How to “Productize” Your Coaching Business for More Freedom, Fortune & Fun! by Jen DeVore Richter
Are you stuck trying to figure out how to take all of your years of experience and knowledge and present it in a way that makes your prospects and clients say, “YES! I want that!”
Or have you ever wondered what it would be like to have your own brand that stands out from the crowd? Makes your competition irrelevant and turns your prospects into raving fans?
Well, you’re about to discover exactly how to make the selling process so much easier and way more fun…
As a coach, you need to be dead set on carving out your unique niche in this amazing and growing industry. Your success depends on it! With a community of true believers supporting your business, you become a highly trusted leader and influencer.
You do this is by “productizing” your knowledge.
What productizing means is taking your coaching assets and knowledge and turning them into real, tangible, and physical products and experiences your clients will clamor to buy!
Forget the tired concept of chasing after clients one at a time only to face rejection after rejection. There is no need to keep doing what doesn’t work especially when the alternative is so much more fun and lucrative.
Whether your dream is to grow your speaking business, sell more as a coach or both “productizing” is the answer.
Here’s the story of how I went from best-kept secret to sought-after expert by turning my business into a brand called Boss Women Rock™ and taking the intangible (coaching) and making it tangible.
Life Before Coaching
I’ll never forget the moment I picked up the phone on my desk, said: “Kennedy Space Center, Marketing- this is Jen, can I help you?”
And Buzz Aldrin, yes, The Buzz Aldrin said, “Hi Jen, I’m calling to chat about my upcoming book launch.”
See, before I was an entrepreneur I worked as a Marketing Executive for some pretty big brands including NASA at Kennedy Space Center.
I also worked for ABC TV and a Fortune 50 Pharma Company, but working for NASA was my “If I can make it here, I can make it anywhere” job.
Hanging out with astronauts, celebrities, and going to space shuttle launches remains one of the highlights of my life.
But, the truth was behind the glitz and glam, I was pretty miserable.
I was working 60-70 hours per week and the government pay was ridiculously low!
So, I gave it all up to regain my freedom and became an entrepreneur. Wow, has it been a wild ride for the last 15 years!
I’ve owned a successful high-end photography studio, owned a design and marketing boutique with a small shop at the beach in Florida. And even helped build a seven-figure earning creative services marketing agency from scratch.
But, the business that has given me true meaning and purpose in my professional life is coaching and speaking.
I know that this is my calling.
In less than a year of launching my coaching business, I’ve doubled my income, dramatically increased my profit margin, and am finally working with clients that love me and pay me what I’m worth.
The strategy I implemented to give me the edge and the secret to my success is productizing.
I’ve taken my master’s in business, 23 years of marketing and entrepreneurial experience, and built a fast growing community. I now have multiple streams of income, and I am excited and energized about my business every single day.
You can do this too!
My Step by Step Process to Productizing Knowledge and Experience
Audience + Offer + Action = Freedom, Fortune & Fun!
Audience – Identify Who You Want to Serve
As a business coach, you already know that the #1 key to marketing success is to clearly identify your ideal client or target market. And have messaging that enters the conversation taking place in their mind. Your positioning needs to be on-point and clearly communicates that you understand the problem they face and the transformational outcome they desire and are the exact person to give it to them.
In order to turn your knowledge into products or experiences that can be monetized, you must first know who exactly you’re creating it for.
The kiss of death here is that you would market your products to “anyone who _______________.”
My business began to explode when I got really narrow and specific on who I serve. For me, I have two avatars: the first is a woman business owner and the second is a coaching professional (business coaches, life coaches, relationship coaches, health coaches, and money coaches.)
For women business owners, I created the Boss Women Rock™ Client Attraction Program because I recognized a need in the market for an affordable DIY marketing solution. Boss Women Rock is a membership program. After conducting approximately two local workshops per month for an entire year and speaking to hundreds of local business owners, I recognize that the reality is that most business owners don’t have thousands of dollars per month to spend on coaching or done-for-you services.
Productizing a Membership Program
Instead of jumping ship from that market and focusing only on high ticket clients, I decided to create a program that was under $1,000 but provided amazing value without much time commitment from me. This is a program that allows me to impact the lives of hundreds of women without spreading myself too thin.
