My Biggest Marketing Mistake...

Transcript

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Welcome to the Jason Moss Show, where established online business owners go to increase their income, freedom and impact.

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I'm your host, jason Moss.

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Let's dive in.

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So here's the truth.

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When I look back, over 18 plus years of building online businesses, I have made some major marketing mistakes, mist mistakes that have cost me hundreds of thousands of dollars of income, clients, of opportunities, things that I'm still kicking myself today.

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When I look back on those things and I'm like man, I wish I would have navigated this differently.

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And in this episode today, I want to share with you some of those mistakes and the lessons that I've learned about marketing along the way, things that I'm so excited to be able to offer to you, because these lessons are going to make the journey of marketing for you so much easier and my hope is, in you avoiding some of these pitfalls, you're going to be able to move forward so much faster and grow your business so much more quickly, because you can sidestep some of the biggest issues that I ran into along the way and just grow your business so much more easily and so much more quickly as a result.

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Super excited to dive into this today, can't wait to share this with you, and I want to start by taking you through a brief journey of my own experience growing my online coaching business from zero to over $500,000 a year in sales, which is where we are today, because a lot of these lessons are things that I've learned through that experience and I wanna share with you what I was doing to market this business at each stage of my revenue.

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Because, the truth is, the marketing plan that I'm using today is very different from the plan that I was using when I first got started, and also the plan that we're going to be using moving into 2025 is actually shifting significantly too, based on some of the lessons that I've learned even today.

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So I want to walk you through this and share with you really what I've been doing at each stage of this business to help it grow.

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And really, this business is not my first online business.

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I've been building online business for close to 20 years now, but basically, when I started this business was back in 2021.

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And the backstory actually to the pre-business was I was working as a director of sales helping one of my close friends in his business scale up his business, and one day he called me.

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This was about a month before my partner, kimberly and I were about to move to Colorado and he called me up one morning this was like a couple of minutes before a team meeting and he said Jason, I'm sorry, this is not working.

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I got to let you go.

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And I've never been fired before, I've never really had a job before.

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I'll be honest, this is like my first real official job other than like working at a pizza parlor in high school.

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I've always been an entrepreneur, but I realized through this experience that I'm I'm unemployable, like I am not someone to work for other people, and I'm really grateful that I got fired.

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But it was at that period of my life, which was around 2021, this was like I think it was like early days of the pandemic.

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This totally turned things upside down for me and it was just before we were about to make this major transition out to Colorado and basically start an entire new life in a new state.

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We were living in California at the time and I was, at that period of my life, really asking myself what do I want to do next?

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I had another business that I had been running on the side that had kind of dried up because I had stopped working on it, but it was producing a little bit of income, but for the most part, I was kind of like a free man again.

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I was like, okay, what do I want to do now?

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And I realized this thing that I'd always had a passion for, which is entrepreneurship, and helping build online businesses has always been something I've been doing since I was like 13 years old and made my first sale online.

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I wanted to help other people do this, and so that was the motivation behind starting this business.

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But really in the early days, I started the platform again from zero.

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I had been running another online business before I became a director of sales, but it was in a completely different niche I was helping musicians and so I basically started this business over from zero Zero followers.

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Effectively, my first two clients were actually people that I knew.

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One of them was someone who was on my sales team when I was director of sales, and one of them was a friend of Kimberly's.

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And so my first month out of the gate, actually, I had a pretty good month.

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I had like a 10K a month, like month one, but after that it was like crickets, because I had no audience, I had no platform.

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So I was like, okay.

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Well, what do I do to actually kickstart this business?

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And initially my marketing plan was very simple.

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It was I'm just going to get in the DMs and have conversations with people.

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I'm going to use intimacy and turn this quote unquote disadvantage of me being small, basically not having any audience, into an advantage.

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You know a lot of people I mentor who are maybe in the earlier days of their business.

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They look at where they're at and they're like oh, I don't have a lot going on, I don't have this big audience, and I'm like great, that's a huge asset because you can do things at that stage in your business that other people can't do, who are further along, other people who have larger platforms, like the fact that we have an email list of like over 10,000 people.

