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In a recent blog post, I shared a fun three step exercise to help you plan a holiday promotion in 10 minutes. As part of this exercise, one of my tips was to review your promotional idea and make sure that it’s an added-value offer NOT a discount, especially around the holiday season.

Since then, I’ve had quite a few questions about added-value offers, what they are, how they impact your income, and how they differ from discounts:

• Q: I find the discount DOES get people purchasing for my services, but does it take away from the bottom line too much? 

• Q: How do I know if it's a value-added promotion?

• Q: I’m having a hard time figuring out how to add value without discounting my membership or services. If I add value, won’t I ultimately be giving something away or no? Like “sign up and get a free t-shirt”? I had to pay for the t-shirt. Is that devaluing?

When I say added-value, I’m referring to a promotion that adds value to your offer AND to the customer’s experience so they get more than what they expected from you. So, when a customer purchases a product or service, they receive an extra benefit. 

Added-value is not the same as offering a discount because the customer gets something that they can't buy or that’s different from what they’re buying. In this way, added-value doesn't take away from your bottom line - it benefits it.

Here are some examples of added-value offers and purchasing incentives:

SERVICE PROVIDERS / PRODUCT MAKERS

• Guide

• Checklist

• Program

• Resource library

• Case study 

• Mini consultation 

• Course

• Bonus Bundle

• E-book

• A video tutorial or webinar

• An infographic

• Special newsletter

RETAILERS

• Customer loyalty program exclusive / bonus

• Special return policy for busy seasons

• Gift wrapping

• Exclusive gift bundle options

• In-store pickup

• Expanded payment options

• Extended warranties

• Hand written thank you card or note with shipment and bonus with new product teaser

• Exclusive offer to most loyal customers / rewards program users

• Give back for every purchase to a charitable cause

• Customer recognition on social or in newsletter

• Giveaway just for customers

Can you see how each of these would ADD VALUE to the customer versus take away from it?

You’re providing them exceptional service, consistency, convenience, expertise, time, recognition, rewards and, when you can guarantee that year round (especially during the busy end of year buying season), you’re audience will go CRAZY for you.

Here’s an example of how I’ve done this with my business for the end of the year:

I open my signature online course, Brand in Bloom, for 24 hours and, instead of cutting the course price in-half or discounting the cost (which I’d ultimately lose money from), I offer what’s called a “Super Bonus Bundle” that includes a few extra guides and a complimentary 20 minute clarity call with me. This flash bonus acts as an added value offer that my community can’t get any other time, even once the course reopens in the spring, and it doesn’t take away from my bottomline because I’ve also added deadlines and limiters. Plus, it ADDS to the customer's overall experience with the course because the bonuses are supplemental to their learning. The course any other time still comes with bonuses like group coaching, etc. so these additional super bonuses really incentive my audience further. It helps my students with their learning, it doesn’t take away from it and, most importantly, enhances their overall experience.

To help you generate your own ideas, ask yourself: What’s something you can offer your audience that they can’t get any other time of year OR what’s something you already do or have that’s free of charge your audience doesn’t already know about that you could make into an added value offer? Again this could be a free guide, program/course or other resource.

Either way, think about your added-value offer from your customer's perspective and their experience. You don't want to take away from their overall experience or make their life harder, you want to make it easier. You don’t want to exhaust them, you want to excite them so they feel like their investment in you is truly worth it. With discounts, you de-value yourself and your customer. With added-value offers, you're not only giving your customer extra incentive but you're helping them see just how valuable you are.

Still have questions? Let me know in the comments so others can see and learn too!

Need help crafting your million dollar offer?

Get The Bloom Crew™ experience! Doors open again soon and guess what? Our next masterclass is all about OFFERS THAT SELL.

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