy my membership? And I think one thing to get clarity on is we're not trying to convince people to buy anything. What we wanna do is give them enough information and clear information to help them, like, self select, to make their own empowered decision on whether or not your offer is right for them. And where bonuses can come in is if you choose the right types of bonuses, it can enhance the product that you're already selling.
Melody DiCroce [00:04:59]:
And so those people that have already said, you know, yeah, I think I'm interested in this, but, you know, I just need more time to think about it. Then these expiring bonuses are gonna help people make a decision more quickly on whether it's right for them. And it can be a yes or a no, and that's either one is fine. But the bonuses are definitely gonna entice more yeses than noes. You know, they're gonna get people off the fence a little bit quicker.
Dr. Destini Copp [00:05:21]:
And I like that perspective that you brought to the table, and I think it's very important here is that these bonuses are helping people kind of determine and self select, is this offer right for them. But let's talk about a little bit more about those examples of effective expiring bonuses that you just mentioned, and walk us through kind of the timeline of when we would put those in during a launch. So I like to
Melody DiCroce [00:05:49]:
say and this always kinda scares people in the beginning because I say there's, like, 7 types of launch bonuses. Now I wanna just, you know, preface this in the beginning. I am not saying you should use all of these. You should not use all of these in every launch. Either you wanna pick the ones that feel right for you. But the 7 types of launch bonuses that I've kind of come up with when working with people over the years, the first one is a wait list bonus. So if you have a new product and you're kind of teasing it and you have a wait list, which I highly encourage people to do, or if you have, like, a course or something that's, like, open and shut, you know, you close the doors in between launches, you can have that wait list. So a wait list bonus is simply that.
Melody DiCroce [00:06:28]:
It's, like, people who are on the wait list, who join before you open the cart to the public, they get a special, you know, type of bonus. There's a webinar only bonus. So you've seen these if you've been on webinars. You know, sometimes, like, if you join before the end of the webinar, you wanna offer that in between, you know, the webinar pitch and the q and a. And so that gives them that whole q and a time to think about it and decide if they wanna buy, and then they could get that webinar bonus. There's another one called the fast action bonus. This one is and the next one I'm gonna talk about is the early bird bonus. And sometimes people get these confused.
Melody DiCroce [00:07:02]:
How I define the fast action bonus is one that's a limited quantity. So most of the other ones are, like, expiring, like, time based bonuses. This is the one that I say, like, do a limited quantity, and it's usually reserved for higher ticket programs or, you know, higher ticket courses. And you can offer, like, 1 to 1, you know, but you wanna you don't wanna offer 1 to 1 to, like, let's say, 50 people. So maybe you say, like, the first five people who join get, you know, a 30 minute strategy call with me. So you definitely wanna limit those to the first, you know, number of people who join. There's an early bird bonus, which I just mentioned, and that is usually reserved for, like, the first 24 or 48 hours of your card open. It's gonna really help get those influx of sales in the beginning, which is kinda, like, makes you feel good.
Melody DiCroce [00:07:52]:
It gets you pumped up to, you know, to continue through the rest of the launch. There's also a mid cart bonus, and this I usually reserve only if you have, like, a cart that's open for, like, 2 weeks, you know, or something. You don't wanna do it a mid cart bonus on, like, a 5 day launch. But that sometimes, like, in that middle period is usually where sales are really slow or nonexistent sometimes, and so that mid cart bonus can kind of get some excitement going again. And one thing to remember, these bonuses, with the exception of the fast action bonus, you wanna make sure they're scalable. So you wanna be able to deliver, you know, like a digital product. You want them to be something you can deliver at scale. And when you do, like, this mid cart bonus, you also wanna offer it retroactively to anybody who joined prior to you, you know, unlocking that bonus.
Melody DiCroce [00:08:39]:
And then my favorite one is the one that I reserve usually for the very last day. I call it the mic drop bonus. And that's usually something that's like, it's gonna be valuable but it's also kind of fun, you know, and it's like boom. You know, all these people that are, like, waiting till the last day, the last day automatically pushes people to make a decision anyway. So this bonus is gonna really, like, okay. Gotta have it. Take my money. You know what I mean? And then the final bonus is a pay in full bonus, and this is if you have, you know, a payment plan versus a pay in full.
