Nov 30

Building a Profitable Coaching Business Online

As a coach, you have likely given a lot of advice to your clients on various topics such as happiness, health, entrepreneurship, and parenting. Now it's your turn to seek advice on how to grow your coaching business, improve your services, and increase your impact.

But before we dive into that, let's take a look at the current state of the coaching industry. This will help you determine whether expanding your business is a viable option in the first place.

The coaching industry has experienced significant growth over the past few years, and this trend is expected to continue. Coaching has become a popular and lucrative occupation. On average, life coaches charge $31 per hour, while executive coaches can charge as much as $250 per hour.

And guess what? Online coaching is also doing quite well. So, whether you're an experienced coach with a strong client base or a new professional, here's an idea: start selling coaching online! The business opportunity is real and significant.

In this article, we'll provide actionable tips on how to sell coaching online. We'll discuss how to build an online coaching business using LearnWAB. This will be a place where you can offer real-time coaching, self-paced online courses, and other useful resources for your coaching clients.

The Benefits of Selling Coaching Online

Perhaps you still don't see the benefit of selling coaching programs online, especially if you already have a successful business with existing clients. However, here are some arguments that will make you reconsider and get on board. 

Wider Outreach
There is a limit to what you can achieve offline when it comes to growing your coaching business, even if you have been in the industry for a while. Selling coaching services online is a reliable method to reach a significantly larger audience, promote your coaching services, and expand your client base.

Furthermore, many individuals today are eager to grow personally or professionally, but they often lack the time to invest in their development. They may be too busy or unable to find a coach they resonate with in their local area. This hesitation leads them to think twice before committing to in-person coaching, which involves the inconvenience of commuting.

Online coaching eliminates this barrier, enabling more people to receive excellent coaching from the comfort of their homes.

Affordable Coaching
People seeking coaching services are looking to make a positive change in their lives. However, change takes time and doesn't happen overnight. It will be a while before your clients develop new habits, adopt a new mindset, and begin to see tangible results. Coaching is a lengthy process, which can result in high costs for some individuals.

By offering coaching services online, you can combine self-paced courses with real-time coaching sessions. This approach also allows for lower operating costs, enabling you to offer more affordable prices. Additionally, online coaching eliminates the need for clients to commute, further increasing the overall affordability of your services.

Recurring Passive Income
Selling coaching online is a great way to boost your income and create a recurring source of passive income. By creating your online academy, you can continue to generate revenue from coaching courses that you only need to build once. However, it is important to regularly update your courses with the latest event videos and other learning materials to ensure they remain valuable, relevant, and fresh.

Greater Impact
It's important to remember that all types of coaching are intended to bring about positive change in a client's personal or professional life. If your motivation extends beyond money and you have a desire to make a positive impact, then online coaching is the way to go. Let's face it, how many face-to-face clients can you engage with in a single month? Online coaching, being more affordable and accessible, allows you to reach and improve the lives of more people than you could ever do through offline work.

Establish Yourself as an Authority
Selling coaching online is a powerful marketing strategy that can help establish you as an authority. This strategy is connected to reaching a wider audience, which in turn can lead to gaining more followers. By creating an online coaching offer, you demonstrate an extraordinary commitment to your profession and a passion for serving your clients. This approach effectively showcases your expertise and gives you a competitive edge.

Strategised Coaching Services
You don't need to view an online coaching service/course only as an alternative. Online coaching can effectively complement in-person coaching. In other words, you can continue working full-time with your offline clients. Through your online academy, you can offer them additional material that they can access for life, such as eBooks and recorded events. This is a highly flexible solution if you don't want to change your priorities and prefer to primarily work offline.

How to Design Something That Sells

Time to get straight to the point and show you how to create and sell coaching online. By following these 6 steps, you can finally start online coaching, sell your advice and make an impact within your community.

Step 1: Target Your Audience
All entrepreneurs, including coaches, must conduct audience research before making any changes in their business. Audience research is the best way to understand your target audience. If you have been in the coaching business for a while, you probably already know your clients' profiles. However, if you are new to the industry, pay attention.

Profession, age, family status, and income are all essential demographics to consider when creating content for your online course and setting the right price. For example, Generation Z prefers social learning. This means that you should focus on initiating online discussions and group activities.

Social media is the best platform to search for this information. Join relevant groups to find out what your prospective customers talk about, what their pain points are, and what they want to achieve. You can also create a small questionnaire for each prospective client to gradually collect information and gain a clearer understanding.

Step 2: Define Your Objectives
Next, you need to define the learning objectives for your online course (or courses). A learning objective is what clients should be able to do after completing the program. Essentially, they are your Unique Value Proposition, providing clients with a reason to join your online program. Learning objectives should address clients directly and be brief, specific, and realistic.

