By Alex Berlin
About 90% of the calls I have with users inevitably turns into subscription businesses and how a coach/trainer/mentor can leverage platforms to offer this. Since we talk to coaches all day, every day — we have some good insight on this topic and how to make it successful.
First, let’s define the different categories:
One time offer
This is an opportunity for an individual to pay for a one-time analysis or feedback opportunity. We’ve seen this a lot over the years and quite honestly aren’t fond of this model. Why? This doesn’t serve the coach well. How many times do you think the same person will continue to sign up for a one time offer? I’d be surprised if you get them to come back more than once. This method doesn’t give the coach the opportunity to earn as much. Second, it doesn’t serve the client. They are very unlikely to improve from a one-time session.
This is similar to the one time offer — but the way we see it, this doesn’t extend coaches earning power. While it’s cool and may extend your reach, you’re exchanging time for money which is what we do for in-person sessions. However, there are great tools out there for this and I think eventually it will be something everyone gives a try.
Selling access to content
This is something that has been around forever, but now with a new delivery method. From books, DVDs, eBooks, access to website libraries and now something that is more interactive, such as what we have today. When it started to get easier to get your content out there about four to five years ago, we heard a lot of people talking about wanting to do this. This is a great option if you have a production team, marketing manager, account manager, sales associates and potentially one assistant. If you don’t have the proper team you need, then my experience says you’ll put in a lot of work and not get anything in return.
This can come in any combination of in-person and online — or no in-person at all — but in my opinion, it is an option that any coach/mentor/trainer can execute on. You can choose the program yourself, and there are a lot of coaches we know doing an amazing job with this. However, most offer at least one face to face session a month with practice plans, or they simply have a video intro with the rest of the relationship being managed online — it works really well. It works well because the client wins and the coach wins in this format. As the coach, you can offer whatever program you want and you get to set the ground rules. In the end, the client gets coaching and they get the coaching that can actually help them improve.
Based on my summary above, you can most likely guess which direction I steer almost all of the coaches I talk to. We believe in the coach-athlete relationship here at CoachNow, and we believe in helping people improve faster. But more importantly, so many coaches can execute on this if they just offer something and create recurring streams of income. CoachNow works great for offering this type of program. The obvious next question is, how do I do this?
We have it mapped out for you.
- Know what kind of program you’d like to offer – Make it a coaching program, not a one time purchase. Our suggestion would be to niche this out. Ask yourself — What are you best at? What can you offer that they can’t get anywhere else? How much extra cash are you hoping to make? Are you going to offer face to face time? Will you be putting together a practice or nutrition plan? How much time are you going to offer and how quickly will you respond? Will you have different tiers of engagement available?
- Gather your tools – Once you know what, then start putting together resources that you can easily and quickly pull from. Leverage the CoachNow library by tagging that content so that you can simply pull it into the space you create for your client. Check out our templates tool where you can set up a bunch of posts in a certain order to use when you create a space for the client.
- Offer a pilot or beta – People always respond better when space is limited. Plus, you might not know how many people you’ll be able to take on. People love being in pilot or beta groups. You likely already have people you work with on a regular basis, so give them first dibs on this. They’ll appreciate it!
- Decide how you’ll charge – Please don’t overthink this part! So many coaches think they need automation but you don’t even need to think about automation when you are getting started. You can send an invoice via PayPal, Square, Stripe and many more. The best part? You don’t have to pay CoachNow any revenue share. Once you scale, then you can automate.
In short, although it feels like there is a lot to this, it can be made really simple and effective. Offer a beta or pilot group, set up the program, charge clients (keep it simple), and run the relationship inside of CoachNow.