How to Use Tripwire Funnels to Maximize Your ROI
Laura Farkas Tuesday, February 12, 2019
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If you have been trying to automate your sales funnels and your digital marketing, you might have set up a simple, one-dimensional conversion funnel, focusing on one goal in mind. Whether you have a webinar to promote in order to entice people to purchase a high ticket item, or you are an affiliate, you will need to maximize your conversions and the worth of each customer. The Tripwire Funnel is the perfect solution if you have multiple products or services, would like to keep your audience engaged until they are ready to buy, and to increase your return on your marketing investment. Below you will find a few tips on how to get started creating a tripwire funnel.
The Tripwire Funnel is a perfect way of segmenting your market and identifying people at every stage of your sales funnel. For example, let’s say that you are giving away a free course that allows you to add people to your autoresponder. That’s fine, but you will not make money initially. That is why you might want to add links to your paid products in your eBook and design your Thank You page in a way that it entices further interest. If they have downloaded the free product, they are in the first stage of your sales funnel. However, if they took on the one-time offer and paid for a low ticket item, they are further down. You don’t want to send the same emails to them. You want to tailor your messages based on where they are positioned in your sales funnel, to maximize your digital marketing conversions. Adding an upsell or downsell page can increase your order size and your revenues significantly.
Upsell and Downsell
Years ago, you might have heard a lot about the importance of upselling or downsell, but it is complicated to set up a funnel when you are just starting with digital marketing. A downsell happens when someone is presented with an offer, a sales page, or a sales letter and clicks away. You can either use popups (less popular these days) or add them to a special list for retargeting. Just because they didn’t have $97 to spend on your training, they might still be interested in your $37 eBook later in time. An upsell is another powerful tool in digital marketing. You might have closed that sale of $97, but what if you could squeeze more money out of your customer by making an irresistible offer on the Thank You page?
I have recently been through training from Anik Singal, and he confessed that adding webinar replays has made him multiple his profits. If you are doing Facebook Lives or webinars, you might be collecting the email address of people interested at the registration page. However, life happens, people get busy or forget, and they will not turn up. If you know who registered and didn’t make it, or had to leave early, you can let your autoresponder to send out a link to your replay. After all, you don’t want to leave these warm leads just hanging there.
It is important that you find the right balance between promotional content and value. However, this doesn’t mean that you should not take advantage of extra sales opportunities whenever you can. For example, sending out automated emails to your subscribers who signed up for your free offer can include links to sales videos, teasers, and even your social media page where you are promoting your low ticket or high ticket items. This will give you the opportunity to increase their engagement with your brand and create awareness, interest, demand, and eventually make them take action (AIDA).
Making Clients Feel Special
The key to setting up tripwire sales funnels is that you want to make clients and subscribers feel special. Don’t just present them with a generic offer; give them something exclusive. Make it clear that there is a time or quantity limit and they need to take action to get the most value right now. Throwing in bonuses is also a good way of increasing your conversion rates.
Simple sales funnels work well when all you want to do is automate your digital marketing. Once you have them in place, however, you need to aim for continuous improvement and start working smarter instead of harder. This is where building Tripwire funnels can help.
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