Group Coaching Can Increase Your Hourly Rate And Start Winning New Clients Quickly With These 3 Tips
A one-on-one coaching business flush with high-end clients that are spending hundreds for your time may be the goal of any coaching service. However, focusing on that may mean you’re leaving money on the table.
Many people who are willing to pay for coaching prefer a group program. Group programs allow clients to get to know others through real life examples, hits and misses. It veers away from the singular focus on one client and his or her business, life or health and allows for a more diverse, interactive experience. Most people learn best from the successes and failures of others. Group coaching can provide that in volume while affording you considerable profit per hour.
Most group coaching programs provide a private members-only Facebook Group or a membership-based online forum (on your website). This lets your clients/members interact, know and support each other while learning together. It’s the social dynamic that one-on-one is frequently missing.
And the best part is that this business model works for any coaching related niche. Any niche at all whether entrepreneurial, life, health, and wellness, crafting and the list goes on.
Keeping It Simple
You simply charge a monthly fee that includes lectures, webinars or Zoom meetings where you teach and guide. Of course, you also include access and membership to the private page and forum. The value add here is simple – your clients or members are paying to gain access to each other.
Members support each other by posting specific questions and providing helpful feedback. And all the while you’re working with those high-paying one-on-one clients. You respond to a few questions in the Facebook private group occasionally, and you may ask others to provide feedback as well. You’re being paid for your knowledge and expertise in small chunks that don’t take up a lot of your time. In return, you’re giving them a ready-made social network of like-minded individuals empowered to support each other.
Friendships get made while you get paid.
Consider the Financials
Let’s look at the earning potential here. You charge a high-end client $1,200 a month for one-on-one coaching that includes an hour-long call and two monthly check-in and analysis emails. And you also provide resources lists, direction, individual analysis, etc.
When the math is calculated, your hourly rate with that one high-end client is $200 an hour. Certainly not shabby, but imagine if you opened yourself up to group coaching.
Let’s say you charge $97 a month for group coaching, and you include the following:
- Access to your recorded hour-long private coaching call every week.
- A few resource lists and digital planners with no time-consuming customizations.
- Access to your private Facebook Group or forum.
Look at it this way, just 30 clients at $97 a month is $2,910. Let’s say you spend an average of eight hours of your time each month on this.
- 4 hours a month on weekly recorded coaching calls.
- 4 hours total a month responding to forum posts.
That’s $363 an hour, considerably higher than those valuable affluent one-on-one coaching clients.
One year with only 30 group coaching clients is an extra $34,920. But that’s not the only benefit.
But Wait… There’s More!
Beyond the money, you’re building a fan base that is already empowered by your services and expertise. You have guaranteed buyers that are already paying you. Take a moment and consider the possibilities you’ll have with this built-in list of fans:
- You can market discounted last minute one-on-one coaching sessions.
- Sell VIP packages to make up for last minute cancellations or client withdrawals.
- Put together a quick but high-converting content package to give your fans a boost.
The opportunity to grow your business is nearly endless, and most coaches can easily secure 30 clients.
Consider the opportunity for profit and brand expansion if you focus some digital marketing on your group coaching service and have over 100 members, bringing in nearly $10,000 a month. 100 members or 30 members will make no difference to you. You’ll spend the same amount of time each month.
Convincing a high-end client to sign a contract and part with $1,200 a month is difficult, but selling a discounted group program in volume tends to be far easier.
The Top 3 Marketing Strategies for Your Group Coaching Business
You have a beautiful, informative, responsive, and fast website (hopefully with ServerWise). You have great sales copy that converts to leads and eventually buyers. And you have more than one product at different pricing points, so you have a little something for everyone to keep your brand growing.
Starting a group coaching business is no different if you already have the foundation – the right brand and the determination to market yourself and your brand effectively.
Master Your Coaching Brand
The brand is the most critical, important, and often difficult component of any marketing plan. It’s more than colors and a focus-grouped logo. The brand is more than font choices and personality and the voice of your ad copy and content. In fact, it’s all of those things and more.
Branding is everything. It’s who you are and who your preferred clients are. Branding exists in the way you write and speak and carry yourself. It’s your profile photo, and it’s also the consistency of your profile photo.
Branding is your content, graphics and personal style, and it must always be fundamentally the same everywhere. Whether your own website, social media accounts or syndicated articles, the brand must be represented the same. Consistency creates trust.
Create and Host Free Coaching & Membership Webinars
The fastest way to win paying clients or members is with a no-frills free webinar. No bells. No whistles. Nothing fancy here, just strong actionable information to show off your expertise and prove how valuable your coaching services will be.
Your free webinar doesn’t have to be long, but it does have to be valuable, and it must be full of your personality. In coaching, you, as the coach, is the brand (with few exceptions).
Since you are the brand, you need to introduce yourself, showcase your expertise and prove your value. Be yourself and let the webinar attendees get to know you.
Potential customers can’t come to trust you and have confidence in your services until they feel they know you. A free webinar checks every major box with one quick and effective method.
Use Paid Traffic Effectively & Retarget That Traffic
You already have subscribers to your newsletter and free webinar, but how do you expand your reach in 24 hours or less?
Time to utilize paid advertising. When correctly setup and managed, Facebook and Google Ads are among the most cost-effective with the highest returns and fastest growth potential. Both platforms allow you to hyper-target your market, so you can narrow in and reach your preferred customer without wasting money.
Add in a retargeting component, and Facebook and/or Google will follow your potential members/clients across multiple websites and platforms. In this way you’ll be reminding them around the clock who you are, what you can offer them and more importantly what they’ll miss out on if they keep ignoring you. After all, fear of missing out is potent.
If you are a ServerWise client and feel overwhelmed, please open a ticket, and we will gladly guide you.
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