What Is a Tripwire Offer?
Hey, Zach here again and today I’m going to be answering a couple of the questions that I got regarding Tripwire offers.
First off, let’s start off with what is a Tripwire offer. A Tripwire is usually something [sold for] $10 or less.
Anything under $10 is considered a Tripwire offer. The reason being is that that price point that threshold is usually falling in line with something that’s easy to say yes to without building up a lot of reasons of why they should buy it.
See, just a simple reason is you me or who I am, or I’m offering this information it helps these types of people. That’s about as simple as it gets because when people see a low price point, even if it’s something that they’re not too trustworthy about, they’re willing to shill out their credit card and lose 10 bucks. Especially if you give a guarantee and you simply say, “Hey if you don’t like it ask me for your money back.” and that’s all.
“How To” Tripwire
That’s cool too, but what ends up happening is a lot of people say “yes” because that initial offer is so good that they can’t pass it up. And usually a Tripwire isn’t a large course; it’s actually something where most people will probably have somewhere between three and four modules. So let’s just say that you have six modules and you’re doing kind of like a micro Continuity course or something like that.
You know it’s a large [undertaking] to teach whatever you’re going to with JUST the Tripwire . So you’re going to just take one of these [modules] and bring it down [as a Front-End] and then that’s what’s going to be offered for sale [as a Tripwire].
The Tripwire is going to be a segmentation, also known as a Splinter, of one of your main or core products. So again, it’s not you recreating anything, it’s not you redoing or having to edit [materials].
It’s just you taking one course section [or module] and just going, “BOOM! This is the most important thing I’d like you guys to learn and know and if you like this then you’re going to love the rest of my course.” Which you can unlock for say $30 and that’s your $37 product or maybe $90 and that’s your $97 product. You’re just simply saying this right here [the Tripwire] is going to link into all of this over here [the full course].
So it’s a really easy thing to say “yes” to. People get the hang of it. They’re able to say “yes” to a low offer like that, that’s why it’s called [a] Tripwire. They’re looking at the offer, they’re not looking at the price. Then so they fall over. It’s very easy to say “yes” to you with this.
What Happens After a Tripwire?
From the Tripwire what’s going to happen, is they’re making that initial purchase here right. And let’s face it, less than $10 is probably not going to give you a lot of food on the table. What’s probably going to end up doing is breaking you even if you’re lucky or probably losing a little bit of money.
What you want to find out, is what the (ACV), average cart value or average customer value is. And you want to make this [ACV] higher than whatever this number is you end up spending. Because you’ll end up spending much more than what the Front-End costs.
I can spend sometimes twenty dollars for someone [to convert] as long as I have what I consider upsells or [OTOs] One Time Offers that occur after the purchase has been made.
After that fact, then there’s so much more leverage for someone to say “yes” because: A) I already have their credit card information so now when I ask, “Hey would you like to unlock the rest of this course for $90” and then [B)] I offer another upsell and I say, “Hey would you like this membership program for $27 every month?”
The ‘Bigger Picture’ of Tripwire Products
All of these things can end up building up [the ACV]. Now, I don’t suggest continuities right off the bat, but that’s something you can do. There’s multiple scenarios.
You can even say, “Hey come get my coaching.” and that’s a high value or high-ticket offer. Or you can offer another One Time Offer for $27-$37 dollars. Most of my offers are usually between $27 and $1997, so you know there’s some room on price for your offer.
So all of these [products] can be offered in different ways, upsells, downsells, One Time Offers will increase your average cart value [ACV], which is the totality of all these products combined.
And that’s going to give you this number right here. Which again, is ACV. In case you’re wondering, this [cost to acquire a new customer] can end up being $20. Then that’s a perfect equivalent exchange of [ACV to] what it costs to get a customer.
Once I have that Tripwire done, again what are we going to do, we’re building our VALUE LADDER! So the Tripwire-it’s supposed to break us even.
So that’s our breakeven point, right? And then from here [the Tripwire], there is our Mid-Ticket and there’s our Back End. The Back End, which you know may be coaching [or a large service], and at the bottom [of The Value Ladder] like I’ve talked about you want a Continuity Program. Whether it’s unlimited [or never-ending billing] or six to twelve months long. Either way, you need a Continuity Program.
The Value Ladder
When you have all of these things [as a Value Ladder], then that Tripwire that you’ve placed up-front, makes sure that [later] you start breaking even. Let’s say it cost $20 to get a customer to come through and make that first purchase. But on average once I get them [in the sales funnel], 15% buy [my OTO #1] here and then 18% buy [my OTO #2] here.
What we’re trying to do is get that conversion page/squeeze page to increase. That’s something where you’re normally asking [the prospect], “Hey, can you give me your name, your email, etcetera. And then click submit, right here.”
So if your first page that they land on [doesn’t convert well], then you need to be editing this THE MOST. This is the first thing to focus on because this is the first thing they [a prospect] lands on.
This, [your sales page] is the second thing you start optimizing. Why? It’s the second thing they are going to land on. Third, [your OTO #1] and so on and so forth.
The Best Part, Maybe?
And then, once you’ve gotten [your] Tripwire to start breaking even, then you have all of these other things: your Mid-Ticket, your Back End, your Coaching, your Continuity. All of those are going to be pure profits when you start selling to that same list that bought your Tripwire. And guess what? Because you can [break even] for every customer that buys [that Front-End], it’s free to build a [buyer’s] list.
So you can spend $10,000, and as long as you have those numbers properly figured out, then you’ll make $10,000 back this month.
What does that do for you? Well that means that you make nothing, sure. But guess what? Out of $10,000 spent I probably got somewhere between 200 to 250 buyers. Those are 2-250 people that know me, like me, trust me, and are willing to buy from me again.
BONUS! And with the use of ClickFunnels you can save their credit card information. So now all they have to do, is click one time – just one time! One time and whether it’s for your Mid-Ticket for $997. Whether it’s the Coaching that can go as high as $25,000, or whether it is a Continuity Program between $20 and $197 a month. All of these things are just one click away.
Bam! They want anything else, those are purchases instantly made so they just have to have that little threshold broken the first time. Then you don’t have to ask them for their credit card information again. It’s so easy to do all these things, and it all [starts] with that Tripwire.
So I hope I explained to you guys what the Tripwire is, how it acts, how it fits into your business, and where it all fits together [in a Value Ladder] so that you can really leverage and build a large customer base going forward.
Think how those 250 people that like you, know you, trust you, and all that they have to do is say “yes” one-time by clicking one button to buy your next product. And imagine what’ll be like when you send a new offer to these 250 people, like your Mid-Ticket.
[You’ll want to] do this a couple days after they’ve gotten done going through your product. Which takes about 48-72 hours. No matter how big it is, you want to offer them that next thing to do.
Afterwards you’re going to take a high percentage of those people, since they already have identified themselves as buyers. They raised their hands saying, “Take my credit card!” and they’re probably going to do it again. As long as you deliver on your promises. With that being said, enjoy! I wish you the best of success, and until then bye, bye.