Latest / Values-First Marketing / The Best Marketing Strategy For Your Mastermind Group

Transcript

The Best Marketing Strategy For Your Mastermind Group · Values-First Marketing

• 0:00
  Unknown: Welcome to the copywriting for coaches podcast.
• 0:02
  Unknown: My name is Megan catchin, and I am obsessed with having your brand actually sound like you on the internet. We help you write all the things that you've been trying to articulate about your business but have never been able to put into copy. We're going to go deep to uplevel your business without adding more to your already full plate. We'll keep it simple and sustainable.
• 0:22
  Unknown: Sound like a breath of relief.
• 0:22
  Unknown: Let's dive in. Feel like your mastermind isn't growing, even though you are working so hard.
• 0:30
  Unknown: This one marketing shift could change everything. If you are running a mastermind and feel like it's not growing as fast as you'd like it to you're in the right place. Finding the best marketing strategy for your mastermind can feel like a challenge with all the different tactics that are out there, but it doesn't have to be overwhelming. Whether you are experimenting with email marketing, live events or Instagram stories, the key is figuring out what works best for you, your strengths and the unique value that your mastermind brings. In this episode, we are going to dive into how you can choose the right the marketing strategy that aligns with your vision and goals. And this is all coming from real world insights from six experienced mastermind hosts that I interviewed, from leveraging referrals to running Facebook ads. There is no one size fits all answer as nice as that would be, but by the end of this episode, you will have clarity on which approach could help you take your mastermind to the next level. So let's talk about growing your mastermind in a way that feels both authentic and effective. First, let's get on the same page with what even do we mean by a mastermind group. So mastermind groups in the online coaching industry can have different connotations and mean different things to different people, and you can join several different masterminds and have a different experience in each one I know I have. So first, let's define what we mean. A mastermind is defined as a group that gathers, quote like minded professionals to get peer support, brainstorm ideas and create accountability.
• 2:08
  Unknown: That's according to science of people, which I will link in the show notes. There is a live interaction among all members, not just a one way, like a traditional teacher student scenario, and you get the multiplier effect of not just working with one person, but you get both peers and leader guiding you. As Dallas Travers said, everyone is sharing their experiences and expertise, not just relying on the leader to provide all of the value. It takes the pressure off the leader and makes the program richer. She said that so well.
• 2:42
  Unknown: And business masterminds are often more than about just business people working through similar things in life too. For example, Tricia hosts the mom mastermind, which helps women change their perspectives around the choices they have with work and motherhood. And then I love what Lauren Armstrong said, She's the leader of the projector playground masked our mind. She said it's actually really powerful for the whole group when you share something that seems minuscule to you, but you're all sort of going through that same thing in the same way, and it often ends up being the thing that everyone gets the most out of. So I love that it is very, a very community like feel and you can get such a sense of belonging there. So we all like this is such a fundamental human nature thing.
• 3:34
  Unknown: We all want the sense of belonging, and you know that you can provide it as a mastermind host. So how do you fill out your mastermind. There's no, like I said, no right way to market your mastermind, and every type of marketing works.
• 3:49
  Unknown: You just need to figure out what works best for you, your personality, your strengths and your gifts. In fact, all of the contributors to this article, this interview series that I did, they all market their masterminds differently and successfully. They all have booked out their programs, and they each, literally, each did it in a different way. So let me run through all the different ways that it can be done. One is email marketing. Send regular, valuable content to your subscribers, promote your mastermind to this engaged audience. It allows for personalized communication and is highly effective for conversion. More people are going to see it in your inbox, and you can build that subscriber list through SEO and maybe even a small ad budget if you want to go there as well.
• 4:36
  Unknown: SEO is free content that lives on your website, which can include blogs, embedded podcasts and YouTube videos, these pieces of content link to a relevant lead magnet, which then can build your email list. You can also get referrals, which seems like the most common way when your mastermind is both get results and is fun, then your members can become natural advocate. Kits for you encourage referrals by creating a referral program or affiliate system and reward the members who bring in new participants. You can also connect through Instagram stories. This is such a powerful way to feel like they for your audience, to feel like they know you, like you and trust you. So utilize platforms like Instagram in particular, through the stories and regular video content. Video allows your audience to connect with you on a personal level, building trust and rapport. You can share insights behind the scenes, glimpses and success stories that are related to your mastermind. Another way to do it is run live events like workshops and intensives, workshops, webinars, intensives, master classes, all of those can be an effective way to showcase your expertise and the value of your mastermind. These events provide a platform for direct interaction with potential participants. Another way is to collaborate with others. This relationship form of marketing, I feel like, has been coming increasingly popular. You can partner with others in your niche or industry that have adjacent skill sets or things that they offer and they have a similar audience. So this could look like doing a freebie swap, running a workshop together, speaking on a podcast or being a guest expert in their program.
