Guerrilla Marketing for
Coaches: Six Steps to a
Million-Dollar Firm
By Andrew Neitlich
www.CenterforExecutiveCoaching.com
andrewneitlich@yahoo.com
Cell: 941-539-9623
Four Quick Assessments…
• You can document a 510 X return on your
fees, or better, based on
the results you get
• You communicate your
value in a way that
shows a clear 5-10 X
return on your fees
• People in your target
market know you as
THE go-to expert, and
not just another
commodity service
provider.
• You make business
development your top
priority
The Harsh Reality of Coaching
• There are some great coaches out there and….
• The market is crowded, at least based on the commoditized way in which
most coaches position themselves. Thus, many coaches are frustrated and
not making the kind of money they want to make.
• Many coaches couldn’t market their way out of a paper bag -- due to lack
of skills, lack of courage, and the same unwillingness to be coachable that
they can’t stand to see in their own clients. In other words, having passion
and reading the book The Secret does not necessary lead to a good
business.
– Side note: ICF competencies are necessary but not even close to sufficient for
market success. Many coaches are therefore under the false and unfortunate
illusion that an ICF credential will translate to clients.
• Even with studies about the value coaching brings, many potential clients
still see coaching as “an expensive waste of time.”
• The solutions to these issues, which I will propose today and have used to
build my own firm, will not be palatable or possible for many coaches. Oh
well – all the more for me and for you.
Copyright 2013 ATN Associates LLC and The Center for Executive Coaching. All Rights Reserved.
Six steps to a million-dollar firm
1.
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Lay a solid strategic foundation
Use low-cost, high-impact tactics to get clients
Close engagements
Keep clients for a long, long time
Build a firm to enjoy lasting wealth
Create your million-dollar business plan
Lay a solid strategic foundation
•
•
•
•
Be more than a coach
Three requirements for ongoing success
Choose a profitable target market(s)
Understand the needs and develop valuable, complete
solutions
• Develop your compelling marketing message and
brand
Be more…
• Coach is only one
of many ways to
deliver your
expertise
• Why limit
yourself to this
generic,
commodity
activity?
Why not also be:
• Solution provider
• Go-to Expert
• Trusted Advisor
• Author
• Speaker
• Seminar Leader
• Thought Leader
Relevant Relationships
Three requirements for ongoing
success
SUPERSTAR!
CAUGHT IN
MIDDLE
DOOMED
Functional/Industry Knowledge
Choose a profitable target
market(s)
“I always wanted to be someone,
but now I wish I was more specific.”
– Lilly Tomlin
Issues being all things to all people:
- More expensive marketing
- Hard to reach specific people
- Generic, superficial solutions
- Illusion of unlimited prospects but
tiny conversion rate
- Hard to get word of mouth
- Hard to become the go-to expert
- Specialists can do circles around
you
Benefits of having a focused target market:
- Easier and less expensive to reach
people
- You can develop deeper, more valuable
solutions
- You may have fewer prospects but you
get more clients because your
conversion rate is high
- Word of mouth spreads because people
in the same target market tend to speak
to each other
- You can become the go-to expert in a set
marketplace
- Your prices rise as a result
Would you rather have 7 billion potential clients and 0% conversion or
250,000 potential clients and 1% conversion?
Choose a profitable target
market(s)
“I always wanted to be someone,
but now I wish I was more specific.”
– Lilly Tomlin
-
Industry
Function
Geographic
Demographic
Psychographic
Situational
Choose a profitable target
market(s)
“I always wanted to be someone,
but now I wish I was more specific.”
– Lilly Tomlin
- Use the 70/30
rule to avoid
stressing out
- 70% focused
- 30% open to
what you
attract
Understand the needs and develop
valuable, complete solutions
• Complete solution vs.
incomplete solution
– Is coaching a complete
solution?
– What other people and
solutions would 100%
solve the client’s problem?
• Does your solution offer
5-10X your fees in value?
• What is unique about
your solution?
Develop your compelling marketing
message
• Problem in
compelling, emotional
terms (Stop struggling
with….)
• Benefits
• Your proprietary
methodology or
approach
• Your edge: “Unlike
other….”
• Proof
• Low-risk call to action
that isn’t a free
consultation
• I help X to get Y
• I do this with…
(your proprietary
methodology or
approach)
• Your edge: “Unlike
other….”
