Stop Worrying On Facebook Ads Failure And Start Doing THIS

Stop Worrying On Facebook Ads Failure And Start Doing THIS

Facebook ads are becoming essential on most of the business marketing strategies since it helps them to target an audience with an objective, get more in return, reach more audience with the robust analytic feature.

Most of the businesses started placing ads on Facebook to increase brand awareness, sales, and many other metrics. Since this social media platform lets businesses to define their audience in a custom manner and micro-target the audience under the objective campaign features, businesses find it easy to reach more people on the platform.

But advertisers have mixed results on some campaigns since Facebook ads are not MAGIC. It is not a magic wand that can push the graph UP on every targeting advertisement.

But I can help you to steer your advertising campaigns on the growth path using a magical wand, Facebook Messenger Automation

Drop-in your Facebook Ad Metrics

Facebook is a social media platform with

  • 2.60 billion monthly active users,
  • 60.6% of internet users,
  • 58.5 minutes average user time spent per day

https://zephoria.com/top-15-valuable-facebook-statistics

Imagine this platform will let you run ads by targeting the users based on their life events and interest and also will let you target your competitor’s audience and show your ads.
Dream platform for many entrepreneurs, right?

But not for all, most of the people aren’t able to run ad campaigns successfully on Facebook to achieve the expected results.

Even though the ad got a lot of awareness or clicks, it fails to increase your ROI and revenue.

Frankly, some businesses are not impressed with the outcome of some ad campaigns.

Here are the few reasons why your Facebook ad campaigns don’t convert are

  • Action-less CTA
  • Attract your Audience Instantly
  • Static Landing Pages

Marketers need to spell some real magic on their Facebook ad campaigns using Facebook Messenger automation to convert more audience instantly.
Related ArticleFacebook Ads Strategies that drive 5X Percent Results

Facebook Messenger Automation

Using Facebook Messenger automation, you can increase your Facebook ads performance and the conversion rate in a short span.

There are a lot of things which Messenger bots can help on Facebook ads metrics, here I can take the above mentioned three reasons and show you how Messenger automation can help.

  1. Action-less CTA – Irrelevant (or) poor call-to-action on your Facebook ads will fail to convert more audience unless you are planning to run an awareness campaign. Send to Messenger Ads CTAs will work well, in this case, it will serve the ad purpose and users’ queries in a conversational way on the Messenger platform.
  2. Attract your Audience Instantly – When an audience clicks the CTA to know more about your ad, you need to provide the information instantly in a correct way. Messenger automation will help you to serve that audience in an engaging and entertaining manner like talking to a real person. By using Messenger automation you can engage with customers for your business 24*7*365 without any interruption.
  3. Static Landing Pages – Landing pages are boring, even though they contain a lot of creatives and attractive people today are not interested to go through the complete webpage and consume the information they need. But with the help of Messenger automation, you can provide the relevant information to your audience in a conversational way.

Related Article3 Messenger Automation Techniques to Increase Sales Exponentially

Send to Messenger Ads

One of the CTA will be available on Facebook ads manager while you configure targeting ads. This CTA will let the audience come to your Facebook business page inbox where you have set up Messenger bot to serve the audience.

Here is how this send to Messenger CTA looks like,

Stop Worrying On Facebook Ads Failure And Start Doing THIS

When your audience has clicked that “Send Message” CTA on Facebook, the automated message will trigger instantly on the Messenger application with the help of chatbots (as shown in the image below).

Stop Worrying On Facebook Ads Failure And Start Doing THIS

Facebook Comment Tool

Amazing tool available on SilFer Bots platform to turn your page commenters into customers. The beauty is that you can set up this tool for both organic posts as well as paid ads on Facebook platform.

This is how the Facebook comment tool will work,

Retarget using Custom Audiences

Target the same people who took some action on websites, applications, chatbots will help you to convert more and do more sales than finding new customers.

Using Facebook Messenger automation, you can monitor your subscribers’ activity and add them on your custom audience list so that you can retarget them on Facebook ad platforms.

Also, Read 5 Simple Steps to Create Your Social Media Audience
If you are new to create custom audience using Facebook Messenger automation, check this video to learn how

Skyrocket your ROI

Facebook Messenger automation has the potential to handle all your audience and sell a product, guide them on a purchase, schedule appointments, generate a lead, provide consumer support, convert them easily through a conversational method.

Since your audience is getting instant replies with relevant information, they will get the queries solved and move to the next stage on the customer journey.

