Growing a coaching business in 2022. Trends and hints
The coaching industry has always been a fascinating and rewarding field to work in. More than ever, experts believe this sector will continue to expand. According to the 2021 ICF COVID-19 and Coaching Industry Global Snapshot Survey, the pandemic has bolstered demand in the coaching industry.
According to research from Harvard Business Review, the surge in demand for coaching services is attributable to businesses recognizing its benefits, particularly in the aftermath of a pandemic.
According to this report, businesses that include coaching in their culture have better employee retention, cooperation, relationships, and work satisfaction. The sector's positive projections are quite optimistic and will play an important part in the future of the coaching industry. New coaching opportunities are sure to emerge.
If you're just starting as a coach, now's the time!
Workee experts spoke with Dr. Terri Levine, the creator of Heart-repreneur® and a business marketing consultant who helps companies all over the globe with business development, sales, and marketing.
Dr. Levine has over 40 years of business expertise, working with over 6,000 company owners and entrepreneurs across various sectors.
She is also a successful author of dozens of books, radio and television show host, and a keynote speaker.
Dr. Levine addresses seven fast-growing trends that coaches may use to prosper and advance their careers in the coaching business in this discussion with Workee experts.
What would you say is the fastest rising coaching trend today?
The influence of digital technology in the coaching industry.
Want to interact with your audience from anywhere in the world at any time?
This is now possible because of technological advancements. As a result of the pandemic, there has been a dramatic shift from conventional to online methods. There is more acceptance of virtual coaching and technology. Coaches are now able to reach even more people.
More and more coaches are seeing the value of upping their tech budgets to stay relevant in the digital era.
These days, essential business operations, including scheduling and booking consultations, conducting virtual coaching sessions, and teaching online courses, can be done conveniently using digital tools and coaching software.
What important steps should you take to be on track in this ever-growing industry?
Focus your efforts and energy on results-oriented coaching in 2022. Clients are now looking for evidence-based results!
First, you need to be sure you are giving clients the result THEY want - not the program/service or product YOU want to sell. So, ask your target audience, “If I can give you ONE result and only ONE result, what is the result you would want?”
Next, develop a program, product, or service you can guarantee will give that ONE result.
Invest your time in good books. Take advantage of the most effective educational resources available to learn how to get the best outcomes quickly and easily.
Being a part of a coaching community is also a good idea. This will help you learn, interact with colleagues, and earn clients.
And for sure, hire a business/marketing consultant who has your back and will take you under their wings and guarantee your success.
Is it necessary to get certification?
No. Initials after your name is NOT the reason people hire you.
However, I agree that it will be good to learn the core coaching competencies to have the skills to be a great coach. Do your research and find what works for you.
You'll also need to brush up on your hard and soft skills. Learn about the newest technologies and tools and how to communicate effectively.
What coaching niche(s) is in trend in 2022?
The majority of coaching niches are expected to thrive in 2022. But to be more specific, niches that are expected to increase in demand and that are very profitable are career, relationship, leadership, speaking, video, and health coaching.
Lately, there's been a greater focus on holistic well-being, which is understandable. According to the CDC, depression, anxiety, stress-related symptoms, and suicidal behavior are increasing. These symptoms have developed significantly due to the pandemic and everything else. As a result, a holistic approach to well-being and positive psychology is necessary.
One thing to also bear in mind as a beginner coach is expertise.
A jack of all crafts is a master of none. So, if you want to remain relevant as a coach in 2022, gaining expertise in one niche is advisable, so you can be in the best position to offer solutions.
Dabbling in many fields rather than concentrating on one can dilute your professionalism, and you won't be taken seriously.
Are other tools necessary for coaches looking to grow their business?
Definitely, automation and delegation are a necessity.
As your coaching business grows, you will recognize the advantages of automating administrative activities via software. Several excellent coaching tools available may help you decrease your workload in half. It would be a huge error to ignore them.
What do you think about branding in 2022?
The long and short of it all is that branding is important. Until now, many coaches believed that “branding” and “direct feedback did not intersect. Branding has always been a vital part of any business, but it may be more important in 2022 than ever.
Logos and pretty colors aren't the only things that make up a brand. A brand represents you, it should mirror your individuality.
Clients are constantly exposed to new brands, so creating a brand that speaks to their emotions and makes them feel more connected to your business is critical. Good branding means better connections, and better connections become loyal customers.
What advice can you give coaches looking to grow their business in 2022?
Use high-touch strategies to gain clients.
Providing deep dive breakthrough sessions (not sales pitches, demos, discovery sessions, or complimentary coaching sessions) makes a HUGE difference.
Build an online presence and presence with a Facebook or LinkedIn community where you show up regularly, create value, and lead your community.
Use the power of video - Facebook Live, IG LIVE, video blogs, and YouTube are great platforms to teach, train, and share.
Collaborate with other coaches/consultants and get in front of other people’s audiences to do interviews, share value on summits, etc.
Create an automated course to allow your target audience to experience what you do at a low-barrier to entry investment, then a mid-level group, and finally and high-level group.
Thank you, Terri, for being with us and for supporting Workee!
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