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Today I can't do the same things that I was doing when I was first starting.

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I couldn't establish the same level of intimacy and connection with every single person in my audience today because there's so much more of them.

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But if you're in the earlier days of your business, that's a huge advantage.

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So for me, what I did initially was I was just getting out there in the DMs every day.

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Actually, what I did was I had a virtual assistant on my team and he would add 50 friends on Facebook 50 coaches, because that's who I was working with and serving at that point as friends and about 25 of them would accept and I would just send every single one of them messages and I'd connect with them and I'd ask them about their challenges and their dreams and their goals when it comes to their business.

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And if I thought I could help them, initially I was just like, hey, do you want to just hop on a call and I'm happy to take a closer look and give you some free advice.

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And those calls many of them turned into sales calls and turned into clients Initially, honestly, this approach was not particularly effective because I didn't really have much of a platform.

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People are like who is this guy?

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So I was like on these calls all day and just hustling, having all these conversations, and it was somewhat effective.

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I mean I started making money.

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But then after that point I was like, okay, well, you know me, just having all these one-to-one conversations with people not a great use of my time.

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So I was like, okay, how can I start to use content in this whole process to warm people up and to start to better leverage my time and at that point I was probably making around like $5,000 a month.

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So I was like, okay, let me start creating live trainings.

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And I launched a Facebook group and I started going live every single week in that group and I would just get on camera like this and I would share trainings and I would go live and talk and teach.

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And so now, when I was having these conversations with people, instead of just getting on free coaching calls with them and spending all that time coaching them, I would say, hey, we've actually got this training inside our Facebook group.

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I think it'd be really helpful for you based on what you share with me.

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You want to go check it out?

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And I was redirecting people to those trainings and growing my group.

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And many of those people would come back to me after watching those trainings and say, hey, I'd love to learn more about coaching with you.

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So I started using content as a way of creating a bit more leverage around my time and that started to allow me to grow my business because I was able to speak to more people and have effectively more quote unquote conversations with people, because I could record a video and talk to like a hundred people or a thousand people at once, and that got me maybe to around 10 K a month.

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So when I help people grow and particularly, you know, if you're in the earlier stage of your business, maybe you're sub six figures.

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Oftentimes, what we're looking at initially is intimacy right, it's how can you build those one-to-one conversations into what you're doing, reach out to people, establish those connections with them.

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And then it's how do we start to introduce more content to allow you to leverage your time?

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So this is what I was doing.

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It got me to around 10K a month and you know I was like, okay, this is good.

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But I got a big vision I want to scale past this point.

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And so I was working with a business mentor who recommended paid traffic.

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He was like you're at a really good spot right now.

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You got a little bit of cash in the bank.

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Paid traffic would be a great way to scale.

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I was like, okay, well, initially I had some resistance around it because I had never run Facebook ads before.

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I had some experience running paid traffic in another business.

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I used to sell first aid kits on Amazon.

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That's a story for another day, but I didn't have much experience with paid traffic beyond that, and so initially my thought was well, I don't really understand how to do this, let me hire somebody else to help me do this.

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And I brought someone on my team and, long story short, after a couple months realized they and I don't mean to disparage anyone, she's just a wonderful person but I just don't think she did the best job at setting up our ads and I realized that actually I could set things up much more effectively and I learned how to do paid traffic myself.

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I ended up going through a course and learning more about this and I realized it wasn't actually as hard as I thought it was going to be.

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And this is oftentimes a big mental block that people have around paid traffic.

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They think it's going to be super difficult and when I mentor people, one of the biggest limiting beliefs people have that stop them from paid traffic is like oh, it sounds really scary because I've never done it before and I'm like no, it's actually not that hard, especially today.

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You know, with Facebook, meta, all these tools, they're so easy.

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So anyways, long story short, I basically learned how to run ads and set up a very simple funnel and basically I was advertising like a free guide where people could opt in and they download the guide and then, you know, on my email list and I start sharing lots of content, the videos that I was recording in my live group.

