Becoming a coach is one thing, but running a successful coaching business and scaling your coaching income are different ball games altogether.
For instance, a life coach’s income in the USA may range anywhere between $75 and $1,000 per hour (and even more if you are certified), with the average session cost at about $150 per hour. If you wish to make more than the average life coach’s income, you need to be able to make the right decisions to scale — one of that is to partner with the right coaching management software.
Here’s how coaching management software can help you reach your income goals:
1. Acquiring new clients
One of the biggest problems coaches come across is finding new clients. And without a steady flow of clients, it’s difficult to generate the revenue that you want to. Hence, coaches need to find effective ways to acquire new clients to maximize their coaching income.
Let’s start with 4 fundamental questions:
a. How much more money do I need to generate?
b. How many more clients do I need to generate that much income?
c. What extra can I charge each client to generate that amount of income?
This helps you identify the revenue you should generate to make the profit that you want. Once you have a clear answer to the above 3 questions, you move on to the last one:
d. How many prospects do I need to engage with for me to be able to enroll enough clients?
This last question touches upon the effective marketing and selling of your coaching services. As T. Harv Eker (author, businessman & motivational speaker) has righty said, “your income can grow only to the extent you do. You earn in proportion to the value you create for others”. Hence, at any given time, it’s necessary to showcase the value your services would bring to your potential clients. This is exactly where coaching management software like Simply.Coach comes into play – streamlining and accelerating the process of client acquisition. Let’s see how:
Bringing in potential clients and turning them into paying clients isn’t an overnight job, it needs time and effective communication. With Simply.Coach, you seamlessly create a landing page — known as the Showcase page, to attract prospective clients. Include the link in your LinkedIn About section, run advertisements that land on the page, and so on.
This page will showcase your professional profile, exhibit your forte as a coach, display your qualifications, certifications, credentials, and allow interested prospects to book a discovery session with you based on your shown availability. What else? It also acts as a lead generation touchpoint, where enquiries and appointments are tracked as prospects for you. This allows you to then follow up with email communication, if you’d so like, to convert them into paying clients.
2. Effective time management
When you run a coaching business, you not only offer coaching sessions to your clients but also need to take care of the administration of the business at the same time. In doing so, there is the risk of spreading yourself too thin and having to compromise on the coaching itself.
Hence, to maximize coaching income, effective time management is the need of the hour. That’s when you fall back on coaching software. These platforms take most of the admin work off your plate, streamline your workflow, and help you focus on your interactions, outcomes, and growth instead. With multiple digital tools and features under one roof (and often at a very reasonable price), you become more productive in your job and generate higher revenue.
With Simply.Coach, you can automate all the nitty-gritty behind-the-scenes processes of running a coaching business. It offers necessary features like session scheduling, contract management, contact management – so you can reach out to multiple contacts at one go, automated invoicing and payment tracking, etc. so that you have enough free time at your disposal to focus on coaching and take up more clients.
For instance, Simply.Coach’s session scheduling integrates your calendar and video conferencing
accounts, so clients can directly book discovery or their regular coaching sessions based on your shown availability with automatic time zone conversion – a great way to save time on the usual scheduling back-and-forth, especially when conducting group coaching sessions.
Not sure which coaching management platform to choose?Our blog post has dived deep into the top 10 online coaching platforms!
3. Maximizing social media presence
Which brand today doesn’t benefit from having a solid social media presence? Social media platforms work wonders when it comes to marketing your services and building strong professional bonds that may transform into a long-term client-coach relationship.
LinkedIn in particular has proved to be quite productive for business/executive/leadership/career
coaches, while Instagram works well in the life coaching, relationship coaching, health & wellness space. However, publishing consistent posts, constantly keeping up with content trends, etc. could be quite a challenge.
Coaching management platforms like Simply.Coach help in networking and brand building but with half the time and effort. You can utilize this time to take up more coaching sessions, more clients, or participate in additional revenue streams like productizing your business with ebooks, speaking engagements, etc. and maximize your coaching income.
How does Simply.Coach help? It’s LinkedIn Integration feature (which is soon to go live) allows you to plan and schedule posts, get suggestions for potential clients, and stay you updated on trending posts so that you can actively participate in relevant discussion and come across as a thought leader.
4. Optimizing email marketing
Over time, you’ll gather the details of prospective clients – a database of emails gathered from queries, from visitors to your website, and so on. Email marketing keeps these prospects and your existing clients updated about your offerings and how you can help them. If you are regular with your emails, it helps engage your audience and you are at the top of their minds when they finally decide to seek help from coaching. But it’s easier said than done—consistently sending out emails could take up a lot of time and effort. Here’s where coaching software helps.
With a coaching management platform, you can automatically send out emails to your existing contact list at one go. For instance, Simply.Coach offers Email Integration with MailChimp, Constant Contact, etc. So, you can schedule and send out updates, promotional emails, requests for testimonials and referrals, etc. to your contacts right from the platform.
5. Standardize and scale your coaching journeys
For the ease of understanding, equate a coaching journey to that of a class syllabus in an educational institution. The syllabus helps design a course and set expectations from it — in short, it helps the instructor frame the course of action of a particular program. Similarly, a journey is a pre-planned route that the coach and the client embark on in their coaching journey, designed by the coach.
With coaching management software like Simply.Coach, you can create a master journey and then
replicate it across clients – making customizations along the way to account for the individual needs of different clients. Plus, you can attract more clients and increase sales with the help of your unique approach and methodologies.
Simply.Coach also offers templates for Journeys, available right within the platform, which you can customize in a way that suits your brand over 3, 6, or 9-month programs. You can also showcase the visible framework of your approach to your prospective clients, convince them that you are the coach they need, and seamlessly convert them into paying clients. With Simply.Coach’s Journey feature, you can also create journeys for individual clients who are part of a prospective team engagement.
1. How can a coaching/mentoring management platform help me maximize my coaching revenue?
A coaching management platform can be instrumental in maximizing your coaching revenue by aiding you in attracting more clients, automating he administrative work, and by offering you the right set of tools that help deliver quality services in both a 1:1 and a group coaching setup.
2. How do I market my coaching services using a coaching/ mentoring management platform?
Many coaching software allows social media or email integration features within the platform. This helps you market your services with ease, stay consistent with your posts and emails, schedule them, and reach out to multiple prospects and clients at one go.
3. How can I use a coaching/ mentoring management platform to upsell or cross-sell coaching services?
With the help of a coaching management platform, you can upsell or cross-sell coaching programs that you may be running. Moreover, as you share relevant resources for free against a session, you may also cross sell relevant ebooks, etc. (if you have written any) for your clients to deal with their challenges better from the platform itself. Simply.Coach will soon incorporate Subscription & Session Packages where you can create ready-to-view session packages and allow users to buy them or subscribe to them.
Simply.Coach is an enterprise-grade coaching software designed to be used by individual coaches and coaching businesses. Trusted by ICF-accredited and EMCC-credentialed coaches worldwide, Simply.Coach is on a mission to elevate the experience and process of coaching with technology-led tools and solutions.