Tripwire Offer| One-Time Offers (OTOs) | Low-cost Entry Offer - ZeroCostLift
A Tripwire Offer is a low-cost, high-value product or service designed to transform potential customers into buyers by lowering the barrier to entry.
Typically priced between $5 and $50, tripwire offers are intended to be irresistible, making it easy for prospects to make their first purchase.
This low-cost option allows potential customers to see the quality of your content and experience the value you provide before committing to the full course.1
Visual Representation:
Purpose:
The primary goal of a tripwire offer is to turn a prospect into a paying customer by offering them a product or service at a minimal cost.
It’s based on the psychological principle that a person who has made a purchase, even a minimal one, is likelier to buy again.
Characteristics:
Tripwire offers have several key characteristics that make them effective customer acquisition strategy:
- Low Cost: The offer is priced low enough for the prospect to make it a no-brainer decision, minimizing the risk.
- High Perceived Value: Despite its low cost, the offer provides substantial value, making it irresistible.
- Relevance: The offer is closely related to the business’s core products or services, aligning with the interests and needs of the target audience.
- Immediate Benefit: It delivers immediate value, enhancing customer satisfaction and trust.
Usage
Tripwire offers are commonly used by:
- Online Stores: E-commerce sites might offer a popular item at a low price to encourage customers to start shopping and return for more purchases.
- Digital Products: Companies selling software, online courses, or ebooks often offer something minor, like a cheap ebook, to introduce customers to their more expensive products.
- Subscription Services: Services like streaming or monthly subscription boxes may offer the first month at a reduced price to attract customers, hoping they’ll stay for longer.
- Professional Services: Consultants or freelancers might offer a basic service at a low cost to attract new clients and sell more comprehensive services later.
- Health and Wellness: Gyms or personal trainers often offer discounted rates for the first month or special rates for the first few sessions to encourage longer-term commitments.
- Content Creators: Influencers or content creators might sell low-cost digital goods to turn followers into paying customers and lead them to higher-priced offerings.
- Marketing Agencies: These agencies might offer a basic service like a website audit at a low price to demonstrate their capabilities and hope to secure bigger projects later.
Example
An online educational platform offers a $7 mini-course on digital photography basics as a tripwire offer to attract photography enthusiasts new to the platform.
Many people take advantage of this low-cost offer.
After experiencing the quality of the mini-course, many signed up for a more detailed $200 course covering advanced photography techniques.