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I started sharing those out to my email list and so I had all of these people coming in through paid traffic every single day, and that really started to change.

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Allow me to grow and scale much more quickly, because now I wasn't limited by all of these one-to-one conversations in the DMs anymore.

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I could get in front of a lot more people at once because I was getting so many more leads coming into the business.

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So this, over the course of six months, took me from around $10,000 a month in revenue to around $60,000 a month in revenue in the business.

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Now, not all of that was profit, because now I was spending money on ads, but on average, for every dollar I would spend in paid traffic, I would get about $3 back.

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So it was a pretty good trade.

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Now around this time I also started creating a little bit more YouTube content, and so I was publishing more YouTube videos, but that was a little bit.

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Stop and start, and so I was publishing more YouTube videos, but that was a little bit stop and start.

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We did that for a while and I realized it wasn't super effective at bringing traffic into the business, at least in the short term.

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So I basically had this paid traffic engine running in our business and looking back, this was I think, one of the first moments where I won't say I made a mistake.

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But looking back I think it kind of was a mistake.

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Here's the thing about paid traffic it's very seductive because when you've got paid traffic running in your business and you have an engine in your business where you basically put in a dollar and that system brings you $3 or $4 or $2 or whatever the number is, is basically like you have a money printer in your business.

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And this is oftentimes like what happens when you set paid traffic up.

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And it's great and I love paid traffic and we still use paid traffic today.

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But the issue is that it's very easy to get a little bit lazy when you got that thing running and to under invest in other forms of traffic in your business.

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And for me, when I look back, what I see is we had this engine running with paid traffic, so I was like, oh you know, I don't really need to worry about creating organic that much, and I can kind of coast a little bit in that area and really just double down on paid traffic.

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And we don't really need to worry that much about building more authority and branding through getting on other people's podcasts or starting to build more of a presence in our market externally to pay traffic, because it's so easy to just turn on the faucet with paid traffic and you got leads coming in the business, you're making money and everything looks good.

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So the problem, I think, for us came when, several months ago, I made the decision that and at that point in our business we were running profitably, we were doing really well, but I made the decision in our business to stop working with brand new coaches and I realized I only wanted to work with established online business owners and helping those folks grow and scale their businesses.

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And so basically and I'll go into this in another episode why we decided to do this but I basically decided to let go of a large percentage of what was then our business and it was a challenging decision.

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It took me a long time to really take that leap and it was not an easy decision to make, but at that time I realized I was like, okay, I just this is what I know needs to happen.

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My intuition is guiding me towards this next step.

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I'm going to let go of this.

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But what it meant was that we had this, our audience that we had built up primarily through paid traffic, and now we're basically deciding like, okay, we're not going to sell to like 80% of them.

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Now, on top of that, we kind of under-invested a little bit in organic, so we had a little bit of a YouTube presence going, but, honestly, I wasn't creating like regular videos like this.

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Honestly, I wasn't creating like regular videos like this and as a result, the business basically like revenue, dropped pretty considerably almost overnight, and that was a very hard period and it was a period of several months that I feel like we're just now beginning to come out of.

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But what became clear to me through that transition was that pivot point had exposed that I basically had developed this like dependency on paid traffic in the business and I was so under invested in these other areas in terms of marketing that I didn't create the diversity of traffic to be able to make a pivot or a transition like that easier If you got all your eggs in any basket when it comes to your marketing and, honestly, I see entrepreneurs all the time who fall into this trap, whether it's maybe you've built a following on Instagram and you're all in on Instagram and then one day you wake up and your account gets shut down.

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Or maybe you're all in on paid traffic, like I was, and then your ad account gets shut down.

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Or you just make a pivot or a change in the business and realize that you're in a situation where, because you don't have diversity of traffic coming in, you're kind of screwed a little bit.

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Have diversity of traffic coming in, you're kind of screwed a little bit.

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This is the situation that we found ourselves in and it made that transition so much harder than it needed to be, and in many cases, I feel like I'm still navigating the challenges of under-investing in other sources of traffic.

