Could You Accidentally Be Creating Buyer Confusion?

Hey Friend!

I will be doing live coaching today with Teresa Davis. We clean up her brand but most importantly we clean up her offers. Unbeknownst to her she was accidentally causing buyer confusion and I see this often when my students first come into Podcast to Profit. 

They either don’t have the right offer, have too many offers, or have a collaboration of offers that they think are actually getting people to buy but, in essence, are creating buyer confusion. It’s getting them distracted from what we want them to do. 

Today, we are doing a strategy overhaul and creating an offer roadmap to help Teresa, plus you’ll get a sneak peek of what live coaching can look like inside Podcast to Profit.

So, if you want to know more about how to prevent buyer confusion, keep reading. We are about to find out!

How To Monetize Your Podcast With The Right Offer

Stef: Let me welcome my very special guest, Teresa! 

Teresa: Thank you, Stefanie, I am so excited to be here and for our time together. I’m ready.

Stef: Friends, I want you to get out a notebook and pen. Write down: 

• how does this apply to me?

I will disclaimer that Teresa is pretty far in her journey. She is not at the beginner stages anymore. She has the podcast and some monetization offers. Don’t let what I coach Teresa on distract you from what step you are on.

Have that in your mind. Use this as a learning experience, but definitely stay in the step you are in.

Let’s begin by telling everyone:

1. About your brand
2. The topics you want to talk most about today 
3. And the number one question you have

The Online Course For Grieving Mothers Who Experienced Loss

Teresa: I have a podcast on grief and I just recently released a course. I am a one-woman show. I am self-taught and have done everything on my own. I’m at a place now where I am at the end of me. 

Anyway, I released a course that is on grief. There are 6 modules in it and it hits on all the pain points for grief and for grieving well. I was trying to decide how to make it as available as possible.

There are three tracks that include modules with videos and a workbook: 

1. I have a track where you can buy an individual model 
2. You can buy the entire course of 6 modules that are self-guided 
3. You can buy the entire course of 6 modules that are live-guided with me. That would look like an hour a week to cover the entire 6 weeks, plus a bonus Q&A at the end. That comes to a total of 7 weeks for those folks.

I have not had much success. I’m stuck.

Stef: What’s your podcast called?

Teresa: The Grief Mentor with Teresa Davis. 

Stef: Is “With Teresa Davis” part of your title for the podcast?

Teresa: Yes

Stef: Cut that out. You already have roughly 10K downloads, correct?

Teresa: I’m about 200 away.

Stef: Everyone, go download Teresa’s podcast, and let’s get her to 10K downloads!

How many episodes do you have?

Calculating Your Superfan Number and Podcast Conversion Rate

Teresa: I have 54. I mostly have monologues. I recently had a little help restructuring my podcast. It’s 3 monologues and 1 interview a month right now. 

Stef: So you have about 185-200 people that are recurring listeners to your episodes.

Teresa: I did listen to your episode 199, and I went back and found my super fan number, and you’re right there on target. That is the correct super fan number.

Stef: When you think about this, we have to have realistic expectations from where we are. Why I am doing this math is to tell her, “Hey, we have 10,000 downloads and 54 episodes. When we take the 10,000 and divide it by 54 we see about 185 recurring listeners that are here”. 

This tells me we have 185 people who are sitting at the restaurant, sitting at the table, holding the menu going like “I’m ready”. Tell me what to buy. I’m so ready. Where is my waitress? I want the thing. 

And, If we look at what our goal starter-conversion is, it would be 1%. That’s what I give to everyone because that’s where we start if we aren’t an expert in selling. We have to learn to be an expert at selling over time. 

The 1% conversion for you would look like two sales a month. Is that what’s happening right now?

Teresa:  No, I have had about 4 sales since the launch 6 months ago. 

Streamline Your Offers and Create Less Buyer Confusion

Stef: Here’s what we need to do. We are going to clean up the tracks. 

You have probably experienced this through my boot camp as you were considering joining Podcast to Profit. When you heard all the offers I have, did you have a moment of confusion? Were you thinking: “Which one do I do? Which one is for me?”

Teresa: Yes.

Stef: That’s because I have two tracks. Now, granted the majority of people I sell to come through my show, they know me intimately well, I am so clear, they hear me every single episode, etc and there’s no buyer confusion. 

