1. Lead Magnets
Locate 2 incentives for a prospect to exchange their email address. One should be a lead magnet and the other one not. Detail why the second incentive would not be considered a lead ‘magnet’. Add screenshots of the incentives (labelled clearly as ‘Lead Magnet’ and ‘Not a Lead Magnet’), along with the information as to why the second is not a lead magnet, to the Portfolio.
Lead Magnet with incentive:
The Daily edited offers a 10% discount off your next order when you register your email address.
Not a lead magnet but still wants your email address. Could not find example.
2. Customer Value Optimisation Pick a product or service that you might want to promote online.
• Describe the product
Eyeshadow pallet. A bronze colour selection.
• Describe something that you could use as a LeadMagnet
Buy one pallet and get a free lipgloss.
• Describe something that you could use as a Tripwire.
The Tripwire is an irresistible, super low ticket offer (usually between $1 and $20) that exists for one reason and one reason only to convert prospects into buyers. In markets selling high-ticket products and services Tripwire offers as high as $500 can convert well.The goal of the Tripwire is to fundamentally change the relationship from prospect to customer. The conversion of a prospect to a customer, even for $1, is magical. If you understand and execute on this step, you’ll be ahead of most of your competitors. Remember, our first goal is to increase the number of customers.
tripwire can be best described as, once you have brought the customer in by luring them with something free. You have their details you send them a trip wire. Basically, you show them a product that can be fragmented and offer them a piece of the product. Such as one lipgloss from a collection just like Kylie Cosmetics. If it works it can redeem high prices. You then go back and offer the full product. More often then not, once they have a taste of the product they will want more.
• Describe at least 2 Profit Maximisers (upsells, cross-sellsetc)
Up selling is to persuade a customer to buy something additional or more expensive. Added value like a bonus to sweeten the deal. Buy one lipgloss full price and get the second half price
Cross selling is to sell a different product or service to an existing customer. They have several of your eye shadow pallets so you show them on checkout or next time they visit the matching lip glosses to complement the eyeshadow pallet.
• Describe how you could set up a Return Path to sell more products or services.
The Return Path is anything that brings the customer or prospect back more frequently
• Exit Offers
• Organic Social Media (like Twitter, Facebook and
• Loyalty Programs
• Content Marketing
• Outbound Sales Calling
• Ad Retargeting
… but none is more powerful than automated email follow-up.
• List at least 4 other products or services you could sell to a returning customer Add your answers to the Portfolio.
- fake eyelashes
- makeup wipes
- setting spray