Coach, Why You Don’t Get Dozens of Calls a Month from Prospective Coaching Clients
Marketing your coaching business can be as simple as “following a simple formula” In other words, you should be able to design your business so that it delivers however many clients . . . AND DOLLARS . . . that you want.
Has it worked that way for you so far? If not, read on.
Marketing your coaching business, or “acquiring clients” can be done according to a simple marketing formula.
Conversion rate of your
(what you say and how you say it)
Most coaches do what I call “Hope and Pray” marketing. They do something to get new clients . . . only when they are desparate for new clients, and hope and pray that someone will call them back. Their marketing is a step child to their coaching. There’s another term for that, “the myth of the field of dream . . . build it and they will come.” It doesn’t matter how you of a coach you are if no new clients are STREAMING in the door. But if they are STREAMING in the door from your marketing activity then you’ll become a GREAT coach because you are building experience.
Back to the marketing formula.
How Good Does YOUR Marketing Message Work?
Do you know what the conversion rate is for your marketing message. In other words what you say and how you say it will either
- COMPEL people to want you where they’ll line up BEGGING for your rare times slots
- create a few tire kickers that check you out
- leaves them wondering what you said or why they should continue reading or listening
- or turns them off totally.
Pick one! Which of these describes the results of your current marketing message?
Do you have one that you use over and over that you KNOW that every time you put it in print, say it at a networking event, give a speech, that you will KNOW what percentage of those that hear it will respond with WOW, I NEED to talk with you.
Actively Managing Your Business, Your Client Acquisition With the Marketing Formula
You are in control IF you use the marketing formula to manage your business. That means that you’ll measure the measurable response you get from your marketing message, AND you’ll tweak and optimize it frequently watching the response rate go up and up and up as you get more and more clients every time you do this process.
AND you are inc ontrol IF you calculate how many people MUST be exposed to this marketing message each and every week to get the number of new clients you need out of the marketing formula, to get the number of dollars you WANT this year.
Design the Income You Want Into Your Coaching Business
With that approach you can DESIGN your business to constantly deliver the number of dollars you want each and every week, month, and year of your business.
And you’ve been setting their waiting for the clients to come in . . . RIGHT? Hoping and praying that something would change. That’s Hope and Pray marketing.
I was working with George, a business coach, last month who said that he hadn’t gotten ANYTHING from his marketing in over 10 months. But he had consistently kept his nose to that grindstone going to several networking events a week, doing a free speaking engagement sporadically . . . as he said . . when he could find one . . . one or two a year. And out of all of that he had gotten one new client in the last 10 months.
He was ready to throw in the towel.
I showed him that there were around 300 people in his city looking for a coach, and over 40,000 nationwide. I asked him why he thought he wasn’t getting some little portion of those people who are actually actively looking for a coach, let alone a small part of the 50,000+ others in that city who are in his target market and hadn’t decided to look for help from a coach yet. He had no clue.
I asked him to tell me what he says to people he meets. He said, “I tell them I am a coach.”
The Marketing Message . . . “I Am a Coach” Doesn’t Work
George was ASSUMING that people know what a coach does and that would literally COMPEL them to want to talk with him. He’s wrong on both parts.
We worked on his marketing message, changing it to one that was about what his clients would beg him to help them with, and not about coaching. At his next free speaking event he got 25% of the room asking him for more information after the meeting. So, we had made some serious changes to his marketing response rate by getting the marketing message right.
But, then came the next shock for George. We took the marketing formula and applied it. George had already gotten a 25% response rate to his live marketing message, but I suggested that we shoot for 5% in a less personal approach, apply that to the marketing formula. He wanted one new client a month at $1K per month to hit his $100K yearly income goal. Applying that to the marketing formula, and also assuming that he’d have to talk to 2 people to get 1, the marketing formula gave him this answer.
2 leads/5% conversion rate = 40 people need to see or hear his marketing message in the next month to get 2 interested people, and one of them becoming a client.
When I suggested one approach to getting that marketing message out there was a pay per click campaign that would bring the 40 to his website, and use his website to present the marketing message, he was quite hesitant. He was AFRAID to spend money on his marketing. “What if it didn’t work?”, “What if it did work and he got hundreds of people? It would be COSTLY.”
First, I told George, that the cost of marketing should never be measured or managed by the up front cost, what you spend on the marketing material. It should always be managed by “what it costs to acquire a client” or, even better, “what it costs to acquire a client’s dollar.” So, if we paid $1 for a pay per click ad, and 5% of them responded, then his cost per lead was $20, and if he sold one out of two then his cost to acquire a client is . . . drum roll please . . . only $40. And that client was worth $1,000 a month.
His ROI would be $1,000/$40 = 25:1. It would generate $25 for every dollar spent. That’s not something you readily get in any other investment anywhere.
We turned on a pay per click campaign, and he’s had about 3 calls a week since.
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