I see every day a new coach in the business. It is obvious to have questions like:
Why should a client choose you?
What different can you do to promote your coaching products?
Someone even asked how to develop the coaching products which people may buy?
I have seen coaches who find it difficult to market the products effectively. Where they go wrong? They try to create a product which is a low ticket. Many world coaches like Brian Tracy has done this.
I suggest that one must not opt for it while beginning as a new coach. I, therefore, suggest aspiring coaches to keep the price high. This way you can make more money although selling less.
Before you create and sell your coaching products check out 30 coaching trends that you must know to be successful.
But before going in more detail, I would like to share some basic questions.
What is a coaching product?
Are you looking to transfer your business from service to product base?
If yes, coaching products is the best option.
Thus, coaching products in simple terms is a combination of coaching services in one course. This way you can earn more as it becomes your additional income. Also, you get an opportunity to help more people.
To make it understand well, let us look at the example:
Sometime back I planned to launch an online course. Everyone gave advice. It was tempting to hear about their growth.
But as a coach, I was confused if my one on one session can turn into a coaching product. It was like suggesting a doctor to create a course where all your health problems are solved.
I worked upon it. With time I felt to get incredible results, something different is required. Hence, I decided to create coaching programs. These were a small group of people on whom I tried the product. The product turned valuable.
My skills became a course that had all kinds of services. I could earn $15k through it.
Coaching products are a tool to build trust among people before selling private coaching.
This leads to the next question.
What are the different types of coaching products?
With experience, you may find various coaching products. I used a few which are easily accessible to my clients.
Freebie coaching products
These are the tools used to build the trust of your audience. It comes at the initial stage of your coaching business. When I started my coaching business, I wanted people to know me first. Hence, products like free weekly tips, free eBook and free whitepaper helped in reaching more people.
I suggest you do not worry if your product is free. This is because it creates the first connection with people interested in your coaching. You have a chance to showcase your expertise. Do not miss it.
Introductory product kit
Let us say, your client liked the free eCourse which you shared in the email. Now next comes the subscription video which can teach the client more about the subject. For example, you had a free eCourse video about how to stay fit.
Now you can sell a video with a price ranging between $50 to $100. The video will go in more depth like sharing about how mothers can avoid stress to stay fit. Thus, you can share the whole series of your coaching.
Various kinds of tools come under this coaching product such as:
-Self-study program which includes a series of programs in the form of audio or video
-Kick start kit which describes the problem in your niche in a deeper way
Group Coaching products
I used this product when there were more participants. The price of the product is charged less if the group is large. It is done with a group of people at the same time. The participants have the option to interact.
In comparison to the above-mentioned programs, this one is more personalized. There are meetings with a group of people who want similar outcomes in a specific niche. People can access you directly through facebook forums or Question Answer calls. You can charge $250 to $500 for such products.
One on one coaching products or private coaching programs
Once you have achieved a huge number of clients, you can design private coaching products. For this, I have seen many executives paying more than $1000. I didn’t take too many clients for such products. This requires more time but increases your income.
Once you are through with several group programs, you can have membership coaching products. I suggest you keep it as a high-level coaching product. Once you have developed enough content, these monthly membership programs prove beneficial.
In case you are looking for more details then do check out how to run one-on-one coaching sessions.
How to create your coaching products?
Do you often come across the below questions?
How to create a product for my niche as I am not an expert?
Is my coaching product perfect to share in the market?
My friend, you are already an expert. Now all you have to do is package the skills and talents in one basket. This basket is your product which you need to sell.
But how to create the coaching products? Do you need to include all the coaching ideas?
Here I would like to share that many successful coaches have taken years to build various coaching products. What did they do?
1. Test it beforehand
I have met coaches who first came up with the idea. Next, they worked on creating it. But do you think without testing it, you will know the results? Of course not.
You need to test the product in the market and get a review of it. What best you can do here? Make the product reach to your ideal prospective clients.
What will you get? Feedback of all kinds. This can help you in updating the coaching product. You can improve it and even modify the price. If I would have kept ideas in mind, the success would have become difficult.
