WW 197: 5 Marketing Mistakes Money Coaches Make and What To Do Instead - Solo Show
In this week’s episode, I’m sharing 5 of the biggest mistakes that I see money coaches make in their marketing. I’ve made my fair share of these mistakes, so this is coming from a “been there, done that” educational perspective, but they’re also mistakes that coaches are making pretty often, and that are keeping your clients guessing at how you can actually help them, so I’m also sharing HOW you can fix these mistakes in your own marketing. Loving this episode? Take a screenshot and share it on Instagram! Tag me so I can send you some love (@Tess_Wicks)
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Recommended Listen: Episode 192: Why “Less is More” In Your Financial Coaching Business
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A Quick Recap from this episode
In this week’s episode, I’m sharing 5 of the biggest mistakes that I see money coaches make in their marketing. I’ve made my fair share of these mistakes, so this is coming from a “been there, done that” educational perspective, but they’re also mistakes that coaches are making pretty often, and that are keeping your clients guessing at how you can actually help them, so I’m also sharing HOW you can fix these mistakes in your own marketing.
Let’s dive in to the 5 marketing mistakes:
Over complicate their marketing efforts (having too many opt-ins, no direction on what action the client should take, trying to spin too many plates)
Too many coaches lose sight of the power of simplicity. They convince themselves it must be more complicated - there must be more that they can do.
Remember the rule of 4 ones (check out episode 192: Why “Less is More”)One niche market so you can become a specialist, a subject-matter expert, easily identify them, solve their problems effortlessly, get rave reviews, and have your clients attract more of their own)
One high-touch program (to start with) so you can build top-of-mind awareness on what you are known for and how you work with client (you can always have secret menu items, but the one program is what you market and invite people into)
One conversion mechanism - this is where people tend to overcomplicate their marketing. They'll do direct outreach, free download, a week-long challenge, a low-priced product, and keep adding on when the others don't work. It makes it really hard to a.) manage and b.) measure the success of each and tweak to improve it. They’re spinning way too many plates and can't tell which plate is the bottleneck or the most effective because they’re busy running between them and trying to keep them all up.
Eventually you can definitely have multiple conversion mechanisms, but this should come after you know one is effective and you're just ready to add on OR you're expanding your product suite.One traffic source - another way to be spinning too many plates. Pick one platform where you know your ideal clients are hanging out, and just worry about mastering that while you’re building things out.
Again, eventually you may be able to streamline it and move on to another platform
Try to be ~original~ and never repeat themselves
Your job is not to reinvent the wheel, it’s to develop top-of-mind awareness around your core topics of content (i.e. probably the things you help your clients with in your signature program) and be a broken record around that.
Drop the pressure - it’s too much to keep coming up with new things. Stop trying to come up with something that’s never been said or done before and make it your own, then repeat it, repeat it, repeat it.
Don’t forget that people need to hear things 7-14 times before they actually take it and implement. Because of that, you can re-use graphics, re-use captions, re-purpose other content. Start with identifying the content that does the best, and use it a couple months later. If you share one day in one format, share the next day in another (i.e. IG posts then IG story).Talk about the vehicle, not the destination
Most coaches are too esoteric in their marketing (i.e. "I help heart-centered women step into their power and manifest more money in their life")Who, tangibly? - How do I know if I'm a heart-centered woman?
What's the tangible result? - What does it actually look like, feel like to step into your power? And how can we bring manifestation down to earth?
Change it to “articulate the value of their work and confidently ask for a raise” and see how much better it would resonate with your client.
Give too much of the "how" instead of the end result - in 2 ways (nitty gritty steps & logistics).If you start over-articulating the nitty gritty of each and every step, it can feel like too much, especially if the client hasn't invested yet.
They want to know this will be a simple process for them - which is why we name our processes, but don't worry about over-articulating exactly what that process looks like.
Your client doesn't need to know that you've included 99 video lessons and they will get 66 minutes with you every other week, instead, they need to know that you have a process that will get them where they want to go - where do they want to go?
Give too much away (even though it’s not possible…"there is more than enough", BUT also not reasonable "your audience hasn't committed to learning so much")
You need to understand the “Free Value Paradox” - the more steps you give away for free, the less likely your audience will actually act on them. They haven’t invested in this information, they haven’t committed to make it happen, so the more you give away for free, the less effective and beneficial it actually is for the people receiving it.Those who pay, pay attention.
Too much information is a turn off when they come to a platform with short attention spans, expecting to get one golden nugget, and are overwhelmed with 15.
Instead, make ONE point. It can have a few steps, but your goal with your marketing content isn’t to give it all away (even though it isn’t possible) but to help your audience get one small win - to experience the effectiveness of your direction and coaching, and to really understand that there is far more where that came from.
Not calling your audience to action
The “give 80%, take 20%” mythNot talking about your offer and asking people to take action! We understand the 80/20 rule in terms of providing value 80% of the time, and then only asking 20% of the time, but I think people make 2 mistakes here.
They completely misunderstand the 80/20 rule. It’s not to make 4 posts that are value-add and then 1 post that asks to take action, it’s to provide value and ask in the same post, just make that value significantly helpful, and also provide the prospect with how to take the next step
That step isn’t always going to be to “buy your product” either. It’s to get your audience comfortable with taking direction from you, as the authority in this space and their potential future coach. You’re somewhat training them - maybe your CTA is to go out and implement and then report back, or “Have you tried this before? Yes or no?” or “Comment below what day you’re going to start doing this with your budget.”
The other mistake is that people chicken out when it comes time for them to talk about their offer and invite people to take the next step.
They experience a sense of guilt, shame, fear of rejection and judgement, that they shy away from it altogether.
These are normal feelings, but allowing them to control your behavior will be your downfall.
You have to stand in your confident identity as a business owner. As much as you are a coach who wants to help your ideal clients change their lives, you also run a business. Businesses need to make money in order to stay alive, you need to make money in order to bring your best self to the calls, and you need to make money to be a good example and role-model for your clients.
Don’t forget that if you’re ready to keep your pricing simple and get some help making more sales, then it’s time for you to grab the Online Coach’s Pricing Workbook below!
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