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Podcasting Business School: Podcasting Tips for Content Entrepreneurs
624: 4 things podcasters MUST consider when building an offer.
00:20:26
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- [00:00]
A
This is Alex Molden, the host of the Scholarship Athlete podcast. And I came to Adam a couple of months ago. I've been listening to his podcast for quite some time, and I was like, man, I figured he's giving away so much free game on his podcast. What would it look like to hire him as a coach? And I know how valuable coaches are. Plus, I was transitioning out from a previous podcast that I had done for three years, and I was in the top 1.5%, but I was. It was getting stale. And so I. I had a thought of what I wanted to do and I presented it once I hired Adam, and he gave me a clear blueprint of exactly how do you set yourself up your podcast to make money for you? And so he gave me the. The blueprint from SEO, the naming of it, the different products that you can be able to sell yourself on it. And so he helped me create all that stuff. And I'm. He gave me a lot of confidence to be able to help out athletes and the parents of these athletes get exposure to get a. A scholarship. So, Adam, thank you so much, man. I appreciate you immensely.
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B
What's up, pod pals? It's your buddy, Adam, and you are listening to Podcasting Business School. It's the show where I teach podcasters simple strategies to help you grow your audience and turn your podcast content into new clients. Lots of new listeners lately. People finding me on threads or finding me through the podcast search bar. So welcome to the new listeners. We're talking a lot about offer creation and sales these last few weeks. And today we're going to kind of wrap up this three week series with four things podcasters must consider when building an offer. When I first got started in podcasting in 2015, in the good old days, back in 2015, I started with the mindset of I'm going to sell things, I want to create offers. I also messed around with sponsorships and affiliates. I was kind of trying to do everything all at once, which was not a good idea. I don't recommend that. But I went into it like I really did want to create offers and sell them to my audience. I tried a lot and I did a lot of trial and error, mostly error. It was like 99.99% error and very little success. I mean, I made $37 my first three years as a podcaster. Not a lot of success. So with today's content, I want to give you four things that will really help. All right? And I. I also have to do my call to action Here, can't forget that. If, if this is something that you need some help with in terms of building an offer and building a campaign to effectively sell it to your audience, if this is an area that you've been struggling with, definitely hit the link in the show notes. Check out my 14 day speed to results program. It's all about offer optimization and sales. The link is in the show notes there. We're going to use this offer as an example today as I go through the 4Ps. But the 4Ps are something that we will focus heavily on with this offer. And this is the last week that enrollment is open. If you do choose to purchase one of the beta testing spots, you have the option of starting anytime between now and the end of July. So you just have to start your program before the end of July. That's the only, only stipulation. So some flexibility with your start date. So if it sounds good, be like, ooh, next week isn't good, or this week isn't good, no problem, grab a spot, get in the beta testing roster. That way you lock in that one to one coaching with me and we can start anytime between now and the end of July. Okay, the four P's, what are the four P's of offer creation? The first one is where it all begins, the pain point. And this is where I really messed it up early on because I was more focused on the package and the pricing. Like, okay, what am, what all tools am I going to create and how much money am I going to make? So a lot of us skip forward to the, you know, P number three and P number four. But it all starts with pain point. If you are not addressing a specific pain point, you will not sell your offer effectively. It will flop. So it must start here. Here is the question. What problem that your audience members definitely have are you solving with this offer? What is the pain point you're going to solve? What is the problem that they are. It's just killing them. What are we going to solve for them? Really important. If this isn't the foundation of what you are creating, again, it will not be successful. All right, so as an example, we use my speed to result program. So people that are doing this 14 day coaching program with me, the problem and the pain point that I'm going to dial in and help you solve is that podcasters really struggle with offer creation, offer pricing and creating an effective sales strategy. That is the specific problem that we are going to work together to solve. Look, if you have multiple offers, I bet if you look at the one that makes you the most money, it'll have a little bit more of a dialed in pain point. And I bet if you have something that isn't selling as well, I bet it's a little bit more vague. All right, so that's something to consider. And this is just marketing. I mean a lot of it. Like you just need to up your marketing, go, hey, you know, you seem to shine a light on. This is exactly. If you're struggling with this, have you ever felt like, have you ever struggled with. Insert the pain point. This is the program for you. We just have to do a better job of calling attention and putting that on the forefront versus here, all the shiny things that. Here's the course, here's the, the, the special AI tool, here's the. Those are all a part of the packaging. But what people are really concerned with is, is what are you going to help me solve? How are you going to help me solve a problem that I'm struggling with and doing it faster, more effectively, more efficiently than I could do it on my own? All right, so it starts with pain point. What is the problem that you are solving for your audience with your offer? That's the first P. The second P is promise. All right, what result are you promising your client once they complete your program? Now let. We need to get specific with this as well because here's the mistake that I made early on and the mistake that I know a lot of you will make early on. And this is something that my pod pal shout out to Amanda Walker, Best damn Coach podcast, listening to her content