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The amazing thing about organic and all of these forms of traffic it's not like there's one that is better than others.

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All have pros and cons, and this is not me bashing paid traffic.

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I love paid traffic.

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We still use paid traffic today.

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It's a great source of lead flow in a business.

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We have a whole program called Limitless Leads where we help people get up and running with paid traffic.

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My first coaching business that I'd ever built online it was really like I was selling online courses.

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It was called Behind the Speakers.

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This was a business that I built for musicians.

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I didn't do any paid traffic.

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I built that business primarily off the back of YouTube and so every week I was running, I was basically recording a video like this and I would publish it, and that business took a while to get running.

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Like the first year I only made around $5,000.

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I think the second year was like $70,000.

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The third year it hit six figures.

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But the nice thing about that was because I had created all these assets through these videos.

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Once they started showing up in YouTube, I had these things that were working for me and I could basically stop creating new videos and I would still have hundreds and hundreds of leads coming into the business every single month because of all of that content that I created.

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That was now ranking in YouTube search algorithm and showing up every month for people who were searching for the things that I was talking about, and it created a business that basically I mean.

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I stopped creating videos in that business and for years new leads were still coming into that business.

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They were still coming into the business when I shut it down relatively recently.

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I just decided to focus on other things.

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The business had run its course, but looking back, I think that that was an awesome way to grow a business.

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It was slow and that's the reason why most people don't like organic.

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No-transcript of content and marketing are slower and it's very easy to look at paid traffic as like, oh, this is the silver bullet.

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At least that's what I did and, looking back, I think the biggest mistake I made was under-investing in these other platforms when it comes to marketing.

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Hey, friend, hope you're enjoying this episode of the podcast and, before we get back to it, if you're an established online business owner who's serious about unlocking your next level of income and impact and growth in your business, I want you to watch my free million dollardollar online business training where I walk through a four-step roadmap.

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Now back to the episode.

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That brings me to where we are today and looking at 2025 and really mapping out what my focus is and where I want to spend my time and energy and attention on our marketing moving forward, and I want to share with you that plan and hopefully give you some just illuminate, some ways of thinking about marketing that might be helpful and useful for you.

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So the first thing is we're not running paid traffic.

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We're still running paid traffic today.

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It's still a great source of lead flow.

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We're still using it to generate new leads in the business on a daily basis and it's a great supplement to some of these other forms of traffic that are useful and valuable when it comes to growing your online business, your online business and when it comes to growing an online business, by the way, you only have three sources of traffic.

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You got paid, you got partnership and you got organic.

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You got paid traffic ads.

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You got partnerships, which is getting in front of other people's audiences, and then you got organic, which is you creating content videos like this, for example this is an organic strategy.

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Or recording a podcast or something like that.

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That's organic content, all useful.

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All have pros and cons.

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Here is the shift that I'm going to be making to my marketing moving forward.

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The focus moving forward is going to be on creating assets that have long-term potential value Very, very important to think about Now when it comes to growing your online business.

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There are so many activities you can do when it comes to marketing.

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So many different ways you can spend your time.

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You can do what I was doing when I first started my business go out in the DMs and just spend hours a day DMing people.

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You could do well with that strategy.

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And just spend hours a day DMing people.

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You could do well with that strategy.

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You could go invest a bunch of money into paid traffic.

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The problem with those approaches is that you're not building any assets when you do.

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When you have a DM conversation with someone, you might be able to create a connection with that person in the moment that makes them more likely to buy.

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Or maybe you can even make a sale in the moment by having that conversation, the moment that makes them more likely to buy.

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Or maybe you can even make a sale in the moment by having that conversation, but after that conversation is over, you have nothing to show for it other than that relationship that you built with that person.

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If you invest $1,000 into paid traffic today, you might be able to get a certain number of leads into your business, but the problem is, after you've invested that $1, other than the leads, you have nothing long-term to show for it.

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Versus creating a video or a podcast episode like this.

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I can record this once and people will discover it for years and years to come in the future.

