What’s The Point of a TripWire Anyways?

Small Business

Video Notes & Links

Welcome back!

So glad you’ve decided to join us for another installment of the You Don’t Know What You Don’t Know saga.

In our last series, we told you pretty much everything there is to know about lead magnets. If you missed it, check it out here.

 

Once you’ve got your lead magnet in place, it’s time to continue on your funnel journey, bringing you one step closer to converting that lead into a repeat customer or client.

Before you get to that end goal of having a repeat customer who brings new customers to your business, you have to take them on that journey we alluded to earlier.

The second stop on this journey, after the lead magnet, is the trip wire.

Simply put, your trip wire is a low-cost item that offers a reasonable amount of value, that puts your leads into the next step of the sales funnel.

The tripwire is the first paid step of the sales funnel.

Having a tripwire helps validate your leads. Anyone can download a free lead magnet in exchange for an email address, but when someone is willing to put their money where their mouth is an invest a little bit of skin in the game, you know you have a lead that is open to purchasing higher cost products and services later.

Putting out a trip wire is more than just attaching a price point to something you own and selling it. Everything must be value driven.

Your trip wire offers more value than your lead magnet, but not as much as your core product offering.

Putting out a lead magnet is the equivalent of letting someone pick your brain over a cup of coffee…but better. With a cup of coffee, the conversation usually ends after you get the check. With a tripwire, you can ensure the follow up continues for the same price of the cup of coffee in most cases (or a few cups of coffee depending on your offer).

Having a tripwire allows you to build authority for your brand and lets you look like on expert on your topic. A high value based tripwire gives you better command of your outcome and lets you build on the know, like and trust factor.

A good trip wire moves the lead along the buying process. Since they’ve already made a small purchase from you, you already have their credit card on file so when you’re ready to upsell them into the next phrase of your sale cycle, all you have to say is “would you like me to put this on the card on file?”  This makes your sales process a less confrontational and more natural.

Your trip wire separates the buyers from the lookers and gets the right people purchasing your products and services.

 

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