For example, if you're offering coaching on time management, your learning objectives should be as follows:

After completing the coaching program, you will be able to:
- Work efficiently and productively.
- Overcome distractions and procrastination.
- Optimize your schedule and prioritize tasks.

Step 3: Pick an all-in-one Course Creation Platform
If you are a coach looking to design and develop your own online coaching services, LearnWAB can be your perfect partner. LearnWAB offers an all-in-one course creation platform that allows you to create and sell coaching programs online with ease.

LearnWAB can also support your marketing efforts through features like social media marketing, SEO optimization, affiliate marketing, and email marketing. By leveraging these strategies, you can promote your online coaching program, expand your reach, and attract new clients.
In addition to the platform's features, LearnWAB offers guidance and resources on how to design an effective online coaching program that sells. They emphasize the importance of targeting your audience, defining clear learning objectives, and selecting the right content types to engage your clients.

Overall, LearnWAB provides the necessary tools, features, and knowledge to work with coaches in designing and developing their own online coaching services. With their user-friendly platform and comprehensive support, you can turn your coaching expertise into a successful online business.

Step 4: Populate Your Online Coaching Course With Engaging Content
- Video: Videos are an essential addition to any online course. They help you explain complicated concepts and provide examples. Most importantly, they add energy and liveliness to your course. You can either record brief videos from scratch or repurpose existing recorded events. If repurposing, make sure to break the material into smaller, ideally 3 to 7-minute videos.

- eBooks and slideshows: Another type of content to include in your coaching program is eBooks. eBooks accommodate visual learners and those who prefer to learn while commuting. Similarly, you can create slideshows as an easier-to-consume learning resource.

- Live sessions: Live sessions are a crucial component of your coaching program. Whether conducted one-to-one or in groups via Zoom, live sessions allow for more efficient communication with clients and evaluation of their progress. They also serve as excellent ice breakers and help build rapport with remote clients. Live sessions can take the form of a mastermind group, a webinar, or any other event organized as part of your coaching program. You can even allow clients to invite a friend to join for free, creating more buzz about your academy and attracting more clients!

- Self-reflection: A must-have element for any coaching program. Self-reflection provide deeper insights into your clients, allow you to define their personal coaching goals, and introduce a reflection journal to enhance engagement along their transformational journey.

- Discussion groups: Social learning, also known as collaborative learning, is of utmost importance. It occurs through knowledge sharing and thought-provoking discussions. Its major benefits include enhanced knowledge retention and learner engagement.

Step 5: Create Your Sales Funnel
Now that your course is ready, it's time to build a sales funnel. LearnWAB allows you to create a fully integrated funnel with a professional-looking landing page, even if you have no experience in web development or coding.
With the funnel, you can:

- Introduce yourself: Create a video where you briefly introduce yourself, discuss your qualifications, and share your key motivations for joining the coaching business. We recommend using video instead of text as it provides a more personalized approach and gives clients a better understanding of your communication style.

- Provide a preview of the courses: It's important for clients to have a glimpse of the courses available before making a purchase. In addition to the course curriculum, include a short video or a quick slideshow to give them a taste of what the course offers.

- Include social proof: Reviews from satisfied clients are crucial for your coaching website. They add credibility and build trust. Don't forget to ask each client to leave a testimonial once they complete their coaching program.

- Offer a lead magnet: Don't let site visitors leave without getting to know you better. If they leave without any engagement, they are unlikely to return. To entice them, invite them to download a free resource, such as an eBook, or offer a free consultation session.

How to Promote Your Online Coaching Course

To start your online course business, a significant amount of work needs to be done both online and offline. We offer a wealth of advice on how to launch an online coaching business. So, without wasting any more time, let's explore how to promote and sell a coaching program online.

Social Media Marketing
Social media marketing is a highly effective strategy when consistently implemented. To sell online coaching, follow these small, careful steps and you'll soon see results:

- Social media and engage in relevant groups within your niche. Share posts, short videos, and infographics with quick tips. Keep your target audience in mind and focus your efforts on the platforms they are most likely to be on. For example, if you're targeting solopreneurs and small businesses, LinkedIn would be more suitable than TikTok.

- Ads. Paid advertising can accelerate the growth of your coaching business compared to organic traffic and other content marketing tactics. Given that Facebook is the most popular social media platform, it's recommended to start your ad campaigns there.

SEO Optimization
Optimizing your academy's website for search engines can help increase online visibility and reach a wider audience.

Here are a few SEO elements to focus on:

- Name and URL: Choose a name for your academy that reflects your offerings and is easy to remember. Keep your course URL and landing pages brief and descriptive without unnecessary words.

