new coach connection blog

Recently, I had the pleasure of being interviewed by Simon Allard on one of my favorite subjects: Marketing a coaching business (specifically, sales funnels and multiple streams of income). Listen to the interview for free here.

I thought I’d outline some of the tips we discussed here on the blog, only instead of doing the predictable thing and listing what TO do, I figured it might be interesting to look at this from the “what NOT to do” perspective.

First: “Tell me again, what’s a sales funnel and why do I need one?”

A sales funnel is simply a way to describe how you get, keep and grow the lifetime value of customers. It defines the stages that people move through in your business and the strategies you use to help them move from one stage to the next.

Without a well-planned sales funnel, you’re much more likely to have gaps in your marketing system — and gaps can be fatal.

So if your business is not what you want it to be – if your list isn’t growing; if getting clients seems harder than necessary; if your marketing is landing on deaf ears – check to see if any of these techniques for wrecking your sales funnel sounds familiar.

7 ways to wreck your sales funnel

#1: Just say no to a target market.

What do you say when someone asks, “Who do you work with?” If your answer begins with “Anyone” or “Everyone,” or if you can’t outline the problem that your business helps them with in a simple sentence, your market is probably too broad. And the broader your market, the less relevant you’ll seem to individual prospects.

Unfortunately, a broad market is something few self-employed coaches can afford. It eats into your profitability, because proving that you’re relevant to a variety of people with widely different goals and needs takes more time and effort.

It’s far more profitable (and easier!) to focus on a well-defined target market – a group of consumers who share certain key characteristics, including a common problem or goal. You’ll find that it’s easier to connect with potential customers and help them get the results they’re looking for.

Bottom line:
Make sure you have a clear understanding of your target market and the problem that your business solves.

#2: Blend in.

This is the Information Age; as consumers, we’re constantly bombarded with information through all kinds of media. Think about it: of the thousands of ads that you’re exposed to every day, only a couple hundred might register for a few seconds, and an even smaller fraction will stand out enough to actually grab your attention or stay with you for any length of time.

We’ve learned to tune most of it out, like so much background noise; we have to, or we’d go nuts!

The thing is, if you don’t rise above the noise, your market will simply never hear you. You need to stand out. You also need to make your message ’sticky’ so people don’t forget you in ten seconds.

Bottom line:
Have a strategy for standing out and holding the attention of your market.

#3: Put junk in your freebie.

Some coaches grab any old stuff that’s laying around and dress it up as their freebie. They’ll dig up an article they wrote last year or string together ten random quotes and call it a ’special report.’ It often doesn’t have anything to do with their customer’s coachable issue or the coach’s approach to solving it. It’s just free junk.

They do this because they don’t understand the real purpose of a free sample. They think they’re just giving something away to get people on their mailing list, but a proper free sample does much more than that: it introduces your approach and pre-qualifies your leads so that they’re more likely to become customers.

Instead of putting free junk out there for anyone who happens to wander by, offer something designed to make a real impression on your particular target market, something that gives them a real taste of your signature approach to their problem. Leave them thinking, “Wow, I would have expected to pay for this level of value, and instead, I got it for free! I wonder what else this coach has to offer…”

Bottom line:
Offer a generous free sample that introduces your approach to solving their problem.

#4: Ignore your prospects.

A prospect is someone who has opted in to your mailing list, but hasn’t bought anything yet. They trust you enough to give you their email address, but not enough to give you their money yet.

People buy from businesses that they know, like and trust. In other words, they buy when they feel they have a relationship with you.

So one of the best ways to wreck your sales funnel is to simply ignore your prospects. Give them the special report and then leave them alone until you’re ready to promote your next teleclass; harass them with emails about the teleclass for a little while, then leave them alone again.

Whatever you do, don’t send out a newsletter on a consistent basis. And if you REALLY want to shoot yourself in the foot, don’t use a list management/auto responder system like Aweber.com or 1shoppingcart.com; instead, keep all your leads in your personal address book and try to remember to add and remove subscribers by hand.