• 6:21
  Unknown: The point is to leverage each other's audiences so it can expand your reach and theirs.
• 6:29
  Unknown: And it's a win win for both of you. We talked about running Facebook ads, paid advertising on Facebook can be targeted to reach your ideal audience. You can run ads promoting your lead magnet a Facebook group to nurture them and make sure they're a good fit before inviting them to join your mastermind. Another way that it's done is by creating a podcast. Hosting a podcast can position you as an authority in your field. When you share valuable insights, invite guest experts and mention your mastermind during episodes. That is a way that you can reach a dedicated and loyal audience and completely fill out your programs. As you can see, the key to marketing your mastermind lies in finding the approach that aligns with your strengths and preferences, and that is why I created my signature 3m funnel roadmap, which is something that I offer in my power hours, and also something that I do with my done for you clients as well.
• 7:24
  Unknown: You can learn more about both of those in the show notes or go to copywriting for coaches podcast.com but basically so, yes, I'm a copywriter, but the greatest copy in the world isn't going to work if you don't have the marketing strategy in place for it. So that's why I always check your marketing strategy first make sure everything makes sense before proceeding with your copy, because I want you to get an ROI on your copy just as much as you do. Right? My success as a copywriter is tied with yours. Your success is my success too. So next thing that often comes up when launching is, should I do rolling enrollment, or should I do a launch model? And again, there is no correct answer here. It depends on your goals and the environment you want to create.
• 8:15
  Unknown: So let's talk through the pros and cons of each so you can decide or pivot to the model that is right for you in this season, right? And that can change. That is totally allowed to change. You have permission to do that. Okay? So rolling enrollment. So rolling enrollment allows individuals to join when it makes sense for them, not when the cart closes.
• 8:39
  Unknown: It eliminates the urgency associated with the fixed launch dates, which, depending how you look at it, could be a pro or a con. A Pro is the continuous continuous growth. So without rolling enrollment, your mastermind group can cannot continuously grow. They can only join on the open cart dates. But with this continuous growth, with the rolling enrollment, new members join as others complete their journey or leave, maintaining a dynamic and evolving community, and this allows more steady income, predictable income stream for you, since you're consistently bringing in new members, the cons of rolling enrollment or there's less cohesion. So since people are joining at different times, which can be random, there might be less group cohesion compared to a fixed cohort. Sometimes it's nice to like journey with your cohort for that specified time period, and you really grow close to the people in your cohort. So it can be challenging to build the same level of intimacy and camaraderie among members, though, of course, not impossible at all.
• 9:48
  Unknown: Another con of rolling enrollment is the management complexity. So you're managing multiple entry points, and just can add a little bit more to the administrative part of it. So you'll just need a bunch of. Uh, solid systems in place to onboard new members smoothly and integrate them into the existing group. All right, then we have the launch model, which is popular. So the pros are that you get those intimate cohorts, because they're set start and end dates. It creates a strong sense of community. You go through it together, you have these shared experiences and really develop deeper connections. There's also more focused attention during the specific timeframe, which makes it easier for you as a facilitator to provide that personalized support and guidance that's going to get them the results that we're looking for. And you can also set clear milestones so the fixed duration of the cohort allows for clear milestones and goals, and members can see the progress that they're making together. Again, not that you can't do that with the rolling enrollment. It just makes it a little more administratively and systematically challenging, and I like to keep things simple. So then, okay, so let's talk about the other side. The flip side of launching, the cons, are that there's limited entry points. So launching means you have specific enrollment pyramids, which pyramids, specific enrollment periods which might not align with the timing of potential members when they're ready, when they feel called to join, when it's going to help them in that particular season.
• 11:20
  Unknown: So this can lead to missed opportunities if someone is interested but can't join during a launch period. And there's more income variability as well, since it depends on the success of your launches, and during non launch periods, your revenue might dip. Obviously, there are ways you can account for this, but it is something to consider.
• 11:41
  Unknown: And then there is the pressure to fill the cohorts. There is often so much pressure to fill each cohort to ensure a vibrant and engaging group. The big fear is like, what if only one person joins? Right? But if you struggle with enrollment during a launch, it can be stressful, but there's also a lot of merit to really serving that one person well, or there's other ways to make it more of a win win all the way around as well.
