In our latest series, Coaching as a Career, we’re giving you 7 Reasons Why You Need to Offer a Coaching Program. This articles reviews Reasons Two and Three, focusing on branding your business, and adding a high-end product to your sales funnel.
Keep following up for more reasons why coaching is a great career choice or a great addition to an existing online business!
Reason Two – Coaching Helps Brand Your Business
Branding is often perceived of as the simple act of creating a logo and an “image” for your company. However, branding is about much more than that. Your image isn’t just a visual experience. Branding is about creating a personality, too. For small online business owners, your personality is your brand.
Coaching, and the type of coaching service you provide, can feed right into strengthening your brand. Your personality and coaching policies and procedures will come through each coaching moment – thus strengthening your brand.
For example, if you’re known as a hard-hitting and controversial business owner, your coaching is going to follow a similar tone. Each person that experiences your coaching program will experience your brand. It’ll be strengthened in their minds.
Why Does Branding Matter?
In short, branding:
- Makes your business more recognizable – Imagine being instantly recognized online and off.
- Enhances word of mouth marketing – It motivates people to talk about you. You may find more opportunities coming your way.
- Increases front of mind awareness – Customers think of you first when they have a need.
- Makes your business more profitable – A strong brand helps you sell more products.
A strong brand is a strong business. Adding coaching to your business can help you strengthen and establish your brand.
Reason Three – Coaching Enables You to Add a High End Product to Your Sales Funnel. (More Profits)
When people buy a product or service from you, they enter your sales funnel. Often they enter at the lowest priced product or service available. Through marketing messages and communications, the goal is to move your customers up the sales funnel so they’re buying more expensive products.
When you add a coaching program to your sales funnel, it’s often your highest priced product or service, which makes it your highest end product. There are a number of reasons why coaching is such a beneficial addition to your sales funnel:
#1 The broader your sales funnel, the more sales you can make from each customer.
You will have some customers who will start at the very lowest priced product and then proceed to purchase every other product along the way. Adding a high-priced item like coaching helps you make more money from these wonderful and loyal customers.
#2 The broader your sales funnel, the more value you offer to your customer.
Adding a high-end product to your sales funnel ultimately offers more value to your customers. They’re able to gain the maximum amount of benefit from your business.
#3 The broader or more diverse your sales funnel, the more entrance points your customer has to choose from.
Not everyone will choose to buy your least expensive product. Some people will jump in and buy a mid-level product first. Others will buy your highest priced product. When you offer a variety of price points and products/services, you provide more options for your customers.
It should be noted that a coaching program doesn’t have to be an expensive product or service, and you can offer various levels of coaching. For example, group coaching versus one-on–one coaching. The group coaching option could be less expensive than the one-on-one coaching option, and may appeal to your customers more than one-on-one coaching, simply because of the networking value, as well as being able to get feedback from other members of the group, in addition to just one coach.
In a nutshell, coaching enables you to expand your sales funnel and to add more choices and value for your prospects and customers.
Additionally, as we’ll discuss in Reason Number Five, you can add information products to your coaching program. This adds a lot more profit potential to your business.
Keep adding to your own list of reasons for becoming a coach or adding coaching to your existing website or blog. Add your comments below on your own experience of adding coaching to an existing business and especially if you’ve tried both group and individual coaching programs. If you are new to the idea of adding a coaching program to your site, let us know what is stopping you–what are your questions, fears, concerns that are preventing you from moving forward!