Coaching businesses can be made or broken based on their approach to marketing.
Whether or whether you have a successful coaching business is mostly determined by one method.
If you know the answer to this question, it will have a profound impact on the direction of your coaching practise. It has the power to alter your company’s image. Your business’s focus may be shifted as a result. It can have a significant impact on the way you run your firm. Most significantly, it has the power to make or break your company.
When we asked this question to a number of coaches, we received a wide range of answers. However, only 4% of them even came close! The most common responses came from coaches who were asked about the following topics: quality of service, quantity of clients, pricing, branding, and copywriting.
These difficulties are vital, but your marketing strategy is by far the most crucial. While all the other parts are necessary, the success or failure of your organisation is ultimately determined by your marketing strategy.
Let’s get to the bottom of this…
Almost all coaches use a sales-based marketing philosophy in their marketing campaigns. Due to the fact that most traditional marketing strategies teach sales-based marketing methods, this is understandable Everywhere we look, whether it’s on TV, in the newspaper, in a magazine, on billboards, or on the radio, we’re exposed to sales-based marketing. Coaches are more likely to learn about traditional sales-based marketing strategies such as print ads (in newspapers, yellow pages journals and magazines), direct phone calls and radio commercials as they explore marketing methods.
Coaches that use a sales-based marketing strategy face a number of significant adversaries…
A’sales pitch’ is a nerve-wracking experience for most coaches. Technical expertise is more common among coaches than marketing expertise. Consequently, they are apprehensive when it comes to bragging about themselves and their product’s quality. As a result, they don’t close, and their lack of trust in their product and service appears to potential customers.
Your service’s net profit margin will be reduced as a result of sales marketing. The more money you invest in acquiring a new customer, the less money you’ll keep at the end.
As a general rule, people are extremely wary of sales pitches. Making a sale becomes increasingly difficult as a result of this. As a result of their natural inclination to put up a defence against sales-based marketing, most potential customers will already be turned away from learning about your services when you use this type of marketing.
A sales-driven marketing strategy does not foster relationships based on mutual respect and trust. Prospects will only buy from you if they can put their faith in you. If your prospect doesn’t have faith in you, they won’t invest in your product or service. With a sales-based marketing strategy, it is incredibly difficult to achieve this degree of trust
You don’t impose any obligations on the potential customer to study your offer or make a purchase from you in return. As a human being, it’s natural to want to return the favour. Sales-based marketing does not build reciprocal duty.
You’ll get a lot of “tyre kickers” and price-sensitive customers who waste a lot of your time and lead to a very low conversion rate.
In order to build a rapport and trust with a potential customer, you need to keep in touch with them for at least four to six contacts.
If sales-based marketing isn’t going to work, what’s my alternative for attracting new customers?
Why? Because educational marketing is the answer. You might think of it as an education-based marketing strategy, which means providing potential customers what they want (useful knowledge and guidance that solves their problems) while avoiding offering them what they don’t want (a sales pitch).
A variety of Credibility Marketing tactics are used to offer education-based marketing messages. These include public speaking and educational teleclasses as well as publications, networking and hotlines.
Education-based marketing is different from sales-based marketing in that…
When you give your prospect what they genuinely want – excellent information – they are more likely to trust you. In addition, you eliminate what they don’t desire – an advertisement.
As a result, you are able to keep your dignity and self-esteem because you never put yourself out there to sale.