Hey guys! Zach here again. Today I’m going to be answering a couple of the questions that I got regarding tripwire offers. First off, let’s start by going into what is a tripwire. Well a tripwire or lead magnet (as some call it) is usually something $10 or less.
What is a Tripwire Offer?
So anything under $10 is considered a tripwire or lead magnet offer. The reason being is, that price point is usually easy to say yes to. And you don’t need to build up a lot of reasons of why they should buy it. See just a simple reason usually one is enough. Because people will easily buy things if they see a low price point. Even if it’s something that they’re not too sure about, it’s a small risk so they’re willing to pull out their wallets. Maybe they lose 10 bucks but hopefully they’ll get some awesome value. Especially if you give a guarantee and you simply say hey if you don’t like it we’ll give you your money back.
How Does a Tripwire Offer Work?
What ends up happening is, a lot of people say yes to tripwire offers. Because that initial offer is so good that they can’t pass it up. Usually a lead magnet or tripwire isn’t a large offer. It could be a mini-course or you know 1 or maybe up to 3 modules of a larger course you offer. So the tripwire is actually going to be a segmentation or a piece of one of your main core products. It doesn’t have to be, but I find it’s an easy way to give amazing value and cut down on work.
So you don’t have to recreate anything. It’s just you taking one course that has the foundations, and if they like this then they’re going to love the rest of the course. Which they can unlock for say 30 more dollars and that’s your $37 product or maybe 90 more dollars That’s your $97 product. You’re just simply saying this right here is going to link into all of this you’ll learn in the full course.
It’s really easy for people to say yes to something when they’re able to try you out at a low price point. That’s why it’s called tripwire offer. They first see the offer, then when they see the price they fall over it and it’s very easy for them to say yes. The tripwire offer is where they are they’re make that initial purchase.
How Much Should I Be Spending to Get a Customer?
You can end up spending much more than what you say the actual product front end costs. Deciding if this is profitable or not depends on your average cart value. So what you’ll probably end up doing is breaking even. You’re first time round or you’re probably going to lose a little bit of money on the front-end. That’s okay – it’s completely normal. Remember amateurs focus on the front-end. Professionals focus on the back-end. You want to find out what your average cart value or average customer value is ASAP. You want to make the average cart value or average customer value higher than whatever you’re paying to get them to sign up.
He Who Can Spend More to Get a Customer – Wins!
Personally, I can spend twenty dollars for someone to buy my book as long as I have higher priced up sells or one time offers that occur after the initial purchase has been made. After that, there’s so much more leverage for someone to say yes again. Because #1 – they already said ‘yes’ once and #2 – 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 I offer another closely related up sell. I say “Hey would you like this traffic mastery course or membership program for $27 every month”, ect.
Great, so how does this make me more money?
Now let’s face it less that $10 tripwire probably isn’t going to put a lot of food on the table, right? So that means we need to increase our profit margins with up sells. All of these up sells can end up increasing your average cart value per customer. So you can go on to spend more to acquire more new customers. I don’t suggest using continuity programs as up sells right off the bat. But it’s something you can do. There’s multiple scenarios you can use. You can say “Hey come apply for my coaching program (which is a high value a high ticket offer) or you can offer another one time offer. Do not offer more than 2 up sells! My offers are usually priced between $27 and $1,997 so you know there’s some.
How to Achieve a Break-Even Point
Again, all of these up sells can be offered in different ways that will increase your average cart value. That’s the whole point. In case you’re wondering, even if it costs us $20 to acquire our first customer – that’s perfectly fine. Because that’s an equivalent exchange. Now that I have that tripwire offer, we’re going to build our value ladder out. So the tripwire will do what it is supposed to – break us even with $1 in – $1 out.
So that’s how to achieve your break-even point. Then from here is our mid ticket and our back end. It may be coaching and at the bottom here like I’ve talked about ealier. You want a continuity program somewhere in your value ladder. Whether it’s unlimited or six to twelve months long either way you need a continuity. When you have all of these things setup, then that tripwire that you’ve placed up front will start breaking you even.
Real Life Example of My Own Tripwire Offer
Keep in mind, it costs me $20 to get a customer to buy my book “Sales Funnel Secrets.” On average once they reach the checkout, 15% percent buy and then 18% go on to buy the up sells. So if you can spend $10,000 and as long as you have those numbers properly figured out, you’ll make at least $10,000 back this month. What does that do for you? Well that means that you make nothing. But guess what? You break even. And out of $10,000 spent I probably got somewhere between 200 to 250 buyers. So that’s 250 people that know me, like me, trust me and are willing to buy from me again.
Cut Your Work time in Half with My Sales Funnel Templates
With the use of click funnels I’m going to save you a lot of time. Go to Zach-Miller.com/clickfunnels you can get a lot of my funnels. This is going to help you so you can end up saving that credit card information. Now all they have to do is click one time one time one time and then whether it’s for like my mid ticket like I teach you guys $997 whether it’s the Coaching It’s $25,000 or whether it is the continuity between you know 20 and $200 and that’s a month.
So all of these up sell are just one click and then bam those are purchases instantly made. So you’re getting the upper hand. You don’t have to ask them for their credit card information again it’s so easier to get them to buy more products and it all begins with that tripwire.
Summary of a Tripwire Offer
So I hope I explained to you guys what the tripwire is how it acts, how it builds into your business and where it all fits together. So that you can leverage and build a large customer base. Now two hundred fifty people that like you, know you, trust you and all that they have to do is say yes one time by clicking a button to buy your next product.
And guess what? you send your offer to 250 people to your mid ticket usually a couple days right after they’ve gotten done going through your product. Which again takes about forty eight seventy two hours no matter how big it is and you offer them that next product – that next thing to do. You’re going to take a high percentage of those buyers now and since they already have identified themselves as the people to raise their hand and say take my credit card 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.