The Perfect Tripwire | Marketer Monday 33

When should you create a tripwire and how can you create a tripwire that actually serves it’s purpose? (brining qualified buyers into your business).

I answer this question plus more in todays episode of Marketer Monday.

You will learn when you should create a tripwire AND the easiest way to do so.

I give tripwire examples for info-products (online courses), physical products (eCommerce), and Software (SaaS).

Links From This Video:
– The Break Even Funnel: https://www.youtube.com/watch?v=CC_w_…
– The Primary Offer Funnel: https://www.youtube.com/watch?v=DVtCn…

All Previous Episodes Of Marketer Monday:
https://www.youtube.com/watch?v=kmRdL…

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I’d love to hear how you create tripwire products. Do you use a similar strategy or are you doing anything different?

Let me know in the comments below!

Transcription

Hey, what’s up guys? Anton here from Performance Marketer and, listen, if you’ve been following any of my companies for any amount of time – Performance Marketer, Dropship Lifestyle, Membership Site Masters – any of the ones I publicly talk about, you’re probably aware that we put a lot of content out, right? And with our content, we really have a few different types that we create and that we distribute. Now, the first type of content that we make is what I would call a “Lead Generator”. Okay, I’m just going to write “LG” and you can know that means “Lead Generator”. Now, this is free, okay? So these are things we don’t have to charge for at all. So, I’m just going to write “free”. Now, if you’re wondering why we create content and put it out for free, it’s on obviously so that we can build an audience. So all of this content is really centered around the fact that, “Hey, we know what we’re talking about. Here’s something of value that you can really take in and use and start building that relationship, right, of you become someone that wants to learn or buy or interact from with us.

[0:55]

Now, after lead generators that’s where the second type of product comes into play. Now, we either call it a “Liquidator” and mostly, I guess in internet marketing space, if this is the industry you’re in, this is referred to as a “trip wire”, okay? Now, these products are, when they actually start selling, when you actually start asking for money. Now, typically these are sold between $7-$97. Now, yeah, that’s a pretty wide range but it’s because there are lots of different product types that would fall into this space. These would be things like, you know, short video courses, or if you’re in the physical product space there’d be like, little different, kind of like a, just, I don’t know, passion products that people get excited about and want to buy right away. Something you’re selling, not as the end-all-be-all to your business, but something you’re selling to get people into your world. So people are buying these, basically, because it’s something that’s cheap, it’s an impulse buy and that’s why they buy it but you sell that because you want them to buy this, become a customer of your business and then eventually have them ascend to buying your main products, right?

[2:01]

Now, whatever that may be, if you’re in the physical product space, this would be your expensive products. You know, if you’re in the information products space, this might be your online course or your membership site. If you’re in the software space, this might be your highest tier your package. So, basically you’re walking people through this transition process, trying to get them to buy this product because this product, guys, this is where the money’s made, right? This is where your business is going to thrive and even beyond, right? Maybe you have a profit maximizer on the back end, but this is where the money’s made.

[2:30]

So, as I say that you might be wondering, “Well, then why would I even have this?”, right? And again, it’s to get people indoctrinated to your brand, it’s to build a customer base, but the problem that I see and the reason that I wanted to make this video is that I see too many people start here, okay? While I do believe in the concept of liquidators, while I do believe in tripwires and having these products, obviously if you follow my businesses, you know we have them, the problem that I see, time and time again, even from people that have been in the whole online marketing world for a while is that they start here, okay? They say, “I want to create a new product on…” whatever it is. Let’s say I want to build a new product on teaching people how to build membership sites and then they’ll start with, “I want to create my small ticket product and build a list of customers.” So they make this first and they start trying to sell that, without having this thing in place. Now, that’s a problem for a couple of reasons. Remember, this is where the money is made, okay? This is where most of your business, profit, and revenue will come from. But the real problem is that when people try to create these ahead of time, they make this, not only too much, like too much of a product, but they typically take away from what would be here and don’t give someone the progression they would need to get from here to here.

[3:40]

Now, let me give you an example in the info space. As you probably know, I have an online course called Dropship Lifestyle, right? So Dropship Lifestyle is my primary offer in that business. It’s our full course, has all of our softwares, all of our trainings, has our private communities, our live events – that’s the main thing, right? That’s the main product. Now, with our liquidator products there, these were created after the fact. So what we did, for our liquidators, in fact, our best converting liquidator is actually Module 1 of this online course. Okay, so, this is really how simple this could be. If you make your main product first, what’s the first step that someone would need to take? It’s probably your first module. If you’re an online course builder, make module one your trip wire. So literally pull out module one of whatever your product is and that becomes your trip wire. Now, if you see what’s happening here, the people that purchase this, they’ll get to learn that first thing from you, right? They’ll get the first step of the process and what are they going to naturally want to do next? They’re going to want to learn step two and step three and step four. So of course, if they can afford it, of course, if they actually like what you had to say in module one, then they’ll ascend and they’ll buy your main thing.