and just interacting with her. We've, you know, been in Mastermind stuff together and, and we're friends and she really kind of shook my brain on this point of like, the promise has to be something you can 100% guarantee. Deliver on example, with my offer, with my speed to result program, I'm not promising that you're going to make a certain amount of money. I can't do that. Like, I mean, I don't think I can legally do that, but I just, we can't go, hey, you're definitely going to make $10,000 with your offer. Like, I just can't make that promise. But you know what, What I can 100% deliver on, what I can 100% promise is, is that when we work together in this 14 day program, your offer will be 100% dialed in. We will address all four of these P's, the pain point, the promise, the package, and the price that will be dialed in. And I can promise that you're gonna have a content campaign to sell it to your audience effectively. You will have a strategy, a proven strategy. I can promise those two things. The four P's will be dialed in with your offer. You will have a content campaign and a strategy to sell the offer to your audience. I mean, past that, it's kind of, it's up to you on the, the effectiveness and how many sales you make. And, and all this stuff. Like I can't promise you're gonna make 10 sales or $10,000 or get rich and famous or that this will be the offer that you can scale forever because there's so many variables. You guys know this as coaches, as service providers. You know, if I had a weight loss program, I can't promise you you're going to lose a hundred pounds, but I can promise that you have a, a set workout routine and a macro goal to hit and you'll have a set game plan to execute every single day. I can promise you off support. So what can you actually 100% guarantee will happen? Promise. And we need to lean into that. All right, so again, it's not some imaginary goal thing. It's like what is rock solid? What is the rock solid? I can definitely promise you will walk away with this. 100 guaranteed. All right, what does that promise? That's the second P. The third P. Now we get into the stuff that we kind of tend to skip ahead to at the beginning. The third P is package. So what specific tools and resources are you going to give your clients? What are you going to provide them to maximize the results? What, what is, is included in there? So for my, my speed to result offer here, you're going to get two 30 minute one on one coaching sessions with me. We get some one on one time. You're also going to get 14 days of Voxer access. So that this is a part of what I'm calling my speed to result coaching strategy, where you get that one on one time with me. We can knock a lot of things out. But then for all those quick questions in between, we have walkie talkie text access. I don't give my phone number to my clients. I keep everything on voxer. I prefer that it's in a silo, it's not an email and it's not my private phone number. So it's a nice little sweet spot there. But people just ping me, hey, what do you think about this quick response back? And we're off and running. It allows us. That's why I Call this a speed to result package. We get quick results, we can build momentum quickly and efficiently. So 14 days of voxer access. Now, normally with this package, I'm gonna do 14 days of office hours, but with my beta group, I'm gonna give you. I'm double it. I'm gonna give you 28 days of office hours where you can pop in a few times a week and get small group coaching where we're working on specifically what you need help on. So this isn't group coaching where I show up and I teach on a topic. It's group coaching where you show up and go, adam, I need to dial in my pricing. We had talked about this in our one to one, I just want to get some more FaceTime with you. And you're gonna get that FaceTime and you actually get other people's input as well. You can go, hey, well here's what I think, you know, as the coach, but what does everybody else think about this price range? What would you buy at this price range? So it's really nice. Then the fourth thing included in my package here with this new offer, with this beta group is I've got an online course protocol, got several training videos in there. And also I created a few customized tools. I'm, I'm not using a, I'm not creating like AI tools yet. I haven't dove into that, but I do create a pretty nice little Google sheet, y'. All. I'm telling you, you get me in those Google sheets. They're, they're color coded. We got tabs on there. I feel pretty fancy. You know, not to get all braggy on you, but I do create a nice little Google sheet. I know you're impressed. So those are the four things that are included in the package. These, you know, the one on one coaching, the voxer access, the office hours access the online course with the tools that I customize for this. And again, it's all about speed to result. I'm not putting any fluff in there. Like the online course stuff, I think there's maybe eight or nine videos total. I'm not going to put 20 or 50 or whatever. And all my videos are usually three minutes or less. So you got about 20 minutes of video watching to do one on one coaching the boxer, the office hours, those are the, that's the minimum effective dose. I think that's something that a lot of us go, oh, and then there's this bonus and oh, and then there's these 12 other bonuses and sometimes we over bonus ourself and it overwhelms the buyer, and they don't buy. So keeping it simple, I think that's something that if we can err on the side of being. Looking for that minimum effective dose of what. What's the minimum effective dose of components that I need to put into this thing to get the. The result that I'm promising my clients. All right, that's the third B package, last P price. And this is where we all struggle. I still struggle with this, but I created something. I didn't create it. I. I saw some people talking about this. I. I hate to admit it, but I think. I think this is an Alex Hormozy thing. I'm not. I'm not a fan of Captain Nasal strip and. And flannel shirt, but I'm pretty sure this is the Hormozy thing. I. I really hate saying that, but I'm pretty sure that it is. He. He has a little price progression recommendation, and I've used this several times, and I actually do really like it. So shout out to Mr. Hermozi. If, in fact, I mean, he probably borrowed it from somebody else, but I'm pretty sure this is where I got it from. Okay, so it's a 65%, 85%, 100% progression. So when I'm working with you all in the program, I'll say, okay, what is the 100% price? That when somebody purchases your