- SEO title and meta description: Each page in Google search results has a title and a brief description. Users decide whether to click on a page based on these. LearnWAB allows you to customize how your course appears in search results by creating an SEO title and meta description for your website.

- Images: Choose small or compressed images and provide brief descriptions and alt-text. This helps Google's crawl engine discover your page and benefits visually impaired individuals using screen readers.

- Keywords: Incorporate relevant keywords throughout your website, especially in headlines and subtitles. However, avoid overusing them. Remember to maintain a human tone to connect with your audience.

Affiliate Marketing
Affiliate marketing is a powerful strategy that can greatly benefit your business. It works by offering a commission to third parties who promote your business or product and bring you referrals. These third parties, also known as affiliates, can be your existing clients or even coaches who specialize in a similar niche. By referring their clients to you for further coaching, they not only help you expand your customer base but also earn a commission for their efforts.
Affiliate marketing is a win-win situation for both you and your affiliates. It allows you to tap into their network and reach a wider audience, while they have the opportunity to earn additional income. This marketing strategy is particularly effective in the online coaching industry, where the demand for coaching services is constantly growing.

To implement affiliate marketing effectively, it is important to establish clear guidelines and agreements with your affiliates. This includes defining the commission structure, tracking referrals, and providing promotional materials. By creating a mutually beneficial partnership with your affiliates, you can leverage their influence and expertise to boost your coaching business.

Email marketing
Email marketing remains an effective communication strategy for engaging current clients. It allows you to inform clients about upcoming courses and events, share current offers, and provide interesting news. Additionally, email marketing is an effective method for reaching out to prospects.

Social media plays a crucial role in building and expanding your email list. You can target new clients through paid ads or organic methods. Networking and word-of-mouth marketing can also help you build your mailing list, especially if you are a new professional.

Once you have built your mailing list, use an email marketing tool to set up automated email sequences that reach your audience at the right moment in each step of their buyer's journey. Most email marketing platforms offer email templates and editing tools, making it easier for you to create engaging emails.

Networking is a crucial aspect of expanding your client base and staying informed about the latest news and developments in your coaching niche. To enhance your network, consider joining relevant groups and communities on social media platforms. Engage with like-minded individuals, participate in discussions, and share valuable insights. Additionally, attending or organizing virtual conferences and events provides excellent opportunities to connect with industry professionals and potential clients. Lastly, becoming a member of an official coaching organization through certification can establish your credibility and open doors to networking with other coaches.

Expanding your network through these strategies allows you to build relationships, exchange knowledge, and stay updated on industry trends. It positions you as a knowledgeable and connected professional, increasing your visibility and potential for attracting new clients.

Why Choose LearnWAB to Build Your Coaching Business?

LearnWAB enables you to create more than just a business. With LearnWAB, you can build a learning hub where your clients will have access to all the necessary tools to enhance their lives in any way they require.

Here are some features that you will love:

- User-friendly user interface (UI): With LearnWAB, you can easily create high-quality courses and a website, with many options for customization. The platform is also very intuitive and easy for learners to navigate.

- Engaging content: Everything you need to keep boredom at bay: interactive videos, eBooks, badges, quizzes, and more! Activate the Daily News Live Newspaper to offer new tips and advice to your clients from reliable sources of your choosing.

- Certificates: Offer clients an extra incentive to finish coaching and earn a valuable credential. Make it optional if you want to use it as a tool to upsell and give clients two pricing options.

- Social learning tools: LearnWAB features a built-in community where you can start discussions and polls or create groups. This feature is essential to engagement and enhances the sheer quality of your coaching service!

- Drip-feed: Set the pace for your clients to ensure they are taking in all the information and valuable advice you’re sharing. A must-have option for asynchronous courses.

- SCORM compliant: LearnWAB supports SCORM files, so you can easily transfer your learning activities on the platform.

- Live training sessions: With our Zoom integrations, you can host live one-to-one or group coaching.

- Copyright protection: Add watermarks to your videos to prevent competitors from using your content.

- Flexible payment options: Allow your clients to pay with their credit cards one-off or in installments, safely, using one of our payment gateways. Sell coaching per course or bundle, create subscriptions, and offer refunds.

- Affiliate marketing: LearnWAB allows you to create an affiliate marketing program to bring more clients your way via third parties.

- SEO optimization: Essentially another marketing tool, SEO enables search engines to spot your courses more easily. You can optimize your courses for search engines in a few quick steps.

- Built-in survey tool: Using our Multi-Purpose Form Builder, you can create eye-opening surveys to understand your clients better and enhance your offerings.

Keen to build a profitable coaching business online? Contact us now!