Melody DiCroce [00:09:12]:
Obviously, payment plans, you know, sometimes then those can cost business owners money because you might have failed payments or you're collecting payments. And so that paying full bonus is just to inspire more people to just get the whole thing out right. I you gave
Dr. Destini Copp [00:09:26]:
us so much there, and I love all of that. I got out of bed talking. I was sitting here writing it all down. Oh, that was such good information.
Melody DiCroce [00:09:34]:
Now I feel like you have to write it all down too because, you know, just a little preview. I'm gonna be giving something away at the end of this episode. You'll have it in
Dr. Destini Copp [00:09:42]:
the show notes, but it'll have all of this information in there. Yeah. We will definitely make sure that your free gift is there. So I love the mic drop bonus one that you have. Can you give us some examples?
Melody DiCroce [00:09:53]:
There's a little bit more examples of that. Those can be you know, like I said, it can be anything, but I like to have a little bit of fun with those. So, like, for instance, let's say you have some sort of, like, fitness course or a workout challenge, you could have the mic drop bonus could be, like, you know, a set of, like, pump you up playlists, you know, like a Spotify playlist or just something kind of fun. I'm trying to think of some other ones. I know one time let's see. I'm not gonna be able to think of this now that I'm, like, on the spot. I did
Dr. Destini Copp [00:10:24]:
put you on the spot there.
Melody DiCroce [00:10:25]:
I apologize. No. It's totally fine. It might be, like, if you have, like, a personal finance course, you know, you could do a mic drop bonus at the end. It's, like, you know, some budgeting spreadsheet templates or something that's gonna get them off the fence. It's gonna offer, like, value. It's gonna really, you know, we'll talk about this as we go too. Like, what the best kinds of bonuses are.
Melody DiCroce [00:10:45]:
You know, it should enhance or help people take action on what they're purchasing. And so but usually, like, I just kinda like to make those fun and easy and people you know, something that people haven't heard of before. Get really creative with it. This is where if you have I know a lot of us are, like, full of ideas and short on time, you know, to, like, implement them all. So maybe you have a really cool idea, and you're like, well, I can't really, like, turn that into a course, or I don't really wanna sell that or it's a little, you know, whatever. If it fits in with your offer, like, you know, put it as a PDF and include that as a bonus, and that could be your your mic drop bonus. You know, it could be literally anything.
Dr. Destini Copp [00:11:23]:
And and I'm curious as to what type of bonuses have you found to be most successful either in your own launches or the launches that you're, you know, helping clients with. I think the thing to make sure
Melody DiCroce [00:11:35]:
to remember is that a good bonus the best bonuses are ones that enhance the product that they're already purchasing. And so it can either help them take action on it. You know? So let's say let's say you have, you know, some sort of course on establishing a morning routine or, you know, productivity or something like that. Then maybe you offer a bonus that is like a morning meditation that kind of helps get them in a good head space for to prepare them for the rest of their day. You know? So you want it to be aligned. I know for my signature offer, the launch library all access, then I included one time as an early bird bonus. It was a behind the scenes debrief of my launch, and people loved that. You know? Because it was like it gave them I I mean, I shared the numbers, the good, the bad, the ugly, you know, like, from start to finish on that particular launch.
Melody DiCroce [00:12:30]:
So the ones that they were, like, seeing in real time, they got to see the behind the scenes and how well it performed. People love that kind of stuff, like the behind the scenes that nobody else gets to see. You could do, you know, some sort of audit. I have a client who she offers Instagram account audits, you know, for people who join her reels course. So anything that's aligned that helps people take action or helps them continue to take action. Accountability, you know, partner matching. Like, if you have a group coaching program, then take the people that join and match them up as accountability partners. You know, that's gonna help them take action.