• 12:09
  Unknown: So ultimately, the choice between rolling enrollment and launching depends on your goals, preferences and the nature of your group. If you prioritize community and can handle the administrative aspects of rolling in enrollment that might be the right choice. On the other hand, if you want to create a sense of a shared journey and can effectively market and fill your launches, the launch model might be more suitable. Some facilitators can even experiment with a hybrid approach, combining elements of both models to find the right balance. So it's kind of a lot to consider and holding both of your hands here. So if you want to strategize your enrollment process or and or get all the copy written for all of that, which it's always so much more than we think it is, once we sit down to actually do it, I invite you to check out my services guide and then show notes to get started for all the done for you and done with you ways and that you can get support with all of that, because it is a lot, and your focus needs to be on other things as well, primarily connecting with your ideal clients, with those one on one conversations, and not necessarily in the back end of a Google Doc, writing all the copy for it. That's where I come in.
• 13:13
  Unknown: Okay, so then we also talked about the most common problems that masterminds address. And again, if you are running a mastermind as I run through these, take note and think about which ones are your participants speaking of as problems. And then check your sales page, check your copy, check your messaging guide, and see if these are listed on there. So one is isolation, the lonely entrepreneur finding a supportive network, and Masterminds being that place where they have a community, where you can connect, share experiences, find support from like minded peers, someone else who is going through it too, and gets it truly. Truly gets it.
• 14:00
  Unknown: They want that safe space where they can share their struggles, get that emotional support and gain encouragement from others who truly understand their journey. Number two is accountability. Holding yourself accountable can be challenging, especially when we're working independently. Masterminds offer a structure that encourages accountability through goal setting, progress tracking and regular check ins, just having other people there, even co working sessions honestly feel like an accountability. Check three is lack of expertise, so business owners and professionals may face specific challenges for which they lack the expertise or experience. For example, there's like masterminds on how to run a Facebook ad. If that is a skill that you don't have but it is a skill that you want to use, then maybe that particular mastermind would be good for you. So it brings diverse individuals with different skill sets and allows members to tap into the collective. Knowledge and gain insights from experts in various fields, always enriching four is limited perspectives. When facing business problems, it's easy to get stuck in a narrow perspective. Masterminds provide a platform for participants to receive input and diverse perspectives from others, helping them see new possibilities and solutions. I feel like that is very true when hiring a copywriter as well.
• 15:22
  Unknown: Oftentimes, hiring copywriter is not really about the actual writing of the words, but it's about opening the perspective and allowing yourself to be seen in a different way by someone who is experienced in your industry. Anyways, let's move on to number five, decision making.
• 15:43
  Unknown: Critical. Decision making can be overwhelming, for sure, and having a group of trusted peers to bounce ideas off of can be invaluable. Mastermind members can offer feedback, advice and different perspectives to aid in the decision making processes.
• 15:58
  Unknown: Six is skill development. We talked about that one a little bit. So providing a platform for skill development through workshops, presentations and knowledge sharing sessions.
• 16:08
  Unknown: Seven is business strategy. We all know that is crucial for for success. So facilitating those strategic discussions, idea generation, getting feedback, oftentimes, that is where a lot of your market research can come from, or some of it at least, so you can refine your business plan and identify growth opportunities there. And number eight is networking and partnerships. Mastermind groups foster connections and networking opportunities among members. You get to know each other on that deeper level beyond just, you know, some networking event, so it can lead to potential collaborations that are really aligned, partnerships, business, referrals, all those things. So overall, mastermind hosts create an environment that addresses the unique challenges, needs of their participants, fostering growth, collaboration, support and problem solving within the group. So you obviously don't need to handle all eight of these, but choose the one or two or few that really resonate with you, and make sure to highlight how you overcome those common problems that people are searching for when they're searching for a mastermind. Now that you know the best marketing strategies for your mastermind group that are out there, it's time to decide which one is best for you. Maybe that helps you affirm that your current marketing strategy is really the one that feels good and is right for you. Or maybe you're like, hey, I kind of want to try this other one. So it is evident that these communities offer more than just professional support.
• 17:43
  Unknown: They provide a platform for personal and collective growth, from the flexible structures of rolling enrollments to the intimate cohorts of launching models masterminds adapt to diverse needs, and the key is aligning your goals and learning style with the right group. It is a continuous process to find what's going to work for you, whether you're leveraging established marketing channels or contemplating what could work for you. I hope that these insights that were culminated together from six different experienced mastermind hosts. I hope that they guide you toward creating an impactful and transformative experience, both in your marketing and in the actual mastermind experience itself. If you would like support in marketing your mastermind group, I again encourage and invite you to download my services guide so that you can be intentional about simplifying your client getting system. Thank you for tuning in to the copywriting for coaches podcast. If you've been enjoying these episodes, let me know that you're listening and what you love about it by clicking on the copywriting for coaches show in Apple podcasts and leaving me a review. Be sure to subscribe while you're there so it's easy to catch new episodes every week if you want digital resources to finish that copy project you've been working on, the links are all waiting for you at copywriting for coaches podcast.com you.