The importance of paid ads in digital marketing can’t be overestimated.
Online advertising is an essential element in a digital marketing mix. Primarily, paid ads allow you to target, and retarget the ideal prospects for your core offer. It also provides you with valuable customer insights that are not available through other advertising mediums.
As a newbie, running standard paid ads for your online business can be costly. The total cost can run to thousands of dollars which few can afford. So, what CAN you do?
With self-funded advertising, you get to pay for ads without undermining your income. Self-funded advertising involves selling a feature or tripwire to cover the cost of paid ads. This means that you use your features and tripwires to generate traffic to your core offer.
The feature and tripwire are sold at a low fee which covers the cost of your advertising. Because of this, your income isn’t adversely affected. Increased income will be generated by the sales of core offer. Customers who buy your tripwire (or the shipping costs associated with your free offer tripwire) are ten times more likely to purchase your core offer.
How It Works
The most critical factor in self-funded advertising is a tripwire.
A tripwire is an irresistible, super low risk paid offer that gets you more customers on the front end. For it to work, you need to ensure your tripwire or feature is an irresistible offer. Your customers need to be sure it’s something that’s of value to them for them to buy it. The offer could be a digital product or a physical product. More importantly, you should ensure that the price point is low, relative to your core product.
For instance, if you offer full web design as your core offer at $100, you could offer logo design as a tripwire at $5. The tripwire, in this case, the logo design will cover the cost of the paid ads while your income will still be generated by the sales of the core offer (i.e. the full web design).
How is this beneficial?
Frequently, tripwires or features are used to generate traffic and attract prospects into the sales funnel.
However, with the self-funded advertising, you will be able to use these tripwires to not only generate leads but also pay for your ads.
What this means is that you will be able to target more buyers, make more sales, without spending one cent out of your income.