What is tripwire Marketing?

Something that caught my attention this week was Tripwire marketing and like many of you, any new process/framework being discussed in Internet marketing circles gets me excited.

So what’s Tripwire Marketing?
It is a simple 3 step approach that is centered around the intended customer behavior.

Step 1: Defining or modeling the desired customer behavior at your store (online or offline). Your content on the website or off the website leads people to explore your products on your website.
Step 2: Identifying any deviations from this behavior. For example, people do not click through the article or the social post you put up to lead them to your products page.
Step 3: Focusing on the deviations and channeling your marketing money and efforts in correcting these deviations. Dropping in a coupon or a testimonial in the article or a strong call to action in your social post that entices the customer to click through to your website or product pages.

It is very likely to confuse this framework to tripwire offer which is the process of using an offer that can generate revenues to offset the overall cost of acquiring your customer.

Side Note: Tripwire marketing helps you to reduce the subsidy cost of marketing (the cost of marketing to everyone especially to the ones who will convert anyway) making it more effective.

My favorite example of this subsidy cost is the Adwords spends on branded keywords. Leave your comments if you agree to disagree!

Be obsessively Grateful

99c33cea3b25e717a5782d6a46ab26c8…to the reason of your physical existence
…to the reason of your intellectual existence
…to the reason of your emotional existence
…to the reason of your professional excellence
…to the reason of your psychological balance
…to the reason of your mental balance

Side Note: Obsession, in its positive form, can make you more resilient and improve your weak being.

Change the Question

From:
“What would I attempt to do if I knew that I could not fail?”

To:
“What’s worth doing even if I fail?”

Side Note: If you are still not getting to the right question, just follow up your choice by asking yourself, ‘Why?’

Are we Social?

 

Does an emoticon smiley carry the same emotion?

Does reading a message in a social network equals to a human conversation?

We prefer working from home (WFH) to coming to work.

We prefer Whatsapp/Facebook to calling someone and wishing him Happy birthday (and I am not even talking about surprising them by ending up at their door at 12 here. Soon this might be a taboo).

We are increasingly getting comfortable being in silos. (from joint family to nuclear family to personal bedroom to personal space).

It’s a trend that is not just prevalent but growing at a rapid pace. I am no expert to say if this is good or bad, but I do feel it’s disturbing.

Side Note: No great good has come from minions living in silos. Share a smile, shed a tear, wish on a shooting star or just give a hug to each other.

Networks should enable a relationship. They cannot be the base of it.

Early startup Days

When your assumptions as an entrepreneur start failing, the urge is to either sound (and hopefully) stay positive or take a step back and take stock of reality.

Are you trying hard to prove your assumptions right. Stop it and stop it right now. Acceptance of failure has been the best lesson to success. You have to accept that shit has hit the roof, pull up your sleeves, clean it up and start all over again.

What I have always liked about entrepreneurship is ‘it’ challenges the real you. It asks the true character in you to come out and face the reality. Crisis humbles all your achievements so far and you are ready (hopefully) to start the journey all over again.

Personally, the journey itself has been rewarding than the goal itself.

Side Note: I’ve always seen similarities between entrepreneurship and dating your girl. You don’t walk out because you’ve been elusive of the first kiss (surely won’t after you get it).

Sharing is Caring

img_20170224_183007I had the privilege of sharing my 12 years of marketing experience with roughly 60 students from Pearl Academy and while I’ve been in multiple speaker sessions earlier, this was definitely one of the most challenging ones. So much so that I admitted to the group that ‘I could actually count the number of butterflies in my tummy.’

Reason: My session would leave an impression on these young minds. It put an immediate onus on me to connect with the audience and help them clear the fog around their impression about digital as a career option.

At the end of the session, the management reached out to me asking if I would be interested in taking master classes for them. While that speaks volumes about the appreciation I got from the audience, it brought me immense happiness about the fact that I can continue to share my learnings of life, work and its convergence.

Side Note: If the above is not enough for you to start sharing, remember, ‘when you stop sharing, you start alienating.’

Why vs What?

Don’t tell me ‘what’ you do. Tell me ‘why’ you do it. I might believe in what you believe then.

Your answer for ‘why’ might inspire me. ‘What’ is another pitch adding to the daily noise I am exposed to.

Most of the search engines focussed on ‘what to do,’ while Google focussed on why do it (to organize all of the data in the world and make it accessible for everyone in a useful way).

I have a similar feeling around Amazon vs Flipkart or other e-commerce giants in India.

Side Note: As a leader don’t tell me what needs to be done, tell me why it has to be done and see the magic happen (assuming I am aligned to your why).

 

Nothing instant is Good

No matter what your health goals are, instant food is never the solution.

It surprises me on how startups (even now) believe that instant funding or instant customer growth can help you sustain a brand or a business.

Side Note: Its ‘long term value’ that you are creating in the market with your start up, not how soon you are making an exit.

 

Numbers vs People

Spend 6 minutes on this video (its in an Indian language – Hindi), think about it and action it for your team, business, and life. The  crux (for people who are short on time) is from 2:04 secs to 2:48 secs.

Companies who understood this and actioned it continue to be discussed as case studies.

 

Side Note: Companies that have ignored it are also discussed as case studies (for obvious reasons).

 

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