Adding Value to Your Seminar: Use Bonuses to Increase Value and Justify Higher Prices

Will prospective seminar attendees pay what you are asking to participate in your seminar?

The answer depends on how they perceive your price. If they think it's too high -- in other words -- there is not enough value to justify the time and money they will spend traveling to and participating in your seminar, they will not sign up. But if they think that you are offering a fair value, if not a bargain, they will sign up.

I recently met with producers of a one-day sales seminar that is priced at $1,295. Is that a lot for a one-day event? Yes, the tuition is higher than what most other providers of one-day training programs charge. However, what really matters is how the target audience perceives the price. If the education and solutions delivered in the seminar are great enough, the price will appear to be a bargain.

For example, if the process taught in this particular event helps seminar participants to increase their closing ratio, and each sale is an average of $10,000, prospects are likely to consider it to be a good investment. All will take is one sale to make their investment pay off.

On the other hand, if participants read the seminar promotional materials and conclude that it will take a lot of work and a long time to turn their seminar participation into measurable, bottom line results, they may conclude that the tuition is too high.

Adding bonuses to your offer is a good way to increase the perceived value of your event -- especially when the bonuses themselves have a great perceived value.

What makes a bonus valuable? Here are some questions to consider:

1. Is it sold in a store or on a web site? If so, it can reassure more skeptical prospects who might dismiss bonuses as fluff that you've thrown together to manipulate a sale. Knowing that your produce is really for sale somewhere can reassure these buyers that they are getting real value from your bonuses.
2. Is it something that will help your prospects save time, cut costs, make more money or otherwise solve a problem or enhance a result? Bonuses that help people get more of what they want and less of what they don't want are valuable.
3. Who is your audience and what do they like? If you market to parents, offer bonuses that help them better parent and connect with their children. If your audience loves technology, find the latest and greatest technical doodad to give them. If promoting events to people who love being outdoors, find bonuses that they'll be able to use while pursuing their passion.
4. What is your area of expertise? What do you stand for? Find bonuses that relate to your area of expertise -- because that is why your prospects seek you out. My subscribers are on my mailing list because they want information about promoting seminars and workshops. Although I am more than a seminar marketing coach, that is what connects me to my list. Other things, such as my love of gardening, reading and personal growth, might be interesting to some people on my list.

To find bonuses, start with your own products and knowledge. If needed, create new bonuses that relate to the content of your seminar.

Also turn to other experts and organizations whose products and services relate to your seminar topic. In addition to contributing bonuses that will increase the perceived value of your event, these individuals may make ideal affiliate partners.