Lead magnets and tripwires are potent tools that can help you attract new customers and grow your business. They’re also known as “lead magnets” because they act as a kind of “trigger” – something that triggers an action in potential customers.
Terms Used When We Talk About Lead Magnet, Tripwire
- Lead magnet: The freebie marketers give in exchange for the email address and consent they get to send the emails.
- Tripwire: Low-cost product marketers give in exchange for the email address and consent they get to send the emails.
- Lead magnet page: A page designed to persuade a visitor to opt-in and to say “yes” to the lead magnet
- Opt-in form: Subscribe form in the blog posts and articles to persuade a visitor to give their email address and to say “yes” to the lead magnet
- Conversion rate: % of visitors who opt-in on the lead magnet page into email subscribers
Most marketers create a lead magnet or tripwire product without research to see what the market wants and then try to figure out a way to promote and sell it.
The result? 4 times out of 5, failure.
To understand the importance of the lead magnet, tripwire pays attention to this:
According to HubSpot, Marketers State That Lead Generation Is Their Top Marketing Priority
And according to wpforms, 50% of marketers who uses lead magnets report higher conversion rates with it than without it.
Also, according to HubSpot’s “State of Marketing Trends Report, 2022,” Marketers Do Not View Lead Generation As The Primary Goal Of Their Marketing Campaigns.
Marketers Struggle To Prove The Value Of Their Offers, according to Statista.
Also, according to this source, Marketers Struggle To Reach Target Audiences.
Videos Lead Magnets Convert The Best according to Get Response.
Short-Form Lead Magnets Outperform Long-Form Lead Magnets according to Get Response too.
Cold Outreach Can Be A Successful Lead Generation Method, according to Statista.
LeadQuizzes stated that online quiz has a 31.6% lead capture rate.
To create a lead magnet, tripwire product that sells, you want first to identify a hungry niche. Then, the hard work is in finding the target audience that is ready and eager to buy.
You look for the target audience not only to create the lead magnet or tripwire but to get as higher a conversion rate as possible.
Once you’ve done that, creating the lead magnet or tripwire product is the easy part. With your lead magnet, tripwire, you should offer them whatever it is that they are hungry for. Also, you know in advance that you are about to make money.
That is why the lead magnet or tripwire’s ultimate goal is to increase the email list’s size and the company’s sales.
How do you identify a hungry niche?
Here are what to look for when looking for a potential market:
Are customers in pain?
Are customers seeking relief from that pain and willing to pay for it?
Do customers have a problem?
If so, are customers willing to pay to solve that problem?
Are customers seeking a specific pleasure?
Are customers willing to pay to receive that pleasure?
I’d suggest focusing as much as you can on the first two. People will surely pay for pleasure but spend more money to eliminate pain or solve an urgent problem.
Don’t think you need to locate some excellent undiscovered niche because it’s unlikely to happen. Instead, look for competition in your potential niche as a sign that there is money to be made. Recognize that if there is no competition, it is most likely because no one is purchasing.
Then, you will let your market niche define your lead magnet or tripwire products. In other words, you’ve already identified your market. Then, you will design your lead magnet or tripwire product to meet that market’s demands instead of creating the lead magnet or tripwire product first and then identifying the market.
I’ll give you a head start in identifying a market niche eager to buy your product.
The top three most popular and competitive mega niches are…
These are great places to start, but you obviously won’t target the WHOLE health, fitness, and weight loss industry. You are marketing to no one if you are trying to reach everyone.
You will need to go further to target a specific group inside these niches.
Examples include college students who wish to lose weight. Mom stays at home and wants to make money. People who have been married for more than ten years seek to reignite their romance.
From there, you might further narrow your search. Finally, after you identify a hungry niche, you thoroughly investigate and perhaps even interview that niche to determine exactly what they desire before making an offer to them.
Do you recognize the difference between GUESSING what someone could desire and KNOWING what they will PAY FOR in advance? It will increase your bank account ten times faster than guessing ever, saving you time and frustration.
How to almost absolutely know in advance if there is a market for your lead magnet or tripwire product
You work for weeks on your latest lead magnet or tripwire product only to have low or no subscribers and sales.
What happened? You did your research and analysis, so you thought you knew what the market wanted. Yet your product bombed, and you wasted all that time creating a dud.
Could this have been prevented? Almost certainly, and here’s how:
Once you’ve done your research and you think you know what your market wants, create a mini-product. It might be a 7 to 12-page report or a 20-30 minute video or audio. Solve a problem in that mini-product, and create it in one weekend, preferably one afternoon.
For example, your research tells you gardeners are dying to know how to grow a vegetable garden on their patio. So instead of making a full-blown $37 course on how to do it, choose just ONE thing – perhaps tomatoes – and create a quick product that shows them exactly how to grow luscious tomatoes in a tiny space. (Or some such, you get the idea.)
Join FB groups related to that product. Join subreddits related to that product. Now look for the questions, answer them and offer that mini-product for sale at a mini price. Promote it if it is allowed in the groups. Write a post in the groups telling the benefit of it. What happens? If you got subscribers and sales, it tells you you are on the right track, and it’s time to work on your significant product. If it doesn’t sell, you just save yourself a whole lot of time and effort.
And you can take this one step further. Suppose your research gave you five great product ideas. Which one should you pursue? Rather than guessing, create five mini-products that solve one problem in each area, and then see which one outsells the others. THAT’S the one you should now make a great product around.
