Why my first offer made $0.00
Hey Pod Pals!
This newsletter was lovingly curated (without the use of any AI) in real time on Thursday morning at 8:52am CST.
The kids are off to school and my morning walk/coffee combo has been checked off the list!
Two quick things before we dive in today:
➡️ 1. Next week I'm doing a four day free challenge inside of my Skool community.
If you are feeling slightly burned out from social media promo and want to learn my most simple & effective strategies for promoting podcast episodes...this challenge is for you!
➡️ 2. My Skool community is FREE but there is a Premium tier upgrade available where you can get access to my growth & monetization courses and weekly group coaching with me.
Right now the Premium tier is only $9/month, but next Wednesday(8/26) I'm raising the price to $19/month.
You can lock in the cheaper price when you join the community.
📈 Today we are going to talk about the specific process I put my clients through when I help them create (or optimize) an offer.
I've had a LOT of you reach out this week after you listened to my most recent episode with my client Amy.
We talked about how she was able to earn $15,000 from a 3 episode podcast content campaign....and her podcast gets under 100 downloads per episode.
We unpacked almost everything in the episode, but I didn't get to break down the offer creation process so I wanted to use our little newsletter chat today to dive into that topic........because it's a big deal!
Here's the big mistake that most new online business owners make when they create their first offer:
👉 We make it about what WE think our audience needs and what WE are interested/excited about.
Once again...I have a very sad personal example.
Back in 2015 I launched my first podcast (a weightloss show) and after five episodes I was like...
"I'm now a pro at this so let's start selling some stuff ..dolla dolla billz yall!!!" 💰🚀😎💵
So I invested the next 10 weeks (and a bunch of money) into learning how to film and create an online course.
And when it came time to release the Kraken and make some money 🚀🚀🚀🚀
.......crickets. 🦗 🦗 🦗
After a few hundred more episodes and the years of business experience that came with them....
I came up with a better way to create offers that I call my 4P's Offer Creation framework.
✔️ 1. Pain Point: What problem are you solving for your clients with this offer?
✔️ 2. Promise: What result are you promising your client once they complete your program?
✔️ 3. Package: What specific tools, support, and resources are your clients going to have access to in order to maximize their results.
✔️ 4. Price: What price are you going to charge in exchange for delivering a positive result for your clients.
Let's use the program that Amy bought from me as an example of the 4P's.
The offer she purchased was my 14 Day Speed To Result 1:1 Coaching program.
- Pain Point: Amy was struggling to make sales via her podcast....as in she had made ZERO sales so far.
It's a tale as old as time.....podcasters aren't making any money!
Please note that this process starts with what your AUDIENCE needs help with....not what YOU think is cool/interesting at the moment.
What's the best way to figure out the pain points of your audience?
Ask them!
- Promise: With this program I was able to make two concrete promises to Amy.
-Her offer would be 100% dialed in (via this 4P's process)
-We would develop a 3-week content campaign to sell her offer to her audience.
*This is the area where most of us get it wrong.
We think that a promise can be something like:
❌ You will lose 20 pounds.
❌ You will make your first $1,000 sale.
❌ You will be happier and healthier.
Your promise for your offer must be concrete things that you can 100% guarantee will happen.
I could 100% guarantee that Amy's offer would be optimized via my 4P's process and she would have a content campaign ready to go.
She ended up making $15,000....but I could never promise a result like that.
- Package: With her 14 day program Amy gained access to the following tools, support, and resources:
-Online course to walk her through 4P's and Content Campaign Creation.
-Two 30 minute 1:1 coaching sessions with me.
-14 days of quick Q&A access to me via the Voxer messaging app.
-14 days of Friday Office Hours pop in group coaching.
- Price: Amy got a great deal because she joined my BETA group for this offer when I launched it.
I really like to stair step my pricing when I test a new offer out. It helps me build confidence and collect testimonials as I raise the price.
Here's how I do it:
-Set my 100% dream price. This is where I eventually want the offer price to be.
-I start with 65% of that price. This is my BETA group and I will make 3-5 sales at this price.
-Next I bump up the price to 85% of my dream price. I make 3-5 more sales here and then I move it up to 100%.
Ok...let's wrap up and talk about what all this means for you.
I want you to think about your offers and put them through this 4P's framework.
Take extra time to think through your PROMISE...again this is where most of us struggle!
If you are already inside of my Skool community I'd love to see what your 4P's look like. Just create a fresh post with "My 4P's" in the subject line and I will give you some feedback!
Talk to you next week!
Your Pod Pal,
Adam