Here at The Art Of Selling Online Courses we share winning strategies and secret hacks on how to dramatically increase your sales.
On this episode we'll look at the tripwire funnel, a simple funnel that can help you get higher qualified leads while also putting some cash in your pocket!
On this channel I aim to provide content creators the information and resources they need to master the art of selling online courses!
If you're interested in growing your online course sales and funnel optimisation contact us at https://datadrivenmarketing.co/
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This one automated funnel can make you money while you sleep. Three to ten percent of people through this funnel will buy from you the highest conversion rate you're going to see anywhere, and people who buy from you in this funnel are going to be 22 times more likely to buy something else from you in the future. This is called a tripwire funnel, and it's called a tripwire because it's something that is such a great value such a great deal that people almost trip over it as they're coming into your business. I learned about this from Ryan Dice over at Digital Market, and he's the one who originally named this funnel. He wanted to make one funnel that was so straightforward that anybody could do it. What most people do is they have their lead magnet on their website. It's something for free that people can get if they sign up for the newsletter, and then the confirmation page of that is just a download of the lead magnet, and it's a massive mistake. That confirmation page is one of the most valuable pages you have in your entire funnel, Because at this point, you've really got people's attention. They've signed up for your lead magnet, they're excited, they want to hear from you and if on this page, instead, what you do is you offer them something to buy great discount, a great product, the perfect thing for them to get first. Then 3 to 10 percent of people will buy that straight away. I'll explain the whole funnel, how that all works and what you can do to make that happen.
Speaker 0:
The step one is you've got that confirmation page and you have a sales page, but you're offering something that is this massive discount down to like 17, 27, $47. Something kind of like that. You want to choose something. That is a perfect fit. It should lead seamlessly from the lead magnet into this. So, for example, you've got a client who gives away five free meditations and then the confirmation page they offer 30 meditations for $27. So it's a perfect fit. The people who've just signed up for the free meditations obviously like meditations. Now you're offering them to get more for a small amount of money a great discount. So that's the kind of thing that you have available on the confirmation page.
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Now you want to give people some urgency here. So you have a 30 minute countdown timer. So on that confirmation page it says this discount is only going to be available for 30 minutes. You need to buy this straight away. If people don't buy after that 30 minutes, they leave the page. They don't come back. Then you have a series of follow up emails three follow up emails that say missed out on that amazing discount. We're going to offer you nearly as good of a discount for the next 48 hours and you have the countdown timer within the emails. For 48 hours. You have it on this new version of the sales page sharing 48 hour countdown timer. You can use deadline for all. It's a really, really good system to allow you to run those timers.
Speaker 0:
Now, in those emails you're talking about the benefits of this tripwire product, why this is going to be great, what they can get from it, the fact that there's urgency on it. You give people a reminder of case studies and testimonials and this kind of thing that might have been mentioned on the sales page, pointing them back here again. The next step is then the checkout page, and there you need to have the six crucial elements of a checkout page, which you've probably seen in my other videos, and so you're going to have a high converting checkout page. Then you have the order bump. Then you have an upsell, which I've talked about previously as well. Now you might, at this stage, even have a second upsell. A second upsell is not something we recommend very often, but here it can be really, really worthwhile, and I'll talk you through why.
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What we've talked about so far is how you build this front end funnel, but one of the major major benefits of this is that you've then got the ability, if you make money back straight away, to be able to scale with ads. If you have new people signing up to your email list and then you make money back straight away, that means you could spend money on ads to point people in, you make the money back, you reinvest that in ads. If you do that, what happens is you grow your email list, even if you didn't make any profit at the front end, Even if you don't actually make a profit. You've now got a bigger email list, which means the next time you run an email promotion, you make more money there and you make more money the next month. More money the next month because you're growing your whole email list, which is the major part of where you make money in the business.
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Like it's just incredible, right. So that's why you might have the second up sale, because every single optimization that you can make on this front end funnel means you make a little bit more money back, which means that you can then scale the ads further. And this starts to get really advanced, because if you can scale your front end funnel to be 50% of extra revenue, it doesn't just mean that you can scale your ads 50% higher. It means you could probably double them or triple them. So overall, what you've now got is more money in your business potential to scale and people are then more likely to buy from you. So it's a fantastic funnel to build the trip wire funnel.