Tripwire is basically where you sell a low-cost item that offers a lot of value to allow you to begin engaging with customers and make a good impression so they move on to buy more from you and continue being your customer.
The tripwire technique involves getting a customer into your sales funnel by obtaining them via a low-cost offer and then retaining them to upsell to them along the line. While it may seem like a harsh sounding term and a somewhat sneaky selling technique, it is actually a natural progression of the sales funnel for the consumers who enter it in this way. Here we examine how your website assists in this process.
1. Your Low-Cost Offer + Your Good Company Practice = Customer Satisfaction
If you run an online ad campaign to drive traffic to your online shop and promote sales of a low-cost product such as a pencil, you are sure to sell some pencils to some online shoppers. Let’s imagine that Bob is one such shopper and this is the first time that he has purchased from your online store. Once you as the company ensure that Bob’s product is delivered to him in perfect condition and on time, you can consider Bob as a new satisfied customer.
2. Customer Satisfaction + New Company Products = Repeat Spend
At this stage, Bob is familiar with your company having dealt with you positively. Now that he needs a pen to add to his collection, he will search online and there is a very high possibility that he will choose your online shop again – he has bought from you once before successfully and happily. If your website has collected Bob’s e-mail address after his initial purchase (with his permission of course), you can even target him directly through newsletter and mailer offers etc.. This is an example of a tripwire at work – you have obtained a new customer via a low-cost item, managed to retain them through customer satisfaction and can now target them for the possible purchase of higher ticket items.
3. Repeat Spend + Customer Loyalty = Successful Tripwire Usage
Now Bob has bought from your company numerous times and he begins to recommend your website and online shop to others who may need stationery supplies. This is an example of both word-of-mouth advertising and also of a positive testimonial about your company. Bob is a loyal customer with repeat spend credentials – so you can target him with your marketing endeavours safe in the knowledge that you are targeting a customer with a high potential of purchasing a more expensive item from your online store. You know that Bob has a pencil and pen, now is the time to promote your pencil case range to him for example.
Add Segments to the Above Step By Step Process
Using the above three steps as your basic tripwire guideline, you can now begin to segment your target consumers and the products you wish to sell to them. By introducing consumers to your sales funnel with a low-cost item, segment them into those who respond better to different types of online marketing (social media, online advertising etc.) and further segment these consumers into what types of products or services are applicable to them and their purchase history with your company.
Here at Ireland Website Design, we can not only design your company website with tripwire tendencies in mind, but also examine and implement methods to initiate your tripwire strategies and obtain customers into your sales funnel. Get in touch with us today to discuss your business website and marketing needs.