I sell this $997 program one too many at “speak to sell” events, conferences, and workshops or online via webinars. I can also use it as a downsell if a prospect can’t afford my private program.
I’ve even recently developed a professionally designed physical box that includes the course contents in a welcome pack so new members walk away with a luxurious and beautifully branded package in-hand. The box really helps make the intangible (an online membership program) tangible and real.
New members often send me messages exclaiming about how much they love the welcome package. It also makes for great social media photos to take pictures with new members.
Productizing a Coaching Program
For the coaching market, my offer is the Rising Influencer™ program, which ranges from $3,500 to $5,000 and up for done with your services. I saw a need in the coaching market to help coaches develop their positioning & profit strategy. Often times, professional service providers like doctors and lawyers who speak as a way of marketing their business join this program as well. Rising Influencer fills the need of helping them craft their brand message, signature program, and offer among other deliverables.
The thing that these two offerings have in common is that they both follow my Rising Influencer Profit Process™.
The difference is not in the process, but in how much access to me they get. The $997 program has no private access, the $3500 and up program is private consulting and implementation.
Before I narrowed my focus and created a brand around Boss Women Rock, I was working with all types of clients in many different industries. This resulted in confusion and unpredictability of outcome and results both in my marketing and client services.
Once I narrowed my focus I developed a values statement, mantra, and messaging specific to attracting my ideal, perfect clients.
The results have been truly astonishing! I fill my workshops and programs with ease now and even have an application process for accepting new clients.
Other sources of income I’ve created in addition to my private clients include books, events, and t-shirts.
Now, you may be thinking that you don’t have a “brand” to monetize or that you don’t want to step into the spotlight. However, the secret is to give your clients or members a new identity and make them the star! You’re just a guide on their journey.
Instead of my members being burnt out and broke business owners, they are now Boss Women Who Rock!
Instead of my coaching clients being underpaid best-kept secrets, they are now sought-after experts called Rising Influencers.
It’s a lot of fun and very rewarding to have a solution that fits their exact needs.
You can see program details at www.RisingInfluencer.com
Offer Map Out Your Proven Process & Product
Identifying your target market and narrowing your niche for the product is (in my opinion) the hardest part of the productizing process.
The next step is a lot easier.
Step two is mapping out your proven process to gain a competitive advantage.
This is an important step because you need to solve a very specific problem for a very specific person and you will need a very specific process for a variety of reasons.
Some of the top reasons for creating a branded process include
- Raise prices without losing clients
- Expand your product lines and increase revenue with existing clients
- Cut costs and unnecessary expenses
- Increase client loyalty
- Garner exposure and awareness
- Stop discounting madness
- Eliminate price shoppers
If your goal is to
- Get predictable results for increased client satisfaction
- Earn higher profit margins
- Make your competition irrelevant
But, the problem you face is lack of consistency in message and deliverables, then you need a branded process.
Your branded process becomes the roadmap for the step-by-step journey your products and services will take your clients on.
I call my branded process the Rising Influencer’s Profit Process™.
It has five pillars
- Message – generate more leads through powerful magnetic messaging
- Marketing – increase conversions through direct response marketing
- Offers – eliminate price shoppers & competition through irresistible offers
- Funnels – simple 3-step sales funnels to simplify acquiring new customers or clients
- Systems – increasing profit through systemizing & outsourcing
All of my books, workshops, programs, and client work follow the Rising Influencer Profit Process™.
Your clients want to know that you are a guide with an action plan and can make the business growth process as simple and painless as possible. Having a branded process proves to them that you have a plan.
Having a branded process also makes your competition irrelevant as you are now the only coach with your unique program! Your branded process is like your special sauce that can not be duplicated by anyone else.
Another benefit to having a clearly defined and branded process is that you can now create specific deliverables and get predictable outcomes to serve your clients.
Build your branded process around solving their problems so you can create the resources, tools, and systems they need to achieve success. If you do that, your business, profits, and impact with explode.
Monetization ideas for your productized coaching business include:
- Audio training
- Video training
- Online membership platform
- Group coaching
- Private coaching
- Done for you services
- Ask the Expert calls
- Facebook groups
- Linkedin groups
- Speeches and keynote programs
- Licensing programs
- Training programs
- Certification programs
They key is to bundle the offerings together based on the specific problem you solve and choose the solution that will garner the best experience and result for your client.