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I just bought a course from someone on public speaking and I literally bought it last week or two weeks ago and I found this person on an episode of one of the other podcasts that I listened to and the episode was recorded nine months ago.

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So I found that episode and listened to this today, nine months later, and made the decision to buy that course based on listening to this person in that episode.

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That was an episode that someone created once, but there's an asset that they created through that interview, an asset that lives on and creates future value.

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So, when it comes to investing your time in your business, I think the highest leverage use of your time is to create assets, things that continue to live on.

00:23:42.115 --> 00:23:55.387
Continue to have value when it comes to your marketing, continue to bring new leads in your business, continue to warm people up and nurture them into the future, long after you actually record them or create them.

00:23:56.409 --> 00:24:00.541
So there's a couple of areas that we're going to be focused on moving forward.

00:24:00.541 --> 00:24:03.310
The first is our YouTube channel.

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I know YouTube really well because my first online business, my first real official online business, was really built off the back of YouTube.

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So I understand the algorithm, I understand how it works and what I love about YouTube is this the second biggest search engine.

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A lot of people don't realize this.

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Behind Google, youtube is number two, meaning.

00:24:24.957 --> 00:24:37.700
Every single day, your ideal clients are going into YouTube and typing in questions, things that they want to know about related to your niche and the problems that you can help them solve.

00:24:38.682 --> 00:24:52.470
So I'm really excited about doubling down on our YouTube channel, and the mistake that I made, I think, is not doing that earlier and not really taking that seriously enough, because I had this paid traffic thing running on the other side.

00:24:52.470 --> 00:25:00.194
That was like, oh great, I just got this engine running that I can just coast and not have to worry about that.

00:25:00.194 --> 00:25:42.357
But I'm really excited about doubling down and investing in our YouTube channel as well as our associated podcast, and the cool thing is, I can actually create this one asset just by recording this, because I'm on video if you're watching this on YouTube as well, as I'm recording this with a high quality mic so I can publish the same episode to our podcast and I can actually create an asset that lives in two places and continues to generate new interest, new audience members, as well as to nurture the people that are in our world and I record this once and that can live for years and years and years to come, as well as doing more interviews on other people's podcasts and other people's platforms.

00:25:42.357 --> 00:25:47.573
This is another area that we're really going to be doubling down on moving into 2025.

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Because those interviews not only do they have the potential to allow me to get in front of other people's audiences, where I can connect with more potential clients right away, but also those things live.

00:26:00.993 --> 00:26:05.807
They live in YouTube, they live in Google, they live in the podcast app.

00:26:05.807 --> 00:26:14.169
So when people are interested in learning more about me, they go into Apple podcasts and they search for my name.

00:26:14.169 --> 00:26:22.337
There's a bunch of episodes for podcasts that pop up and they can deepen that relationship with me without me even ever having to have a conversation.

00:26:23.448 --> 00:26:29.759
So what we are doing moving forward is really doubling down on creating assets that have long-term value.

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And I say long-term value because there's a big difference between assets that have long-term value potential and other assets you could create that don't.

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For example, one of the big reasons we really don't invest that heavily into our social media platforms and when I say social media I mean Facebook, instagram, tiktok, etc is when you post a piece of content on Facebook, it might be seen by a percentage of your audience during the hour or two, or maybe even a day or two after you actually post it, but a week later it's like it doesn't even exist.

00:27:12.978 --> 00:27:26.165
And so I see a lot of people similarly to what I was doing with outreach in the early days of my business who are spending all of their time creating content for their social media platforms.

00:27:26.165 --> 00:27:33.940
And I'm not saying this is a bad thing to do at a certain stage in your business.

00:27:33.940 --> 00:27:39.165
I actually think it could be a good thing to do because it's an easy way to get in front of people to start.

00:27:40.509 --> 00:28:05.617
But the problem is when that's your only marketing strategy and you're not invested into creating assets that have long-term shelf value, you end up in a situation where you're stuck on this social media hamster wheel and you have to continue to feed more and more and more into the machine of your social media profiles in order to continue to get visibility.

