How to fix your online business revenue roadblock.
Hey Pod Pals!
This newsletter was lovingly curated (without the use of any AI) in real time on Thursday morning at 9:13 am CST.
Our family summer schedule shift is now in full effect.....this is going to really challenge my internal drive for consistent structure with my schedule...LOL!
I've got to slam my cold brew coffee and knock out this newsletter before I take Henry to high school football practice!
Let's do this!
This week's newsletter is being sponsored by my NEW 21 day bootcamp that starts on Monday! ⤵️
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(LAST CHANCE!) Coming June 9th: The 21 Day High Value Newsletter Bootcamp for Podcasters.
I will teach you how to implement the newsletter system that has allowed me to:
🛑 Stop creating/using lead magnets.
🛑 Stop creating/using email funnels.
👍 Reduce time creating podcast content by 50%.
📈 Increase my email list by hundreds of subscribers per month.
💰 Get new clients and ramp up revenue every week.
Check out all of the bootcamp information HERE.
✔️ Weekly group coaching.
✔️ Online training and workbook.
✔️ Accountability cohorts.
✔️ Weekly Office Hours for extra help.
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This week we are going to talk about how to DISCOVER and FIX your online business revenue roadblock.
In my early days as an online business entrepreneur I would get SUPER frustrated because I felt like I was working hard and doing all the things like:
➡️ creating offers
➡️ promoting offers
➡️ building my audience
BUT...the income wasn't flowing in!
Eventually I figured out how to analyze and fix this but it took me three YEARS to get there.....I don't want you to go through three years of financial frustration like me!
So today I'm going to teach you the framework I developed called the Revenue Roadblock Analysis.
This framework is going to help you figure out which area of your Client Acquisition Pathway is blocked:
✔️ Leads
✔️ Funnel
✔️ Sales & Solutions
Once we figure out which area has the roadblock we can get to work on fixing the situation and getting that revenue flowing!
🎯 Let's start by taking a look at your leads.
If your audience size is 10 people and your audience to potential client conversion rate is about 1-3% then you can run the numbers and see that you have less than one potential lead/client in your audience right now.
If we can grow your audience to 100 people with the same conversion rate you now have 1-3 total potential clients in your audience.
If we can grow your audience to 1,000 people with the same conversion rate you now have 10-30 potential clients in your audience.
So, the key question to ask yourself is: 👉 Are you seeing consistent audience growth with your podcast downloads, email list, and at least one social media account?
If NOT, then this is your area of focus.
You aren't generating revenue because your audience is just too small right now.
Here are a few solutions to consider:
1. Grow your podcast audience by focusing on my three buckets of podcast growth:
Organic discovery
Effort based marketing
Paid marketing strategies
2. Grow your email list with a lead magnet or a high value newsletter.
3. Focus on growing the social media platform where you can most easily connect with ideal fit audience members.
🎯 Next let's analyze to see if your funnel is where the roadblock is at.
If your audience is consistently growing but you aren't seeing any interest in your discovery/sales calls and people aren't buying your offer.... that means we need to take a peek at your funnel.
There are four stages of the Client Conversion Pathway:
➡️ 1. The Passive Free Zone: These are audience members that passively consume your content like podcast episodes.
➡️ 2. The Active Free Zone: These are audience members that have opted into your email list and are showing up to interact with you for webinars, free challenges, etc.
➡️ 3. The Discovery Call Bridge: These are audience members that are showing interest in working with you so they sign up for a Discovery Call.
➡️ 4. The Ideal Fit Offer Zone: This is where you match the ideal fit offer that you provide with the audience member's pain point that they want to solve....CONGRATS...you've got a new client!
If your audience members are not going through this process I've got two solid solutions to consider:
✔️ 1. Increase your Active Free Zone efforts. Your audience may be stuck in the Passive Free Zone and we just need to activate them.
Try doing a free workshop or challenge each month that is focused on helping your audience members solve a big pain point.
✔️ 2. Increase your Discovery Call focused promotion. I would suggest using a discovery call CTA (call to action) in your podcast and email marketing for several weeks in a row.
This will work well if your audience is activated and they are questioning what their next step should be.
Raising awareness around your Discovery Call Bridge will give them that next step!
🎯 Finally, let's analyze your Sales & Solutions.
If you are booking consistent discovery calls but aren't making many sales....this is your roadblock!
If your discovery call sales success rate is below 50% I would take some time to analyze the following questions:
➡️ 1. Does your offer solve the pain point that your prospects actually want to solve?
Sometimes we create offers that WE think are important...but our potential clients don't see it the same way.
➡️ 2. Is your pricing off?
I'm not just talking about prices being too HIGH....they might be too LOW...and your prospects aren't taking them seriously!
➡️ 3. Do you need to improve your discovery call onboarding process?
Maybe the people showing up for discovery calls aren't good fit clients!
➡️ 4. Do you need to improve your discovery call execution?
Many people are scheduling too much time for these and they turn into full blown free coaching sessions.
This leaves the prospect feeling like their problem has been solved for free....no need to hire anybody!
➡️ 5. Do you have an effective follow up process?
I would guess that THIS is the issue for most of the people reading this newsletter.
You cannot expect everyone to sign up right there on the discovery call. You MUST have an organized lead tracking and follow up process to close more deals.
Now let's summarize and take action!
With the information above, you should be able to figure out which area you need to focus on:
Leads
Funnel
Sales & Solutions
Your next step is to focus your efforts on fixing the roadblock in that specific area.....let's get to work!
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🤩 Client testimonial of the week: My client Kristen Edwards has a show called Amplify Ambition.
Check out what she has to say about working with me inside of my Online Business Academy for Podcasters:
"I joined the Online Business Academy for Podcasters because I needed help with creating offers that align with my podcast mission without overthinking each and every step. My favorite part about being an academy member is our training calls because the community gives me new ideas and steps to take with clear and concrete action steps."
➡️ If you are ready to get some help with learning how to leverage your podcast to build your online business..... Hop on my Podcast Profit Potential Discovery Call Calendar and we can talk about working together.
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New Content & Resources for this week:
🎙️ Podcasting Business School EP 572: A simple strategy to increase revenue & get better client results.
🚀 Podcast Launch Tips EP 094: Four podcast growth goals to aim for after your launch.
💰 Podcast Monetization Tips EP 003: Three podcasting superpowers for service providers.
✍🏻 SuperThread Of The Week: Many online business owners are missing out on sales because they aren't being strategic with their discovery calls. Steal the 7 step strategy that produces an 80% closing rate for my discovery calls.
📰 Newsletter recommendation: My Pod Pal Ana Xavier has a great newsletter called The Podcast Space.
If you enjoy my newsletter you will probably like this one as well because Ana dishes out tips on how to boost your visibility and amplify your influence.
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I hope that you are enjoying this weekly newsletter!
I'm off to take Henry to football practice. I discovered that if I park close enough to the school I can "borrow" their wifi and get some work done in my car! #WINNING
Talk to you next week!
Your Pod Pal,
Adam
⭐️ P.S. Ready for some help with your podcast launch, growth, or with getting more clients from your podcast?⭐️
Sign up for a FREE Podcast Profit Potential Discovery Call.