Melody DiCroce [00:13:07]:
So those are the best kinds of bonuses.
Dr. Destini Copp [00:13:09]:
And I love all of those examples there. And one thing that kinda popped in my mind in where we're, you know, kinda communicating these bonuses and communicating them to our audience during the launch, one of the things that we need to, you know, kind of communicate in that process is the value of it. You know, what you, you know, and kinda set the value of what is this bonus as it compares to the price of the course or the membership or whatever. How do you suggest we effectively do that?
Melody DiCroce [00:13:38]:
Yes. So just like you know, I like to think of when you're communicating about your bonuses or the value of your bonuses, it's almost as if you're communicating it like a paid product that you're selling. You know, you wanna be very clear on what the bonus is and why they should want it, why it's valuable. So break it down in, you know, simple specific terms. So, like, as an example, instead of saying, you know, you get this free awesome ebook on Instagram growth, then you could say, you know, you'll receive our exclusive 50 page ebook filled with actionable daily tips to boost your Instagram engagement by up to 40 percent in 30 days. I mean, that's like super, super specific, you know, and then say, and that's a $97 value. You know, so put a value on it. Put a realistic, you know, dollar amount value on it, but, you know, make sure that you are also communicating that value because it's gonna increase the value of your overall offer.
Melody DiCroce [00:14:31]:
You also want to make sure that you're connecting in your messaging, connecting that bonus directly to that offer or their pain points or where they're trying to get with that. You know, you don't wanna just, like, throw in the kitchen sink. You're not trying to just throw a bunch of bonuses at them. You wanna make sure they're valuable, and you wanna communicate that value through your, messaging, your emails, on your sales page. I always say on the sales page, have a dedicated section that's like, here's the bonuses you get. You know, lay them out, put the value so that people can really, like, digest them very easily. You wanna make it very clear what they get, how much value you're offering, and then that's just gonna make buying your main offer a no brainer.
Dr. Destini Copp [00:15:11]:
And I'm sure you've been I know you've been doing this for a while. So can you kinda give us some insight into some creative bonus ideas that we may not have thought about that we could implement in our launches? Yeah. So, like, one
Melody DiCroce [00:15:25]:
of the ones I talked about earlier, so the behind the scenes content, I think everybody is sort of a voyeur at heart, and they wanna know, you know, what everybody else's businesses are doing. So if you can think of something that is sort of a behind the scenes, like my launch debrief, you know, exclusive online events. Sometimes we'll, you know, see things like that where it's a mini mastermind or a live workshop. So how can you put, like, a different spin on that to make it, you know, really enticing to your audience? Another one that I am actually talking one of my clients into trying this is, like, branded merchandise because people love getting stuff in the mail. And I think when we are, like, in this digital world, we're so used to getting these digital bonuses, and we're not always using them. You know? And so getting something in the mail, it doesn't even have to be, like, super elaborate. I know this wasn't specific to a launch, but I had sent out a survey earlier in the year to my audience. And to entice people to take the survey, then I, you know, did a drawing of, like, 3 winners with, like, a little you know, just a curated little gift basket.
Melody DiCroce [00:16:28]:
And I had, like, a favorite book of mine. I had, like, a little, you know, Stanley mug. You know, something like that. It wasn't, you know, it wasn't like a huge thing, but people just love getting physical things, stickers. Like, it could be anything. So that's a fun creative bonus. Accountability partner matching again. I mentioned that earlier.
Melody DiCroce [00:16:46]:
So, like, if you have a group program, then doing something like that. A themed challenge. So I've seen people do this where, you know, you have a course that teaches somebody how to do a certain thing. And then after when you take all the students of that course, this also increases the chance that they're gonna take your course. So you say, hey, everybody who got this, let's, you know, go through the course together in, like, 30 days and whoever finishes and, you know, gets this whatever product or whatever. You know, if it's like showing people how to run a challenge, you know, let's say that that's the thing, then you could afterwards showcase the people to your own audience that finished your course. So it's kind of like showing them off, but also promoting your own course again. So there's things like that, like challenges, accountability partners, physical things.
