As a rule of thumb, when the general public buys a product or service from you, they enter your sales funnel. Statistics show that most often they will enter your funnel at the lowest priced product or service that is available to them. However, through effective marketing messages and communication, your goal is to guide your customers through your sales funnel so they’re eventually purchasing more expensive products or services.
When you add a coaching program to your sales funnel, it’s often your highest priced product or service. Make sense?
Let’s review 3 reasons why coaching is such a beneficial addition to your sales funnel:
#1 The broader your sales funnel, the more sales you could potentially earn from each customer.
You will have some customers who will start at the very lowest priced product and then proceed to purchase every other product along the way. By adding a high priced item like coaching, it will help you make more money from your valued and loyal customers.
#2 The broader your sales funnel, the more value you can offer to your customer.
Through the addition of a high end product to your sales funnel you’ll offer more value to your customers. They’ll be able to gain the maximum amount of benefit from your business.
#3 The broader or more diverse your sales funnel, the more entry points your customer has to choose from.
Not everyone will choose to buy your least expensive product or service. Some people will jump in and buy a mid-level product as a first option and still, others will buy your highest priced product without blinking an eye. So, when you offer a variety of price points and products/services, you ultimately provide more options for your customers.
It should be noted that a coaching program doesn’t have to be expensive. For example, you could offer various levels of your coaching program such as group coaching in addition to your one-on-one coaching option. This way, you can cater to those who aren’t able to afford your personal coaching program.
In closing, coaching really enables you to expand your sales funnel and to add more choices and value for your prospective clients and existing customers.
In the next post, we’ll talk about how you can add information products to your coaching program to add more profit potential to your business.