Having more people in your group program isn't always best. Most people think that you can’t have a six figure coaching business without having an audience to match. I want you to know that this is wrong. You can break through the magical six figures with a smaller group. Having a white glove service can be very lucrative for you. By using this method it becomes very possible to hit six figures. A white glove service also provides a service that makes the biggest impact for clients. You can help clients more if you don't have to service 200 people at the same time. High end coaching will yield better results. Now that you have clients with bigger, better results that creates a positive cycle for yourself.
Ask yourself, what would make the difference for you in your life? Let's say you’re trying to lose weight. Imagine buying one of two courses. One course being $1000 a month and another being $40 a month.
Would you take your weight loss journey more seriously if you're paying $1000 or $40 a month? For most $1000 is a large enough amount of money where you’re going to want to see results from your investment. By the same token $40 is a forgettable amount of money for most. Charging high end only helps your clients more.
Which leads me into Membership sites and how they’re not as good as you might think.
People want a recurring consistent revenue stream. It's a dependable amount of money that you know you're going to be making every month. The problem is how most coaches go about trying to earn that recurring revenue stream. They will create a membership site.
Membership sites are not all they’re cracked up to be. There is a lot of time and effort that needs to go into creating one.
After they’re done they’ll charge $40 a month. They’ll get 2 or 3 people in it and that's it. They might get a couple $100 a month. Nothing near what you could be making with group coaching model.
But now after all that energy, all that effort, and all that client acquisition and marketing expense they’re in the red. You can create consistent recurring revenue, but you need to make money every step of the way
It costs you 7x more to acquire new customers than keep existing customers. You’re actually losing money if you're going to market with your program. After Client acquisition cost and client service cost are you even breaking even?
A high end group programs really allow you to serve your clients in a way that you wouldn't otherwise be able to.
High end allows you to go above and beyond. If you want to serve in a very loving and generous way. If you love to over deliver, then charging at a higher price point is better because it allows you to go above and beyond without being bitter.
I speak from personal experience. It sucks! You do all this work for clients then feel bitter after because you over delivered and the pay was not equal energy exchange. If you charge high end you can over deliver and not feel bitter about it.
Raise the price on your group program.
Doing the math...
If you want 100k
It can be that simple. The thing people get stuck on is how to get a program that costs $10k.
What would need to be in that program? How do I position myself to sell that program?
The more customers you'd need to fill that program, the larger the top of the funnel is going to need to be. Which means to the larger the audience you're gonna need
A high end group program doesn't need a large audience.
I have a client that got to her first 20k month with a small audience. I asked her for a list of 100 leads that might be interested, she had less than 50! If she had a membership site she would need 1000s of leads to make that same amount.
Not to mention that leads cost money. Facebook ads are not cheap and they keep getting more expensive. This is not something that you can sustain long term. Sell high end and position yourself in a way that its not an issue for people to pay you that much
If you have decided that running a group program is for you and you want help getting started then I invite you to come to our Fill Your Group Program Coaching Experience.
I will show you how to go from having nothing to be ready to fill your own group program. I have had past participants finish with up to 60 leads! Click Here to Register for the FREE Fill Your Group Program Coaching Experience
Ready to build a sustainable, thriving business that will deliver consistent recurring revenue and help people all over the world while you work less?
Hit the button below to send me a DM and book a complimentary consultation. Let's talk about how we can grow your business to $100K in sales with a proven framework!