I know passive income sometimes gets a bad rap because people are like, it’s not passive – which it’s not. But we’re going to talk about something you can add or incorporate into your website to earn more passive income – and that is a tripwire. If you’re not familiar with this term it tripwire is a small paid offer, usually around like $10 to $30 that you show or present to someone after they have opted in to a freebie on your site. So for example, if you offer a free ebook on your site, a good tripwire offer might be like a $20 like mini-course or something that dives deeper or expands on that particular topic covered in the freebie.
If you’ve opted in for freebies and you might think that it requires a ton of tech or some fancy tools, or you have to pay a lot of money for these websites to make everything work, but you really don’t. So today I want to break down the four things that you need to create your tripwire offer.
So the first thing you need for a tripwire is a freebie.
It could be an Ebook, a worksheet of free video training, whatever it is that you think your audience would find valuable enough to give their email address in exchange. Then obviously you can put the opt in box like in your footer, maybe an opt in at the top of your website, in your blog sidebar, or most popular place is to put it at the end of a blog post.
The next thing that you’ll need is an ecommerce plugin.
And yes, this really does work best if you have a WordPress website. It’s really difficult to do tripwires on Squarespace just because of some different limitations.
If you already have an ecommerce plugin, great. You can just continue probably using that if you don’t have one yet, there are two that I would recommend. WooCommerce is great if you are intending to sell both physical and digital products through your website. Easy Digital Downloads is another plugin and this is actually what I use. There are really just less things to mess with – it’s really simple and straight forward like the name of it says.
Once you’ve set up your products you can just grab a short code and embed that on any page or post. The nice thing is that both of these plugins are free and they do have paid add on features or extensions that can be installed for further functionality. For example, I have an extension that allows me to add buyers to my email list and ConvertKit. It doesn’t do this automatically, so that’s why I needed the extension.
The third thing you’ll need is a countdown timer.
So a big part of what makes a tripwire offer effective is that it’s really only available for a limited time. So you save $10 on this ebook and it’s only available for 10 minutes and then that page expires. So personally I use evergreen countdown timer. Again, super simple, it’s free. You just tell it like I want this countdown to last 10 minutes, grab the short code, put it on the page, you’re good to go. Another popular option though is deadline funnel. It’s $37 a month, but it also works within email. So you can actually use trip wires or countdown timers for limited time offers like within ConvertKit.
And then lastly, obviously you need your tripwire offer.
The whole purpose of the trip wire is to, part of the whole purpose of a trip wire is to encourage people to make a decision to buy quickly. That’s why lower price, smaller digital products work so well. So again, think about something $30 or less that you could offer, um, like workbooks on demand workshops and masterclass replay, something of that nature. But if you don’t have a product like that, you could also offer discounts.
So if you do strategy sessions consulting, this could be a great way to say, Hey, you can book a strategy call right now and Save, you know, $20 $50 whatever. Now, there are a lot of different moving parts that I have mentioned. If you are interested in more in depth training on all these different components, I do have a passive income starter pack available. In this starter pack, you get a 10 page Canva ebook template, Facebook ad templates, social media promotion templates, step by step training to set up the countdown timer in the ecommerce and a blueprint for your sales page for the trip wire offer.