SNM184: Monetize First Time Visitors to Your Website with the Power of Tripwire
Customer acquisition is among the hardest of things. Digital marketers and entrepreneurs have a day-to-day struggle with this issue and with a good reason.
You may have heard of the alternative ways of getting more customers like creating a tripwire or a tripwire funnel, for instance. Well, those alternatives work and are more important than you think.
What’s A Tripwire?
What tripwires do is turn the audience into customers. They instigate buying mood. Tripwires have low prices (usually under $20) so they make it harder for people to refuse an offer. It’s important to remember that tripwires aren’t designed to bring profits to your company – only customers.
Hence, you have to put in a very low price for a product that is really good to gain your new customers’ trust. You have to over-deliver, give your potential customers something of value, to get value, so don’t you spare yourself with the effort.
With a tripwire you make people confide in you and your brand. They already bought something for you, so it will be easier for them to make another transaction. Once people are in that mood, once you have gained their trust, it will be much easier to get them to buy your next offer, and ultimately, your core offer.
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What Is A Tripwire Funnel?
The tripwire funnel is that journey where people get to purchase your products regularly. With the help of a funnel, you can notify customers of your other bigger and more expensive offers.
Tripwire funnels refer to an escalation, an upsell: one valuable product for $7, another even more valuable one for $17, and a set of products, say all your mini-courses for $47. As people go through the funnel, the price increases, but the value you provide has to increase as well.
Why Tripwire Offers Work?
Long-term relationships are based on trust. Similarly, your tripwire works because it is based on trust and low cost. The tripwire product, be it a mini-course, an ebook, or anything else of value shows you deliver what you promise.
When you do not just deliver, but over-deliver what you promise, customers see you are a man of your word and would be excited to buy your products. It’s people that know you, people that trust you, that can get to buy your core product more frequently than complete strangers.
Finally, a tripwire funnel works because people get more than what they paid for. Customers are happy with their product and get the feeling that they’ve gotten the better way of a deal. If you can have all your customers think that after every transaction, it means you are doing a good job.
Show Notes:
Key Points:
- Tripwires have to be under $20
- Tripwires should be brief, consumed in an afternoon
- Don’t leave money on the table
Resources Mentioned:
Sponsor:
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