7 Ways to Scale a Life Coaching Business
Have you ever wanted to grow a successful life coach business? After much study, experts have come up with 7 strategies that will help your business skyrocket and will help you maintain loyal customers. The amazing perk about being a life coach is that you don’t need to be officially certified or have a license. Whether it is a side hustle or your main source of income, being a life coach is guaranteed success.
How to Find More Life Coaching Clients
From data that’s been gathered, we have found that the life coaching industry has grown over 2.2% in the last 5 years. In those five years, we have seen an increase of about 1.8% in life coaching businesses being opened. You can read our full article about how to start a coaching business. You can read our full article for marketing for life coaches. With determination and hard work, you can be making from $10,000 to millions annually. It’s about knowing the right strategies and business models.
Here are a few ways on how to earn top money being a life coach.
Use content to reach new clients
You can put together gigs where you can speak about what you have to offer to people. This will create more exposure and you will meet potential coaching clients. From a recent study, we have learned that people tend to choose businesses that provide educational content. People want to learn from you. The first time may seem overwhelming but the more you do it the better you will get. Many even start off with offering to speak for free just so you can build the experience and so people can see that you know what you are talking about.
Christine Mins, who is a coach, used to speak for free. Christine shared tips for leveraging your audience, which were: “ Offer a free coaching session to the audience, ask people to sign up for your email list, Invite people to purchase an introductory coaching session.” With these three steps, you can grow your clientele and you can keep in close contact via emails and conversations.
Provide your audience with worthwhile information
A good way to not waste so much time and make a good amount of money is to create a membership site. That way you can coach multiple clients at the same time. You provide them with valuable content in exchange for their ongoing membership. So you both are getting something rewarding from doing a membership site. Once you get the hang of things you can offer different programs depending on what they feel best suits them.
Aja Edmonds has mastered this skill and is charging $2,999 for an annual membership fee for her “All Access” which includes an affiliate program, membership coaching, and 10 digital products. People love it! You too can do something like this that people will love. She even offers smaller packages in case you want to try it out to see if it’s a good fit first. She has a monthly program that ranges from free to $249 per month. You can do the same with your clients as well.
Nowadays everything is online, which is what leads many life coaches to ask how to start a life coaching business from home. So building a membership site is crucial to being successful in this industry. Research shows that 77% of companies believe that having an online company provides them with more exposure and credibility. And 66% of brand communities believe that being a part of the online communities is key to building relationships. And this is probably one of the most important things. You want to have a trusting relationship with your clients. Your clients want to feel like they trust you.
If all this that was just explained is a bit too much right now for you. Don’t fret! We have another suggestion. You can create ebooks. With ebooks, you can still be in the online world but not as hands-on about it. Ebooks can be created very easily and since you already have all this knowledge you can share with people, now it’s just all about putting it in the ebook so people can read it.
Valorie Burton is very successful with her ebook. She has made it so when you go to her website if you are in desperate need to solve some of your problems, you can just download the first 5 chapters. This is great for people that aren’t sure they want to commit to the purchase just yet.
But of course, ebooks aren’t the only way to get people to read what you have to offer. There are Audio files, Checklists, Guides, Journals, Assessments, Videos, Tutorials, Templates, etc. Eventually, you will figure out what works best for you. You just have to try them out and see what feels most comfortable for you. We’re even starting to see a rise in ebooks inside apps for life coaches!
Sell your educational products like an online course
By selling your information products online you have great earning potential. Coaches love them because they are convenient and easy to maintain and they are profitable.
Selena Soo has mastered this skill. She brought in $1.6 million in revenue last year. $1 million of that money was just from her online courses. Can you believe it?
The next big thing to learn is how to market your coaching business, Here a few things you can do:
Use content marketing
Posting regular content is a great way to market your coaching business. By creating impactful content you can gain more shares, followers, views. To do this you can add visuals, create unique content, and be original. To get more traffic coming in, you need to post regularly, it doesn’t matter how big or small your company is. If you don’t post enough, you won’t be getting the traffic you desire. More than 11 posts is ideal. But remember, make sure all your posts have valuable content people want to see and learn. You don’t want to post pointless things.
Blogs are a good marketing option but not the only one. Another good option is podcasts. We’ve actually written an entire article on the best podcasts for personal trainers and intend to do the same for life coaches. This is a great way to attract new audience members and maintain current members. Podcasts are very successful because the listeners are attentive. Podcasts are also great because with everyone’s buddy life, sometimes there is no time to sit and read something. Listening to it is way easier. I for one enjoy listening to podcasts when I’m driving, cooking or even at the gym. With just a little bit of planning, you can make podcasts. You can find script templates to follow online to help you begin.
There is also video content if blogs and podcasts aren’t your things. You can create youtube videos. Emma Mumford has a great Youtube channel you can check out. She posts every Tuesday and Friday evening. Your subscribers want regular content. So doing something similar to what Emma does, where she posts twice a week is a good way to reach Penelope and to get people to subscribe to your youtube channel.
Another big thing is interactive content. By creating interactive content people will visit your site more and they will notice your company more as well. 79% of content markets have agreed that creating interactive content brings in repeat visitors and you receive exposure.
Gift your clients free content
People love free stuff so by giving away free content, people will be interested. As we see in the service industry, when someone receives something for free they are 25%-30% more likely to become paying customers. By giving away free valuable products people will see your trustworthiness and they will see that you are experienced with what you are offering. You can offer gifts to people for converting into a subscriber. You can do this by sending them an email.
Joy Cho offers a free downloadable workbook. She does this by sending them an email. So in exchange for an email, her clients get access to her workbook. You can send multiple emails that can lead people to become paying customers. It’s like a sneak peek at what you have to offer and if you want more then you can subscribe to read and learn more valuable content.
The first step you can take to doing this is to set up a few different emails around your “freebie”. Email segmentation is the most successful way to personalize your marketing. By choosing the funnel concept it helps your overall sales.
Connect with your audience through social media
There are 3.4 billion active social media users. Instead of being present on all social media channels. Find the one that your audience visits more and publish your content there. Studies show that 54% of consumers would rather watch videos from brands. This is more than other content forms. So it is important that you post frequent videos on social media. You can even go Live on platforms like Instagram, Facebook, and Youtube. Videos have become so big that even toddlers are creating content. It’s your time to start making videos!
There are two very important editorial strategies you can test. The 80-20 rule, which is when “80% of your posts inform, entertain, or educate, and 20% are just promotional”. And the rule of the thirds, which is “one-third of your posts are promotional, one third share content from other industry leaders, and one third interacts with the audience.” It’s important to be engaging with your followers. If they send you a message or comment, you should reply quickly. They might be customers and no customer wants to support a business that has terrible customer service. 71% of consumers that have a good experience on a channel are likely to recommend your brand.
We are no longer living in a time where there is only one on one coaching or group calls. There are so many other easy-to-reach people and not fulfill people’s needs. It’s all about finding your niche and getting really good at what you do. How successful you are all depends on how much you have to offer to people and how well you promote your coaching business. Your success is in your hands. With these 7 strategies we just went over, you can really see your business boom.