• Proof
• Low-risk call to
action that isn’t a
free consultation
Develop your compelling Marketing
Message - EXAMPLE
Then one day, it seems, while the Plain-bellied Sneetches
were moping, just moping alone on the beaches,
sitting there, wishing their bellies had stars,
up zipped a stranger in the strangest of cars.
"My friends," he announced in a voice clear and keen,
"My name is Sylvester McMonkey McBean.
I've heard of your troubles; I've heard you're unhappy.
But I can fix that; I'm the fix-it-up chappie.
I've come here to help you; I have what you need.
My prices are low, and I work with great speed,
and my work is one hundred per cent guaranteed."
Then quickly, Sylvester McMonkey McBean
put together a very peculiar machine.
Then he said, "You want stars like a Star-bellied Sneetch?
My friends, you can have them . . . . for three dollars each.
Just hand me your money and climb on aboard."
Develop your compelling Marketing
Message - EXAMPLE
Then they yelled at the ones who had stars from the start,
"We're exactly like you; you can't tell us apart.
We're all just the same now, you snooty old smarties.
Now we can come to your frankfurter parties!"
"Good grief!" groaned the one who had stars from the first.
"We're still the best Sneetches, and they are the worst.
But how in the world will we know," they all frowned,
"if which kind is what or the other way 'round?"
Then up stepped McBean with a very sly wink, and he said,
"Things are not quite as bad as you think.
You don't know who's who, that is perfectly true.
But come with me, friends, do you know what I'll do?
I'll make you again the best Sneetches on beaches,
and all it will cost you is ten dollars eaches.
Belly stars are no longer in style, " said McBean.
"What you need is a trip through my stars-off machine.
This wondrous contraption will take off your stars,
so you won't look like Sneetches who have them on thars."
Develop your compelling brand
• Why are the following people so memorable
compared to their peers?
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–
–
–
–
Oprah
Judge Judy
Martha Stewart
Andre Agassi
Bill Clinton
• A good brand is memorable, valuable, unique,
and consistent – in every single interaction with a
customer or prospect
Develop your compelling brand Example
Use low-cost, high-impact
tactics
• The testing laboratory
• The most powerful tactic of all and how to do it
right
• Alliances to bring you a stream of business
• Expert status through information and by
educating your market
• Internet marketing tactics
• Leadership to build your credibility
• Be willing to be creative, especially to reach VIPs
The Testing Laboratory
Test 5 New Tactics
Per Quarter
Roll out tests
that work
Discard or tweak
tests that
don’t work
Referrals: Your most powerful
tactic…when done right
•
•
•
•
•
•
•
•
•
Carve out time
Goal: Two doors open for every door closed
Help them first
Educate them about the types of people you want to
meet
Take the pressure off by asking for introductions to
good people to know
Jog the other person’s memory
Learn as much as you can about the referral
Figure out the best next step
Follow up
Alliances
• Use leverage to get an ongoing source of referrals
• The top 10 list of alliances
• Ways to utilize:
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Your own private BNI
Mastermind groups
Joint promotions
Joint panels/seminars
Make your firms look bigger
Advisory group
Start of an institute
Expert Status
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Speak
Write
Blog (with social media and email follow up)
Research
Interviews/PR
Email mini-course
Book or eBook?
Internet
•
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•
Blog on your site and get it out to social media and email
Blogtalk radio
YouTube/video series
Be a guest blogger/radio host
Collect emails and give them valuable information at no risk
to them; make offers with 1% of your content
• There is nothing magical or complex about social media, but
it takes time
– Profile; smart contacts that you actually turn into relationships;
endorsements; start and manage a group; participate in groups;
post good content and don’t fight with anyone
– If in doubt, hire a college kid
• Find a non-voodoo, non-scam SEO expert
• Test AdWords and other PPC carefully
Leadership
• Don’t just join an association, lead it!
• Find a board of directors where there are
people who can make introductions for you
– Avoid polarizing organizations even if you happen
to love them
• Get yourself above the insurance salesmen
and real estate brokers
• Form your own association if you have to
Get creative to attract clients
•
•
•
•
•
The jogger approach
The curious/enthusiastic call
The “I’m in town” call
Research study
25 – 100 target prospect strategy
Close engagements
• Overcome low-pricing
self-esteem
• Ask questions to engage
and assess fit, without
wasting time
• Handle concerns and
objections with finesse
and grace
• Love the word “No”
• Strategies to close the
deal
• Never accept an offer to
write a proposal
unless…
• The business
development
conversation flow
Do you suffer from low-pricing selfesteem?
x
x
x
x
x
x
x
x
Price
x
x
x
x
x
ARE YOU
PRICING HERE?
x
x
x
x
Value/Competence
Do you suffer from low-pricing selfesteem?
