You have most likely heard the term being bounced around in the internet marketing field, “Tripwire,” or “Tripwire Marketing.” What is this kind of marketing, and how can you use it to propel you forward to more leads and profits?
What is Tripwire Marketing?
The term commonly is defined as the act of turning a lead into a customer by means of a super low risk, low cost, irresistible offer. Then hopefully up-selling the lead into your main sales funnel.
Traditionally, marketers would use a lead magnet to gain leads, then convert them to customers on the back end. What makes the tripwire process so fricking sexy is that it has the possibility to not only convert those leads into real customers, but to break even with your traffic numbers since you are converting them to income upfront.
This is an easy way to both gain trust and get your digital foot in the door with the lead. Instead of asking them to purchase in your more expensive primary products and upsells from the start, you are able to re-purpose or repackage teaser portions of the same products baiting them to buy more.
It’s a proven fact that buyers are more likely to buy again than a fresh non-buyer lead. Why is this?
Frank Kern, a veteran Guru marketer, explains it simply when he says that with a free offer, people are often suspicious and wonder “what is the catch?”, whereas with a low-cost offer they have already opened their pockets for something small which was delivered without a hitch therefore alleviating suspicion.
The term also goes by several other names: tripwire, splinter product, loss leader, or introductory offer.
How it Works
The tripwire need to be a powerfully compelling offer. It needs to be high-quality (not just something that you threw together). You need to make certain that even with your tripwire you are offering something of true value. It also needs to urge them to feel as if they would be missing out on something incredibly special if they should pass up your backend offer.
Does it have to be a hard item? No, it can be a digital product, but physical items have traditionally shown to convert better. (Anyone remember Columbia House?) The price point also needs to remain low, but relative to your market. For instance if you are shipping the customer a hard tangible item, you could offer it for say $7 with Free Shipping. Or Free + shipping costs.
Where to Start
- Begin with a lead magnet. Get the potential lead into your mailing list with a free offer that leaves them hungry for more and thus eager to make that next step down your path. One of the most important things to remember is to offer up something that your whole market will find value in.
- Create your tripwire. Once you have them in your list, offer them that super sexy, low-ticket item that they can’t resist. This could be anything from a 10 minute pre-recorded webinar to a simple website checklist. Again, make sure it actually adds value to their niche.
- Introduce buyers to your core product. The intention to every tripwire is to entice the lead to move down your offer flow path to a full conversion for your main product. Many marketers don’t wait and choose to strike while the iron is hot by offering a deal on their main offer while the customer is purchasing the tripwire. (Also known as: Striking while the wallet is open.)
Remember, you don’t have to develop something special or original for your tripwire. You can simply take your main offer and break off a chunk that can be packaged up separately as an individual teaser product.
Have you tried this marketing technique? If so, how did it help with conversions? We would love to know – tell us all about it in the comments below.