But when we do something like this where we bring people in and we have tracks like you have set up, people get confused and lost because they are new to you. We have to be as obvious and simplified as we can be until we have a few 100 people going through track one and then they ask “Can I go to the next thing now?”. That typically happens around 100,000-200,00K in revenue. You will see at that level that you will have to add another step for your audience. 

What I think is happening, which is so easy to clean up, is we just have some buyer confusion right now. They are thinking they don’t know which track to do. And of those 4 sales, what did they buy? Which of the tracks did they purchase?

Teresa: What I didn’t mention, is that I offer some one-on-one live coaching and two of those sales were some one-on-one coaching. Only one person has purchased the self-guided 6-module track.

The Strategy Behind Pricing Your Online Course

Stef: What are the prices of the 3 tracks?

Teresa: Individual $47, self-guide $297, and $597 for the track guided by me

Stef:  And how much is the 1:1 live coaching?

Teresa: $97 for one session with me.

Stef: Right there is your first problem. Teresa is more affordable than her course. So who on earth would choose the course when they can just sit with you and crush this thing? They’re always going to pick live coaching when you are available. That’s not a bad thing at all. That’s fine. You have sold live coaching and you have sold a course. That’s great.

The question is, what do you want? Do you want to have a coaching client or do you want to sell the course? Which one would you choose if you could only pick one of those things?

Teresa: Sell the course.

Stop Offering Live Coaching – Focus Strictly on Online Course Sales Instead

Stef: Ok, so here’s what we are going to do. We are not going to market live coaching anymore. We aren’t going to get rid of it. I’ll tell you what we are going to do with it in a minute.

Imagine this:

• You have your podcast
• People start listening to your podcast
• You begin to sell just the self-guided course
• You encourage them to buy “The Road Map for Grief” without talking about any other offer

Here’s what this is going to sound like:

“Friends, you are going to buy The Road Map for Grief and this is going to take you through 6 steps to really finding that healing place in your grieving process. You are going to learn this. And this….

Then they are like, “Oooh, this is the only solution that I’m going to walk in right now.” 

Everyone is going to think I’m going to buy that!

We are going to get rid of the individual models. That is not helping anybody to take one module. Get rid of that completely and take that down.

So, they come in a buy this self-guided $297 course.

And have a payment plan on that — for 3 months at $132 a month (this way you can grab your payment plan people). 

When they go to checkout, there is a bump offer or a next step that says:

 “Wait, want to go through this live with me? Upgrade a become a Roadmap for Grief VIP.” 

And those people can choose to upgrade to the live guided and become a VIP for $597. 

We never sell that. It’s an upsell. This way there is no buyer confusion. They will just experience that at the checkout. 

Rework The Offer – Upgraded To Private Coaching For Students Only

Stef: Now, the last thing on how to structure this is inside the self-guided course is to answer these questions inside your sales page:

• “Are you stuck?” 
• “Do you need help?” 
• “Grab a one-time grief session with me.”

Only your students can buy the one-hour grief session with Teresa. That’s where the coaching sales go down.

Those live coaching sessions are not happening on the front end, it’s only happening for your students inside the program. 

Why I am telling you this, Teresa? Because your student who spends a dollar with you, that same student thinks “You know what, I actually want the live guided. I’m stuck, I’m feeling it this week. I’m going to grab an hour with Teresa.” 

That same one student who has bought all different things with you, but they had to come in all under one clear track. Verses trying to sell 3 different things to 3 different people. That proves to be much more difficult. Does that make sense?

Discovery Call Dilemma – What Should You Offer To Your Client?

Teresa: Yes, it does. I do have a question. I have a discovery call that is linked in all of my show notes. So, now I say “Let’s chat”. What do I do now at the discovery call?

Stef: Discovery calls are fantastic for selling coaching. You can take those discovery calls to sell your course and help them choose between self-guided and regular live coaching. But, you have to start marketing the course straight on the podcast. From today forward, you sell a course and that is the solution for everyone.

But if you have someone who needs a call, take the call. Let’s phase away from taking the discovery calls and instead sell the course on the podcast.

But remember, your podcast is your discovery call. 

People already know you. They already hear you. 

