Tripped up on tripwires? A common problem entrepreneurs face when it comes to tripwires is not seeing that their value lies in the customer they create, not the quick sale they generate. Learn why in this episode with Eden Fried.
Eden Fried ditched her plan to go to law school and started an online business instead. Fast forward a few years, and she’s mastered the art of selling digital products online and now teaches other women how to turn their passions into products they can sell online, too. She’s the host of the Rebel Boss Ladies podcast, the founder of Rebel Boss University (a membership community for product creators), and the founder and host of the Rebel Boss Summit, a twice-annual virtual summit for current or aspiring digital product creators. Check out her site here.
Navigate the Episode
00:47 – The likelihood of selling to an existing customer
02:02 – Coming up with a tripwire that will sell
02:21 – Creating urgency
Deadline Funnel – helps to create urgency by making offers expire.
[00:00:08.650] – Liz Stapleton
Today, we’re talking tripwires, which, if you don’t know, are offers made immediately after someone
signs up with their email.
[00:00:14.530] – Liz Stapleton
But the goal of tripwires isn’t to make tons of money with them directly. By the end of the episode,
you’ll know exactly what I mean.
[00:00:21.010] – Liz Stapleton
Hey, I’m Liz Stapleton from Elizabethstapleton.com and host of the Blogger Breakthrough Summit.
Welcome to the blogger Breakthrough Summit Podcast.
[00:00:27.460] – Liz Stapleton
And today’s episode I’m sharing some fantastic information from a funnel formulating queen Eden
Fried of Rebel Boss.
[00:00:35.320] – Liz Stapleton
This tidbit was originally shared during the 2021 blogger Breakthrough Summit, which, by the way, if you missed the Summit stay tuned until the end of the episode, I’ll let you know how you can get
[00:00:44.920] – Liz Stapleton
Let’s go ahead and dive in to What Eden has to say.
[00:00:47.680] – Eden Fried
I think this is a great place to really dive in. The probability of selling to an existing customer is 60 to 70 percent.
[00:00:54.880] – Eden Fried
I want you to really let that sink in for a second, 60 to 70 percent. That’s crazy. That means that your goal should be how can I turn my leads into customers as fast as possible?
[00:01:07.840] – Eden Fried
If you know that once someone buys something from you once they’re statistically very likely to buy from you again, your goal should be, how can I get these people to buy as fast as humanly possible?
[00:01:19.270] – Eden Fried
How can I get them from A to B, thinking about buying to actually making the sale? And that’s why you need to set up a tripwire or or else you’re really risking leaving money on the table.
[00:01:30.310] – Eden Fried
And I’m saying that sounds maybe it sounds a little bit blunt. It is blunt, but I really mean this. If you do not have tripwires set up on your website.
[00:01:40.090] – Eden Fried
You are 100 percent leaving money on the table because tripwires are the tool that will get your
customer from thinking about buying to buying within a split second within just a few minutes time.
[00:01:53.470] – Eden Fried
And there’s really nothing else out there quite like this that’s going to help your customers or your
potential customers become actual customers within a few minutes.
[00:02:02.020] – Eden Fried
Your tripwire really has to scratch the itch of a pain point. So products, digital products, if they’re
going to sell, they need to solve a problem.
[00:02:11.830] – Eden Fried
Products are just really resolutions to problems. So if they don’t solve a pain point, if they don’t
scratch the itch of a pain point, nobody’s going to want to buy one.
[00:02:21.490] – Eden Fried
There needs to be a sense of urgency. People buy because they’re scared of missing out on a great deal. Your product also needs to give people a quick win.
[00:02:30.760] – Eden Fried
It’s not just about collecting the money, right? Making that $9 is great. But you want to wow people
with your product.
[00:02:36.880] – Eden Fried
You don’t want them to get your product and then feel disappointed that they bought it, because then they’ll never buy from you again. You want to make sure that your product actually is giving them a quick win.
[00:02:46.540] – Liz Stapleton
I don’t know about you, but I never thought about tripwires quite this way until I heard about it from
[00:02:51.070] – Liz Stapleton
I hope you are now pumped to set up a trip wire. And if you’re looking for a bit more guidance, say,
Eden’s entire presentation from the Summit, then you’re in luck.
[00:02:59.650] – Liz Stapleton
For just $19, you can get access to the Summit visit bloggerbreakthrough.com/podcastdeal all one
word for more information and a sign up.