Just as a ship leverages the wind to power its sails and moves towards its destination with far greater speed and ease, so too can a digital marketer or entrepreneur leverage existing trends to build a stronger business without the typical burnout.
And if you’ve followed us here at Kajabi for any length of time, you’ve probably heard us talk about how the E-Learning market (what we call Knowledge Commerce) is speeding towards its projected 275 billion dollar valuation by the year 2020.
We beat that drum a lot because it’s like a hurricane-sized wind powering the sailboats of thousands of digital entrepreneurs throughout the world.
People just like you are finding financial freedom, building the business of their dreams, and living out their passions every day because they’ve hooked their “boat” to this massive trend.
But today it gets even better...
In this post, we’ll be discussing another billion-dollar force which you can take immediate advantage of if you aren’t already.
Many of you reading this may have already created your online course, membership site, or another form of a digital product like an E-book or PDF download. All of which are crucial components of a thriving Knowledge Commerce business.
But if you’d like to quickly take your revenue and impact to the next level, adding a high-ticket coaching offer into your range of products could transform your bottom line almost overnight.
The $2 Billion Dollar Coaching Industry
According to a recent article in Forbes, the coaching industry is estimated to be a $2 billion dollar global market. And this is mainly just associated with business or executive type coaching and not attributing the many high-ticket coaching which occurs in the Knowledge Commerce space which we’ll talk about today.
It’s one of the fastest growing trends out there and for good reason. It works! Prospects have proven they’re willing to spend good money to receive quality help, advice, or accountability.
In today’s article we’ll identify 5 tips you’ll want to consider as you seek to incorporate this type of service into your online information-driven business.
5 Tips To Successful High Ticket Coaching
The key to remember with any kind of coaching is that your success has far less to do with “credentials” and almost everything to do with your ability to produce a result for your prospect. Keep that in mind and you’ll do well.
#1: Know Who You Serve
Knowing who you serve is the foundation and starting point for all successful high ticket coaching. Starting here enables you to craft your coaching offer in such a way where the right person has no problem with the investment you specify is required.
Do not brush this off.
When you’re unclear on your exact avatar, your offer and marketing become diluted and far less ineffective. If your coaching is for everyone, it ends up being for no one.
So here are a few questions to help you nail this down and move onto our next step:
- Who is the exact person you can help the most? Describe in detail.
- What is the end result your prospect wants more than anything else?
- What are the 3-5 common roadblocks stopping them from getting there?
- How can you turn these 3-5 roadblocks into elements of your coaching offer?
- What is it costing your perfect prospect if they stay where they’re currently at?
- What could change in their life if they decided to work with you?
The goal is to create your coaching for a clearly defined single person. If you have multiple coaching offers you’d like to create, you may want to tweak each one to best meet the avatar which it would most resonate with.
Coach a specific “type” of person. Your messaging and offer will flow from this point.
#2: Clarifying Your Offer
Once you know the who, now you can unpeel the what.
Your offer should be solving some sort of high-level problem for your perfect prospect.
Successful coaching offers are all about one thing...results! If you can craft an offer which speaks to the pain points of your prospects and allows you to promise (as much as possible) the results which they seek...it’ll be much harder to fail.
But remember, your offer is based on the questions you answered above. You cannot have a clear, powerful, irresistible offer if it isn’t “custom-made” for a specific individual.
Your offer is made up of three specific elements:
- The What
- The How
- The Investment
What problems is your coaching offer solving and what big results can your prospect expect?
How will you help them accomplish this? How long will it take, how will the coaching occur, etc?
What is the investment?
***Remember, there’s a difference between investment and cost. When you’ve created a powerful coaching offer, there’s always some sort of return your client will receive by working together. You want to constantly be highlighting this point.
Typical high-ticket coaching ranges from $2,000 - $10,000 and anywhere in between. It can even be far above that if you’re helping solve problems for prospects who can afford that sort of price tag.
Choose a price that best works for you and which you’re comfortable with. Maybe even a little lower than what you think it’s truly worth if you’re just starting out. That way you can get people signed up, make improvements, and raise your price once you’re ready.
Use this 3-pronged framework to develop an offer which your perfect prospect would find difficult to turn away from.
#3: Strong Reason Why
This tip is fairly straightforward but one you want to make sure you can communicate at the drop of a hat. If your perfect prospect was to ask you “why should I work with you?”...what would you say?
By answering the questions we’ve outlined above, you should have a better idea how to form your response to this.