This process didn’t just work for me. Let me share a success story with you.
One of my clients who has successfully implemented this strategy is a money coach named April Caldwell. When April joined my Rising Influencer™ program she was struggling to monetize her coaching business to maximum profitability since it was a brand new program.
Within 24 hours of us creating her branded process and high ticket offer, she was able to earn back her coaching investment with me and sold her previously $250 program for $3500.
Now, she lands clients for $6000, turned her process into a book and is hosting a women’s empowerment conference as well.
This stuff really works!
Action – Sell the Darn Thing!
The next major step in productizing is to simply sell the darn product!
Here’s an example of how I took action and implemented for a product I was selling from the stage at one of my own events. Dan Kennedy actually featured my results and thoughts on this in an article for his infamous NO BS Marketing Newsletter in 2017.
In the summer of 2016, I was asked by a national custom homebuilder to present a series of personal branding workshops to local real estate agents in the state of Florida.
The company, D.R. Horton, needed to strengthen their relationships with realtors in the state and wanted to use workshops and seminars as an opportunity to provide value to the real estate agents and to strengthen their relationships.
When working with the marketing manager for D.R. Horton on a seminar program, we decided that a workshop on personal branding would benefit the real estate agents the most. So, I presented my signature Claim My Stage personal branding keynote program in three cities for them: Tampa, St. Pete, and Orlando, Florida.
This was an unpaid opportunity, but D.R. Horton was very receptive to me, making an offer from the stage to compensate me. This way, the company would not pay my regular keynote speaking fees saving them thousands of dollars. With their permission, I went to work crafting an irresistible offer and a value-packed package and program custom for the real estate agents that I knew they would absolutely love.
To design this value-based offer, I interviewed many real estate agents that I was either currently working with or was acquainted with and found out that information alone was not enough to help them transform their businesses. They would need support and advice after the event had ended.
The six-week group coaching program
So, I created a six-week group coaching program that was private to the real estate agents that decided to invest in the program.
In addition to the six-week group coaching program, I created a private Facebook group for the agents where they could interact with each other, share best practices, and ask me questions about any issues or roadblocks they came upon.
In addition, I included a copy of my latest book and tickets to a future live event in the package.
The value of the package was in the thousands of dollars.
When I presented the package to the audience at the end of my presentation, I explained the value of each and every single item that was in the package. I even included a blueprint they could follow to make the most of their investment.
Since real estate agents often work remotely, I included a checklist as well as a guide that could easily fit into their laptop case or handbag so they could refer to it wherever they were.
I thought of all of the different ways I could support them after the sale and built the package around that support so it was custom to them.
The crowd loved it! I was able to sell the package to approximately 25% of the audience members in our three-city tour, resulting in thousands of dollars in instant sales for my business.
After the event and the sales were complete, of course, I focused on delivering an amazing experience and outcome for each and every real estate agent. They loved the program and left me great reviews. In fact, many of them loved the program so much that they ended up just hiring my company to take them to the next level!
I sold the packages to the real estate agents on site only for $297 each. The in-person sales plus additional services purchased after the fact resulted in over tens of thousands of dollars in business for my company simply by hosting a workshop.
Many of the real estate agents are still on my email list and in my Facebook group and continue to come to my events, sign up for my programs and continue to purchase my additional offers.
Because I provided amazing value to the real estate agents and great service after the sale, I was able to give them what they wanted and needed to grow their businesses, but I was also able to create a new product that enabled me to grow my business as well.
Your Next Step
I hope after reading this article that you will take massive action and block time on your calendar right now to make time to work on your business. Just follow the 3 simple steps to productizing your coaching business.
Audience + Offer + Action = Freedom, Fortune & Fun!
Jen DeVore Richter
About Jen DeVore Richter
Jen currently is a highly sought after media personality. Her creative approach to business has been published in two co-authored books: Amplify Your Business: The Rockstar Professional’s Guide to Marketing Success and The Rockstar Professional’s 90 Day Action Planner. Her ideas were also featured in the internationally published Top 50 Marketing Secrets of Successful Women. To access Jen’s $108K Perfect PR Pitch Template at NO COST, please visit: https://jendevore.com/jen-perfect-pitch
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