Tripwire refers to a type of sales funnel or process that offers a low-cost or free product in order to get leads into the sales cycle. What's funny is that a lot of people have never heard of the term tripwire, yet it's being used by online marketers every day. Each online business has a tripwire, be it an e-book, consultation, service trial or even temporary access to a system at a very low price (5 – 30 euros), the latter is more relevant for SaaS solutions or online courses.
A tripwire is intended to give potential customers a taste of what they can get in exchange for their contact details and leads them to a paid version of the same offer. Let’s understand this better.
Usually, a tripwire funnel consists of four phases starting from lead magnet, tripwire offer, which then leads to a core offer and additionally but not always necessary a high-end offer.
The first step in any sales funnel is to capture leads. A lead magnet is a piece of content that you give away for free in exchange for someone’s contact information. It could be an e-book, a white paper, a video tutorial, or even just a guide.
The most important thing to remember is that your lead magnet should offer real value to your target audience. It should help them solve a problem or teach them something new. If you can provide value upfront, people will be more likely to buy from you later on.
A tripwire is a low-cost introductory offer specifically designed to convert cold traffic into paying customers. It’s something so irresistible and valuable that customers will not resist buying it, even if they don’t need the product or service you’re selling.
The goal of a tripwire is to get customers through the door so you can start building a relationship with them. Once they’re in, you can start pitching them your higher-priced products and services. Tripwires are a great way to increase average order value (AOV) and reduce customer acquisition costs.
Your core offer is the main reason why people should do business with your company. It's what differentiates you from your competitors and what customers can't find anywhere else. Your core offer should be clearly stated on your website, in all of your marketing materials, and in every conversation that you have with a potential customer.
When you’re selling a product or service, it’s always important to remember that not everyone is going to be interested in the basic version of what you’re offering. You need to have a plan for those who want something more, and that’s where your high-end offer comes in. A high-end offer is a premium option of your services or products. On top of a core offer you can add premium help. This could be anything from additional features or benefits to personalisation or even hand-crafted products.