You might not have heard of Tripwire Marketing yet, but you certainly have been exposed to it or even used it in your online business without noticing it. And this is a strategy that you indeed should be mastering at this stage.
Tripwire Marketing is one of the best ways to turn leads into customers. To achieve it, according to this strategy, you will be using bait, something that you can sell cheap so to attract clients.
The concept here is that, after knowing more about you, your customers are more likely to trust in your brand and buy something more expensive from you. And to make it happen, you just need to follow a few steps, as below:
Step # 1 - Create a killer lead magnet and get subscribers
First of all, you will need a list of subscribers so to have something to start. So find a product or service that you can offer for free and create an online campaign with a killer lead magnet.
It has to be something exciting, catching and relevant, such a list with reviews of the best companies that are hard to find or a check-list that will make their lives much simpler. Anything can do here, as long is relevant and that you know how to market your lead magnet and landing page.
Step # 2 – Segment your list
With your list in your hands, you should segment it to the best you can. Of course, it might not be necessary, but usually, there is different kinds of customers in the same business.
They are looking for the same products but for various reasons, or they are from different age groups, for instance. So try and get them organised in as many sub-lists as necessary. This way you can see what you are dealing with much easily and then think about your next move more efficiently.
Step # 3 – Choose and sell your low-ticket item
Now that you have a decent and segmented list of subscribers, you need to have something to sell them. This low-ticket item must be a product service that your target audience would really be interested, connected to your core product, but much cheaper than it.
As an example, if you own a gym, your low-ticket item could be a one-hour one-to-one class with a personal trainer. Or two passes to spin classes. What you will choose will depend on the goals of each sub-list of subscribers you got – and this why you have done it in the first place.
What you can’t offer is a free meal in a restaurant, for instance, as it has nothing to do with your business. It is also best to stick with products or services that they can get completely free of charge, instead of offering discounts or promo codes.
Step # 4 – Introduce your core product
The next step after selling your low-ticket item is to get the same customers to buy your core product.
You already know what they are looking for, they already know you. There is a connection between your clients and your portfolio, and they have evaluated what you have to offer and how you deliver it. That is that there is an established connection between they and your brand, so your chances of conversion are much higher than before.
So it is time now to let them know about your core product. Let them know how you appreciate that they are now part of your business and how much more they can get if they buy this or that.
Be aware that you will still have to market it, as usual, so don’t be lazy and take for granted that they will buy your more expensive item just because you said so. What you get with Tripwire Marketing is to bring the odds to your side, not magic.
A selection of the best low-ticket items
The low-ticket items can be very specific to each industry as we mentioned before. But if you are struggling with deciding what to offer, here is a selection of the best low-tickets items for you to choose from it.
# 1 – An E-book
E-books are quite a unanimity when it comes to Tripwire Marketing. They can function as a freebie so you to collect e-mails as well, but then they need to be very simple, or you will be just losing money.
As a low-ticket item, you will want to prepare a professional-level e-book with detailed information and well-designed, so they will be happy to pay for it even if it is very little money. Can’t do it yourself? Then look for an e-book writer and a designer to get it done for you.
# 2 – A Starter-Kit
If your product involves learning to master a practical skill, a starter-kit is something you should consider as a low-ticket item.
Let’s say, for example, that you sell products for handcrafting. Then you could organise a small set with essential items for those who want to start learning about painting or sculpturing or jewellery making and offer it for a low price. Or something that will let them get one single project done.
Your kit must be good enough to allow the person to get something done without having to buy anything else, or the customer will feel like you have tricked them. But it doesn’t need to be anything more than this.
# 3 – Free + Shipping
When the distance is a problem, one strategy used by many companies is “Free + Shipping”. In order to attract clients, you can give your product for free but charge them for the shipping.
This way, they are still paying for it, so it creates the connection and engagement you wish. But it won’t be a high price, as it would destroy the point of using Tripwire Marketing here.
# 4 – A Course or Webinar
If you are in the educational industry, you can offer a course or webinar as a low-ticket item. Of course, you won’t provide your core product or any other course for little money.
But you will get them to pay you for a beginners course, or a two-hour webinar, that will introduce them to some basic skills. And if they are still interested after it, they can go to the next level by signing to your intermediate and advanced course. Simple like this.
# 5 – A Piece of your Core Product
In the case that your core product can be broken into smaller pieces, you can do it to create a low-ticket product. If you are, for example, a beautician that provides a full body detox, you can sell the deep cleanse step as a low-ticket.
This is a great way to increase the chances that your customers will buy your core product in the future, as they already had a taste of it when the offer comes.
# 6 – A free-trial
The favourite of apps and online services, a free-trial is one of the best ways to provide a low-ticket item in this industry.
Just bear in mind that we aren’t talking here about giving one month of free access to your online tool or something similar. We are talking about asking them to pay something to have limited access to it.
You can charge, for example, for having access to a small part of your content, or all of it without extra (and more valuable) features. Just to illustrate, you can see the entire Tripwire Marketing process on tools that offer a Basic (free bait), a Pro (low-ticket), and a Premium (core product) plan.
# 7 – Consultation
If you are a consultant of some kind, you can offer a 30-minute consultation over the phone or Skype as a low-ticket item. It will be like getting paid to prospect instead of cold-calling, a great option indeed. And as soon as they get to know you, you will have the opportunity to sell a much more expensive and long-term consultation contract.
But you don’t need to be a consultant to use this sort of low ticket. All you will have to do is to understand your business well enough so you can give them tips and insights about it. For instance, if you are a travel agency, you can offer a cheap consultation on best accommodation or places to eat or visa requirements.
The bottom line: Why just not give it away for free in the first place?
After reading all this, you might be thinking that it is too much work. That you could cut one step out of the list and go from subscribers straight to the core product.
Well, yes, you can do it, and it will work sometimes. But the thing is that you gave them something for free, so they are very likely to think that you should continue like this and give as much free stuff as possible.
Plus, nobody falls for freebies, only for what they have worked hard for it. Opening your wallet and typing your credit card details in a form ensure that people will remember your brand. It will also set apart those who actually want to buy your product – they are just not sure yet – from those who are just hunting free stuff online.
That is to say that a low-price ticket can mean extra work, but it will increase the quality of your customers, and increase your chances of conversions. So make the most of what Tripwire Marketing has to teach you from now on. You won’t regret.