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Want to Really Boost Your Conversion Rates?
You are probably already familiar with lead magnets. You know, those free items that you swap in exchange for an email address). The idea is that once people download your lead magnet, you can then begin to market your products and services to them via email, with the ultimate goal of being able to convert them into a client.
The problem is often that going from a free lead magnet to a $49 monthly membership or a $2,999 course is a big leap. So, how do you get your leads to take the leap?
Tripwire offers are significantly discounted items--sometimes priced as only a few dollars). They could be simple products (or services) that are easy for you to produce or smaller renderings of your existing products. In marketing we use them as stepping stones between our lead magnets and our more expensive items. Someone might not be ready to invest in your entire course; however, they may be willing to purchase the first lesson in it for $19. These products/services are not going to create a lot of revenue, but they do achieve one very important goal: turn your leads into clients.
Once someone purchases one of your products/services, they’re much more likely to purchase more in the future as long as you are providing value.
Now that you’re clear on the definition of a tripwire, I've suggested three popular ways to offer them to your clients:
This is where you are marketing to a wide audience to capture as many leads as possible. Since people are primarily searching for information at this stage, the primary goals of marketing at the top of the funnel are awareness and lead generation. People are looking for solutions to their problems, get an answer, or meet a need and you’ll direct them straight to your tripwire offer and skip the lead magnet all together. This approach works when you’re looking to convert leads quickly. But, since you’re asking them to pay for something immediately, the product will need to have a high perceived value and a very attractive price.
A popular places to offer a tripwire is on your lead magnet's thank you page. If a person downloads your lead magnet, they’re clearly interested in your products and services. Why not see if they’re willing to make a small purchase? If they accept the offer, you've made a quick sale. If they don't accept the offer, you still have their email and can offer them something in the future.
Offer your tripwire in an email sequence after someone has downloaded your lead magnet. Depending on your products or service, a subscriber may require additional information before making a purchase. In this case, it may be a good idea to nurture your leads a bit before sending them your tripwire offer.Remember, it typically takes at least eight touchpoints (voicemail, email, or live conversation) before a person makes the purchase.
A few tripwire examples to inspire you are:
If you’re not currently offering a tripwire and you’re exploring ways to boost conversions, then this may be the perfect solution.
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