Coaching the masses is enticing… especially as most coaches believe that the more people they can offer their services to the more sales they’ll make. From a marketing perspective, this way of “thinking” can’t be further from the truth.
...why the “I’m a coach and I can coach you in anything” approach won’t convince a client to reach for their credit card.
...the #1 thing your prospects want to know before they engage with you at all.
...why you’re better off focusing on a niche rather than the mass market.
...the 5 benefits that come with serving a niche.
...whether there are certain niches you can make more money in as a coach.
...why you should steer clear from referring to your niche as life, health or success coaching.
...the simple yet powerful niche formula that makes defining your niche a breeze.
If you want to run a successful coaching business, it’s crucial to think like a marketer and market like a coach. However, to do this effectively, you need to understand the basic marketing principles first. Fortunately for you, watching this video is your first step towards it.
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Have you ever been told that as a coach, you have the skillset and tools to coach anyone in anything?
I mean, hello unlimited opportunities and clients and money...
Well, at least I’ve been told this phrase when graduating from coaching school. I agree with the fact that you can coach anyone in anything, but if it’s a smart move to do so, is a different story. One I’ll shed some light on during this video. Stay until the end, and you’ll know if you should offer your coaching services to the mass market or if you’re better off focusing on a niche market only. And, I’ll bust some common niche related myths you should know about.
I still remember how the eyes of my peer coaches lit up as they imagined an unlimited stream of coachable humans flocking to their digital office. However, having worked in the marketing world for a long time, I couldn’t share their excitement about this incredible outlook on starting a coaching business. Because I knew that the “I’m a coach and I can help you with anything” approach won’t convince a client to reach for their purse.
What I knew back then and still believe now is that a prospect wants to know only one thing before they engage with you at all, and that is, they want to be certain that you’re the best coach to fix their unique problems or support them in accomplishing their specific goals.
Let me say that again: They want to be certain that you’re the best coach to help them fix their unique problems or support them in accomplishing their specific goals.
That’s all they want to know from you. Just think about it. If you had a serious heart condition, would you let your GP reign the parade or trust a heart specialist to help you get this sorted asap? I bet you’re a bit like me and you would go with a heart specialist.
If your potential clients can’t find themselves and their situations or goals in your niche based messages, they move on faster than you can say “please wait, I’d love to explain”. Focusing on everyone is simply put ineffective as you will waste a lot of elbow grease and a bucketload of money putting your coaching packages in front of people who don’t trust that you can help them specifically. That’s why you need to turn your back on trying to please or serve or coach the mass market and focus on a well-defined niche market.
Having a niche is so powerful that it’s one of the most asked questions fellow coaches want to know from me all the time... “So what niche should I focus on?” Because they get it and I know you do, too.
Niching down means levelling up.
Think about all the benefits that come with a niche:
Now that we have the mass market versus niche market question out of the way let’s look into which coaching niche is the best one for you.
Before we move on, I’m curious, what’s the number one reason for you to focus on a niche rather than the mass market? Let me know in the comments here. Back to the “best niche for you” question.
There are two common misconceptions which I like to get out of the way first:
Number one is that there are only one or two niches you can make money in as a coach. It’s so not true! I know successful coaches in many niches, and I know unsuccessful ones in the same niche. So the “just work in this niche and you will make it recommendation” is BS. Pardon my French here.
Misconception number two is that once you decided on if you want to focus on life, health, career, or parent, teen, executive coaching, you’re all set up for success. Wrong! Those are not niches from a marketing perspective. Why? Because they’re only focusing either on a very generic “who” like parents, teens, executives, or a very broad “what” - think life, health, career.
A good or well-defined niche is, in my opinion, based on the following formula:
Niche = Who + What.
What do I mean with that? Let’s assume there’s an executive out there who wants coaching in overcoming burn out and kinda future-proof herself that she doesn’t fall into the exhaustion trap again. And let’s assume the medical part is catered for. Would she search for a life coach as you know the burn out impacts her entire life? Or would she reach out to a health coach or a success or career coach? Or an executive coach because that’s her field of work, right? Hmm, tricky one, but guess what? She won’t search for any of those coaches. Think about it.
What would she type into Google? Support with getting back on track after burn out or how to ease into your life and demanding job after burn out or how to overcome burn out as an executive and avoid relapse... I think you get the point. They don’t want a life, health or career coach. They want to know if you can help them, specifically with their kind of problems and goals.
So let’s look at what the niche would look like in this example: coaching female executives in getting back on track after suffering from burn out and supporting them in easing into their old jobs without relapsing.
I’ll give you two more examples to help you understand this niche formula fully:
First one: coaching, first-time moms, your “who”, in having more energy to power through the day without time-consuming self-care rituals, that would be your “what”.
Or coaching busy fathers, your “who”, in getting that well-deserved promotion without the need to spend their weekends playing golf with the CEO - your “what”.
Got it? Perfect.
Over to you. Following this formula, what's your coaching niche description? Leave a comment here. I can’t wait to see how you applied it to tweak or even redefine your coaching niche.
Now you know whether you should focus your efforts on the mass market or a specific niche because you understand what powerful impact a niche can have on any coaching business, including yours - if you’re open-minded to narrow it down and give it a fair go. And you’ve got the formula to turn your niche description into one your ideal clients instantly resonate with.
By the way, if you want to follow a 5-step process to nail down your niche once and for all, download the “Coaching Niche Finder” workbook. It comes with an in-depth training lesson so you can follow along easily and have your niche figured out in under 90 minutes. You can download the workbook and training by clicking here.
Also, I’d be thrilled to welcome you inside my free “League of Brilliant Coaches” community where I share marketing strategies to help you get more coaching clients. Interested? Then click here.
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Learn more about the SMART process to find your coaching niche or you can dive into the three components you absolutely must consider when you want to be sure that you’re going after a profitable coaching niche by watching my other videos on Youtube. Bye for now, and I’ll see you in the next one.
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