A marketing funnel is great. A tripwire is great. Using them together, however, will supercharge your conversion rates.
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What a Marketing Funnel Is
A marketing funnel is the process where people go from just discovering your brand to buying your goods and services. The stages are
- Gaining awareness of your brand
- Gaining interest in your brand
- Gaining desire for what your brand offers
- Taking action (buying a product/service)
Marketers use tools to nurture leads along each stage of the funnel. Visitors to your site can give their email in exchange for a free downloadable guide (gaining awareness). A follow-up email gives them a curated list of relevant blog articles on the site (gaining interest). A follow-up email to that gives them a case study showing the benefits of your products/services (gaining desire). A follow-up email to that gives them a coupon to buy your products/services (taking action).
Marketing efforts should be done to coax people along this funnel. After all, if you aren’t driving sales eventually what is the purpose of your marketing?
What a Tripwire Is
A tripwire is a strategic way to get people to enter into your funnel. You present a potential customer with an appealing low-risk and low-cost offer. Think of those e-books sold for $1 or a marketing course sold for $10. The deal is too good to pass up!
Tripwires play off of human psychology. We have an inherent need to view our behavior as consistent. If we agree to a small request, we are much more likely to agree to a larger similar request (think about when you find yourself agreeing to help a friend move after agreeing to give him a ride the other day).
When customers make a small purchase with us, they become significantly more likely to make a larger purchase with us. In fact, many companies actually offer tripwires where they lose money initially. They know they will gain it back soon with larger purchases.
Using a Tripwire and Marketing Funnel Together
These two marketing tactics work hand-in-hand in a circular relationship.
- A marketing funnel directs to the tripwire. Before a customer can act on the trip wire,
they need to know it exists. Insert the marketing funnel! You can use the marketing funnel to direct people to the end action: acting on the trip wire. Social media, blog posts, emails can all give that push towards buying the trip wire. Not everyone will make it from gaining awareness to making that purchase. But strategic marketing can help get more people to that purchasing point. - A tripwire directs people to the marketing funnel. It’s like there are two marketing funnels. A small one designed to get the tripwire bought. Then a larger one designed to get those big purchases where your income comes from. A tripwire can be the first stage of the marketing funnel: awareness. Maybe the customer knew nothing of your brand. But they say your discount Udemy course (the tripwire). After purchasing the course, they became aware of your brand. Then they received targeted emails providing valuable content (generating that interest). Then they received more targeted emails describing your products/services (generating that desire) before being prompted to act (generating that action). This customer went through your marketing funnel because of your tripwire.
- A tripwire increases the chances of purchases. Remember the main benefit of a tripwire? It increases the chances of people making larger purchases with your organization. A tripwire does more than guide people to your marketing funnel. It increases the chances they make it to the final stage of the funnel!
Creating tripwires and marketing funnels are an important part of your sales strategy. But they can be a bit tricky for novices to create. That’s where Alpine Small Business Solutions is here for you! We provide sales funnel services using the tripwire and marketing funnel to effectively increase your conversion rates. Give us a call or shoot us an email to chat about your options today!