Since your super fan number is small can still use coaching if you need a cash influx. You can say that you have only 3 coaching calls available for this month. You can do pockets of coaching on occasion to help increase cash flow since your superfan number is small. 

But, we have to get serious about being clear with your audience about the one track they are taking. Be sure to market this to your audience:

• Everyone goes through the Roadmap for Grief. 

• Here’s why.

• Inside the course, there will be opportunities for you to be able to coach with me. 

• You’ll go through all the material inside the course. 

• Here are the benefits of becoming a student. 

But the question I am posing back to you is: do we really need a discovery call to sell that course?

The Time Frame To Testing Out An Offer Matters

Teresa: That has been the best offer people are taking—the discovery call. It’s because everyone wants everything for free. 

From my perspective, when I’m talking face-to-face with a grieving mother, that 30-minute discovery call turns into an hour. It’s very difficult to look at a face and deny that. It’s hard to charge her and to sell her the course when she’s grieving. I really struggle with sales. That’s one of my issues.

Stef: Now, what I’m going to have you say is: 

• “I’m excited to be learning how to do sales.” 
• “I’m pumped up at becoming excellent at selling.” 
• “I’m excited to get these moms in a safe place where they can grow.” 

Here’s something else to consider.  The reason why I went with the self-guided course is because it’s less expensive for her. But, once they get into the self-guided program, give them an opportunity to upgrade for 30 days. They can upgrade to the coaching track because they realize they need you. They need to spend time with you. 

So, I want you to test this method out for 6 months. Don’t change one thing. We have to do this long enough to see if it’s working. We often times try things for a month and give up because it didn’t work. That’s not long enough. Do it for a minimum of 6 months and then you can reevaluate. 

Maybe I want to transfer this into a more live guided group coaching program later. We don’t know that until we test one thing at a time for 6 months. 

What I think I heard you say is “I think I would not like to do the discovery call because it’s an hour, it’s hard and I feel like I have to charge”. 

I can’t imagine how difficult that must be to get off of a Zoom call with someone who is grieving. That’s very difficult. 

Reposition Podcast Pitches With Your Best Offer

Teresa: Yes, because I get the desperation calls. And I have personally suffered child loss so I have a lot of moms who are suffering from that. They might be 2-6 weeks into their journey. It’s really difficult to cut that off. It’s very hard.

Stef: Of course. Let’s try some repositioning into just marketing directly to the course on the podcast. Use the pitches I gave you. I want you to really dig into that for 6 months.

Let me recap:

• Teresa is going to have her title to be “The Grief Mentor” and drop “with Teresa Davis” as part of her podcast title.

• She is cutting out selling one module at a time. 

• She’s taking coaching off of the marketing table and bringing it in under the course umbrella. Only students can grab the one-hour live coaching call.

• Live-guided is going to go as a bump offer to people once they purchase the course. 

• You’ll want everyone to buy the course and stay on that track and then throw in a bump offer that offers a group coaching experience.

• They can only bump up to the group coaching after purchasing the course.

• And you are going to do this for 6 months without looking up! 

Teresa: That sounds amazing. Thank you so much. 

Stef: I want to hear that update

Stef: ok I will, this is great, thanks Stefanie.

Power Coaching Wrapping It Up

So what did you think? Did you love that power coaching episode with Teresa? If you did, I encourage you to come and apply for Podcast to Profit, which is the only way you can get focused one-on-one live coaching time with me. So come on over to www.podcasttoprofitmastermind.com.  Be sure to check it out but don’t wait. 

Get that application in because I want to start drilling into the details with you just like I did with Teresa. As soon as you have your podcast launched into this world you can come into the program and learn: 

• How to optimize your show

• Utilize podcast SEO keywords so you can grow your podcast organically

• Get found on the Apple podcast app and in the search engines 

• Learn how to utilize repurposing such as blogging and Pinterest

• Create your offers, such as coaching and courses

• Learn how to set up a simple website that is going to work for you

• And email marketing. 

This program has it all. 

At the end of 6 months, your business is ready to go BOOM! So if you are ready for that head on over to www.podcasttoprofitmastermind.com.

And if you don’t have a podcast yet, don’t worry. Simply note that in your application. Then we will shoot you over a very special bundle offer where you will get both Podcast Pro University and Podcast to Profit so you can get this thing done. 

I pray this blesses you!

Xo,

Stef

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