Skyrocket your ROI and leverage your metrics on an autopilot mode when implemented correctly.

Do you want to get a personalised 1-to-1 discovery session?

Book your 1-to-1 discovery call with us today!

Handle Social Distancing Like a PRO using Facebook Messenger Automation

Handle Social Distancing Like a PRO using Facebook Messenger Automation

Most of us might dream about 2020 that I will be a great year and will bring huge opportunities for you and your business.

Well, changes are inevitable and it tosses our lives upside down every time to prove the inevitability.

No one expects this pandemic outbreak and the changes it had brought along with the virus spread.

A lot of things changed in these months physically, mentally, socially and it brought a dramatic effect on our regular life.

At the start of the year, no one might imagine that they need to maintain a distance with other people in order to prevent the virus spread.

When it comes to business, these changes led to new trends, methods on ordering, purchasing, and payments that people showing more interest in online commerce rather than buying products on nearby brick & mortar stores

Even on some physical stores, ordering and payment got complicated because it has to be contactless to prevent the spread.

That’s why I intended to show you how a business can handle social distancing in a simple but effective way using Messenger chatbots.

Facebook Messenger Automation can Help

Facebook Messenger Automation is not just sending bulk messages to your customers, using Messenger bots you can perform all business processes that require consumer interaction.

It doesn’t matter whether you have an online store or physical store, Messenger automation can be utilized on both kinds of businesses.

Messenger chatbots used for automation can welcome visitors, understand their queries and provide relevant replies (solutions), suggest a product, sell products inside the Messenger, schedule a meeting, distribute the coupons, conduct a poll and can do a lot more other stuff.

I’m saying this again Messenger chatbots can be utilized by both online & physical stores for the same purposes in different ways.

Also, Read Facebook Ads Strategies that drive 5X Percent Results

There are a lot of ways that this Messenger chatbot can be useful for online stores business,

  • Generating Leads – Messenger bots can be able to collect and save customer details in simple steps and they can transfer that information to Google sheets or to your CRM (using external request features)
  • Validate the Prospects – Using Facebook Messenger Automation, you can validate your prospects by making your messenger bot as the first contact of approach. They can ask your prospects with various questions and segment them to the respective departments (like marketing, sales, support)
  • Abandoned Cart Alerts – Messenger chatbots can not only sell products to the customers, they can also send abandoned cart reminders with the customized time interval to help your business leverage more sales.
  • AI at Your Service – Messenger Automation can be guided by artificial intelligence to give the relevant reply to your consumers in a personalized way to gain more attention & trust from your customers.

The above use cases are common for all kinds of businesses out there and the potential of Facebook Messenger automation is exponential that it can bring multiple possibilities to leverage your business metrics.

If you have a physical store or business, this Facebook Messenger automation can help you acquire more subscribers (can turn them into customers easily), sell products virtually, handle orders and payments in an automated manner, notify customers about delivery updates and distribute coupons in a personalized way.

There are a lot of methods and easy to utilize Facebook Messenger Automation for your brick & mortar store business, but I would like to show two cool methods as an example.
Because they are cost-effective and  can level up your metrics in a short period of time (especially in this pandemic situation)

Related Article3 Messenger Automation Techniques to Increase Sales Exponentially

Real Cool Methods

Both methods are the same but with two completely different technologies. Most of the local businesses are suffering in this COVID situation because of social distancing that changes the habit and method of purchasing products.

What if every business will have a contactless ordering, purchase, or payment method in an effective and affordable way.

This will be a game-changer in this COVID situation, right?

If you build a chatbot to automate Facebook Messenger using SilFer Bots platform, then you can merge QR code and NFC technology to build a contactless system for your local store.

Messenger Bot x QR Code

Nowadays most of us had the chance to scan a QR code using smart devices and read the information on it.

Using the SilFer Bots platform you can build a Facebook Messenger automation flow and get that particular flow and merge them with QR code inside the platform itself.

Navigate to Menu > Tools > QR Code Generator to access the tool inside the SilFer Bots platform.

Handle Social Distancing Like a PRO using Facebook Messenger Automation

Handle Social Distancing Like a PRO using Facebook Messenger Automation

Click “Generate” to complete the process. Now you can download the QR code and paste them on your brick & mortar store to acquire visitors to your Facebook Messenger automation so that you can handle the rest using Messenger bots.

