There are three main different forms that coaches use to charge for their offering and coaching services.
- The first one is by sessions. (Example: $150/session)
- The second monthly payments (Example: $600/month for X number of session)
- The third by creating a package (6 month package $3600, includes xyz)
Each of them may have their own benefits and pit falls but the best way is truly to package your services. This does not mean that you do not offer any of the others methods it just means that it is your primary way of charging for your offerings.
There are two main reasons why it benefits you to offer coaching packages.
- Clients who sign up for a package are making a long-term commitment and are fully invested. Therefore, these clients will take the process more serious and are going to be more willing to follow through. In others words they will get better results. This will give you and your clients a better experience of the coaching process.
- Packaging also makes your income more stable as it provides a long-term income. This improves your ability to focus on clients without feeling like your constantly chasing clients.
Other benefits include:
- Results: When you package your services into a product it allows you to narrow down the specify results that you want to provide and who will benefit from them.
- Clarity: Having a package helps potential clients have clarity of what you are offering, the benefit to them, and it erases confusion and doubt.
- Easy decision: When you have your services as a package, it makes it easier to get clients because you spend less time convincing potential clients to buy. The packages provide the clarity and are easily picked and purchased. Therefore, it takes the guesswork of how many sessions they need and so on.
- Saves Energy and focus on what you love: Many coaches spend a lot of time and energy on client acquisition. Taking them away from what they love. Packaging allows you to sell a long-term commitment and not just single or a few sessions at a time.
- Saves money: Packaging also allows you to spend less money in marketing because you have a clear message and product and you can set it up as an attractive piece of your website and then just focus on targeting your ideal client.
- Easy to manage: A package allows you to more easily manage your time and you are offering since once you created it you can then focus on providing services. You can even automate many of the aspects of your coaching package.
- Increases value: Packages allow you to meet your client’s specific needs and add bonuses that will help the reach their desired outcome. If you have more than one, it also allows them to choose one that will benefit the the most.
- Stand out from the crowd: Having a package separates you from other coaches providing one on one or group services.
- More consistent income: You can predict your income months in advanced instead of weeks in advance.
- Clear period: Clients will know exactly how long they will be working with you and it will not feel like some nebulous going on for year’s type-activity. This makes people more comfortable with committing.
- More effective marketing: because your package is designed for specific people who are looking for specific results, it’s easier to target them in your marketing and express to them what you can do for them, specifically.
Read more about 1-on-1 and group coaching models here.
Joeel & Nataile are co-founders of Transformation Academy®, where they train leading-edge entrepreneurs, leaders and life coaches how to master their mindset and create a purpose-driven business. They have started more than a dozen businesses, and trained over 500,000 coaches from 200_ countries and territories. Joeel is a former psychology professor with a Master’s Degree in Counseling and Education is currently completing his dissertation on eudaemonic happiness for a Ph.D. in Psychology.