Tripwire marketing is a term used to describe segmenting your audience to make lower-cost sales in order to get them into your sales funnel. Once inside the funnel, you have the opportunity to upsell a higher priced class or package. There are many benefits to using this tripwire strategy.
A tripwire item is a great tool because as you’re driving traffic to your content, you can offer a very targeted, lower-priced offer to your audience. Yes, you should still keep your freebie to grow your email marketing list but some visitors are skeptical about getting spam from all these different lists they subscribe to so they may feel safer testing out your low-priced offer instead.
You can also offer more than just one tripwire offer. If your audience has a variety of pain points and you have a variety of solutions, try targeting each tripwire item based on the pain point and you may see sales from both items simultaneously. Instead of just offering all your content for free (which means you’re working for free) you set it at a very low price range to attract people, anywhere from $10 to $25 or whatever your market can handle. This tripwire method provides your clients with the content that they need while giving you the compensation that you need to survive financially.
Kimra Luna from FreedomHackers.com has done this really well. She offers free webinars to her community but if you do not attend live, you have an opportunity to purchase the replay at an additional fee. Why not offer a free replay? You certainly can in your situation but in this instance, Kimra wants to reward those who make the time to watch a webinar (which is always chock full of valuable information!) while weeding out those who aren’t serious about business. Also, she has worked extremely hard to grow her community and her expertise so why shouldn’t she get paid for putting together these webinars?
If you choose a similar model with webinars or even audio recordings, you can repurpose that replay and sell it as a one-hour mini master class on your website, charge a low-cost price for your guides, workbooks, short videos, or video series. You can even create a short program, for example, two days, three days, or even seven days to jumpstart a specific need for your client for $37. You can use your webinar replays and charge $47 for them.
These tripwires will help you confirm that the content you’re creating fulfills a need that your ideal client base has. It will also give your ideal client a taste of what it’s like to work with you while providing them with a solution that works for their business.
Leave a Reply