MLMT 202: Get Buyers To Pull Out Their Wallets
MLM Trigger Episode #202
We talked about a hidden network marketing strategy that can be used for your business and today let's explore what a tripwire funnel is and how to use it in your MLM sales funnel strategy.
A tripwire funnel is a popular type of sales funnels for one good reason… it WORKS. It’s a valuable tool in your overall MLM marketing strategy to attract and convert website visitors into buyers.
Even though tripwires have been around for decades, many people are still confused about how to use them. A tripwire is a low-cost introductory offer specifically designed to convert cold traffic into paying customers. In other words, you use a tripwire to warm your prospects up to purchasing your core product or service.
LISTEN: ▶️ Get Buyers To Pull Out Their Wallets
The goal of a tripwire is twofold. The first goal is to quickly increase your customer base by converting cold leads into buying customers. And the second goal is to identify qualifying leads who are more likely to spend money on your products, services or join your team.
And once a customer takes up your tripwire offer, you can up-sell them complementary offers leading to your core products or opportunity.
This works because of the fact that it’s much easier to sell to existing customers who have purchased and used your product/service than to a new customer who has no idea who you are.
Let’s say your goal is to sell your MLM product priced at $150. If that’s your initial offer, people will be hesitant to buy because for one, the product cost is very high, and they also don’t know who you are or how this product actually can work for them.
So instead, you make your initial offer as a tripwire.
You give them a smaller sample at a highly discounted rate instead of the actual rate or tell them that the product is free but ask them to pay for the shipping… making this a no-brainer deal.
Once a customer takes you up on the tripwire offer, you can then up-sell them slightly with a product of your company that is less than $100. And if they take you up on that, you can sell them your core offer at $150.
Not every person who takes up your tripwire offer is going to end up buying your core product, but some of them will (which will also lead to repeat transactions) maybe even joining your opportunity.
So even though you might incur a small loss initially, as part of your low-cost tripwire offer but eventually you will end up making a whole lot more going forward.
Now you might be thinking, why not give it away for free?
Well, by giving away the product for free, you will get a lot more leads, but there is no way to figure out if these leads will be interested to buy your products. Instead, when you put a price tag on it and someone buys your product, they become a buying customer and it’s much easier to sell to existing customers.
So a tripwire offer helps you identify buyers. It helps you separate the one who are looking for what you have from the one who just want to get a bargain and are not really interested.
When your customers make a purchase, your job does not end there. Instead, it actually starts from here. Remember, the tripwire sales funnel is just a way to bring customers to your door. The rest has to be done by you only. The tripwire funnels allow you to test what your market is looking for.
So, why use a tripwire funnel?
Because it fills your email list with buyers. When someone purchases from you for the first time, they begin to develop their relationship with you via your email communications, social media and your website resources.
This means that they are more emotionally connected to what you offer next whether it’s paid or free content. They are more likely to buy from you again.
Tripwire funnels allow you to test what your market is looking for. When you offer a selection of products, you will see which topics interest your buyers the most and customize your follow up communications with them. This means that you target only those MLM prospects who seek a specific solution to their problems.
When you get your tripwire offer right, people are thrilled that you gave away so much value. You’ll create happy and loyal followers when you consistently provide them with high-quality material at a no-pain price point.
A tripwire offer is the best example of a small commitment which are easier for people to accept because they’re allowed to make smaller decisions over time. Your prospect signs up for your mailing list, buys a small product and then bigger one. It leads your customer to comfortably complete a larger commitment in the future.
So if you have never used tripwire funnel before, then it’s time you give it a try.
It's certain you will fall in love with this marketing tactic.
LISTEN: ▶️ Get Buyers To Pull Out Their Wallets
May you be wealthier,
-Corine-
The top producers in MLM don't make a list of 200 people, don't do home meetings or anything like that. They use something equivalent of a sales funnels.