Developing products should be at the forefront of every coach's mind. Coaches that develop products are significantly more successful than coaches that don't. A product is a packaged and branded educational resource. Your product should be targeted to a niche group, and be focussed on solving their specific problems. Your product can be packaged and delivered in a variety of ways.Popular coaching-related products include: eBooks, eCourses, Mini-Courses, Podcasts, Workshops, Seminars, Tele-Clinics, Audio Programs, Webinars, etc.
Benefits Coaches who develop educational products are well aware of the schedule of added benefits behind the package. Following are some examples,Increased Credibility. Delivering high quality, branded products to your niche is one of the most powerful means to build your credibility. There is virtually no other way to accelerate your perception as an expert in your niche.Improve your networks, Authorities in your niche are usually very willing to assist and participate in the development of products that assist their industry. Networking with these authorities will give you an immediate, highly leveraged entry into your niche. It will open many doors to Joint Ventures; list sharing! ; public forums; group meetings; etc.
If it has been more than two months and you're still not successful in getting some of your prospects to sign up, I suggest that you offer them with free sessions via Skype. Perhaps, they want more solid proof that you're the best coach to address their needs and demands. If your coaching program is all about making money online, you can offer free sessions as to how your prospects can create their very own website. Give all the information they need for free. Your goal here is to convince them that you have enough knowledge to share to help them realize their goals in as little time as possible.
Get them to buy your low-end products. Even if you were able to convince your prospects that you're really good, it's still not easy to get them to spend $15,000 on their first purchase. This is the reason why I recommend that you sell them your low-end products first. Ensure that your low-end products (ebooks, audio products, newsletters, etc.) are very informative and useful. If these people are satisfied with their first purchase, you will find it much easier to move them further down to your funnel until such time that they'll consider buying your high end or most expensive products which could be your high ticket coaching programs.
Applications.Once you have products, how can you put them to use for maximum affect? We'll now investigate some ways you can use your products to increase enquiries; conversions and sales.Building your list. In a previous edition of Coaching Inspirations, we discussed the sales funnel, and how important it is to get as many qualified prospects in the top of your funnel as possible. Using your products is a highly leveraged means to do this. Here are a few examples,Offer a free eBook as an incentive to join an online club; eZine; newsletter.Let people download a "Special Report" after subscribing to your list.Mention your list (education-based) on your tele-clinic call.Gather business cards or contacts at your seminar.
Loss Leader. You know by now the net marginal worth of your clients, and hence how much you can afford to invest at the front-end on acquiring a client. A strategy to attain client contracts is to use a 'loss leader'. This means you make a financial loss at the front-end, knowing you'll make gains over the term of the! life of your client. For instance, you may give away free vouchers to a group coaching workshop to members of your niche. This may cost you $100 per attendee. However, you get 90% of attendees into the top of your funnel; 30% of the them to level 2 within 3-months; 20% to level 3 within 6-months. The net result may be a $1,750 gain over 6-12 months per attendee.
Although it may take a while before you can really sell your programs, you can be assured that this is the best way to realize your goals. Once you've convinced a lot of people to take advantage of your programs and once you've created a huge name in your chosen niche, that's the time that you can offer your programs to your potential clients right away (no need to offer them low-end products first). This is because these people now have the reason to trust you.
Benefits Coaches who develop educational products are well aware of the schedule of added benefits behind the package. Following are some examples,Increased Credibility. Delivering high quality, branded products to your niche is one of the most powerful means to build your credibility. There is virtually no other way to accelerate your perception as an expert in your niche.Improve your networks, Authorities in your niche are usually very willing to assist and participate in the development of products that assist their industry. Networking with these authorities will give you an immediate, highly leveraged entry into your niche. It will open many doors to Joint Ventures; list sharing! ; public forums; group meetings; etc.
If it has been more than two months and you're still not successful in getting some of your prospects to sign up, I suggest that you offer them with free sessions via Skype. Perhaps, they want more solid proof that you're the best coach to address their needs and demands. If your coaching program is all about making money online, you can offer free sessions as to how your prospects can create their very own website. Give all the information they need for free. Your goal here is to convince them that you have enough knowledge to share to help them realize their goals in as little time as possible.
Get them to buy your low-end products. Even if you were able to convince your prospects that you're really good, it's still not easy to get them to spend $15,000 on their first purchase. This is the reason why I recommend that you sell them your low-end products first. Ensure that your low-end products (ebooks, audio products, newsletters, etc.) are very informative and useful. If these people are satisfied with their first purchase, you will find it much easier to move them further down to your funnel until such time that they'll consider buying your high end or most expensive products which could be your high ticket coaching programs.
Applications.Once you have products, how can you put them to use for maximum affect? We'll now investigate some ways you can use your products to increase enquiries; conversions and sales.Building your list. In a previous edition of Coaching Inspirations, we discussed the sales funnel, and how important it is to get as many qualified prospects in the top of your funnel as possible. Using your products is a highly leveraged means to do this. Here are a few examples,Offer a free eBook as an incentive to join an online club; eZine; newsletter.Let people download a "Special Report" after subscribing to your list.Mention your list (education-based) on your tele-clinic call.Gather business cards or contacts at your seminar.
Loss Leader. You know by now the net marginal worth of your clients, and hence how much you can afford to invest at the front-end on acquiring a client. A strategy to attain client contracts is to use a 'loss leader'. This means you make a financial loss at the front-end, knowing you'll make gains over the term of the! life of your client. For instance, you may give away free vouchers to a group coaching workshop to members of your niche. This may cost you $100 per attendee. However, you get 90% of attendees into the top of your funnel; 30% of the them to level 2 within 3-months; 20% to level 3 within 6-months. The net result may be a $1,750 gain over 6-12 months per attendee.
Although it may take a while before you can really sell your programs, you can be assured that this is the best way to realize your goals. Once you've convinced a lot of people to take advantage of your programs and once you've created a huge name in your chosen niche, that's the time that you can offer your programs to your potential clients right away (no need to offer them low-end products first). This is because these people now have the reason to trust you.
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