In this series, we will look at some of the key metrics that you should be using to track, evaluate, and improve your business. Remember, the data does not lie, so look at these numbers seriously to see where you can grow your earnings.
As coaches, we are extremely fortunate that we get to do something that we love. Unfortunately, very few of us started our coaching journey because we love to promote ourselves, our services and our business. While it might not be the reason you began coaching, it’s a vital component to a sustainable business which will allow you to support yourself, your family, or future family. It’s also important to be comfortable with this in order to prevent burnout. If you are always stressed about where your next customer is going to come from because you are leaving it up to chance, that passion for coaching is at risk of flaming out.
Understanding your data and statistics to grow your client base and close on new customer leads
New Customer leads are defined as the number of people who contact you about your coaching services. Not every person who is interested will become a paying customer, but it is the first step in your sales process, and often the largest area of improvement, especially for new coaches.
How to evaluate this metric: Exact goals or numbers are hard to know because we all have different schedules and goals for our private coaching business. But here is a good indicator: you should be dictating (in a kind, professional manner) when you are available to a client. The most successful coaches on CoachUp keep a tight schedule, communicate it to their clients, and stick to it. If you are able to accommodate a client any time, any day you should, but in the long run, it probably means you have too much availability and need to generate more interest at the top of your funnel.
How to improve it: If you do not feel you are in the above position, and simply need that next customer because you are not busy enough, you need to think about ways to grow the number of New Customer Leads. This is the main thing that CoachUp helps with, but there are a couple things you can do on your own as well.
- Turn a negative into a positive. You have a lot of time and not that many clients, so show up early to set up the field, or take extra time to send excellent feedback after the session. Going above and beyond can lead to any business’s best friend—word of mouth referrals!
- Create a social media following or other content. You are an expert in your field and have information to share. Maybe this is an article, or some cool drills you know. Sharing content for free can lead to more people seeing your expertise and wanting to purchase it. This is another thing CoachUp can help with as we love to feature coaches right here on our blog.
Remember, the first step in solving anything is identifying where it can improve. This metric, and more, can be found and tracked in your CoachUp account. If you are taking your business seriously, you should have a good grasp on this data so that you can work on making your business as strong as it can be.