program, your offer at that price, you are thrilled. There is no regret. You're like, yes, I'm getting paid what I deserve. I'm psyched. Now. It's not like, oh, I got them. I. I overpriced it, or, you know, I'm just like, you are 100% satisfied. You feel comfortable. Like, okay, I can deliver value at that price point. That's your 100% price. What I like to do and what I like to do when I'm working with a client that has struggle with pricing, we have to build up your confidence to get to that price. So we start at 65% of that price. So you stick whatever your price is. So if you're, you know, let's just say a thousand dollars is Your. Is your 100% price. For the easy math, then we would start off at 650, 65% of 1000, and we. It depends on each individual, individual client when I'm working with you on this, but we usually set a goal of, like, all right, Excel, anywhere between three and five, sometimes three to 10. At that 65%, at least three sales, all right, that's going to build your confidence and that's going to get you testimonials as well. And like, if we can't make three sales at that price, we got to fix something. We have to fix one of the other piece usually. All right, so this allows us to test it and build up your confidence. And more times than not, we make some, some pretty quick sales and go, okay, cool. That is, that's going well. I'm making sales that build up my confidence. Once we cross our threshold, let's say it's in that, let's say it's five sales. You make your five sales at 65%, then we bump up the price to 85%. So in our example, if a thousand dollar is our 100% price, then 85% quick math is $850. We make three to five sales there. Once you make those three to five sales, now we've got six to ten testimonials. Your, your confidence is built up. We can move up to that 100% price progression and start selling it and lock it in there. So for me, just as an example, with this, this beta offer, I'm doing 10 beta spots at 500 bucks, which is a really, you know, that's a price that I feel very comfortable delivering on. That's kind of my 65% price. Then I'll, I'll nudge it up to 600 and then I'll probably lock it in 750 to 800 bucks once I'm at my 100% there. So it's a nice little progression with this beta group. I want to get testimonials and I, I have no idea if the beta spots are sold out at this point, because I'm recording this two weeks in advance. I'm recording this on Tuesday, May 19th. I just sent a newsletter yesterday opening the enrollment, and we already had a couple people sign up. So that makes me feel good. Right at that 500 price, people are buying it the first time they heard about it. That's a confidence builder right now. I know, okay, people are buying this as I talk about it more, as people hear it on the show, as people see it in my newsletter, as I talk about on social media, feel confident that we'll be able to fill up these beta spots and then we'll move to the next price point. And that's how this works. We build up our confidence as we gain experience with the offer. And again, this is just a, it's a nice protocol because if for some reason we aren't making those sales at a certain price point. We have to ask the question, why is it. But it's usually one of these other pieces. Is it the price? Is it the packaging? Or, you know, maybe this problem doesn't really exist at the level that we thought it did. So it allows us to analyze, you know, efficiently what the issues are, why it's not selling at a certain price point. And I like that because, again, going back to the start of the episode, I talked about my first three years, it was all guessing. I'm like, well, I have no idea who my audience is. I have no idea what they actually want. I've never created an offer before. Let's just try a whole bunch of stuff. And for me, none of it worked. And I couldn't figure out why none of it worked. That was the worst part. That's why I was just spinning my freaking wheels, not knowing what to tweak. Like, I may have had a winner offer in there. I just needed to tweak one of these P's and it would have. It would have started working. But I had no idea about this process. I had nobody to help me. So it was a lot of trial and error, heavy on the error, and not a lot of results. So I want to save you all from doing that. Hopefully that, you know, with this, the structure, you can take the four P's here and you can use them. Like, think about your offers. Or if you're creating an offer, again, think about the pain point. What problem are you solving with your offer? Think about the promise. What result can you. 100% guarantee you can promise your client they will have once they complete your program? Number three package. What specific tools are we putting in there? The resources, the tools. They're going to provide your clients with the best opportunity to succeed, maximize the results, and then what's the price point? What's that progression look like? That 65, 85, 100%. My clients love doing this. The price, especially because it takes a lot of pressure off because there's a set process of, okay, here's what we want to charge. We have to prove it to ourself and prove it to our audience that we can. We can actually make this happen. And as we build confidence, move through this, it's fun to see as a mentor of other online business owners, as other podcasters go through this, it really is exciting for me to see your confidence build up. Like, I love getting that email of Adam. I just put it out there. Three people bought the thing 65. Is it okay to go ahead and move up to 85? Yes. And I, I, I love that email or that message I get on Boxer when people are doing that and we see, we see success with this because I know how much it means. I know how much it meant for me to start earning meaningful income. I'm like, oh my God, I sold a thing and somebody paid me 500 bucks. This is crazy. This is awesome. I know what that means and that momentum that that gave me and my, my confidence, my business. And I want that for you all. So again, this is the, the last week of enrollment for my 14 day speed to result program. We are focusing all on what we talked about today. Optimizing your offer with this four piece process and then building a specific content campaign that is dialed in to sell this to your audience. You will get this done in 14 days and I can guarantee that pod pals click the link in the episode notes or head onto the main website. Podcasting Business school. It'll be over there as well. I appreciate you and I'm going to send you out into the world. Wishing you health, happiness and many downloads. I will see you on the next episode.