Messenger Bot x NFC Tags

NFC tags are the next cool tool to get automate with. Fortunately, technology helps us to access, read, activate, edit NFCs on our smart devices itself.

With a tap, you can get your local store customer to your Facebook Messenger automation and drive them to the contactless purchasing or ordering system in this COVID situation.

There are a lot of tools available on the internet to read, edit and access NFC tags and you can use them on your choice.

For this, you need to get the link of your bot conversation flow on the SilFer Bots platform and link them with NFC tags. So that you can redirect the shop visitors to your Messenger automation campaign by just tapping the NFC tag.

On SilFer Bots platform, go to Menu > Flows > Respective flow (on the list)

Handle Social Distancing Like a PRO using Facebook Messenger Automation

Now select the flow menu (three-dotted menu button on the right side of all flows) and click “Get Link” on the menu list. A popup will appear with the link to that flow, copy that and use them to merge with NFC tags.

Handle Social Distancing Like a PRO using Facebook Messenger Automation

Note that NFC tags are the fastest way to access Messenger bots since it will take time for people to scan a QR code.

Amaze them with Automation

People always love businesses that can deliver the best consumer experience with a personalized journey in a seamless way.
In this COVID situation, customers are also suffering to get product or services for their needs because of social distancing and lockdown measures.

Using Facebook Messenger automation & its cool method you can give your business a way to amaze your customers and give them a feeling of safety & comfort to purchase.

Also, Read 5 Simple Steps to Create Your Social Media Audience

Learn the exact fail-proof system that we use for our clients to convert their social media contacts to contracts without playing the guesswork game or spending a ton of money

5 Simple Steps to Create Your Social Media Audience

5 Simple Steps to Create Your Social Media Audience

Today, every business owner wants to take their business online. They recognize the power of social media as a game-changer for their business. But, not everyone succeeds in leveraging social media in the best possible way. And, of the key reasons behind that is, they lack a clear picture of their target audience.

A well-crafted audience profile not only forms the basis of an effective social media strategy, but is a vital component of any marketing activity. Defining your ideal audience is that essential first step, which if missed, can lead to poor and ‘budget-wasting’ outcomes.

So, if you’re looking to reap better results from your social media and marketing efforts, the first thing you need to focus on is building your ideal audience profile. I’ll explain how you can do that with this simple step-by-step audience creation process.

1. Identify your prospects

Who is your ideal audience? The first step is where you’ll figure out the answer to this question.

If you have an existing customer base/following, start from there. Pick 10-20 customers and collect as much demographic data as you can about them. If you don’t have customers yet, no worries. Think about the people who are likely to derive the maximum benefit from your product/service.

2. Create a rough persona

Now it’s time to create an axiom profile or a rough persona. Document everything you know about your existing customers or ideal prospects.

How old are they? How much money do they make? What are their interests, preferences, and buying behaviors? Which social media platforms do they use? Collect as much demographic data as you can and remember, the more specific you get, the better you’ll be able to craft your persona. For example, let’s say you’re targeting entry and mid-level marketing professionals, you could list down their most common traits and possible behaviors, such as:

  • Aged 25-35 years
  • Reads Forbes and digital marketing blogs
  • Follows marketing influencers like Neil Patel, Gary V etc. 
  • Attends marketing events and webinars 
  • Active on LinkedIn, Twitter, and Facebook
  • Goals and challenges include lead generation, conversion, ROI creation, etc.

Alternatively, you could a simple tool as MakeMyPersona (by HubSpot) that allows you to create a rough customer persona in few minutes.

Also, Read Facebook Ads Strategies that drive 5X Percent Results

3. Understand the targeting options on social media platforms

Every social media platform has its own features and targeting options. And that’s one of the most important things to consider before you begin to craft your audience persona.

To do this, create ad accounts on the social media platforms that your audience prefers — these are the platforms you should be spending your money on. Get a thorough understanding of the ecosystem of those platforms. For example, as shown in the image below, you can narrow down your target audience on Facebook using a host of detailed targeting options such as a user’s educational and financial background, their work, interests, behaviors, and so on.

5 Simple Steps to Create Your Social Media Audience | Digitechniks

Similarly, on LinkedIn, you can sort out your ideal audience by their company, demographics, education, job experience, interests and traits (image below)

5 Simple Steps to Create Your Social Media Audience | Digitechniks

Additionally, LinkedIn offers you the option to select audience templates, which are specific pre-made audiences that you can target for advertising.

