Do I Really Need a TripWire?

Small Business

Video Notes & Links

Often times people ask us if they truly need a tripwire.

We keep it honest with people and tell them no, they don’t need one – but if you do have one, it helps you get a lot closer to your goals.

Buyers are over 10x more likely to purchase your core product offering after purchasing your tripwire. A good tripwire converts your lead from warm to hot and increases the probability of multiple purchases in the future.

After your lead has converted to a paying customer, continue to send them small offers between $5 and $50 through an email drip campaign. These small offers are meant to provide value to your new customer as well as accelerate the buyer/seller relationship that you two have recently established.

Nurturing this relationship early and often can lead to long term success with your customer.

Make sure that the offer is simple and affordable. You don’t want to get too complicated early on in the relationship (this is just like a real-life dating relationship). Keep the offer short and sweet to help them overcome their fear of buying from you. As more transactions take place between you and the customer, that trusted relationship will begin to build.

When people go into Publix, they’re never afraid of the purchase they’re about to make. Publix has built up the know, like and trust factor by consistently delivering value over time. Your brand should be the same way.

By your tripwire delivering value for such a small sum of money, you’re able to get the buyer to think “Wow, if I spent that little bit of money and got all the value back, when I spend more money, I’ll get way more value back.” Once a customer believes that, and you consistently deliver, their pockets are yours.

 

Examples

When it comes to creating your trip wire, many of the examples given below could be used for products at any stage of your sales cycle, it just depends on how much value you plan on adding.

The goal with these examples is to get their credit card so that you can comfortably pitch future offers with a serious chance of conversion.

  • Ebooks or Video Course
  • Checklist / Cheat Sheet
  • Resource List 
  • Low-Cost Monthly Membership
  • Webinar
  • Assessment/Grader
  • Coupon/Discount
  • Access to Premium Content

Try one of these out and see what it does for your business today!

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