• Ask questions to uncover value
• Make your case for value
• Don’t accept any engagement
where you don’t provide 5-10
X your fees in value
• Keep moving up the chain as
you feel comfortable
• Be willing to accept a “no”
• 80% win ration is fine, not
100%
Questions
• Do not move forward if answers are not
satisfactory about value and money:
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–
–
–
–
The problem and degree of pain
Time constraint
Budget
Willingness to spend
Ability to spend
• It is better to get a quick “no” than waste your
time with people who want free advice from you
Handle concerns and objections
with finesse and grace
•
What are your top 10 objections?
–
•
•
•
Which ones can you bring up immediately?
What are your proven responses to these
objections?
Ask a question to handle a question or
objection
–
–
•
•
“Why do you ask?”
“Tell me more about your concern….”
How can you turn a perceived weakness
into strength?
–
•
“Everyone has a big BUT.” – Pee Wee Herman
“That is exactly why you should hire me….”
Be willing to suggest that perhaps there
isn’t a fit, and observe how they respond
Back to the testing laboratory
“No” is a beautiful word
• No more wasting your time
• You can control the conversation and be on
equal ground
• You can move on to serious prospects
• You learn how many prospects you really
need, and stop living in the world of hope
• You build mental toughness
Simple strategies to
close the deal
• What do you want to do next?
• Express your own enthusiasm
about working with them and
tell them sincerely that you
want to work with them
• Get a quid pro quo if they need
to think about it
• Can you create urgency and still
be natural and authentic?
• Suggest they aren’t serious
about moving forward
• Let them go and be patient
Never write a proposal unless…
• The quid pro quo
• Have them write it with
you
• Same with anything
else:
– More information
– Referrals/references
– Free samples that they’ll
pay for if they like it
The business development
conversation flow
•
•
•
•
Questions to understand and assess fit
I can help you. Here’s how…
Collaborate on a solution
What do you want to do next?
Keep clients for a long, long
time
• The value of each and every client
is obvious and constantly forgotten
• Deliver value, value, and more
value
• From foothold to major presence
– Always be looking for the next place
to help
– Always be developing new solutions
to address your client’s full range of
problems
Build a firm to enjoy lasting
wealth
• The firm-builder mindset
• Frameworks for ongoing
wealth
• Books
• Information products
• Groups, seminars,
subscriptions, leadership
circles
• Certifications and licensing
• Contracting and hiring others
• Tools
• Center of excellence or
institute
Firm Builders: What Walt Disney
has to do with your business model
Movies
Theme
Parks
Events
TV
Networks
Licensed
Products
Cruise
Ships
Time
Shares
EXAMPLES OF
FRAMEWORKS
Lencioni: Five Dysfunctions of a Team
Covey: Seven Habits
BCG Cash Cow Framework
Dupont Return on Investment Model
BENEFITS OF CREATING
FRAMEWORKS
• Become unique and
stand above other
coaches
• Become an expert not
just a coach
• Charge more
• Own an asset that
makes your firm
valuable and creates
the potential for a
stream of revenues
• Turn your framework
into products,
seminars, speaking
gigs, group coaching,
training, licensing
arrangements,
certifications, and on
and on….
• Build leverage
A good framework
So
What?
What
How
Create your action plan
• YOUR business
model
• YOUR action plan
• Claim your power as
a coach
Your business model
• By source:
Leads
x Conversion %
x Price per
transaction
x Number of
transactions
= Client Revenues
• Leveraged
revenue
• Product
revenue
• People revenue
Your action plan
• Choose one
target market to
dominate (70/30)
• Develop a
compelling
solution and
marketing
message for that
target market
• Get your testing
laboratory going
with 5 ideas to
generate new
leads
• Choose at least
one way to get
leverage through
products and/or
other people
Claim your power as a coach!
• Everyone has a superpower. What is yours?
• What is the value of this superpower to
others?
• How can you use it to become the go-to
professional in your marketplace?
• Why would you hold back? This is not a dress
rehearsal.