00:28:05.617 --> 00:28:30.212
I had one of my partners her friend is a very successful business coach and she recently confided to Kimberly that she's been pretty burned out from social media and part of it and I didn't have the opportunity to talk to her so I could be completely misreading this but part of it is her marketing strategy.

00:28:30.212 --> 00:29:11.539
What I see from the outside in is her marketing strategy is very heavily dependent on Instagram, so she's got to keep showing up, she's got to create content every day, she's got to keep doing stories and I'm not saying there isn't value to social media, but if that's your primary platform and you're not showing up and building assets externally to those platforms in places where they have long-term discovery potential, then I think you're setting yourself up for a business that, at a certain point, is going to feel like a prison, and I see so many people do this because they end up stuck in this social media hamster wheel.

00:29:11.539 --> 00:29:15.189
This is what happens when you don't create long-term assets.

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Similarly, we, in some ways, have created a version of this in our business by being too heavily dependent on paid traffic and under investing in these other areas.

00:29:26.931 --> 00:30:02.045
So the lesson for you today is look at where you're spending your time and energy and focus when it comes to your marketing and zoom out and ask yourself are the activities that I'm focused on today setting me up for more freedom, for more flexibility, for more of the business that I really want in the future, or are they things that I'm doing just to generate short-term results today?

00:30:02.045 --> 00:30:31.175
Just to generate short-term results today and shifting more of your focus in your business towards creating assets is probably the first shift that I think a lot of people can make away from things that have no return beyond what you're doing in the moment with someone, and shifting towards creating things that can actually do more of your marketing for you Videos, content, etc.

00:30:31.175 --> 00:30:46.430
That's the first shift that most people need to make in order to grow their business and then, from there, shifting from assets that create immediate short-term value, like posting a reel on social media or posting a live or story or something like that Again, not bad things.

00:30:46.430 --> 00:30:58.688
They have a place in your business, but shifting the focus from primarily focusing on that stuff to doing things that generate long-term value, that have discovery potential years down the line.

00:30:58.688 --> 00:31:34.179
So incredibly powerful, because those shifts are the shifts that are going to set you up three years, five years down the line, for a business that allows you the freedom that I think most entrepreneurs really want the freedom to be able to step away, to be able to not constantly have to be creating more and more, but to have that engine that's working for you and to not have to constantly feed it with either your time or your cash.

00:31:34.179 --> 00:31:37.337
I hope this was valuable and helpful for you today.

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I hope you learned some lessons from listening to this journey and my story and so excited to hear the impact as you implement these things in your business.

00:31:46.664 --> 00:31:54.015
We got so much more good stuff coming on the podcast on this YouTube channel, so stay tuned and I will see you in the next episode.

00:31:54.015 --> 00:31:58.053
Thanks so much for listening to this episode of the podcast.

00:31:58.053 --> 00:32:02.824
I hope you enjoyed it and, if you're listening on Apple Podcasts or Spotify, consider leaving a review.

00:32:02.824 --> 00:32:04.027
It really helps the show and will help new people discover it, and if you're listening on Apple Podcasts or Spotify, consider leaving a review.

00:32:04.027 --> 00:32:09.306
It really helps the show and will help new people discover it, and if you enjoyed this episode, share it with a friend.

00:32:09.606 --> 00:32:12.615
There's so many people out there that could benefit from this material.

00:32:12.615 --> 00:32:27.592
I want to pass this along and if you're serious about growing your online business and ready to unlock your next level of income and growth, I want you to check out my free million dollar online business training now, where I walk through the four step roadmap.

00:32:27.592 --> 00:32:33.452
I've personally used to sell well over a million dollars of coaching, consulting and courses online.

00:32:33.452 --> 00:32:39.430
You can watch this right now for free by going to jasonmosscom forward slash growth.

00:32:39.430 --> 00:32:45.338
That's jasonmosscom forward slash G-R-O-W-T-H.

00:32:45.338 --> 00:32:46.580
I hope to see you there.