(Just don’t be surprised when you’re blacklisted as a spammer.)

Bottom line:
Put a system in place to automatically capture, manage & keep in touch with prospects over time.

#5:
Paralyze your customers with lots and lots of options.

This is where people tend to go a little overboard about the whole ‘multiple streams of income’ thing. They start dreaming about passive income and suddenly they’re whipping out ebooks and audio programs left and right. Before you know it, they’ve got sixteen pages of products, and every product has at least three bonuses.

And their prospects have a slight headache and a dazed look on their faces as they quickly click away. Because there’s too much; they can’t make up their mind.

The main objective at the introductory product level of the funnel (level 3) is to convert prospects to customers; passive income is the icing on the cake. To convert more customers, more quickly, your goal is to remove as many barriers as possible; keep the price low, remove risk with a money-back guarantee, and make a compelling call to action – promise the customer some relief from the problem they’re struggling with.

And don’t confuse them with too many options. Because when they can’t decide what to buy, they DON’T buy.

Bottom line:
Offer a low-cost/high value introductory product that addresses the customer’s #1 problem and gives them some relief.

#6: Leave money on the table.

Here’s something that few coaches realize: One-to-one coaching isn’t the most profitable level of your sales funnel. Yes, it’s the most expensive level (level 5), but it’s also the most time-consuming and the most limited in terms of how many ‘units’ you can potentially sell – because you’re the only one who can deliver this particular service, and there are only so many clients you can work with at any given time.

So where’s the most profitable level of the funnel? It’s level 4, after introductory products, but before the premium coaching level. The objective at level 4 is to keep and grow the value of customers via high-value, moderately priced products and programs, especially do-it-yourself programs (homestudy programs; toolkits; audio programs), group coaching programs and membership programs (coaching clubs).

A significant number of the people on your mailing list today will NEVER buy 1:1 coaching. They’ll hang out on your list, happy to get whatever you give away for free or perhaps buy some of your introductory products, but they either can’t afford or simply don’t want 1:1 coaching.

However, some of them MIGHT buy something a bit more expensive than an ebook…if only you had something to offer in between levels 3 and 5 in your sales funnel.

If you don’t offer it, they can’t buy it from you. If they want it bad enough, they’ll just go buy it from someone else.

Bottom line:
Offer mid-level products and programs for the value shoppers.

#7: Hide the silver.

Do you know what the single most valuable asset in your business is? It’s YOU; your expertise, knowledge, connections, and especially your time and attention. Without you, there is no service. You are your own golden goose.

Unfortunately, none of those concepts (expertise, knowledge, connections, time, attention) is tangible. You can’t actually see or touch them, which makes your premium services seem less ‘real’ to customers.

But it’s actually not that difficult to package your premium services in a more tangible way, by including value-packed features and benefits and by creating a graphic image for the coaching package.

Don’t hide the value of your premium program just because it’s less tangible; showcase your coaching services to get more clients.

Bottom line:
Create an attractive premium coaching package for customers who want customized or exclusive access to you.

©2008 by Kathleen L. Mallary. All Rights Reserved.

Kathy Mallary is a marketing strategist and business development coach who specializes in helping professional coaches find a lucrative niche and create signature coaching programs and products. Discover how to build a thriving one-of-a-kind coaching business at www.spiritspring.com

This is Part 3 of a 3-part series on my 3 favorite and most effective marketing methods. For me, these techniques result in new clients, speaking and training opportunities. This month is about conducting complimentary consultations. Here are links to read Part 1 and Part 2.

TECHNIQUE #3.  Conduct Complimentary Consultations

The complimentary consultation is a structured visioning session that allows you to demonstrate how you would work with the prospect if they were already your client and culminates in a sales conversation. My recommendation is that ALL your marketing efforts funnel into this complimentary consultation.  Consider this consultation as step 2 to any marketing effort. Whether you use speaking, writing, offering free taste teleclasses, networking, or advertising, this is a powerful tool to help your prospects and you both determine if your services, philosophies, programs and personality are a good fit. 