Ultimately you want to create a rock-solid reason why which can be deployed in all of your marketing. A clear, believable, proven reason why is one of the most powerful and persuasive marketing elements you can have at your disposal.
Why should that prospect coach with you?
Why did you decide to create this offer?
Why are you qualified to help them?
Why should they act now and not continue to wait?
Why are you different than other similar offers out there?
The answers to these why questions become the fuel to help your prospects take action. If you’ve created an irresistible offer aligned with your perfect prospect, the reason why they should take action should nearly hit them atop the head.
And that’s exactly what you want :)
#4: Different Types of High-Ticket Coaching
While there are many types of coaching formats, the two most popular for digital entrepreneurs and online marketers are 1-on-1 and small group.
Typically, the more personal the coaching, the more expensive it’s expected to be.
Both formats have been proven to consistently deliver results, so it really comes down to what works best for your specific business and allocation of resources.
You can also create some type of hybrid where you offer a 1-on-1 call once a month along with weekly group calls.
The question you want to ask yourself is “what format allows me to deliver the best possible result for my client?”. This question will help you create a coaching program that’s not only profitable, but long lasting as happy clients tend to tell others about their good experience.
So instead of choosing “which one will make me the most money”, base everything off how your coaching offer will help your end prospect and everything will flow.
And always remember, you can tweak any of this as you go. Nothing is set in stone. If you launch a 1-on-1 offer but then it’s just not working with your available time, you can change it for future customers.
#5: Start Now
Whether your online business is still brand new, or you’re a bit more seasoned with plenty of sales under your belt...now, not later, is most likely the best time for you to add a high-ticket offer into your business.
The reason is simple...sales and revenue.
Since these offers are typically far more expensive than your normal products, you only need to sell a few of them to generate an additional substantial income for your venture. And as you undoubtedly know, your business only succeeds if it can consistently produce enough revenue.
Here are a few very simple ideas to help get the ball rolling…
- After you’ve gone through this article and answered some of the foundational questions, fleshed out your coaching offer, investment, and duration, give your new coaching program a name. This will help lend it credibility and get people more interested.
- Send an email “announcing” this new offer to your list of subscribers. Lead the email with all of the main ‘reason why’ we established earlier.
- Post on your Facebook profile or business page about the new offer.
- Instead of sending everyone to a sales page or immediate checkout, take them first to a phone call (strategy session) with you where you can better identify if they’re someone who this offer might truly help.
That’s really all you need to do in order to get the ball rolling.
As you go and you start adding more coaching members, you can refine each part of your offer and even add in additional marketing elements such as Facebook ads. But for now, the key is to simply start today.
Start even if you’re not ready. Or...start ‘especially’ if you’re not ready.
Adding in a high-ticket coaching offer into your business can transform your bottom line overnight. Can you really afford to wait another day to implement one?
Knowledge Commerce And Coaching
No matter what you sell, the chances are fairly high that there’s a way for you to work in some type of high-ticket coaching offer into your business.
If you’re stuck and unsure of how to structure everything, one of the most effective things you can do is to model other successful coaching offers. Simply look around and you’ll find them everywhere. From fitness and finances to business and book writing. There’s a coaching program for nearly everything you can imagine.
Knowledge Commerce and coaching have always been perfectly aligned.
Use these others structures as a template for you to fill in and customize on your own.
As you do, remember our 5 tips:
- Know Who You Serve
- Clarifying Your Offer
- Strong Reason Why
- Different Types Of High-Ticket Coaching
- Start No
Unsure Of What To Sell?
And If you’re still in the “idea stage” and are unsure what you’d even teach online, we’ve recently put together a brand new, completely free, 3-part video training series which takes you from idea to your first mini-course.
Click the link below to get immediate access to the first video:
If you already know what you’d like to teach and would rather jump right into the Kajabi platform and take it for a risk-free test drive, below you’ll find a link for your 14-day free trial…
Use Kajabi to Turn Your Knowledge And Content Into Products You Can Sell
We know that you have something to teach the world. We also know there are people out there who want to learn what you know.
That’s why we created Kajabi. It’s a full-featured platform that allows professionals like you to create their own businesses from home.
Create online courses, establish membership sites, and sell other digital products. We offer tons of marketing tools to help you spread the word about your products and earn more revenue.
Of course, launching a business represents a huge commitment. We understand that.
To help ease you into the process of creating a Knowledge Commerce business of your own, we offer a 14-day free trial.
Get unfettered access to our tools, templates, and other assets so you can fully explore what Kajabi has to offer.
Are you ready to become your own boss? Now’s the time.
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