How to Remain Relevant to Clients
According to the international coaching federation, the coaching industry is worth about $9.9 billion at the moment, with 17,500 coaches in the United States only. The core specialties concentrated on are spirituality, weight loss, relationships, lifestyle, business, exercise- and the weirdest topics you can think of. With an average yearly growth rate of 6.7%, this may double by 2022.
With a massive increase in the coaching industry value of $1.02 billion in 2016 to the present $9.9 billion, the market looks saturated. Clients now have the option of dumping one coach for the next one at the slightest chance. There is a visible hustle for clients and it is a survival of the fittest out there.
Regardless of this situation, some coaches and service businesses still maintain a heavy stream of clients, are still sought after- and rake in heavy income, up to 7 figures at the end of every month. Some others have gone ahead to lose clients on a daily and sometimes, end up closing their practice and retiring early.
Are you aware that the coaching industry is about to experience a hit so bad, that only the top 1-5% coaches may likely survive?
This brings us to ask you some pertinent and salient questions.
What makes your business stand out?
How do you stay relevant in this saturated market?
Are you doing everything right to make sure you don’t lose ground?
Are you seen? By who and how do people see or perceive you?
Lastly, what message do people get when they see or talk to you?
These are necessary questions you can answer honestly when you check your business strategy. Everything you do is marketing, because a person who has an encounter with you tells the next person. Good or bad, the news keeps spreading.
Having worked with coaches, consultants, realtors and other service business owners, we can confidently tell you about client attraction and mistakes service businesses make, that bring their businesses to a halt!
Evaluate our strategies below and you will find the answers you need to get up and stay up!
Your Business Name Says A Lot
Naming your business after you is a wrong move for many reasons in today’s world. That may have worked years before, but we are in a new era and things change. When you pick out company names, the first factor to put into consideration is what message it passes to the audience.
Your company name should give a clarifying hint about what you do. Unless you run businesses like automobile, hospitality, health and the likes where you can attach your services to the names, go for a company name that speaks.
Another reason why you should use your name is if you are the face of your brand and wish to be recognized.
Picking a company name that fits your services has more advantages than you can think of. It takes you, the founder, into the shadows and brings your services to the forefront. This gives your clients ease associating your company name with the services you offer.
A very important point, because often times, company names precede them. How are you identified and accessed when you are not there? Your company should be separated from your personal entity.
Most people build companies that don’t succeed them. Once they pass on, the company dies with them. If you wish to build a company that will succeed you and continue for generations…with a system that runs itself, give it a name that will move with it onto becoming a household name.
Having a company with a business name rather than your own name will put your business in better position with clients. Most clients and bodies feel more comfortable doing business with a company, rather than an individual. A company with a brand name depicting its services is perceived as one with structure.
Honestly, clients don’t want to see your face or know your name, it’s not a beauty contest. They want results.
Ability To Identify The Challenges Of Clients
If your clients had the answers to everything or could help themselves, they will not come to you. A candid reason a client might come to you for coaching is because they need some guidance to help them scale through some stumbling blocks obstacles that are in the way and stopping them from attaining their goals.
Your first job as a coach or service business owner is to identify the problem that brought your clients through the door… and how your service can help solve it. Identify your clients challenge, worry and frustration on the premise of fear, uncertainty and doubt- the FUD factor. Your main focus as a coach is to empower your client through potent questioning techniques that will help change their behavior and shift their perspective on reality.
Once there is a shift in your client’s perspective, their views on life and their problems become different – and this will further help influence the stance they take in relation to the challenge. Your client will become empowered, more resourceful and optimistic towards the problem.
Your ability to do this gives clients some confidence that they are at the right place and can trust in you. Their minds are more open and receptive to what the solutions you will proffer. At this level, your clients are stuck, they see you as resourceful and want to hear the next thing you have to say.
The job is halfway done, and trust me, they will leave with a light heart and get the news out. After this, you can relate it to your services and the problems your business helps solve.
Have A Step by Step For Clients To Work With
A lot of coaches are so confident in their methods that they lump information on clients without any concrete steps to work with. Most coaches believe that their methods are easy and failure proof, hence, every client should be able to deal.
You believe that shooting out information sporadically on the client will help them attain faster results. However, this works against the client instead of working for the client- leaving a negative Impact on the client’s success and the result you get. You totally forget that your clients have other issues to deal with in their daily lives, families and what not- with your additional information to process.
We have discovered that for something to occur there has to be some action. If you take the wrong actions, you get wrong results. In this case, we are dealing with too many actions fed to the clients with no distilled steps in view.
The client becomes overwhelmed like a power circuit with excess voltage which could blow up at any moment. The client gets confused, develops a cold feet and shuts down. Then the cancelling of appoints begin, leading up to leaving your service.
It is important to explain your methods for solving your clients’ problems to them and give them world class support through it. Describe your solution or methodology for solving these pains. Distill your steps, name the process and trademark it. Allow them to work at their own pace, but offer guide all the way. This answers the client’s question on why they should do business with you rather than your competition.
Use speeches, workshops, books, webinars, PDF, podcasts and one on one meetings to tell you r clients what the can do to solve their problems.
There is a lot to talk about when it comes to the challenges coaches and service business owners’ face, just to maintain relevance to clients. We have put up some strategies which will come in handy on your job as a coach, consultant or service business owner. Regardless of your field, these steps are potent pointers to a successful and relevant career in your chosen market.
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