I have just talked about two examples here. But the point is, all social media platforms have their own ecosystems that you need to explore before diving into creating ads and campaigns on these platforms.

Also, Read 6 Simple social media hacks to convert contacts to contracts

4. Segment audience based on common aspirations

This step is all about splitting your target audience into different groups based on their goals and aspirations. Because aspirations are what drive consumption and motivate people to choose a brand or business, this is a vital part of the process.

Start by listing down the possible aims and ambitions that will convince your audience to buy from you. For example, at Digitechniks, we offer digital marketing education to people who want to be educated in this field. Now, if I list down the common aspirations for people to learn digital marketing, I can come up with the following categories:

Category 1: People who want to build a career in digital marketing

Category 2: Business owners who want to learn digital marketing to utilize it for their business growth

Category 3: Marketing professionals who want to upskill or improve their craft to create better results for their clients
Then, I can go ahead and segment my target audience under these categories.

5. Define target audience using customer avatar variables

The final step is to put your segmented audiences under customer avatar variables like age, gender, education, professional designation, marital status, parental status, social media platforms, etc. (see image below)

5 Simple Steps to Create Your Social Media Audience | Digitechniks

Also, Read 5 Growth Hacks To Build Relevant Social Media Followers

Summing up

The beauty of this 5 step process lies in its simplicity. It starts with mere assumptions and rough estimations and with every step, it brings you closer and closer to your ideal audience persona.

Do you want to get a personalised 1-to-1 discovery session?

Book your 1-to-1 discovery call with us today!

3 Messenger Automation Techniques to Increase Sales Exponentially

3 Messenger Automation Techniques to Increase Sales Exponentially

Why are some established and even some reputed businesses finding it hard to acquire new customers in this digital era?

Why are those businesses unable to shine as they did in the past?

Why are the new businesses struggling a lot to get more customers?

In this internet era, it doesn’t matter whether you are a new player or an existing player in the business (industry)!

If you can understand your customers and can give what they want, then you will grow or else you can’t even get noticed in the crowd.

These days the internet is loaded with tons of information and every business has competition which makes them try new things and win the game or stay unchanged and backed up in the race.
Most of the businesses know these and they are trying different methods and strategies to leverage business. Unfortunately, they can’t achieve the results that they aimed for.

Any idea on why the majority of the business can’t leverage the metrics but few other businesses can achieve them on most of the campaign?

You are Doing this WRONG

  • Social media promotions,
  • Search Engine Marketing & Advertisements,
  • Emails, Paid Promotions, & Outreach,
  • Omnichannel, growth tactics and cross-platform marketing.

These are some of the marketing methods that most businesses are doing to promote their product or service online.

But still, they are suffering from showcasing their business to their audience because of the competitor crowd & other distractions that your audience experienced on the internet and let them forget about your business.

Your business needs to be reminded (awareness), your audience needs to be excited (customer journey), your customer needs to be amazed (sales & services) in order to sell more & gain more consumers.

If you aren’t able to make your audience reminded, excited, and amazed about your business, then you are losing the game.

All your efforts will not reap any values since you are playing the cards in the wrong direction.

Messenger Automation on Service

You may have a thought in your mind like “Messenger Automation!!!”
“How can automation on Messenger help my business to achieve higher metrics?”

“Is that a MAGIC or some new way of marketing opportunity?”

Well, Messenger automation is completely new to most of the marketers and therefore it was not crowded with other marketers or businesses. Possibly!

But Almost 1.6 billion people are using Facebook’s Messenger globally to interact with their friends & family and the chances are really high that your target audience will be here is the Messenger platform.

With the help of Messenger bots built on SilFer Bots platform, your business can reach, communicate and sell products in an automated way.

Most importantly, this Messenger automation has the capability to do magic by communicating with your audience in a personalized way and make your audience feel like your business is caring about their customers.

Let’s imagine,

It’s 11.30 at night and tomorrow is your brother’s birthday.

You wanted to present him a watch, but you already forgot to buy the gift and it’s too late to go for the purchase.

But you found that a local store nearby had an automated sales process and you purchased a watch for your brother’s birthday that is scheduled to be delivered tomorrow at the right time.

We can think of a lot of other instances like this.

Once I purchased online software to broadcast my live sessions and got struck exploring the main feature that I want to use.

I tried to contact the support but failed since they are offline, but I found they had a good chat support system completely automated where I had to get my queries cleared without any human help.

