This is the second article in our series on hot marketing buzzwords. The goal is to provide some clarity of these new buzzwords you may here as you become a better, more well educated marketer. Read the first article in the series, “Transparency and Personalization” here.
If you have spent any amount of time online in search of marketing strategies, then you have likely run across the term “tripwire marketing.” The term is actually quite descriptive of the process that it incorporates. Here we will discuss the basic definition of the word as well as the ways in which a marketer can incorporate it into his or her online ad program.
What exactly is tripwire marketing?
Tripwire marketing is defined as opening up a relationship with your customer based on a low cost, low risk offer that is too good to be true. There are many reasons why this is an effective strategy.
First of all, if you get your audience to open up their wallets from the start, they will be much more likely to make a purchase from you again. Contrary to popular belief, a free product does not necessarily engender the most goodwill on the market. People are socially engineered to question the free offer by asking themselves, “What is the catch?” This is not the case with a low cost offer, no matter how low the cost may be. Delivering the low cost product without a hitch tends to solidify the gravitas of the business in the eyes of the customer.
Secondly, you have the ability to make up the cost of your marketing campaign on the front end rather than on the back end. Because you are converting your customer as soon as they come into contact with you, the customer is paying for at least part of your marketing campaign.
How does the tripwire offer work?
The tripwire needs to be a high quality offer, not just something that is thrown together at the last minute. The product may be a loss leader, but it should be an excellent representation of the quality that your company offers as a whole.
The tripwire item should be physical if at all possible. Physical items still convert more readily than digital items. The price point should be relatively low depending on your market. Offering free shipping while incorporating the price of the shipping into the price is a great way to turn some heads.
You do not necessarily have to create an entirely new product for your tripwire. Many companies will simply break off a chunk of the main product and offer it up front, with the customer naturally finding the core product the next purchase.