[4:50]

Now, again, the main reason I wanted to make this video and talk about it is because the thing I see people do, which is wrong, is start with saying, “Okay, I’m not going to create this yet, because it does take a lot of time, a lot of effort, a lot of work, so let me make this.” And what they do instead of making it the starting point, is they basically create a watered down version of their main thing. So, as you can see in this example that I’m sharing with you right here, this is module one of the main product. It’s not, you know, it’s not a light version, right? This course, Dropship Lifestyle, has module seven and this isn’t a light version of modules one to seven covering everything that I teach in there. No, because if I did that what would happen? People would either think they already knew everything, right? And didn’t have to ascend or even worse, they buy it, think it was the whole thing because I teach everything and they would think, “Well, this isn’t enough. I’m missing something.” And then they have to buy a whole course to get the whole thing again? It doesn’t make sense. So that’s why, guys, if you’re in the online course space, whatever it is you’re doing, don’t start here, okay? You can even have this, like the main thing. Sell your main thing as a, however long you want to, because this, honestly, is good to have. Again, we do it. I do believe in it but it’s not necessary and it’s definitely not where you want to start. You always work backwards from your highest level product. What’s the thing that you could serve people the best that you can offer? Then work backwards. Then you take module one out and watch this, I’m going to take it a step back.

[6:13]

So, guys, in the Dropship Lifestyle example, the main product, right? Primary offer is Dropship Lifestyle. The liquidator product is module one and the lead generators, those things that we give out for free, great one that we have is called the 187 Niches and that is part of Module One, okay? So as you see we’ve stepped further and further back. This allows people to get into our brand at very early levels, learn a little bit, learn it all. So if you want to look at different examples of how you could do this in different industries, let’s just say that your main product was like a drum kit. Let’s say you’re in ecommerce and you sold drum sets. Maybe this trip wire product or the thing that you have to offer here is like a DVD course or online videos about, you know, introductory to drums, how to play drums or maybe it’s actually like, like a drum pad. You know, those little circle things? I don’t know. I had one when I was a kid but you could practice on. So you sell those first, the less expensive product, someone gets that then they can eventually ascend to buying your whole drum set. And if that was your business model, maybe the thing you pull out for free is, you know, a buyer’s guide for how to pick your perfect drum set or buyer’s pads or where to get started if you want to buy a drum set. So, more examples, guys. I can keep going with this because it’s something once you realize it and once you grasp this concept you see it more and more in every industry.

[7:30]

But if your main thing was, again, like a suite of software, maybe you had a software for people at different levels and usually the way people do it is they make tiers. So the top tier includes all the features. Then the middle tier will include, like you know, maybe half of them, or maybe or like the beginner levels and then their free product may be something like a seven-day free trial, a fourteen-day free trial. So even though, when I drew this out I gave you the example of an information product business, yes it works with physical products, yes it works with software. Trip wires are again a great idea, whether you want to call them trip wires, liquidators. But remember, don’t make this first. This should not be the product that you introduce to the world. Not only because it won’t make you money, because there’s not enough product in there, especially if you’re running paid traffic, which you should be but that’s another story, mainly because you’re going to not know what it should be until you have your main product. Know where the money is coming from first, whether that be your drum set, your full software suite, your online course, then work backward.

[8:27]

Guys, I hope you got value from that. Again, I hope you, I’ve been wanting to make this one because I’ve been talking to a lot of people recently, going to different Mastermind events and this is one reoccurring problem. Hopefully people that have been struggling with that are watching this video. Hopefully you actually implement what I’m saying because guys, I’ve been doing this for year and it works. And with that being said, if you did get value please subscribe to our Youtube channel and definitely give it a like. Really helps the channel. We’ve been building a lot of subscribers recently, which is awesome and if you keep liking it, that’ll keep continuing and I can keep making these videos. So, again, hope you got value. Thank you for watching and I’ll see you next week for Marketer Monday.

 

Anton Kraly
 

Anton is a the Founder & CEO of Performance Marketer - a place where decades of real world marketing experience is shared. He began building business online in 2007 and has built and sold multiple seven-figure businesses.

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