These two scenarios can explain the potential of automating Messenger with the help of chatbots.

Let’s see how this Messenger automation will help you to increase your sales exponentially.

Nurturing Leads

Building awareness & nurturing your audience is the foremost & important steps on every marketing campaign because your business has to attract the target audience in the short span of time, or else people will not do business with your company.

Since messenger automation can be done in a conversational manner like 1:1 interaction, users can easily be on-boarded and guided to get the required product or service form your business with the help of chatbots.

You have to build the conversational flow (no coding required) in a way that the Messenger bot can welcome the audience and take them to the product or service whatever they are looking for so that they can start purchasing the need from your business.

Or else you can build a flow to floor-up the audience and nurture them with respective content that will be delivered in a personalized and automated manner.
This will improve the chance of converting the targeted audience into customers with high ROI.

3 Messenger Automation Techniques to Increase Sales Exponentially

Also, Read Prerequisites for Running Facebook Ads

Commenters to Customers

Another cool trick to increase your sales is using the “Comment Growth Tool” in Silfer Bots platform and using this way you can turn your Facebook post commenters into customers in a simple way.

Let’s take any event as an example,

You found a live music event post on Facebook and it says on description that you need to comment “standard word (or) random words” to buy the ticket for that event.
Eventually, you will comment as per the post description and a message will popup automatically on your Messenger application with the instruction or procedure to buy tickets for that live music event.

In the end, you purchased the tickets for you & your friends to spend the weekend happily.

In this scenario, both the business and customer got benefitted that the business can generate more sales using this growth automation tool and the Facebook follower can purchase the product directly on their Messenger application instead of visiting a website or waiting for a queue in a physical location.

3 Messenger Automation Techniques to Increase Sales Exponentially

Virtual Sales in Autopilot

Most of the time you spend on researching your product or looking for the best suggestion on the internet.

When an audience reach your business to get product suggestions and you can’t respond that’s where your business will start losing customers, because if they get the best suggestion from one of your competitors they will purchase from your competitors’.
By using Messenger automation you can build a virtual salesperson to work for your business 24*7*365 without any interruption.

Messenger bots will take care of identifying the consumer need, suggesting the best product, collecting the requirement, even helping & handling the purchase inside the Messenger platform itself. The main thing is you need to build a magnet to attract your target audience into your Messenger automation system (that we can discuss on another blog post).

Take a look at this video to know how this virtual sales thing works with Messenger automation

Also, Read Facebook Ads Strategies that drive 5X Percent Results

The Time is Now

Like I said before Messenger automation is the “Game-Changer” and it will unleash many possibilities on doing marketing for your business.

Now is the time for businesses to start investing in Messenger automation to leverage their business metrics and it is the right time for marketers to acquire this Messenger automation skill because there are few Messenger automation builders globally helping businesses with their need and guess what “Their pay is TOO HIGH than other marketing works.” Join the Facebook Messenger Automation course and start building automation now.

Learn the exact fail-proof system that we use for our clients to convert their social media contacts to contracts without playing the guesswork game or spending a ton of money

Prerequisites for Running Facebook Ads

Prerequisites for Running Facebook Ads

Today, businesses of all sizes are flocking to Facebook with the hopes of boosting their brand’s reach and growth. However, many of those who invest in Facebook ads, fail to see a meaningful return. Why?

Because it’s easy to start pushing out Facebook ads. But getting the desired results from those ads? Not so easy!

Diving Right in With Facebook Ads is Not a Smart Strategy

Small business owners who are looking to get started with FB ads are often clueless about what are the things to be taken care of before getting started.

In my experience of working with SMB clients as well as even some bigger brands, I have seen them stumbling into the same pitfall. They jump on the Facebook ads bandwagon without doing the much-needed prep up.

There are two big issues with this approach.

Firstly, if you don’t take care of the essentials before putting your business out there on Facebook, you risk coming across as an amateur. So even if you’re a legacy brand which is in business for years, you might be perceived as a rookie brand in comparison to someone who is new but has taken care of certain important factors before launching on Facebook. If your audience does not take you seriously, they won’t buy from you.

The second problem is that a careless approach to Facebook ads is a wastage of your hard-earned money, time, and resources. You will keep pushing ads without getting the returns you desire and deserve.

Related ArticleFacebook Ads Strategies that drive 5X Percent Results

So how do you prepare before diving into the world of Facebook ads? Here are some key steps you need to take.

