How do you structure a life coaching package?
There are four key elements of a life coaching package: duration or timelines, outcome or goals, format, and cost.
How many sessions are in a coaching package?
The majority of coaching packages give a minimum of 6 sessions to bring about the promised changes in their client's lives. It really depends on the person receiving the coaching and how experienced the coaches are.
What is the average of a coaching session?
The average coaching session is about 30 minutes or an hour long. Sessions that go over an hour may be convoluted and overwhelm clients.
As a coach, it's not always enough to offer a superb coaching program as that alone can not bring in a lot of clients; you need to be able to sell yourself. Whether you offer life coaching packages, online coaching packages, or any other branded coaching package, you must present your business to make your prospective coaching client feel like you are the best option.
Now, as you may already know, the traditional techniques of reaching out to clients individually can be quite unfruitful. Hence, the need to develop a powerful coaching package that helps you reach more clients and give you more control over your business. What better way to utilize the coaching package than implementing a coaching package template to fast-track this process?
In this article, we will go in-depth into coaching package templates, what they are, how to utilize these coaching templates for your business, and many more details.
What is a Coaching Package Template?
A coaching package template is simply a document containing pre-made designs that you can use to fill in all important information related to your coaching packages. The coaching package template is often used to detail your services to your coaching client.
Preparing a coaching package from scratch can be incredibly tasking. You need to carry out thorough research to know what to include and what not. Even then, you might miss some essential details necessary for an effective coaching package. This more reason coaching package template is encouraged.
Not only does a coaching package template help you save time, but it also serves as a lead magnet and enhances how your clients feel about your business. Fortunately, you can use a great online coaching tool like Bonsai coaching package template to help make to make the process much easier for you.
What Should Be Included In A Coaching Package Template?
To be recognized as a premium coach, there are certain details that you must keep in mind when customizing your coaching package template; These include:
Introductions should always be short but powerful enough to give your client a thorough overview of your coaching program and how it can serve their immediate needs. The introduction should include the name of the coaching packages, a short description, and what results the clients should expect to get from it.
The trick is to draw the client in but not reveal too much about the package. Keep them desiring more and willing to go on to the next section of the coaching package. Your Ideal Client would figure out the coaching package they need and proceed to the next section. Most coaching templates already provide an outline of how this can be done. Some even have samples you can easily adapt.
Storytelling is a powerful tool used by prominent brands to sell their products. By telling your story, you can connect with a potential client on an emotional level while also highlighting the incredible value your coaching program offers.
To make this part more captivating, consider telling a story about your journey as a coach; How you started, the challenges and overcame them, and other exciting points. It would be best not to use the sample provided by a coaching template. Instead, spend time drafting out a unique story about your coaching program.
Every coach follows a unique process; usually a technique they have practiced over time and found effective. During the course of your coaching practice, do not fail to include your methodology in the coaching package. Consider this as another opportunity to sell your coaching business to potential clients.
Note that you do not need to outline everything your coaching package entails in this section. Rather, give sneak peeks of the techniques you employ in your coaching process.
In this section, you can delve deeper into exactly what your coaching package offers. Make your clients understand the process involved in your coaching plan.
Details to include are:
- Number of coaching sessions the client is meant to attend
- Coaching package prices
- Testimonials to serve as social proof
- Cancellations/Rescheduling conditions
- Stable means of communication
These helps you confirm that your clients know exactly what they are signing up for.
Recommended reading: Discover the best client management software for coaches.
Here is where you define the duration of your coaching package. The time you dedicate to each client may vary depending on your coaching niche. Also, you have to consider cases like dealing with a single client or an organization.
For example, while business coaching packages might run for 4 months, a life coaching package might go on for as long as one full year.
Be very specific about the duration of your package. You can also consider including an open-ended time frame in your package. With this, a client can specify the amount of them they require for their coaching sessions and get charged accordingly.
Your Ideal Client
Figuring out your Ideal Client can be a bit tricky. However, including it in your coaching packaging is relatively easy once you figure this out. The best way to know who your ideal clients are is to study your past clients. That's because your potential client's chances of making a purchase are pretty high if they are suitable for your business.
To include this section in your coaching package, precede the paragraph with either of these: Do you fit this profile? This package is for you if…." Then proceed to list out characteristics that define your ideal client. These include but are not limited to personality traits, financial status, etc.
You can always attract new clients by including a bonus in your coaching package. People want more than what they pay for. Hence, offering them a special dividend can be the shove that gets them to patronize your business. Any bonus you decide to include must be of significant value to your client.