The cool thing is this is true for individual coaching, group coaching or any program you offer… including  getting hired by a company to deliver training or consulting.  This is format can be your guide to any sales conversation using a coach approach.

• Make it clear who your ideal clients are and the solutions you deliver when you invite people to this meeting. Be selective so you can do your best work and only talk to prospects who fit your ideal client criteria! When you invite someone or a group to sign up for this session, say,” I do my best work and want to work with people who fit [this population] and who are serious about making positive changes.”  Feels powerful to say it doesn’t it? 
• Have an outlined general agenda on paper and share your plans for the call at the beginning. Ask for your prospect’s agreement to the agenda. I’ve never had anyone disagree.
• It is very important to say, while reviewing the agenda, “If we both feel there is a good fit, then I’ll ask you to be my client.” Put the money question out on the table instead of letting it lurk in the background, distracting both of you from being present. 
• Here are recommended agenda items to include. This is where your coach approach shines forth without coaching in the traditional sample session way.  Your goal is to:
  • Find out where your prospective client is today in the area of their life in which you specialize, where they’d like to be, what seems to be standing in the way. You’ll have opportunities to coach them as you help them identify these pieces. Many are not clear what they want and why they are not getting where they want to be.
  • Tell them how your program works (define your “program” or typical coaching processes first!) and the outcomes you deliver. If you can help them, say so! Give them some idea of where you would start. Tell them you want to work with them and why. 
  • Ask them what they need to know to make a decision. Let them ask about costs. Customize a program that fits them if needed.
  • Allow room for questions along the way.

This approach provides an easy transition into the sales “talk” without it feeling like selling. Ths tool will help you feel more confident because you have a plan for the call.  Your prospect will be nodding their head “yes” with relief that you have a plan for the call and for your coaching to get to their desired results.  Saying “yes” to working with you will be a natural conclusion if you genuinely have a good fit and your prospect knows what to expect and how your plan will help them. In this call they begin to get to know, like and trust you.

TAKE ACTION!

Create an agenda that is prospect-focused like the one described here and then invite and book 3 complimentary consultations. Notice what works and what doesn’t. Go get 1 new client out of 3 calls. It is doable! Write to the author at gail@inspiredchoice.com for tweaking if needed.

* I credit learning the core of this process to Michael Charest, of Business Growth Solutions, and several great coaches and marketing teachers along the way, topped off with the Gail touch!

Gail Sussman Miller of Inspired Choice, teaches women solopreneurs and small business owners how to love marketing obstacles and overcome them with ease. She offers a recording of a one-hour teleclass on “4 Steps to Conduct Complimentary Consultations That Sell” here, which includes a call outline to make successful non-sales sales conversations a habit!

Have you thought about adding video to your business website? Now that it is easier than ever, its a great time to take that step. The addition of a video clip will help market your business by instantly creating a bond with your visitors, customers/clients, that plain text can’t duplicate. While holding their attention with your video introduction, you are gaining the trust of your future clients. Video also creates a sense of professionalism that will separate your business from the competition.

Take a moment and think about how many websites you have visited and watched some form of video. The internet is moving more and more into the realm of Web 2.0, which is a term that refers to changes in the ways software developers and end-users use the Web. Web 2.0 sites like MySpace and YouTube are more popular than ever. Websites containing some form of video are becoming the norm.

For the do-it-yourself approach, you will need a Webcam, which is available at BestBuy, Circuit City, OfficeMax etc… Hi-Speed Internet (DSL or cable connection) and a Web 2.0 site like YouTube, Google Video or Yahoo Video. These are just a few examples of 2.0 Web sites that enable you to publish your own recorded video to your website free of charge.

If you need to learn more about adding audio and video to your website or creating a new website with video, there are many on-line software programs that provide step-by-step instruction on how to publish your videos. There are informational, instructional or “how to” videos. No matter which format, adding video can increase traffic to your website giving your business more exposure and as a result, increasing your bottom line. Decide what video format will best serve your business and go for it!

