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Why You Need to Offer a Coaching Program Part 4

(This is the fourth of an 8-part series on offering some type of coaching program for your business).

Reason Three – Coaching Enables You to Add a High Ticket Product to Your Sales Funnel. (More Profits)

When people buy a product or service from you, they enter your sales funnel. Often they enter at the lowest priced product or service available. Through marketing messages and communications the goal is to move your customers up the sales funnel so they’re buying more expensive products.

Of course, you could also start out with higher priced products and downsell to lower priced ones. This is known as the inverted sales funnel.

When you add a coaching program to your sales funnel, it’s often your highest priced product or service. It’s your highest end product. There are a number of reasons why coaching is such a beneficial addition to your sales funnel:

#1 The broader your sales funnel, the more sales you can make 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. Adding a high priced item like coaching helps you make more money from these wonderful and loyal customers.

#2 The broader your sales funnel, the more value you offer to your customer.

Adding a high end product to your sales funnel ultimately offers more value to your customers. They’re able to gain the maximum amount of benefit from your business.

#3 The broader or more diverse your sales funnel, the more entrance points your customer has to choose from.

Not everyone will choose to buy your least expensive product. Some people will jump in and buy a mid-level product first. Others will buy your highest priced product. When you offer a variety of price points and products/services, you provide more options for your customers.

It should be noted that a coaching program doesn’t have to be an expensive product or service. And you can offer various levels of coaching. For example, group coaching versus one-on–one coaching. The group coaching option could be less expensive than the one-on-one coaching option.

In a nutshell, coaching enables you to expand your sales funnel and to add more choices and value for your prospects and customers.

Additionally, as we’ll discuss in Reason Number Five, you can add information products to your coaching program. This adds a lot more profit potential to your business

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