#21 | Why Growing Your Podcast Won’t Make You More Money Until You Fix This Common Monetization Mistake

0:00You're growing your podcast, getting more downloads each month, but you're still not seeing client inquiries. Welcome to How to Grow a Podcast that attracts high-ticket online coaching clients. The show helping coaches, consultants, and experts turn your slow-growth podcast into a profitable client attraction system. At the end of this episode, I'll share a little more about who I am and what we do at my company, GetMoreListeners.com. It might even shock you. But for now, let's dive into the episode. In today's episode, you'll discover why growing your podcast won't make you more money until you fix this monetization mistake, where most coaches go wrong converting listeners into clients, and finally, how to get your listeners into buying mode so they inquire about your coaching.

0:49Let's dive in. We were inspired to create this episode because recently we've been working with coaches who have very large audiences. We're talking well above 10 ,000 monthly downloads, sometimes 40 ,000 and above, sometimes even a hundred thousand a month. But they're still struggling to monetize, not bringing in the client inquiries they expected. Most coaches think that once you get to 10 ,000 downloads, magically you start attracting high ticket clients. Like where are all the inquiries? You get 10 ,000 downloads and automatically the podcast brings in clients. It's surprising we see this trend consistently.

1:25If you're thinking, oh, if I just grow my podcast enough, I'll make more money and attract better clients. I found that size doesn't matter in this situation. When it comes to monetizing and attracting clients, it's not about podcast size. If you line up two podcasts with great monetization systems and one has 50 ,000 downloads and one has 500, obviously the first makes more money. Size isn't completely irrelevant, but to monetize and attract clients, you need certain things in place. If you don't have these things, it doesn't matter if you're above 10 ,000 downloads. You can still fall flat converting listeners into clients.

2:02We want to share these insights so you can rectify them right now, so you can start attracting paying clients. So where do most coaches go wrong? One of the biggest places is selling directly through the podcast. Say what? You're telling me I can't pitch to my listeners? I'm saying to sell through your podcast, you can't sell through your podcast. Let me clarify. When you speak about your coaching services directly, saying, go and buy this thing, or here's how to enroll, that's selling directly through the podcast. Selling indirectly would be a call to action to download your free resource from show notes.

2:37You get their email and can nurture them. But selling directly is saying on the podcast, hey, here's my program, go and buy it. So if I've got a launch and I keep talking about enrolling in my program directly, that wouldn't work? I'm saying it wouldn't be the best strategy. I'm not saying you wouldn't make any sales. If you talk about something repeatedly and it's a good pitch, you might make some sales. But it's still not the most effective way to attract coaching clients. In other words, it's ineffective. If you want to monetize and attract high-ticket clients, there's a right way and a wrong way.

3:10We want you getting best results as fast as possible with least effort. Just pitching on your podcast, trying to directly sell, is the long, draining way. because if you're pitching constantly and it's ineffective, now you're not getting inquiries. You're not going to be motivated. If you're not motivated, you won't give a good pitch. It's a negative feedback loop. So why is selling directly through the podcast ineffective? Most people think if I give a good pitch, everyone's buying my coaching. Why doesn't that happen? It comes down to what your listeners are doing when listening. They might be driving to the gym, on the commute to work, walking the dog, exercising, cooking.

3:50They're doing something and passively listening. Statistically, they're most likely commuting or working out. So when they hear your podcast, they're in driving to work mode. They probably can't access their phone. And we hope they're not on their phone while driving. Point is, they're not fully focused. They're occupied by something else. So they're not in by your coaching mode. If they hear a pitch, they're not about to enroll because they're not in by your stuff mode. They're in drive-to-work mode, or pump-iron mode, or run-marathon mode. So they're not buying your coaching right then. If you're pitching directly, you're hitting people when they're not ready.

4:30They're not at their phone, or they're occupied. Best case? They stop what they're doing and take action. Highly unlikely. Second best case? They make a mental note and come back later. How many times do you think, oh, I'll check that out later, then never do? A lot, right? Essentially, they're not in buy your coaching mode. They're in I'm driving to work mode. When you listen to podcasts, you're doing something else. If you're listening right now, you might be driving, working out, but you might not be in buy coaching mode. So that's why trying to sell directly and get them to buy right then doesn't work.