Examples of bonuses you can include are Ebooks, an intro course, subsidized prices, etc. Whatever you choose, ensure it provides clients with the valuable information they need. However, do not reveal too much about your business in any free course or ebook. The key is to tell them enough to make them see your coaching program's value and make them purchase the package.
Now it is time to include the price of your coaching package. Be explicit about how much you charge. Do you charge per session? Or after the whole coaching process?. Not everyone who desires your coaching service can pay the price. Hence, the need to state your price to attract clients that are ready to pay.
Figuring out how to price your coaching package can be a bit tricky. Luckily, we have dedicated a whole section discussing how you can quickly go about this. Read on this to discover how.
After stating your price, the next thing to include is how you want to be paid. Some coaches prefer getting their payment after the first session, while others like to be paid upfront. Whatever your choice is, ensure it is well stated in your coaching package.
Also, include any clause that might be attached to purchasing your package. For example, do you accept refunds? Can clients pay in installments? Ensure you provide clients with complete details to clear all doubts that might surround any payment option you choose.
How Do You Price Coaching Packages?
How do you answer "What is your rate?" when your potential client inquires? Knowing how to price your service or product in any business correctly helps to boost general revenue and stand out from the competition.
Because of how daunting the process of pricing a coaching program might seem in the beginning, many coaches end up undervaluing their services; you don't want that to be you.
Although thousands of coaching niches exist, the same pricing strategy is used in most. So, whether you are a life coach or a business coach, you can price your coaching package using the methods below:
Widely referred to as the "Hourly Rate", pricing per session is when you charge your each client the coaching value for each hour you spend with them.
A retainer rate is a long-term pricing strategy in which the client pays you a set monthly amount for your services. You need to state what explicitly and what not this retainer fee covers.
Using a package is considered one of the best pricing strategies to scale your business and earn significantly faster. With the package system, it is easier to build a healthy coaching relationship with your client by helping them achieve their long-term goals. You get paid and recognized for the value you provide.
For example, you can put a premium offer on your career, relationship, executive, or life coaching packages, sell them, and earn more at the end of the day.
Factors to Consider When Choosing a Coaching Package Pricing Strategy
Before choosing a coaching package pricing strategy, you must factor in the following:
Time plays a significant role in the success of any business venture; the amount of productive time you invest in your coaching program should reflect its price. Whether it's on a one-on-one session, calls, emails, and other interactions, do not neglect the hours you spend with each client.
For instance, if your life coaching package is priced at $400 per month, but you spend 10 - 15 hours working each month, you have massively undervalued your product.
Working overtime on low pay is not only frustrating, but it may also harm client results. You need to ensure you offer fantastic value and charge a higher price. Getting a few high-paying clients is more efficient than getting loads of low-paying clients.
The significance of having the relevant skills and expertise in the coaching business cannot be overemphasized. Well-seasoned coaches do not have issues securing clients as their work speaks for them.
If you are a beginner coach, gaining experience should be your primary focus. As time goes by, you begin to build your track record, allowing you to provide premium offers.
One mistake that most beginner coaches tend to make is undermining the services they offer. This eventually makes it difficult to raise their prices later on. That's why you must stick to providing clients with as much value as possible and charge them accordingly.
Yes, it would help if you took note of the competition. However, many coaches do this in the wrong way. They either beat their price to lower than the competition to attract more clients or copy their strategy. If you follow this route, you will leave a lot of money on the table. Instead, pay less attention to what the competition is doing and spend more time adding value to your coaching package. The key is highlighting how you help clients achieve their goals and providing social proof to back your claims.
Even though the virtual world has become prominent in our society today, effective coaching still requires physical interaction. Hence, the need to consider your location when pricing your coaching package. The cost of living of the place you choose to work or situate your office will significantly impact how much you earn.
Potential clients in major cities are likely to commit higher fees to a coaching package than those in small towns. On the contrary, your location also affects how much bills you incur on personal and professional expenses. It will cost more in major cities if you need to rent out an office space or commute to work. Therefore, you need to ensure you consider this factor when pricing your package.
That's it! we have defined coaching package templates and highlighted the elements therein. Also, we looked at coaching package prices and the best pricing strategy to use.
Using the Bonsai coaching package template, you can easily whip up a premium offer for your signature coaching program. Bonsai also features various free templates you can make use of on its free version. It also has paid packages that give you unlimited access to essential features valuable to building your business. To gain instant access to these awesome offers, start your free trial today!