If you have read some of our Tips & Trends articles in
the past, you may have seen us refer to Lead Magnets, Tripwires, or Profit Maximizer Offers.
These are industry terms for different types of offers that can
come from your business.
Here is the breakdown of those terms and how they take your
customers through your sales funnel.
Lead Magnets
Lead Magnets are usually the first step in the process to
draw in new leads. They are usually free and can include informational or
helpful materials that relate to your business, such as:
Tripwires
Tripwires are the next step in the process. After a prospect
has turned into a lead by taking advantage of one of your Lead Magnets, you can
turn them into a customer by making them a low-cost, relatively painless offer.
Then once they are in your sales funnel, you can try to offer other products
and services to them.
This type of offer varies immensely depending on what type
of business you have.
Let’s use a personal trainer who caters to women looking to
lose weight as an example.
If their Lead Magnet is a 5-minute workout video that helps
melt fat and build muscle, a great Tripwires could include a smoothie recipe
booklet for weight loss and a video of 10 cardio moves to melt fat. Once they
purchase this low cost offer, the personal trainer could then upsell into their
signature 6-month program.
Profit Maximizer Offers
Taking cold traffic, who has never heard of you or your
business straight to a profit maximizer (high-dollar) offer without going
through a complete customer journey can really turn off some people who may
otherwise be interested in your product or service.
By taking your prospects from leads to low-risk customers
first, you build trust and reassure them in your knowledge and expertise before
asking them to put the big bucks into your business.
Your high-dollar offers are usually the end goal in your
customer journey, although you can have more than one.
But there’s one trick we still haven’t shared…
One Easy Way to
Increase the Value of Your Offer
No matter which step of the sales funnel you are looking to
enhance, there’s one simple way to increase the value of your offer.
Add a bonus!
Your offers are not likely to be effective if people don’t
feel like they are getting enough value for what they are providing. Their
information is valuable. So your lead magnet needs to be valuable.
If people don’t respond to your offer, that can mean they
don’t get enough value for providing their info in exchange for your Lead
Magnet. It can also mean they don’t feel like your offer, or it can mean that
your high dollar offer is just too big of a jump before they are sure that you
can be trusted.
By adding a bonus to any of your offers you increase the
chances of your prospects taking action and moving to the next step in your
funnel.
If you’re struggling to get leads to your business or moving
them into higher revenue generating offers, it might be time to take a look at
your offers and see where value can be added in.
If you’d like help discovering what could work for your
business, call Sales & Marketing Technologies today at (407) 682-2222 for a
free consultation with one of our marketing experts.