The number of coaches who offer their services online has grown steadily during the last few years. When Covid-19 hit the world, this trend accelerated like never before. Online coaching is here to stay, no question about that.
We have in a previous article gone through the basics on how to coach online, and in this article we try to take it one step further. For a coaching company looking to make a living on coaching clients online, the growing amount of competitors makes it harder, but more important to stick out from the masses.
First of all, you need to have the basics covered. Like we wrote in the how to coach online article, you need a business plan and a client path. You need a place to sell your services and an online platform where you actually offer the coaching. It would help if you also had visibility, and in the long run, make more money than you spend.
Let’s assume that you have the previously mentioned pieces somehow covered, or at least a plan for them.
Define your unique selling point, USP.
Try to describe your target customers, and pin-point their most common problems. Then write down how you solve these challenges. Highlight the benefits of your service that can assists your customers to reach their goals.
Also, make sure to get to know your main competitors. It can be a good idea to do a basic analysis by writing down the things your competitors do well, but don’t spend too much time on this. The focus should always be on you and your development.
One of your unique selling points could be a competitive price. The price will always be a factor when buying pretty much anything. But that doesn’t automatically mean you should discount your prices. The pricing model and terms are just as important as the price itself.
Consider what kind of solution would fit your customers best. Is it a single purchase? Or is it subscription-based? What exactly do they get for the money? Should you have low price strategy and earn additional income from other sources, like co-operations? Or should you charge a high price to differentiate yourself through signifying quality and exclusivity?
However, it’s the value for money that defines your price strategy. And that’s what you should focus on the most, the coaching service itself.
In a narrow market, it might feel that what you are doing is the same as 10 other coaches. But remember, one single thing can make all the difference. It doesn’t need to be something magical and ground breaking, and sometimes the most simple thing is what makes you and your company successful.
When you’re happy with your USP, make it your number one communication and marketing message, and spread it to your potential customers. Remember, you can’t buy something you don’t know exists.
It might sound that it’s all about marketing. And in one sense yes, it is. But let us all remember that the most powerful marketing is word of mouth. Focus on really making your customers satisfied, and they will, without a doubt, share the word. Plus, they will probably stay as a customer for a long time to come, which is essential for making a living as an online coach. Make sure to check out our article on this subject, 10 ideas on how to retain your clients.
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