1. Set up your Facebook business page

Before you can create your Facebook business page, you need to be logged into your personal Facebook account. But don’t worry, any information or activity on your personal account will not be publicly visible on your business page.

Once you’re logged in, go to facebook.com/pages/create.

2. Set your profile image

Next, upload the profile image for your Facebook page. It is critical to create a good visual first impression, so make sure that the photo you choose is of high quality and depicts your brand in a way that it is easily recognized by your prospects and target audience.

This is why I recommend you use your logo as your profile image, preferably in 180×180 px size.

Prerequisites for Running Facebook Ads | Digitechniks

 

3. Put up your cover image

A cover image also contributes towards making your brand more identifiable. The ideal size for a cover image is 640×360 px. As you can see from the image below, you can not only upload photo, but also video as your cover.

Prerequisites for Running Facebook Ads

 

4. Fill out the ‘About’ section

A complete ‘About’ section of a business page speaks volumes about the company. Try to not leave out any information because Facebook is often the first place a customer goes to know more about your business, so having it all there is important.

Prerequisites for Running Facebook Ads

Make sure to provide all the contact details a customer might want to know, including your phone number, website, and email. Also update your story, which could be a snippet of the ‘About us’ section on your website.

If you have a physical store or office, make your location correctly on the map. It’s also key to add the business hours. Make sure it matches the hours you have on your Google My Business (GMB) page as it appears in search results when someone is looking you up (here’s how to set up your GMB page).

Prerequisites for Running Facebook AdsPro tip: Don’t forget to claim your username and vanity URL, as it is an important branding step and tells people where to find you on Facebook.

5. Configure the CTA button

Adding a call-to-action to your page gives you a lead capture opportunity that you shouldn’t miss. To add a call-to-action button to your page:

  1. Go to your Page.
  2. Click + Add a Button below your page’s cover photo.
  3. Select a button from the dropdown menu and follow the on-screen instructions.
  4. Click ‘save’.

You can choose from a bunch of options. Select what works best for your business.

Prerequisites for Running Facebook Ads

Once the button has been created, you can test your button:

  1. Click your button.
  2. Select test button.

6. Get at least 500 fans on your Facebook page

This is for the simple reason that without enough social proof, your ads will fail to instil trust and generate interest in your audience. Without enough followers on your Facebook page, your prospective customers will hesitate to buy from you.

So how do you achieve this? Read our blog which offers 5 useful growth hacks to build your tribe on social media.

7. Have 5-10 posts on your business page

If your Facebook page’s timeline is a blank canvas, it reflects poorly on your brand as it gives an impression that either you’re a new business or an inactive one. Hence, it’s important to have at least 5-10 content pieces before you jump into advertising on the platform.

Pro tip: Make sure to have 30-40% of the content as live images or videos, instead of just having stock images and/or graphics. This gives your business an authentic feel, adds a human touch to your brand, and makes it more relatable and credible for your audience

8. Get reviews on your business page

Facebook lets customers review businesses and rate them 1-5 stars. These appear on the business page and play a vital role in shaping a prospective customer’s perception about your brand. According to a study, 80% of consumers prefer to buy from local businesses with positive reviews on their Facebook Page.

9. Show off a minimum of 15 Google reviews

It is likely that people who have seen your Facebook ads and are interested in your product/service might want to research you on Google because it is often the first place a customer goes to when they want to look up a business online. This is when you can turn them in your favour with the help of customer reviews. The more positive reviews you have, the better.

Prerequisites for Running Facebook Ads

Also, Read 6 Simple social media hacks to convert contacts to contracts
Wrapping up

Arming yourself with these prerequisites significantly improves your chances of success with Facebook ads. Follow these tips before you begin to advertise on Facebook.

 

Do you want to get a personalised 1-to-1 discovery session?

Book your 1-to-1 discovery call with us today!

How to Decide Your Tripwire or Irresistible offer Pricing?

How to Decide Your Tripwire or Irresistible offer Pricing?

You probably know that a digital marketing funnel is key to acquiring customers online and odds are that you might have heard of ‘tripwire’. Many have also started realizing that in order to run sustainable businesses and to gain in the long run, we have to be givers. And that’s where the idea of tripwires comes in. 

For those of you who may not know exactly what a tripwire is, what it does, and why it’s useful, let me give you a short primer.

What are Tripwires?