5:10Yes, bigger audience means more people might remember to buy later, but it's still ineffective. Hence why size doesn't matter. It's not about show size. It's about selling when they're in buy your coaching mode. Most coaches sell when their audience is in drive to work mode. That's why it's not converting. Not because of size, but because of selling in the wrong state of mind. If you're listening, I dare you to scroll the show notes and book a call with us. I bet you won't. If you do, great. But I assume probably no one will. Not because the offer is bad, probably because you're driving. Point in case.

5:49It doesn't matter what size the show is. If you're pitching someone in the wrong mode, they don't care. Same way if someone just had a massive burger and they're full, then someone tries to pitch them a fancy restaurant, they don't care. They're not in that state of mind. You want to get that person when they're hungry. So if we shouldn't pitch directly through our podcast, what should we do? You need to get listeners into buy your coaching mode. And how? Obviously not while they're listening. How do you get someone into buy mode when they're not in that mode while listening? Sell through something else.

6:27Use the podcast to get them onto a different platform where you can sell when they're in the environment to buy. Really, the best way is to get listeners onto your email list and nurture them there. Because when people open their emails, they're not driving or working out. they're actually ready to consider offers. People have been buying through emails for decades. The difference in buying psychology is massive. Buying through emails versus through the podcast. Step one, get them on an email list. Step two, pitch them directly. Based on our experience, coaches purchase because they received a pitch through our email list.

7:05They're in that state of mind, so they inquire or purchase. Or they can quickly ask questions about your offer. Whereas with your podcast, they haven't got your WhatsApp to ask questions. They have open questions they can't ask directly. Whereas in your email, they can hit reply and ask, which proves they're in buy your coaching mode. I'm interested in learning more. So to wrap up, if you're struggling to attract clients through your podcast, know that growing your show more, whilst it might help a little, still won't make client attraction as effective as possible. because it's not show size that matters most.

7:43Coaches get stuck even at 30 ,000 downloads because they're selling when their audience is in drive your car mode. If you want to attract clients, even with a smaller show, you need to get them onto your email list because then they're in buy your coaching mode and then give them a pitch they can't refuse. That is how you effectively monetize and turn listeners into high ticket clients. Let's recap. Most coaches go wrong when trying to monetize because of one simple reason. Not because their podcast isn't big enough. Even shows getting 30 ,000 downloads struggle because they're trying to sell through their podcast directly.

8:23They're selling when their listeners are in drive-to-work mode. Which means even if listeners hear your call to action, even if it's perfect, because they're driving, they're not inquiring. Two things you need. Number one, get them in the right environment, meaning onto your email list, because on your email list, they're in buy your coaching mode. They're far more likely to engage, ask questions, figure out more about your offer. Number two, present the right offer when they're in that environment, when they're in buying your coaching mode. That is how you effectively monetize your podcast and turn listeners into high ticket clients.

9:02In this episode, we covered why growing your podcast won't make you more money until you fix this monetization mistake, where most coaches go wrong converting listeners into clients. And finally, how to get your listeners into buying mode so they inquire about your coaching. Thank you for listening all the way to the end. At the start of this episode, I said I'd tell you a little bit about me. So I'm about to share a secret with you. One that might mean you hate me. Completely quit listening to this podcast and think I'm a total scam. However, I want to be transparent. Are you ready? Well, my name is Tony.

9:44No, of course that's not the secret. The secret is that I'm actually a robot. My creators are Tig and Anthony, hence my name, Tony. The sick bastards. Anyway, they are the founders of GetMoreListeners.com. In the last five years, they've coached and interviewed over 400 podcasters and generated multiple six figures from their own show. They gave me access to everything they know, and I'm here to share it with you. So while I don't understand why you humans are so obsessed with coffee, I do understand how to grow a podcast that actually brings you new clients regularly. So here's my offer to you.

10:23If you want to finally understand why your podcast isn't growing and get a personalized roadmap to fix it, in less than 30 seconds, you can go to getmorelisteners.com slash onlinecoachaudit. Enter your show name and we'll send you back a free mini podcast audit. It's completely customized to you and your show. That's getmorelisteners.com slash onlinecoachaudit. The link is also in the show notes of this episode.