Recommended Payment Method For Coaching
By Matt Bacak

Deciding upon the business of coaching takes some work, but that work can pay off especially in the fees you charge. However, you need to use the right pricing strategy in order to see the best return. After all, you don’t want to see people refunding too soon shortly after they sign up for your program. That would mean lost revenues for you. Lost revenues can really take a toll not only on your business, but on your confidence level as well.

If you currently have a one-on-one coaching program that is supposed to be a 12-month commitment, but people are cancelling after two to four charges, which is two to four months after they sign up and their excuse for cancelling is that they are taking a new direction, it’s obvious you need to make a change in order to reverse the problem. What I would you recommend you do if people are cancelling shortly after they sign up is, to make your payment program a one payment coaching program. Make it an up-front fee that is paid prior to them starting the program and have it last the year. Frankly, breaking up your coaching into monthly payments is not showing commitment in my opinion. How can you expect people to stay around if they are paying month to month? Having that option only keeps people who are easily drawn into sales ploys by skillful marketers. It leaves the window wide open for them to leave your coaching program and join someone elses.

In order to keep your clients committed to your coaching program, I highly recommend that you have a one time fee for the entire year. That makes people commit because they’ve already paid the money and want to get the most out of your program, so they’ll feel they need to stick with it until the end to avoid losing or shall we say, wasting their hard-earned dollars. There is an easy way to have people commit to joining your year coaching program. Ask them these questions which are psychologically worded so that they decide to go with your program.

The questions they rarely say no to are:

Do you want to be coached? Do you want me to coach you? Do you want me to hold you accountable? Are you committed to making this happen? And if they say yes! Then I say “fine, show me your commitment and give me all the money upfront”. I don’t say it exactly that harshly, but it’s along those lines. Basically, ask for payment upfront. If your program is $4000 dollars, that’s what they’d pay in the beginning. That’s the way that I would approach this. And I’ll tell you, that’s the way that I always did it, and I’ve had no problems. I hate payments not only because it creates more work, but it also complicates the whole process.

So, if you have a coaching program that you are certain you’d like to implement, how do you enroll new members? Well, if you’re going to invest the time and energy into putting together a 12-month one-on-one coaching program, I highly recommend using the strategy of selling it through teleseminars. Teleseminars are the absolute best way you’re going to find to sell this program. Coach people on the teleseminar calls and then upsell them on the 12-month coaching program. You can even joint venture with other people in your market to sell it through their seminars, webinars, and one-on-one over the phone communications. You’ll not only open yourself up to a greater market, but you’ll also be helping make yourself more of a credible “guru” in your marketplace. This in turn will lead to more prospects, customers and money in the long run.

As long as you provide very good content and coach others well, there is no reason why your coaching program cannot do well. Perform well and you’ll easily reap the rewards of your labour.

There are many strategies to making money on the internet, but nothing makes sense unless you have a big list. Email Marketing is the most profitable way to make money on the internet. When you build a list of hot and hungry prospects you control your future. Discover how to use the internet and turn your computer into a cash gushing machine. Sign-up right now for Matt Bacak’s FREE online newsletter to find out how to do exactly that – Go here: http://www.promotingtips.com

Article Source: http://EzineArticles.com/?expert=Matt_Bacak

http://EzineArticles.com/?Recommended-Payment-Method-For-Coaching&id=3691751