Coaching: Maximize Profits and Customer Loyalty Fast
What is coaching? Why would you consider coaching? How do you know if coaching will work for your niche? These are critical questions to ask if you want to increase profits in your business and increase the amount of money you make per customer.
How do You Know if Coaching Will Work?
Before I tell you why you should consider adding a coaching program, I want you to understand that you can add coaching to your niche. Most niches have room for the additional profits coaching can bring.
If you’re in any niche online, or even if you’re selling offline information products – anything that sells information, books, CD’s, MP3’s, videos, etc. – generally speaking, if the topic sells well in one medium, it will sell well in all the mediums. If you’re selling information, it will sell in all formats.
For example, if a video in your niche sells really well, there’s probably a whole lot of people in your niche that would love to read a book. So, if there’s a video that sells really well, but nobody has ever written a book on the topic, you write a book on the topic, it ought to sell really well.
If there are audios out there, like podcasts, mp3’s, and radio shows on a particular topic, videos would probably do really well, and so would books.
Anything that a book does really well in, an audio usually does well, and video usually does well.
And for ANY of these mediums, if people are buying information on a video, if they’re buying information on an audio, or they’re buying information on a book, coaching will usually do well.
Here’s the thing, some people like to read their information. So, they read a book.
Some people like to listen while they’re driving to work, so they buy an audio.
Other people like to be totally consumed with the information, and watch it on TV. So they buy a DVD and hook it up to their TV.
Some people want to do all three.
Some people want to have bedside reading. They want to listen on their way to work. And they want to watch TV when they get home. So some people will buy in all 3 mediums.
But, in almost all cases, if people are willing to read the information, or they’re willing to listen, or they’re willing to watch, there is usually a percentage of people who need more help than they can get by reading, listening, or watching. Those individuals are coaching candidates.
What is Coaching?
Let’s break out what coaching actually is:
It’s helping people to get results.
If the book was complete, the audios are complete, and the videos are complete, why aren’t people getting results without coaching?
It’s because there’s a gap between the information and the implementation. It’s very difficult for many people to read something and then go do it. It’s in a different medium. It’s hard for many people to listen to something, and then go do it because it’s a different medium. It’s difficult for some people to watch something and then go do it, because it’s a different medium.
Think about it, the mental state that you get into if you watch a video is an observation state. You’re an observer. If you watch a reality TV show, you are an observer. You’re not out there starving to death on a fake island. You are an observer. There’s a huge gap between sitting on your couch and going out there and starving to death. There’s a huge gap.
You say, well, “That’s an extreme example”. The truth of the matter is, it’s the same way online. If you watch something, you are a watcher, you are a viewer. And to take a viewer or a watcher, and get them to get up and go play football is not easy to do.
It’s exactly the same thing in any information niche.
So again, what is coaching?
Coaching is implementation.
Coaching is, take you by the hand, give you step by step, give you accountability, are you doing the work? Maybe giving you some “tough love” from time to time. It’s say “Look, you paid for the coaching, you show up every week, but you’re not doing the work, what gives?”
Coaching has a level of interaction and it leads folks from just learning the information to actually implementing or using that information. You can call it coaching, mentoring, teaching with access to the instructor, whatever – it’s coaching, and it will fit into your niche.
Why Consider Coaching?
I hope your mind is already racing with ideas on this, but I want to give you even more motivation.
Coaching programs can really boost your business income. Making sales here and there from ebooks and videos is nice. You might even make a little more by selling a complete “course” online.
But what really skyrockets the value of your product is giving personal access to you. Giving that access and giving your student or client accountability gives them a much greater chance to succeed – and that’s worth a lot more money in the long run.
Adding a coaching component to your existing product line doesn’t have to be hard. It can be as simple as a weekly teleconference call and a weekly homework assignment that follows along with your class, or along with chapters from your book.
However you do it, it gives you the chance to charge extra for the special access – plus it gives your clients much more powerful results long run. It’s a win for your business and a win for your client, which results in repeat sales and strong customer loyalty.