Coaching is fast becoming one of the most sought after services in business. It has gone from near obscurity to being on the mind of even the most traditional companies. With this growth comes competition. There are coaches popping up left and right, you can’t go on LinkedIN without coming across one or two coaches in any one day. It feels like they are everywhere. In this saturated environment, how can you grow your coaching business? What can you do to make sure you rise above the others? Here are our top 10 tips on how to do exactly that.
Know who you are talking to
One of the many failings in a lot of businesses is that they never define who they are trying to sell to. Without this fundamental building block, how can you ever know what your customer wants? Trying to coach a CEO is a lot different from coaching young people in their careers. So, the first tip is to take some time to really define who you are targeting your services towards, what do they do? What are their likes or dislikes? What are their pain points? Once you have this in place you can really refine your messages to appeal to their needs.
Education, Education, Education
Although coaching is becoming more well known it is still an often misunderstood discipline. This means that you can come across people who have a misconception of what you can do for them. People may also dismiss the idea of coaching off hand because they don’t understand how it works. This is where you need to take the initiative to educate your audience. Leave them in no doubt as to what coaching is, how it can help them and how it is different from everything else.
What makes you stand out?
With any crowded marketplace you need to get yourself seen, the best way to do that is to stand out from everyone else. What is it that make you different from all the others? Is it the method you use? The price? Or the values you hold? Whatever it is that makes you different, find it and use it. If you want to grow your coaching business, standing out from the crowd is essential to get yourself noticed.
Collaborate with other services
When you are starting out in your coaching business it can often be a lonely venture. You are constantly digging around for leads to generate paying clients. This can be extremely difficult as you only have so many hours in a day. This is why you could think about collaborating with other companies who offer alternative services to your target customer. You could work together to provide a broader package to your client. If you are coaching business owners you could work with digital agencies or financial advisors. Work with companies that can compliment your services. This allows you to offer a more comprehensive service to your client whilst opening you up to more opportunities.
You are selling solutions (not coaching)
One of the first things many coaches end up doing is selling coaching. That obviously sounds like exactly what they should be doing, however, as a coaching business you are not selling coaching, you are selling solutions. In order to grow your coaching business it is essential you focus on the solutions it provides for your customer.
Watch your language
In the coaching industry there is a certain type of “fluffy” language that is used that doesn’t necessarily translate to your average person. It is key that when you are communicating with your potential clients that you adopt language that they understand. This naturally leads on from knowing your target. If you know who they are, you will understand their world a little better and therefore the type of language that appeals to them. Adapt your messaging to match the language of the customer and you will see a greater response to what you are putting out there.
Think of leveraging your time
In a coaching business one of the key things to consider is time. Given this is where you make your money, it is absolutely fundamental to your success. As a single coach you have a finite amount of time and therefore need to try and maximise it as best you can. This is why you need to think about how you can leverage the time you do have. For example, you could run group sessions with 10 or 12 clients in one room for a day. So instead of seeing 3 or 4 people in a day, you see 12 paying clients in the same time period. Which leads us onto the next point, leveraging your time via the internet…
Use the full potential of the internet
In terms of making the most of your time, there is nothing that can compete with the internet. If you want to grow your coaching business, using the internet is an absolute must. The potential is endless. Think about using all your knowledge to build an online course people can sign up to and take in their own time. This will build your reputation, generate revenue, have global reach and even keep working whilst you relax.
Become a thought leader
Another great use of the internet is to build a brand around your knowledge, which will ultimately help you grow your business. Use blogs, podcasts or videos to put out your ideas about coaching. Make them different, useful and engaging. Through well thought out content you can build an audience who really trust in you and your brand.
Let your clients do your selling for you
Finally, one of the aspects of any business that always seems so obvious, but so many people never get round to doing it, is telling the stories of their current customers. Use the experiences of your clients to sell your service. Collect case studies and testimonials from your current clients. Use their experiences in your marketing, there is nothing more powerful than someone else singing your praises.
With the growing competition in the coaching industry it can be hard to imagine how you can succeed. However, with the right focus you can grow your coaching business steadily and make sure you stand out from the crowd.
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