Time saved? A lot. But just as importantly, getting that mini-product out there and selling will also motivate you to work hard and fast on your big product because now you know almost for sure that it will sell and sell well.
And now, you can create a Lead Magnet or tripwire.
Why do they work so well for your business?
A lead magnet, tripwire is an incentive designed to draw people into your sales funnel. It might be a free report, a checklist, or some other type of resource. Once people download it, they’ll be primed to take action. This means they’ll be more likely to buy from you when they need your product or service.
Free lead magnets ideas
- Ebooks and reports
- Access to live events (online and offline)
- Mind maps
- Planners and calendars
According to HubSpot, 27.7% of marketers use ebooks as a lead magnet, 24.9% use webinars, and 21.3% use free tools.
Also, according to HubSpot, the average ebook lead magnet or tripwire is between 5,000 and 10,000 words long.
According to GetResponse, 58.6% of marketers stated that short-form written lead magnets have higher conversion rates (newsletters, copy examples, checklists, smaller files, ebook samples). Conversely, 41.4% said long-form written lead magnets have higher conversion rates (whitepapers, guides, reports, email courses, curated or personalized reports, spreadsheets).
Here are some ideas for tripwire lead magnets
When you think about tripwire products or services, we are talking about items no more than $27. Therefore, the most common average range for a tripwire or low ticket item would be in the $5.00 to $9.95 range.
- Special Reports
- Short Audio Sessions
- Trial Membership Offers
- Trial Software Offers
How can you create a lead magnet, tripwire for your Business?
Creating a lead magnet tripwire isn’t difficult, but it does require some planning and creativity. Here are things to keep in mind when creating one:
1) Make sure your lead magnet is relevant to your business. For example, if you sell dog food, then a lead magnet about how to train dogs might not be very effective. But, on the other hand, if you sell software, then a lead magnet with tips on how to use Excel would be much more likely to attract interest.
2) Be clear about who will receive the lead magnet. Will it go to everyone who signs up for your email list? Or just people who opt into your newsletter? It’s also essential to ensure that the lead magnet is something people want. So if you’re selling dog food, then a lead magnet, tripwire about training dogs wouldn’t be a good fit.
Read this article about buyer journey and their awareness state.
If you want the most results with your lead magnet, tripwire creates them close to the solution-aware state.
Customers know the problem; they are looking for the solution and are ready to pay. Therefore, you will get highly targeted leads interested in your product/service.
You don’t want unaware leads who will never open your emails.
3) Keep it short. People tend to skim content online, so ensure your lead magnet is no longer than 10000 words.
Follow these steps to create a compelling list magnet, tripwire.
1) List the most painful problems your ideal buyers want to solve
2) Go through the list and, for each problem, see if there are paid ads on Google and Socials. If there are a lot of ads, people are willing to pay to solve the problem.
3) Choose a problem that’s common and hard to solve and have a lot of ads for those ideal buyers
4) Make sure one of your products or services solves the problem
5) Don’t give away too much for free (in this case, people don’t need to buy)
5) Come up with the emotion your leed needs to feel to become a buyer
6) Build a CTA linked to your offer.
7) Create USP to explain why you. Put plenty of proofs (social, awards, certifications)
8) Make it to pique curiosity and desire
How to increase Lead Magnet, Tripwire conversion rate
So, you create a Lead Magnet, Tripwire, to attract new leads and customers.
To conclude, to have a higher conversion rate:
1)Don’t promise unrealistic stuff in them. People will treat them as spam
2)Explain in plain English what they will get. If there is a little confusion in the customer’s mind, they will not optin
3)Target real buyers. If you target everyone, you will get no one.
4)Make it a part of your offer.
How should you present them?
You don’t need subscribers who are not interested in your offers. Your open rate will be low, and your emails will finish in the spam or promotional folder.
So you have choices
Put your Lead Magnet, Tripwire, on your website and offer something irresistible.
Put Lead Magnet, Tripwire in your content in the blog posts.
Offer the Lead Magnet, Tripwire, with organic social media campaigns
Offer them with paid campaigns
With over 9 billion searches per day, if you optimize your landing page correctly, you will get a lot of free subscribers with your lead magnet, tripwire.
Lead Magnet or Tripwire
There is no standard rule on what to offer to get quality leads and buyers.
Yes, it is easier to grow your list with freebies, but many of them are always looking for something for free.
On the other hand, people are afraid to put their credit card data in every payment processor, even for a small sum.
Test your conversion rate and your sales rate with both of them.
Your next step
You want to create a lead magnet or tripwire product, but the process seems daunting.
I have been there. Felt that. But you know what?
There are shortcuts.
Rather than struggling to figure out what to write (or say if you’re making a video), why not follow a proven outline?
No matter your topic or niche, you’ll find this universal outline is a tremendous help for creating great products quickly, with the least fuss, hassle, and sweat. And NO tears. With step-by-step guidelines in Sales Funnel Revenue Secrets Course, even sworn non-writers can create their lead magnet and tripwire product. You will learn how to make your Buyer persona or Avatar, how to see what your competition offer,s and create a better product that sells
Do you need personal help with creating a lead magnet or tripwire, copywriting services, and marketing strategy tips according to the awareness states
Contact me at email@example.com
or book a call