In this episode, we’re interviewing Eden Fried talking about creating a passive income stream with a tripwire offers! As a freelancer, you only have so much time in the day to work on client projects, so adding a little bit of passive income helps boost your biz revenue – and you can do that with a tripwire offer.
Listen to Episode 022, How to Turn Leads into Instant Customers Using a Tripwire with Eden Fried
What is a tripwire?
- A tripwire is a low cost digital product that is offered for sale for a limited amount of time.
- Easier to convert customer into a returning customer $9-19
- So you can showcase yourself, give people a quick win… and the next step is hiring you
- Tripwires are not going to be your ticket to “getting rich”! The purpose of tripwires is to use them to build trust and create a funnel.
- As a freelancer, you may have prospective clients that can’t afford you, so digital products could be another way to serve.
Setting up a Tripwire
- Make the product a small product with a quick win
- Workshop, templates, excel spreadsheet, course
- Choose a payment processor
- Sendowl, Teachable, Gumroad
- Set up a timer that has the functionality to expire the page
- Deadlinefunnel, Evergreen Countdown Timer, Page Expiration Robot
- The offer itself should be discounted
- At least 200 people need to go through your funnel before you can calculate the conversion rate
- 1-7% conversion is standard. You can expect a higher conversion rate than the standard because of the lower cost.
About 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.