A tripwire is a low-priced irresistible offer, the purpose of which is to convert an audience into buyers. Because a tripwire is low in price, people are more likely to give it a try. Therefore, it allows your prospects to dip their toes in your business without having to spend big bucks. Then, once they see the value in that low-priced offer, they will be more likely to purchase the core product.

What a tripwire also tells you is that an audience is interested enough in your product/service to give you their contact information.

According to DigitalMarketer.com, “People who purchased tripwires were 10 times more likely to purchase their core offer.” That’s a pretty solid reason for including tripwires in your digital marketing funnel strategy

Related Article3 Step Digital Marketing Strategy for Customer Acquisition Funnel Validation

So, that’s the basic idea of tripwires that many of you might be familiar with. But do you know how to make it work for your business? What are the factors that you should consider when putting a price tag on your tripwire?

In my experience of working with digital marketers and business owners, I have seen most people making one mistake with regards to tripwires. And that is losing the sight of the money they spend on designing tripwires for their digital marketing campaigns.

Avoid the Most Common Tripwire Mistake

Most marketers play with tripwires thinking that they are not after making a profit at this point. After all, it’s okay to lose some money when giving away a low-priced offer to your audience because your plan is to encourage the customer to spend more money on your product eventually. Right?

Wrong. While you’re not looking to make a profit with tripwires, at no point, your business should give discounts by undergoing a loss. The irresistible offer should be given to the customer without harming the business revenue

So, how do you create a tripwire that doesn’t eat into your revenue? Let me explain in a step-by-step manner.

5 Steps For Tripwire Success

1. Create and collect

Design your lead magnet making sure it addresses few of the most pressing problems of your ideal customer and push this on social media. This could be in the form of a workshop, webinar, case study download, ebook download, a competition, or contest, to name a few.

Next, collect 100% of the data of the people who consumed your lead magnet or took any form of action. This data can be collected in the form of cookie or contact info

2. Set a rough discount

As a rule of thumb, the product/service you’re offering as a tripwire should be of a far higher value than the price you’re charging for it.

For instance, a Product or a Service that has a registration fee of Rs.10,000 can be offered at one fifth of its price at Rs.2000. Now that’s an offer that is hard to resist. 
However, at this stage, we’re not looking to decide on the final pricing. This is just to get the process rolling for you to evaluate and come up with better pricing that’s irresistible and doesn’t incur loss for your business.

3. Compare

Let’s say you sold X number of tripwires in the previous step and made some money. Now it’s the time to do a comparison of the revenue that you got in step 2 with your overall expenses (Ad Cost & Team Cost) in step 1.

4. Analyze

Evaluate if the revenue is 0.8 to 2X of the money you spent on ads to promote your lead magnet and tripwire, then the cost of the tripwire is fair. If the revenue is less than 0.8, you either need to increase tripwire price or tweak Target Audience or Business Model or Customer Acquisition Funnel. Do whatever it takes to get the revenue is 0.8 to 2X of the money you spent on ads to promote your lead magnet and tripwire.

5. Rinse and repeat

Go back to step 1 and make all the necessary modifications and repeat until the revenue generated from the process comes to 0.8 to 2X of your ad expense. When you hit a number within this range, you can be sure that your tripwire is priced correctly. It will attract your audience without driving your business into losses. 

Let’s clarify the steps further with the help of a case study.

At Digitechniks, we offer a free webinar on “Social Media Strategy and Planning“. That’s our lead magnet. 

The next step is our social media coaching program, which is our tripwire. The program is originally priced at Rs.30,000. When we started the program, we offered a 90% discount on its pricing to gauge the acceptability of the program and the response of our audience. When we compared our revenue with the money we were spending on ads, we figured that we weren’t breaking even. That’s when we increased the price of our tripwire to Rs.3999.  

Thanks to high demand for the program, today it is priced at Rs.5999. And, we won’t be surprised if the program continues to attract our audience even if its price goes a few notches higher in near future.

That’s the beauty and the utility of a well-designed and value-driven tripwire. 

I’m sure there are many tips and tactics to take away from this article, but I’d like to point out one thing that’s sure to help you create successful tripwires. Remember, the quality and substance of the tripwire should, in no way, be less. It’s the price that you’re charging for it is less. 

Ultimately, the objective of the tripwire is not to make money; it is to gain the market share. And, you’ll be able to accomplish that only when you create a tripwire that’s irresistible not just in pricing, but also in value that it provides to your prospects.

Also, Read Why Businesses Should Not Invest In Content Marketing For Branding Process?

 

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