One of the terms that stands out for me in terms of last year’s focus in the business development world was that of the marketing funnel. The marketing funnel is a term that describes the ways you invite prospective clients and customers into your orbit.
The funnel simply looks like an inverted pyramid or a funnel. The top is wide, scaling down to the bottom. If you have a copy of the Coaching Business Builder you can work through your own funnel on page 8.  I've also included one here to the side bar.
 
We can explore the funnel on two levels –

1. What’s our mix of products and services at each layer of the funnel? 
2. What are we doing at every level to bring people into the different layers of the funnel – building deepening layers of awareness, relationship, purchase and advocacy?

We will look at each level from the perspective of what you are offering in terms of your products or services. Then we’ll look at it in terms of how you are building relationships.

At the top of the funnel we have those items which are free or no fee. This is the widest part of the funnel and it is geared to attract the most amount of people.  It’s also the place where we want to build brand awareness around our different products and services. The focus at this top end of the funnel is to ATTRACT new people and to share with them what you have to offer at a FREE or LOW FEE way. It’s an opportunity to spotlight snippets of what you offer.
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At this level we might include things like:

• A downloadable checklist or template to support our clients
• Blog posts or Instagram feeds
• A daily challenge (5 days) to support clients in taking action towards their goals
• Facebook Live calls or Community Calls where we discuss some of the more common questions opportunities, challenges and resources for our focus of work
• Delivering a webinar for a larger association or group

The goal here is to start building a connection and conversation with people.

What do you have at the widest part of the funnel - FREE or VERY LOW FEE, focused on ATTRACT?

At the next level of the funnel, you will have low priced offerings. Again, the purpose is to continue the conversation, and strengthen relationships and start generating money. It is often to help people consider your services at a lower price point and start the conversation with you. They will get more than a taster and probably get an experience of what your services can provide for them.

At this second level, which is geared to get people to CONVERT to a higher level or next product, this might include:

• A book
• A short e-book bringing together some of your blog posts in a compendium
• A short video-based course highlighting some of the tips or latest research around the topics you coach around
• A longer challenge (7 days for example)

At this layer you are starting to share more about your business, the philosophies which underpin it and who you are and what you offer.

At the third layer, ENGAGE, we have mid-priced programming. This is perhaps where your live offerings of retreats or group coaching might reside. At this point, people are making an investment into your offerings, and they are likely to become a fan of what you offer. They are the ones who are likely to move to even higher priced items, now or later.

There may be a next layer where people work with you on an ongoing basis on mainstream offerings. For some coaches this is where your regular one-on-one coaching will reside, or retreat day with a team.

Finally, at the top end of the funnel (the smallest part), where it is likely at the highest rate, and most intensive (or highest touch) work – you have the CONNECT phase where these people are likely to become the ADVOCATES of your work. They are the “RAVING fans” or people who will buy everything you have to offer.  This might include a face-to-face piece of Intensive work with you through a Weekend Program OR a VIP Day.

Exercise:
As you consider your business mix for your work, what would you put in each of these layers? Which programs could benefit from some attention and/or need to be developed?

All the best,
Jennifer

Jennifer Britton - GroupCoachingEssentials | Potentials Realized 
Instagram @CoachingBizBuilder
Join us for an upcoming ICF-CCE approved program including Group Coaching Essentials (8.75 CCEs), Advanced Group and Team Coaching Practicum (10 CCEs), or the PlanDoTrack Facilitator Training (24 CCEs). 
What's possible if you take daily steps on your business for 60 Days? Join our 60 Day Coaching Business Builder Accelerator program here!
Author of Effective Group Coaching (2010), Coaching Business Builder (2018), Effective Virtual Conversations (2017) and From One to Many: Best Practices for Team and Group Coaching (2013). Check out my author page on Amazon for all publications.
Email: info@potentialsrealized.com

What’s in your business mix?
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As coaches we may be offering a variety of different products and services as part of our offerings. Building onto our conversation about business development, a coach may have a variety of things in his or her business mix.
 
Earlier research done by the ICF in 2013 found that at that time 94% of coaches offered one or more other services in addition to coaching. Find out more about that study here.

What are the types of services you are offering?

Consider the following:

• Individual Coaching
• Group Coaching
• Team Coaching
• Consulting
• Assessments
• Counselling
• Workshops
• Retreats
• Webinars
• Contract Training
• Facilitation Services

​There may be a variety of things you offer. What do your clients indicate that they want from you?

Listening to client needs can be a valuable recipe for success. If you are not hearing things directly, try these other approaches:

• Host a focus group (virtual or live) to find out from past clients their perceptions around:
  • Current challenges and opportunities (for people like them/their industry/their role)
  • Trends they are seeing
  • Service needs/requirements
  • Focus areas
• Do a survey
• Ask people to review a white paper you may have written – commenting on not only the content you have provided but also what other topics they would recommend you cover.

As you think about your work this year, what is in your business mix? What else do you want to make sure you continue to offer?

Best wishes,
Jennifer

Jennifer Britton - GroupCoachingEssentials | Potentials Realized 
Instagram @CoachingBizBuilder
Join us for an upcoming ICF-CCE approved program including Group Coaching Essentials (8.75 CCEs), Advanced Group and Team Coaching Practicum (10 CCEs), or the PlanDoTrack Facilitator Training (24 CCEs). 
What's possible if you take daily steps on your business for 60 Days? Join our 60 Day Coaching Business Builder Accelerator program here!
Author of Effective Group Coaching (2010), Coaching Business Builder (2018), Effective Virtual Conversations (2017) and From One to Many: Best Practices for Team and Group Coaching (2013). Check out my author page on Amazon for all publications.
Email: info@potentialsrealized.com

One of the regular columns readers enjoyed last year was my monthly 1BizStepaDay series. I started them back in January 2019 and released one a month. As we moved throughout the year I heard from many coaches who said they were following these daily prompts regularly.
As you may know, the philosophy of the CoachingBizBuilder and PlanDoTrack is that consistent action plus daily steps creates momentum. Most of us have don't have time to take huge steps of work, but we do have time to undertake small steps. I hope that this year you will follow along with the 2020 1BizStepADay prompts. You can download the January 2020 set here.
Enjoy and let us know over at the Conversation Sparker Zone what action you are taking. 
For coaches who are interested in taking a deeper dive around these topics, and are looking for more coaching support, do check out:
The Coaching Biz Growth Lab - an annual group which meets throughout 2020 bi-weekly on Fridays, creating an extended focus around your coaching business development.
The 60 Day Coaching Business Builder Accelerator - part on-demand course, supported by twice a week group calls, this program is geared to get you moving quickly into action. Two groups kick off this month - one earlier today (which you can still join) and one on January 15th. 

Thanks for joining us!
Jennifer

​Jennifer Britton - GroupCoachingEssentials | Potentials Realized
Instagram @CoachingBizBuilder
Author of Effective Group Coaching (2010), Coaching Business Builder (2018), Effective Virtual Conversations (2017) and From One to Many: Best Practices for Team and Group Coaching (2013). Check out my author page on Amazon for all publications.
Email: info@potentialsrealized.com