what are your coaching charges!
I am neither an established coach nor a well settled coach where my coaching sells on my name.
I don’t know why I am writing this post, because why people should read it? I can very well keep my experience with me without sharing.
However, I thought if my post can help at least one emerging coach to take a learning from my experience, I will assume my job is done.
When clients browse through your website they feel interested and appreciate the contents of your website. They get in touch with you for more details. So far so good.
When they come know about your coaching charges, example-your coaching charges are $100/hour – the prospective clients start dropping off.
As a coach, you must understand the client’s point of view, then you will be able to get the answer why you are not getting enough paid clients.
As fresh or as a beginner coach, charging by an hour is fallacy to step into a coaching world.
To understand ‘WHY’ behind this, it is very important to understand how people perceive price in their mind? How clients create value for coaching in their mind?
People compare like with like!
When they perceive your coaching charges as $100/hour, they compare what other things of their interests are available at $100.
It’s absolutely possible that the things they think about are nowhere comparable with your coaching. But, still for the people $100 is a value and they think is this actually worth it?
It’s quite natural and we can’t blame people for that. The reason is when they compare your coaching with things of their interests, they believe that things are tangible- they can see it, feel it – they know what they are getting it. On the other hand if you look at coaching – its intangible- you can’t see it, can’t feel it, you really don’t know what you are going to get in one hour. Moreover, you can’t compare one coach with other because no two coaches are identical.
The point to be noted here is when people perceive your coaching charges people starts thinking what else I can buy for that hourly charges. What it would give me worth if I buy that one hour of coaching /
They will have number of questions in their mind- are they going to achieve the results that they want to achieve? Are they going to get what they have come for? Or it is just going to get extended indefinitely? How long I will keep paying this charges again and again and again?
Let us think about the other side of it. Let us assume some people would overcome this questions and would sign for your hourly coaching session.
The study says, the client stays for 3 to 4 hours on an average, it means effectively 3 to 4 coaching sessions. Which means, the coach may not be able to deliver the desired value to client that has been promised.
Hence, as a coach when you are not able to get enough attention from your client – not more than 3 to 4 hours – it clearly means that your clients are not staying enough to get results.
If they are not going to stay enough to get the results, they are not going to give you testimonials. They are not going to refer you to others.
Ultimately, what it means that your clients are not going to stay enough with you, you are constantly going to search clients. You are not going to gain anything absolutely from your previous clients.
It will be difficult to sell further coaching and you getting established as a coach because your client has not got a result with you.
And, this is not because you are an incompetent coach but because in order to get settled in coaching business you have attached a value as a coaching fees and not clearly emphasized on the worth of coaching.