Your Marketing Plan for the New Year
Are you ready to make 2020 your best year yet as a business coach?
It’s time to dig deep where most coaches struggle: with a marketing plan.
Too many business coaches have a feast-or-famine cycle, where they kick their marketing into high gear when the clients dry up, and then let it languish the rest of the time–which only restarts the cycle over.
The trick is to have a consistent marketing program that is bringing in leads continuously–with a goal of closing two new clients per month.
This will allow you to grow sustainably over time, while mitigating the panic of inevitable client attrition.
Ideally, you’ll grow to the point where you can bring on associate coaches and build a true business coaching firm!
But it all starts with creating a consistent and effective marketing machine.
Today, I’m going to walk you through the exact steps I take with clients and subscribers to determine a) which marketing strategies you ought to be using; and b) the metrics you need to master to create a sustainable business.
Two Key Questions for Your Marketing Plan
First, I want you to ask yourself two questions:
Is your practice oriented around a particular local region or a particular market niche without regard to geography?
Do you have a marketing budget of about $2,000/month?
Depending on your answers, you need to focus on the following lead generation strategies:
I recommend that you start working through ONLY the lead generation strategies recommended for you here. Many coaches attempt too many lead generation strategies too quickly, and end up doing all of them poorly–leading to frustration and, ultimately, the demise of their businesses.
Many coaches attempt too many lead generation strategies too quickly, and end up doing all of them poorly--leading to frustration and, ultimately, the demise of their businesses.
Your goal is to go not wide, but super deep on the strategies you choose so that you really master them.
Target Conversion Rates
Once you’ve deployed the right mix of marketing strategies, you should be generating around 50 leads per month. That might sound like a lot, but it’s really not.
After years in the business, it’s exactly the right sweet spot for most solo coaches–as long as you convert leads through your sales process at the industry average, as follows:
- Make 400 dials per month to both new and past leads–those who have downloaded a lead magnet from your website, responded to a piece of direct mail, or have been referred to you by a colleague or strategic partner. With a 10% conversion rate on your dials, 40 of them should turn into Silver Bullet calls.
- Out of those 40 Silver Bullet calls per month, you should get a 20% conversion rate to eight Complimentary Coaching Sessions.
- Of those eight Complimentary Coaching Sessions per month, aim for a closing rate of 25%–which will give you the aforementioned two new clients per month!
Want to learn more about the lead generation strategies I’ve suggested above? Download our FREE ebook, Secrets of a Business Coaching Rock Star, with a whole section on lead generation for beginning and growing coaches alike. Don’t miss it!