Yeah, I thought your SEO issue might solve itself. Typically people freak out a little when they see their site drop from the serp, but even an established site can dance around sometimes. Sometimes you just need to give it some time to see what's going on with the SERP.
As I said before, I think the more important issue is the conversion rate you're getting from the hops. So, here's a few things I think might help.
First off, the topic of your site is "the diet plan", that's what your targeting for, and that's what visitors are expecting when they get to your site. That's a good thing.
The bad thing is, you've pretty much just thrown all your content out there with a few links to some related offers and a few ads to related products. There's nothing in your content that gives your visitors any real reason to check out any of those related offers.
All your "call to action" links lead the visitor to believe they're going to check out "the diet plan". Some of them do take them to your post where you actually give them "the diet plan", and others take them to an offer that has nothing to do with "the diet plan". Both of those things are losing you sales. The links to your actual "the diet plan" post is losing sales because you just gave them what they want, now they don't need to go buy anything. The links to your sales offer is losing conversions because they are expecting to find the "the diet plan" and instead have landed on a sales page for something else. The offer is related, but isn't what they're expecting or looking for.
So how can you fix that? OK, here's what I suggest.
First, I would get rid of the sidebar and the top banner. For this type of website you'll do better by actually inserting your ads directly within the content. So give your site a single column theme.
Image ads are still very effective though, so you'll still want to have a few but the ones you have will go to your offers. The best place for an image ad is in the top left of your content and then have the content wrap around it. The next best place to have an image ad (if you have a long post) is just below the fold that way once they scroll the first ad off the page there is another one still there to catch the visitors attention. If it's not a long article, then skip that ad and just place another ad at the end of the post. If it is a long article then you can have the one in the middle, and another one at the end of the post.
The first ad is best if it's an image ad, the ones in the middle and the end of the article can be either image ads or 'call to action' links.
Next, I would remove the posts in which you actually give away "the diet plan" for free and replace that post with a squeeze page (I'll explain more about that in a bit). Then in all the other posts about "the diet plan" just talk about how great it is or whatever and include a 'call to action' link to the new squeeze page. The top left image ad on those posts will also link to that squeeze page.
Now what you want to have on the squeeze page is an email submit form where you'll collect the visitors first name (so you can personalize you correspondence) and their email address (which is where you'll send "the diet plan" for free).
Now you have visitors showing up on your site looking for "the diet plan", they find some good posts explaining how good it is AND a way to get "the diet plan" for free by email. Then once they submit their email, it's given to your autoresponder which then sends them the information they requested (which is "the diet plan").
So how does this website restructure help you make more sales?
OK, this is the good part. You've streamlined your site now so it's much more targeted for the information it's promoted for. You've already have a few posts promoting "the diet plan" and a way they can get it free. Now you can add a few more posts on the website promoting your other offers.
Start with the 'ab building' offer you already have set up. Write another post in the same 'this is great for a ballerina' type style, but let them know it's an additional offer for getting a tight tummy (or whatever). Talk about what a great program it is and explain that they can see a great video presentation. In the case of that particular video I would actually even tell them it's a 20 minute video so they know there actually will be an end to it.

I would also probably include at least a hint at the price, (ie. similar programs sell for $200 and more, this program doesn't even cost a quarter of that).
Along with the additional posts on your website, you will also add this offer in the email you send with "the diet plan". You can either include a promotion in the actual "the diet plan" email, or you can compose a follow up email which will promote the 'ab builder' offer.
So now what you have is a website targeted for "the diet plan", anyone landing on your site will find exactly what they expected, and can get "the diet plan" by filling out your request form. On that website you have some additional posts promoting your related offer. Anyone that follows the links in those posts will land on the sales page and find exactly what they are expecting. The visitors the click the link to the sales page are now warmed up prospects and will be much more likely to watch the video and it will be more likely for some percentage of them to convert into sales.
At the same time you now have a secondary method to present your offers. The people that actually showed enough interest to request "the diet plan" be sent to them, can now be sent follow up emails promoting the 'ab builder' offer as well. Those visitors that submitted their emails are now your prospects. You can send them a series of emails, first "the diet plan", then an immediate or next day followup newsletter promoting the 'ab builder' program. Then you can continue sending a weekly (or monthly) newletter promoting additional related offers. All you need for that is an autoresponder and include a way for them to opt out of future mailings.
If you restructure your site like that and include the list building squeeze page, then you should expect to start seeing an increase in conversions on your offers.
One thing to note about all that. Your site is already indexed based on the posts you already have. So you don't want to do a complete makeover. Just eliminate the PPC, which should have no effect on the SEO of your site. Then edit you're existing posts about "the diet plan" just enough to add your image ads and 'call to action' links to you're squeeze page. For the squeeze page you'll just edit the post that currently has the actual diet plan, remove the diet and add your email submit form. Doing it that way will leave all your permalinks the same, and should have little if any effect on your current SERP rankings.
Also for the same reason, the posts promoting the 'ab builder' program can be made as new posts, and some of your existing posts can be repurposed for the new offer as well. Just remember, if you so repurpose any existing posts, try to do it in such a way as to not remove references to "the diet plan". I hope I explained that well enough, you're goal is not to adversely affect the SERP ranking of those pages.
Anyway, sorry for such a long post. I just typed it in straight through and don't really feel like proof reading it. So sorry for any errors.
Maybe it can give you some good ideas though.
Hope it helps. Good luck.
(I changed the name of your diet plan to "the diet plan" through out the post so this page doesn't end up getting indexed for your terms. No need for your target visitors to find this page. lol)