TripWire | Ep. #28

Summary: In Ep. 28, Tripwire marketing is a conversion-acceleration hack that convinces target consumers to buy something small from you rather than a more expensive product or service. There are actually two versions of tripwire marketing you can use to produce more conversions. The first one involves luring in customers with low-cost offers. Imagine for a moment that you sell online courses. You offer a monster e-course with dozens of videos, articles, and other assets, and it’s priced at $1,000. That’s a lot of money for a consumer to spend on a company with which he has no experience. If you haven’t been in business long, you might not have strong social proof or other ways to speed up conversions and overcome objections. To incentivize conversions, you might create a mini-course that supplements your primary course. It could include one or two short videos, a couple checklists, and a few articles. Pricing this much smaller course at $20 or even $100 makes the product far more attractive to new customers. Most people are more willing to spend small amounts of money than a huge chunk. You then set up a tripwire marketing campaign. The tripwire — your mini-course — serves as proof of concept. It shows your customers that you deliver what you promise. They become enmeshed in your sales funnel, so you can market to them via email and other means to convert them on the larger product. The second tripwire marketing strategy focuses on consumer behavior. Let’s say you run a subscription service for which you charge $30 per month. Customer A has been a loyal subscriber for six months, then suddenly cancels his membership. That’s a tripwire. (You Can follow me on Instagram- Sattyam03)