When I tested my coaching product, I asked people to email when they get stuck. Why? I wanted to give them full support. For example, many clients told me they found the storytelling module a bit tough. Hence, I shared a video clip which dealt with a storytelling concept in depth.
Hence, to create a product apply a simple formula- test, get a review and improve.
2. Check with the market
Many people launch the product with full confidence. But at times they do not get the desired result. Where do they fail? Look at your competitors and learn from their successes and failures.
How you can create a coaching product different from theirs? You need to reuse the content. For example, you can use social media updates to write a blog.
3. Develop a successful strategy in sync with the coaching product
Who is your ideal client? What is that one compelling problem which you need to solve?
I have always told coaches to build credibility through their expertise. Once you know how to do that, you can create a unique coaching product. Give it a name like labeling the series as Level 1. People get attracted to names and thus, you need to have empowering titles for your product.
4. Determine the price
How cost-effective is your coaching product? Select a price that is low enough to get clients but high enough that they seriously get involved in the product. Determine the price based on questions like:
How much cost is involved in creating and selling the product?
How much value the client will get out of the coaching product?
5. Don’t stop creating new coaching products
I have seen people sharing about the upcoming products. Hence, you may have immense ideas. Do not stop yourself from creating new products. This is because there are many people out there who may want to learn more.
How you can turn your coaching service into a program or a course? Follow simple steps to turn the services into effective coaching products.
6. Launch the coaching product
Once you have feedback about the product from beta testers, it is time to launch the product for all. During this point, I prefer sharing testimonials. Why? It works in your favor.
In my case, I gave reassurance to people that my product has worked for various people. My clients identified it and their concerns were answered automatically.
How to sell coaching products?
Selling a coaching product is not that tough. I know you may find it difficult to believe.
But yes, it is true.
Here are the 4 things you must do to sell out your premium coaching products.
Step #1: Level up your products
First, you need to look at your brand. For example, do you feel your website looks as if it was created 10 years back? Does your eBook have some missing points?
Clients would expect exceptional features once they visit your website. These are the ones who are eager to buy high-end coaching products.
I suggested a coach to give a professional look to her website. Whether it is a Facebook business page or an email message, she should keep it updated. But how you can upgrade?
First, you need to identify all the elements of the product. For example, if you are posting a blog, check the images. While sharing a video series, properly place the logo.
Ask yourself, Will I buy a coaching product from this coach?
If you get the answer no, work upon the product.
Those willing to buy your coaching products would consider value over price. Hence, from the beginning, create the products which are personalized and can give abundant value.
Don’t be scared to give free products. You can add a bonus or gifts too. Many coaches provide limitless emails or one to one sessions along with the product.
Why this will prove beneficial?
The value of your overall product gets a boost.
And here comes one more reason for the same.
You will feel affirmative about charging a high price for your product in the future.
I was confident that my clients are getting a transformational experience. Thus, my hesitation was vanishing when I decided to charge a high price. It didn’t matter to me so much.
This is the crucial point that you need to take care of while selling coaching products.
Step #3: Avoid false selling
I saw many clients were offered high-end products. But they were frustrated with over the top promises.
How to deal with it?
In my coaching business, I think differently. How? I sell authentically. Everything I sell is keeping in mind the integrity.
For this, all you need to do is keep the marketing message simple and clear. Do not exaggerate. I let my clients ask the questions. Also, I answer every single question. My answers are honest and clear.
What if you are trying to sell the product but people do not trust you?
Thus, here the communication helps. You can develop deep trust and approach the right clients. People are happy to buy your premium coaching products too.
Step #4: Step into the shoes of a client
It is a simple philosophy to be in the client’s shoes. What does it mean? You need to treat yourself as a high-end client.
Your goal is to find what clients like and how much they want to pay for the coaching product.
This would help you feel confident in selling your products.
To earn your reputation as a coach you should try going premium. It allows you to work closely with a limited number of clients. This also leads to a long term relationship with clients.
When I did this, I could give full attention to every client.
Today people are more inclined towards visual products. They look for products on social media. So how can you sell your world-class coaching products on this platform? You need to customize every content for the respective channel.