Donna Toothaker is founder of www.1stVA.com, the highly sought-after company that works with the top nutrition and fitness professionals in the country. 1st VA specializes in providing online marketing support and services to professional coaches and speakers who wish to effectively build or improve their online presence.  To discover how 1st VA can help your business - visit http://www.1stva.com.

Usually, this time of the month, I post an interview.  But, this time is different.  I put out two requests to interview people and was turned down both times.  Seeing as I started searching for interviewees Friday last week I’m not too shocked.  People’s lives are full and busy - as is mine.  So, instead of stressing myself out (and potentially another person) trying to get an interview posted today I thought I’d listen to the universe and back off. 

Also, learning from this experience, I would like to schedule interviews four, or more, months out.  If you would like me to contact a colleague for an interview, or you yourself would like to volunteer to be interviewed post a comment or drop me an e-mail.  I’m open to any and all suggestions.

So, spread the word and thanks for reading and supporting our blog.

Kim Woodworth, M.A, is a Parent Coach working specifically with parents and the unique issues they face. Do you want to have more energy for yourself, your spouse, and your children; and to experience fulfillment in your role as a parent? Contact Kim to discuss the possibilities. http://www.ourcasa.com/ 

It is important to your coaching business to stay attuned to what is happening in your niche.  You are trying to position yourself as an expert in that area and so you must be constantly collecting new information.  You want to get news reports, learn about the latest changes and stay abreast of what your niche market is talking about and is interested in.  There are several tools to be aware of in order to be as current as you can. 

Google Alerts will automatically search for the key words of  your choice and send you an email when items are found.  You can determine what material is searched including news articles, web pages, blogs and more.  You can chose either to have a continuous search or keep the results to one daily email using the daily search function.  Before you set up your Google Alert searches, be sure to read through the search term information under the Advanced Search Tips page. 

When you are researching other websites in your niche, you will want to use the “related” search feature in Google.  You determine one of the leading websites in your niche and this tool will quickly show you other websites that are considered similar. There are several ways to access this Google tool, but the easiest is to type into Google in the following format -  related:www.websiteyouknow.

Next you will want to look for popular blogs in your niche using the Google Blog Search Tool.  Once you have found blogs that you like with relevant information for your niche, you will want to get notified every time more info is posted on those blogs.  There are two ways to do this - the RSS feed and the “blog to email” option.  For the less technology savvy coach, the blog to email option is easier.  Each blog should have a place to sign up for this so that you will receive an email whenever there is new content.  RSS feeds allow you to have the information sent directly to your internet service provider homepage.  If you would like further information about getting your info through RSS feeds, click here for a blog post and video on how to set that up.

In addition to those ongoing ways of keeping track of your niche, you will want to do periodic research on topics of relevance to your niche market.  One interesting way to do that is with the search engine site Answer.com.  This search engine gives you direct information on your topic instead of directing you to links to search further.  You can check for specific terms at Answer.com or even ask direct question.

Another resource for reference information is the website of the American Library Association where there is a list of the most reliable reference websites.  There is also a Google custom search engine tool developed by a research librarian that looks at 225 of these reference sites and gives very credible search results.  You could get these same results in a regular Google search, but not necessarily at the top of the list.  Use this tool when you want to pull together quality information. 

If you have a niche that is very popular or if you want to tie current news into topics for your niche, you will be intersted in Google Trends and Yahoo Buzz Index.  Both of these tools list the terms that are getting the most current searches.  The Google version also lets you check nistorical data for your terms.

Remember that you want to become an expert in your niche and stay that way.  Some time spent with these tools can move you in that direction. 

About the Author - Janet Slack of Life Adventure Coaching is a specialist in helping new coaches, therapists and consultants create the thriving business of their dreams.  Sign up for her free weekly business tips for coaches, Biz Tips for Coaches.