Do you think that you have a skill that people might be interested in learning and wondering how to start online coaching?
Education is a trillion-dollar industry and it is going to grow bigger and bigger by the day.
E-Learning Market size surpassed USD 300 billion in 2020 and is anticipated to grow at over 8% CAGR between 2021 and 2026.
Image courtesy: www.gminsights.com
India has the largest population in the bracket 5-24 years of age and even millions of youth need training and skill up-gradation on a regular basis.
This shows that no matter what, the education sector will always show an upward growth.
And now with the technical advancement, setting up and scaling online coaching business is now feasible for everyone.
Benefits of Online Coaching vs Real Coaching
The offline brick and mortar education industry model is facing many challenges especially during the times of covid-19 pandemic and lockdown.
It is very much evident that the industry needs some serious reforms.
Now is the best time for your coaching business to make an online shift. If you are wondering why to come up with an online coaching business plan?Here are some of the major benefits of setting up an online coaching business over offline coaching business:
- Time Flexibility:
This is one of the biggest advantages of online coaching.
Both learning and teaching can happen at times which otherwise would not have been feasible.
Students can learn at their own pace with a given curriculum framework and teachers can easily break down their sessions into learning and engagement sessions.
- Location Flexibility:
Location flexibility is also one of the major benefits of online coaching.
You can learn and teach at any place or geographical location be it home, office, kitchen, or even a tourist destination.
All you need is a laptop or mobile phone ( in some cases) and an internet connection that is readily available these days.
- Community building:
This is one of the most unique features associated with an online coaching business.
Social media platforms such as Facebook provide you an opportunity to build a Facebook group revolving around your course content which serves as a platform for discussion among you and your students.
- Diverse experience:
Online learning provides an opportunity for people belonging to verified fields and stages of lives to come together and share their individual experience and wisdom and have an enriching experience.
- Digital literacy:
To figure out how to teach and connect to your students online, you’ll have to learn to use the technology.
Which will, in turn, lead to you becoming digitally literate which is the need of the hour right now.
Different type of online coaching business model:
Once you’ve learned how to set up your online coaching business, you need to decide which online coaching business model will be most suitable for your course.
Though there are many ways in which you can come up with online coaching business ideas, there are some which are popular among tutors and students.
- One on One coaching:
This is how most coaches start their careers and the easiest way to make some money teaching online.
It doesn’t follow any particular coaching curriculum but it’s better when your client gains skill or knowledge that he is seeking from you.
There is no bar on the price that you can charge for your coaching services although to charge high, you’ll need to be highly skilled as well.
- Group Coaching:
Group coaching allows you to accommodate 5-10-20 or even more people into your coaching program.
It allows you to expand your online coaching business revenue from one person to many.
For the online group coaching, you’ll have to be more professional and your course needs to be structured with the proper course curriculum, awesome content, and also needs to be marketed properly.
- Corporate training:
If you aspire to become a corporate coach or executive coach, it’s a tough nut to crack but results are worth it.
You’ll not only have to have the skills and experience that corporates are looking for, but also have to market yourself by blogging excessively and also have to maintain a healthy relationship with corporates.
You may also have to do a lot of sales directly to the executives of the corporate teams, or to the HR departments.
- Membership programs:
Membership based program is beneficial for those types of courses that require special attention.
You can easily start an online membership program wherein your students can pay you till they achieve their objective.
In membership programs, you basically have to figure out how you can retain your old clients by consistently offering them something beneficial and new.
How to market and advertise your coaching business.
When it comes to online coaching business, marketing plays a very important role.
It is the immediate thought that should come to your mind after you ask yourself How to start online coaching?
It doesn’t matter if you have the best content or not, the only thing that matters is how well your content is marketed?
Here are some marketing strategies that you can apply to your online coaching business.
- Content Marketing:
The first strategy is to create content that your audience i.e. your students are searching for.
The aim of content marketing is to create targeted content for your particular audience to grow engagement around your course.
To learn how to create content for your business, you can watch my video.
- Social Proof:
If you are not using social proof to market your course, you are missing on a lot of opportunities to engage and convert your audience.
Social proof is important as it’s been proven to result in higher conversion rates across websites, sales pages, and landing pages.
You can ask for reviews and testimonials from your previous clients in the form of Google and Facebook reviews. But the best testimonials that work are video testimonials.
So make sure that you always ask for video testimonials from your clients.
SEO for any business, let it be an online coaching business, is a very important part of marketing operations.
If your goal is to drive inbound traffic to your site through search engines and get ranked on Google for certain keywords, gearing up on your SEO will be an important piece of your strategy.
You always have to remember, that SEO is an investment that requires ongoing maintenance – it’s not a set it and forget it strategy.
- Social Media:
Social Media has become an important part of any business marketing strategy.
You need to have a presence where your clients are hanging out.
Social Media is the best and the cheapest way to build your brand and advertise your services.
The key to using social media effectively is to have a strategy.
Rather than trying to cater to everyone, pick your audience avatar, define your goals, choose a channel, and decide on a posting schedule.
- Affiliate marketing:
Creating an affiliate marketing program can be a helpful tool to diversify your course’s marketing strategy.
The best way for a small coaching business to compete is to make your past clients your affiliates.
Executing an affiliate marketing strategy will take time and requires clear alignment between you and your affiliates, but can amount to big exposure and sales when done well.
- Paid Advertisement:
When it comes to promoting your online coaching business, social media platforms like Facebook, Instagram and LinkedIn provide an affordable and effective option.
You can reach out to your exact audience by using laser focused targeting that these platforms provide.
For example, if you want to start a course on home decors, you can advertise only to housewives. Similarly, if you want to start a course on photography, you can reach out to photography newbies based on their interests.
- Landing Page:
It is a tool that will help you to collect contact details of your potential clients.
All you need to do is to drive traffic from the above-mentioned resources to your landing page which can be either used for lead generation or even sales.
You can also install payment gateway platforms such as Instamojo and Razorpay to your landing page as a means of instant fee payment.
There are multiple paid tools such as Clickfunnels or Builderall that charges you more than 100$ a month.
We at Alok Academy teach you to build effective landing pages for your business for absolutely free of cost.
- Email marketing
To turn your leads into paying clients, you need to build trust. Email marketing is still best suited for trust building.
Yes it is hard to sell high ticket courses using just Email, but you can run a nurture campaign for your clients by giving them gated content like free Ebooks, guides, templates etc.
There are multiple Email automation tools that you can use for email marketing and automation such as Mailchimp, Sendinblue etc.
- E- learning tools:
Now that you gained enough traction for your course and clients willing to take your online course, you will need an E-learning tool by which you can deliver your content effectively to your clients.
The various E-learning tools that are available in the market such as Gotomeeting and Zoom where you can teach hundreds of students your course online in a very cost effective way.
Do you want to know what best business advice Eric Schmidt, Google’s Executive Chairman, ever got?: “Get a coach.”
If someone of that caliber names having a coach as the secret of their success, maybe the rest of us should think twice before we say we don’t need a coach.
If you are a tutor or a mentor who wants to start an online coaching business, you can mail me at : firstname.lastname@example.org.
Himanshu Khandekar is a copywriter, content marketer and social media strategist at AADME. In his free time he loves to read books on entrepreneurship and marketing and also an avid chess player. Connect with him on LinkedIn or tweet him @khandekarhim.