Here also comes the question as to which platform is right to sell your product?
Thanks to eCommerce, you have numerous options available. I had a tough fight deciding upon one. But I had to choose as that is where you can sell the product. So how to select?
You should look for key features like:
Is the channel providing a friendly user interface?
What all the helpful features do the channel has?
Is there the provision of security?
Step#6: Try different strategies
I understand you may feel your product is good. But you need to create a buzz about it to drive sales.
I used to try different things.
Few ideas which I have applied are:
-Generate excitement through the pre-launch contest. For example, the first 10 clients who buy the coaching product will enter into a draw where they win a free consultation. To engage more people, you can share the event on facebook or even launch email campaigns.
-Offer sample coaching products. Try to send teasers to the people who you feel care about your product. If possible, give them free samples. Also, you can design a pre-launch signup page wherein people are updated about the product.
-Post-launch discussions. I initiated a question-answer session wherein the audience was given the chance to discuss various coaching products that I offered. This led to increasing acceptance of the product.
Check out 14 coaching product ideas to find out more ideas to sell your coaching products.
Do you need certification to sell coaching products?
If you are thinking about selling your coaching products, you may wonder if certification is necessary.
Many may advise it is not so essential. But that is a wrong suggestion. I will tell you why.
Without it, you may lose potential clients
Client trust your brand. Selling the products becomes easier if you have certification. Let us say after ending your free webinar you add your certifications. It will help in earning more acceptability for your product.
Easy to distinguish yourself from non-coaches
Do you feel clients at times get misleading products? If yes, this is where certification is essential. Due to it, people feel you are selling genuine products. I have seen coaches who are not trained and selling products that may harm clients.
Clients look for certification
People feel that certified professionals sell authentic coaching products rather than uncertified ones. It does not mean uncertified sell fake ones. But people do not know who they are. Thus, in such a scenario client trust the products sold by certified coaches.
Good for legal purpose
When any regulation comes, certification helps you to sell coaching products authentically. You may not have to face any legal issues.
I suggest you go for certification especially if starting new. The certificate comes with training and it helps you in effectively selling coaching products.
How much can you earn by selling your coaching products?
This is the question which many coaches are eager to know. Creating a coaching product is fruitful if you earn well out of it.
One can earn $100k per year by selling group coaching products. It is scalable compared to one on one coaching programs. For example, with such products, you can charge $20 per hour. This way you have a chance to make the same amount of money with only 5 clients.
What if you get 20 or 30 group coaching clients? It means you can earn $100k in less time.
Successful coaches have similarly sold their coaching products and now living a luxurious life.
Stand-alone coaching products help you earn $1000 or more monthly. But this is possible when your products have been in the market for long. I found this possible as in this case you are engaging with fewer clients but keeping your price high.
You can generate $20,000 by selling coaching products through the website also.
Let us go in more detail. Firstly, you need to check how many website visitors are required for getting $20,000 every month. Say for example your coaching product is $200. In such a case, 10,000 visitors are a must. This means 100 customers are buying your product.
If you sell your product at $10,000, there should be 200 visitors. But the best part is you only need 2 customers to buy your product.
The first option is tricky but targeting 200 visitors is feasible.
I met a coach who used this strategy. It helped him convert the visitors to buy the coaching products. He was only selling high ticket products. This way he had fewer support queries and low expenditure.
Thus, with testimonials and certifications, your product gains credibility. If you present trust signals well on your website you can earn $100k from each client.
To conclude, your earning through selling coaching products depends upon how well you have placed the products. The low end of the starters may earn $28,000 a year. The mid-range group has the opportunity to earn $52,500. The highly successful coaches earn $275,000 a year as they sell coaching products to limited people.
Also, if the product gives your clients incredible results, your bank account is soon going to get filled up.
Are you ready to select your coaching product?
Yes, you are…of course, you are. So why are you waiting?
This is my webinar:
Because of the demand of the webinar, the seats will be filling up very fast, so please make sure that you register as early as possible. I don’t want you to miss out on it because you were lazy.
I will see you on the other side :).