Niche Markets - Prosperous Coach Blog

Archive for 'Niche Markets'

Is Coaching Worth Paying For?

August 3, 2010 | Read 10 comments and join the discussion

There are still people out there who don’t understand the value of coaching. Some define coaching the way Ambrose Bierce defined consulting: “To seek another’s approval of a course already decided on.” And some people think hiring a coach is like hiring a friend to listen to you.

But then there are people like Google CEO Eric Schmidt – the lead architect of the most successful business growth story in recent history. When asked to share the best business advice he ever received, he said “Everyone needs a coach.”

So, is coaching worth paying for? The answer seems to be: It depends on WHO you ask.

I think I know where you come out on this question, or you wouldn’t be staking your career on the power of coaching. But here’s my point: Draw your clients from groups of people that believe coaching is worth the investment.

So how do you find and connect with those people? The answer may not be obvious, but it is straightforward.

Choose a Niche Market Full of Seekers

Certain groups of people, because of who they are, will readily invest in their own personal and professional development. Here are three examples of niche markets that are full of seekers:

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Topics: Featured, Niche Marketing for Coaches

Do Your Next Coaching Clients Want What You’re Offering Them?

July 27, 2010 | Read 6 comments and join the discussion

I know you know what your current coaching clients want. But do you know what your prospects want? There’s a difference. Discovering exactly what prospects want from you is the key to enrolling lots of clients easily.

an offer with no takers So many coaches miss this, because they already know what they’re selling – their coaching services. It’s a natural way to think, but it’s also a classic marketing mistake. They try to sell coaching as the solution before they’ve even asked what the prospect sees as the problem.

You have a profound appreciation of the power of coaching, and that’s essential. But if it leads you to try to sell coaching, you may be setting yourself up for poor results. The basic law of the marketplace is supply and demand. You can supply all you want of something you think has value, but if there is no demand for it, it won’t sell.

That’s why established businesses do research before they launch a new product. I realize “market research” sounds pretty off-putting – technical, boring, expensive. But at its core, it’s just listening to people to find out what they want. What could be more coach-like than that?

I call this “listening to your market” – and you have everything you need to start doing it. To prove it, try these steps:

Continue reading Do Your Next Coaching Clients Want What You’re Offering Them?

Topics: Niche Marketing for Coaches

Topics: Featured, Niche Marketing for Coaches

4 Steps To Create A High Demand For Your Coaching

June 14, 2010 | Read 11 comments and join the discussion

If you’re honest with yourself, you know this. . . When most people prioritize where to put their hard-earned money, coaching is not high on the list. So why are you trying to convince people to buy it?

There’s a better way to get clients. I’ll lay out the four steps below, but it all starts with finding out what people will put their money into. And in order to find out what people will pay a coach for, you have to know which people you are talking about.

Trust me, there are plenty of people out there who are eager to invest in professional services for a specific purpose. Finding them, and finding out what they are after, is the art of target marketing.

I’ve seen over and over how the clients start flowing in when coaches target a viable coaching market. And the kicker is, targeting a viable market significantly reduces the amount of marketing your business needs. Why?

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Topics: Niche Marketing for Coaches

Are You Marketing Your Coaching To Seekers?

June 8, 2010 | Read 14 comments and join the discussion

Coaches are getting smarter. I’m meeting more coaches who know that the typical approach to marketing a coaching business doesn’t work well. They truly want great results, so they are using better strategies much earlier than I did in my coaching career. And it’s working for them.

That indicates the field of coaching is attracting more business oriented folks. And that means that more coaches will succeed, which makes me happy.

Insight about what makes a viable coaching market

Success in coaching comes from a combination of persistence, belief in self, genuine interest in people, and serving a market that will go the distance — a market full of people who are motivated to buy services for their personal and professional growth. I call them Seekers.

Are You Connecting with Seekers?

Recently a coach told me about her deep passion for coaching a certain group — moms. But, despite consistent hard work trying to attract enough of them, it’s not working. Prospects smile and show enthusiasm, a few enroll, but they only stay for a few months. So now this coach is ready to choose a more viable market. After all, why stay attached to a market that’s not abundantly fruitful, both in income and coaching experiences?

Here’s the thing. No matter how much you love the idea of coaching a certain group, if they aren’t seekers — not willing to invest — not much income will flow into your coaching business. It’s a hard fact to swallow. That old saying about leading a horse to water… Well, you can lead someone to coaching, but no matter how much you think they need it, if they won’t invest in the solutions you are offering, you won’t have enough clients.

Continue reading Are You Marketing Your Coaching To Seekers?

Topics: Niche Marketing for Coaches

Where The Coaching Clients Are

March 8, 2010 | Share your comment

Last Thursday I gave a presentation to recent graduates of Coach Training Alliance called Where the Clients Are. I wanted to give new coaches a sure-fire approach to launch a prosperous coaching business, so they can spend less time marketing and more time doing the work they love.

I call this talk “Where the Clients Are” because really, that’s what a coach needs to know the most: where to find the people who will gladly invest in their coaching. Of course the answer is not actually a place, it’s an approach that creates high demand for your coaching. It’s a way of understanding clearly who your most ideal coaching market is and what they want.

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Topics: Niche Marketing for Coaches