Case study
How this business coach generated $40K annual recurring fees in 60 days
Industry
Business Coaching
Size
Local team of 3
Pricing
$1,500- 8,000 per project
Growth
Added $40K ARR in 2 months
“I have immense confidence in [Rahib’s] ability to help people – mostly because of the strategic, methodical approach, and ability to articulate a compelling offer.”
– James| CEO | The Successful Adviser
– James| CEO | The Successful Adviser
The Challenge
The market didn't understand how he’s better than other coaches
- Losing money on funnel and ads
- High churn, slow sales and low cash flow
- Low authority and difficulty closing sales
After 8 years as a business coach, James felt he was falling behind.
His clients love him, and he gets some referrals. He’s a trusted voice in several forums and facebook groups. Yet his revenue had been stuck for 2 years.
The average client stays for 4-6 months, and James simply can’t find new clients fast enough.
There are a lot of coaches playing in this space because there is money to be made. Most are ex brokers who have become lead generation trainers and course creators. I’ve spoken with some of [competitor]’s students – and they aren’t getting good results.
Recognizing the need to do more active marketing, James invested in a well known marketing program for small business owners.
But after spending thousands to build a funnel, a video sales letter, a drip email campaign, and several facebook ads, James still didn’t have enough sales.
Worse, prospects were leaving negative comments on his ads. And the few appointments he did get ended poorly. Leads would ask, “how can you possibly coach me when you’ve never been a broker yourself?”
It feels like I’m invisible in my own market. What is abundantly clear though is that [my competitors] are VERY good at selling. They aren’t shy about making huge promises, etc. Irrespective of whether their product is any good, they are achieving substantially better results than me because of high quality marketing.
James had tried several copywriters, and marketing coaches but he felt they weren’t presenting him in an authentic way. He’s not comfortable talking the way other marketers want him to talk.
[Competitor]’s ads are often misleading. Brokers are being sold a lot of ‘hope’, but I am dubious about the results many of them achieve. Astute brokers can see through the BS (they have told me as much), but plenty of brokers (possibly hundreds or even thousands) are buying into the story.
James doesn’t want to ‘sell out’, add to social media toxicity or to bait and switch his clients. He understands the importance of sustainable growth. He wants to stay authentic so his family can be proud of him. He wants to set a good example for his 2 young boys.
Common Misconceptions
Common Misconceptions
1. Good brokers will understand that we’re better
Astute brokers realize their own limitations and know they need coaching. So we just have to promise what they need.
2. We need to keep finding new clients
Most brokers drop off around 6 months, so we need to keep finding new clients
The Solution
The Solution
Build to Maximize LTV, not new sales
- Stand out to the right clients
- Sell the transformation they want
- Stage services to grow LTV
On reviewing his ads and funnel, we realized Jame’s biggest challenge was a lack of perceived authority.
Many brokers did not believe James was qualified to coach brokers because he was not a broker himself (as several competitors had been).
With that in mind…
Step 1 - Build trust before selling
James had to start by getting very specific about what kind of brokers he helps.
Next we helped James get their trust. To do this he had to empathize with his audience.
So we helped James craft his story. And We helped James subtly adjust his content to show more empathy, without losing his professional demeanor.
By shifting focus from his services to his ideal client’s problems, James was able to build trust with his audience faster. Once brokers saw he cared about the same things, and had the same feelings, they were more willing to accept him as part of their world.
Step 2 - Sell Dreams not Work
All James’s clients argue that his services are better. So why then were so many brokers going to his competitors?
As James says, they excel at selling hope, while Jame’s message was always more about work and tactics. Most people will choose the easier, clearer, simpler path.
James realized he doesn’t need to make any over the top promises like his competitors. He just needs to get clearer on how exactly he helps his clients.
And how he is different from all the other coaches and consultants working in their industry.
This helped him stand out from other coaches and attract the more experienced brokers he wanted as clients.
Step 3 - Repeat Sales beats chasing clients
The final challenge was churn.
The real profits in any B2B business is made in retention (and upsells).
So we mapped out the broker’s journey, and designed different products for different levels
Then, we built a diagnostic tool to help brokers identify what they needed to get to the next step.
We used it as an assessment tool for current clients during bi-annual check-ins. (And it’s also a useful qualifying tool for new leads).
This made it easier to upsell clients the next product, or next tier of engagement at the appropriate time.
RESULTS
$40K revenue in 30 days of new launch
James applied his new positioning to his funnel and saw immediate results.
He earned $40K revenue in the first 60 days from his retargeting list. This gave him much needed cash to try new things and expand his marketing.
James succeeded because he realized the clients he chooses will choose his career for him. So he’s qualifying clients better and only taking on the ones he’s confident he can retain.
James built a system for getting a steady supply of the clients he wants, and he’s able to retain them longer. Instead of chasing sales all the time, he’s building a tribe of loyal customers around his dreams.
James McCracken
CEO
Successful Adviser
Successful Adviser
“strategic, methodical approach, and ability to articulate a compelling offer”
Rahib was amazing to deal with. A true professional in his field. Reliable, insightful and helpful. I have immense confidence in his ability to help people – mostly because of the strategic, methodical approach, and ability to articulate a compelling offer. Grateful for the opportunity to work with him and assist me with my funnel development.
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