Melody DiCroce [00:17:39]:
You could, you know, just
Dr. Destini Copp [00:17:39]:
have fun with it. And all of those that you've mentioned, I've actually seen them in practice, so I know that they're working. I really like the brand and merchandise one, and I know that I have signed up for things in the past where I've gotten that branded merchandise. And I was like, oh, this is so cool. I didn't even remember, you know, that it was included as a bunch of it's a fun.
Melody DiCroce [00:17:57]:
You know, who doesn't love to who doesn't love to get swag sometimes? I know.
Dr. Destini Copp [00:18:01]:
I agree. So tell us about some mistakes that we can avoid, and I know that you've seen them. You've been doing this for a while, and I'm sure that I've made some of them in the in the past too. But tell us about some of the mistakes that we can avoid when offering bonuses during a lot.
Melody DiCroce [00:18:18]:
I think we all have made these mistakes, you know, and that's how you learn. Right? But I think the biggest one is people try to overload people with bonuses, and so it's like, oh, you get this and you get this and you get this. And that can actually turn people off from buying because then it's like, well, when am I gonna have time to implement all this and take all these bonuses. So you don't wanna overload them with bonuses which is why I said you know the 7 bonuses I talked about earlier. You don't wanna have all of those. You just wanna pick like 2 or 3. You know, it's tempting. You think, oh, it's gonna make it more valuable, but it actually kind of comes off as a little desperate if you have too many bonuses and also makes people feel overwhelmed.
Melody DiCroce [00:18:57]:
So we don't wanna do that. Another one is irrelevant bonuses. So don't just think just because it's free doesn't mean it's valuable or doesn't mean that people are gonna want it. So make sure it's tied into your offer, helps enhance it in some way, helps them take action on it. Obviously, we don't wanna offer low quality bonuses. You know, you don't want to just have a bonus be like an afterthought. Like, oh, gosh. I'm launching tomorrow, but I need a bonus.
Melody DiCroce [00:19:22]:
So let me just, you know, whip up something that's not high quality. You know, you want it to be good. You want it to be something that people are gonna, like, really wanna take action on. Another one is and I think this I used to work in, like, QA, you know, and just seeing things that are, like, too complex. We wanna keep it simple. So if it's overly complex to, like, redeem a bonus, then that's gonna turn people off. Like, you don't and it's also a customer service nightmare. So keep it simple.
Melody DiCroce [00:19:51]:
You know, that's why I like the digital products as bonuses because you can automate it, you know, and automate the delivery of the bonuses. Failing to communicate the value, you know, you wanna make sure that people understand, like, this is a bonus. This is high value. And then just not creating the urgency around it. You know? So make sure that you're you clearly communicate when is this bonus expiring. You know? What is the urgency behind it? Because that's gonna, again, get them off the fence more quickly if that bonus is gonna help, you know, be the thing that makes them decide whether or not to buy.
Dr. Destini Copp [00:20:24]:
Melody, thank you so much for all of the great tips that you gave us today. I wanna make sure that people know where they can find you. And, also, tell us a little bit more about that free gift that you have.
Melody DiCroce [00:20:37]:
Yes. So you can find me at my website, the launch library.com, or on Instagram at the launch library. And then for everybody listening today, I am excited to offer if you go to the launch library.com/mba, then you can download my launch bonus bank, and that's gonna show you it's gonna walk through the 7 unique bonus types that we talked about, when to use them, and then it's gonna give you 30 ready to apply ideas so you can boost your own launch. So, Melody, thank you so much for joining me here today. Thank you so much. I know it was a lot, so hopefully hopefully there's
Dr. Destini Copp [00:21:15]:
a lot of great information.
Melody DiCroce [00:21:16]:
Thank you so much. This is so much fun.
Dr. Destini Copp [00:21:19]:
Thanks for listening all the way to the end. I hope you enjoyed this episode today. If you love the show, I'd appreciate a review on Apple Podcasts or your favorite podcast platform. Have a great rest of your day, and bye for now.