On my last Driving with John Chow episode, I went over the first step to creating a money-making sales funnel, which was how to create a lead magnet.
On this driving video, I will teach you step two of the sales funnel creation process, and that is the tripwire.
The tripwire is an extremely important component of the sales funnel because it’s what separates your leads from your buyers. Getting leads into your funnel is nice, but it won’t make you any money until they buy something. This is where the tripwire comes in.
A tripwire is a low priced ($9.95 to $297) product designed to get you a customer. Its job is not to make you money (that will come later in the funnel). In fact, you should be jumping for joy if your tripwire product covers your ad spend.
I find licensing products to be a better use of my time and resources. Creating your own tripwire can be extremely expensive. The sales page for Blogging with John Chow cost $7,500. Then there’s the cost of creating the product, affiliate manager, etc. This is why I no longer create my own tripwire. I can license them from MOBE/MTTB at a faction of the cost. Enjoy the video, and look for step three in a day or two.