Freebie's DO Work...IF Done Right
I keep hearing coaches saying that giving your coaching away doesn't work, when in fact that is the ONE greatest thing you can do.
Why do coaches say it doesn't work?
Well, most have been doing it wrong, and to the wrong target market.
It's easy to get people coming by the hundreds to get free stuff. The problem is: are they the RIGHT market.
As a business coach, and coach who coaches coaches, I've found that when I'm targeting THE WORLD, most of the people who respond to my freebie are people who can't afford my services, or at least PERCEIVE they can't. Most are there to absorb what they can for free...and guess what?....that's OK by me....as long as I've got my system set up so that it isn't wasting my time.
But that is why most coaches say it doesn't work. They are wasting time, LOTS of it, giving away their services for free...to the wrong market. And, when done that way...it doesn't work.
So, what does make it work?
Here's What Makes It Work
Let's back up a minute, and look at how people buy, develop a strategy that does work when you approach them THE WAY THEY BUY, and then narrow in on the RIGHT market...and you'll find that "giving away your services" the right way to the right people is THE KEY to successfully marketing your coaching.
I'm always astonished when people say it doesn't work, but it is THE THING that is working the best for me and for coaches I work with....when done right. All of those saying, "It doesn't work," just don't have a clue, or, at best, it was one of the things that just didn't work for them. Good luck to them. Hopefully they do have things that do work for them.
People Buy ONLY From People They Know, Like and Trust
People buy from people they know, like and trust. Therefore, the best way to get them to know you, to like you, and to eventually trust that what you say does work, is to give them a sample, give them a taste. Trying to go straight for the sale is a recipe for failure...until you've laid the groundwork.
Build a Marketing Funnel
Build yourself a marketing funnel. It looks like this. Imagine a funnel. At the top, where it opens up to the world is where you reach out into the world. It is the largest part of the funnel, and OPEN to the world. Your job is to reach out into your NICHE market, not into the whole world, and offer those that are passing by an opportunity to take a sample. If you are reaching out to them talking about their pain, in measurable ways, you will get their attention and they will want to take that sample. In fact, if you build a powerful, compelling, core marketing message they will be coming to you instead of you having to reach out to them.
In any case, as they take that sample, you have just stuffed them into the top of that marketing funnel. Those people are now qualified, interested prospects. (Warning, if you've reached out to the WRONG market, they may perceive they can't afford you, and may even be extremely hard to convince otherwise. Just think about that the next time you are face to face with someone who says he can't afford you. I know....I know...there are sales trainers out there that will tell you that you can overcome an objection....and, to a certain extent that is right. However, let's change your view a bit here. If you are reaching out to the RIGHT market, they are less likely to even have that objection, and then when you give them the RIGHT message they will move forward. By choosing the RIGHT market you will find that more and more will respond...and that is the key...keep measuring your response rates, and improving. By changing your marketing message, and aligning it with the RIGHT market you will see your response rate go through the roof.)
Back to our marketing funnel. I'd like for you to draw out a funnel on a piece of paper. Then draw horizontal lines, dividing the funnel into 3-4 separate areas, each further down the funnel.
What this represents is that at the top is your "first touch". Your job is to build interest, build rapport, get them to like you and trust you step by step. Each step down the funnel you will have fewer people as they fall out of the side of the funnel, but those that stay in the funnel, moving down to the next level are MORE interested, and like you and trust you even more than those further up the funnel. Get the idea.
This is all built around building on the getting to know you, like you, and trust that you have something that really works for them. Another thing I want you to pay attention to is "how many people actually move from layer to layer." In other words, if you lose everyone in one layer...you just did something wrong. You didn't build them further and you lost connection with them. That should tell you something...whatever it was you did there was WRONG.
Also, pay attention to what IS working. In other words, you are likely to see that some layers have a really good conversion, moving people on down, while others don't. You just learned what is connecting....build on that.
Each layer should follow the marketing philosophy, AIDA,
- Attention - Get their attention first, otherwise they won't even read the rest. Use your powerful CORE Marketing message to get their attention.
- Interest-Build their interest in what you have to say. Keep building around your core marketing message.
- Desire-Turn that interest into a desire, a real compelling, gut wrenching NEED to talk with you, or get more information from you. In this case, a real desire to at least take the next step down your funnel. Don't go too fast. Trying to sell too early will lose them. They will drop right out of the funnel.
- Act - Call to action. If you don't ask them to do what you want them to do....they won't. So always ask them to do what you want, and, again, make it compelling. In this case, the only thing you are asking them to do is to take the next step in your funnel, not to BUY.
Marketing Funnel Structure
The marketing funnel is typically structured
- Step 1-- Giveaways at the top - articles, maybe a speech to an organization. The goal is to build interest and desire to take step 2.
- Step 2 down into funnel - typically requires more commitment. While in step one get them to sign up, give their contact information to get emails, a newsletter, or come to a free seminar or teleconference.
- Step 3 - Even more commitment, usually it starts to cost a little. Examples could be a low cost e-book, or low cost teleseminar. At the end of it you will make a special offer only to this group, the next step into the funnel with a discount so that this group gets a break over those coming directly to that step. Price could range from $9.95 on up to $50 area.
- Step 4 - More commitment in time and dollars. Could be a one-time seminar (Price around $50-$100), or a seminar over several weeks ($100 to $250). It could be an "Intro to coaching" where you have 10-100 people attending over 3-4 weeks ($100 to $250). It could also be a bigger e-book ($75 to $100), or written information captured from a live seminar.
- Step 5 - Coaching (one on one), or whatever your end result is to be, at your final price.
These levels and prices aren't cast in stone. Your funnel is to lead people through the process of getting to know you without risk. Each step requires more commitment (more risk) in price and time. The key here is: IF you have provided value, LOTS of it, at that level, and IF you have encouraged them to want more, COMPEL them with your core marketing statement and VALUE statement to want more, then they will want more. And, yes, you will lose people in every step, or at least there will be some that don't take the step right then and there, but might be sticking around where you can get them back into the funnel for the next time.
Although you will lose people at each step, the percentage of those that go on to the next step will continue to be higher and higher at each step.
One version of this approach, when used for direct mail is actually achieving 20% to 70% appointment setting rates with large corporations.
But, as I said at the beginning, developing a POWERFUL core marketing message, reaching out to the RIGHT market, is the key. Another key point is: plan it, do it, measure it, then go back and improve that response by: changing your power core marketing message, and watch the improvement. Once fine tuned this is a KILLER business building approach...even though there are those that say it doesn't work.
Do you want to learn more about how to increase your coaching businesses? I have just completed my brand new guide to coaching marketing success. You'll also get a free invitation to join a mastermind group of other coaches as they build their business. Hear what works and doesn't work.
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