What you will earn per client is one of the most important metrics for business coaches to realise. It factors in two of the most critical things, how long you keep a client and the prices you’re charging.
Find the balance
If you’re keeping your clients for a long time but charging them very little, you’re not going to earn that much. If you’re charging high prices but you can’t keep the client then you’re not going to earn a lot either. You want to find the sweet spot between high prices and keeping a client for a long time.
On average coaches are notoriously bad at keeping clients. The ICF reported that most coaches only keep their clients for around 4 months.
When people join or Partner Programme and have been coaching people before and they didn’t realise they were doing things to push clients away, then it was on average 4-6 months before they lost their clients.
When you know how to properly position a relationship you can keep clients 12 months and longer. Pam has had clients stay with her for 8 years!
On average you can charge a client $2000 a month for weekly coaching, that’s worth $24000 yearly. If you end up keeping them for 5 years that’s $120 000 per client.
That’s why you don’t need to have thousands of clients you just need the right people who you can serve and deliver high value to the long term.
One thing people often forget, that client pam had for 8 years started pout as a $1000 per month client on biweekly coaching. Then later because she was delivering such great value, she upgraded to a $2000 a month relationship.
By the end of the relationship, she was on a $6000 per month retainer, where Pam would work with the team once a month in workshops and then checking in regularly by phone.
Have a system in place
So you can see how by keeping a client that long and expanding the revenue by working and growing with the business that the client was worth over half a million dollars to pam.
You need to focus on having a system to help you be prepared and find high-value clients. Once you have signed a client you need to follow the client rulebook that we provide you with as part of our Certified Partner Programme.
This will teach you how to avoid the things that cause clients to leave, and how to get your clients to stay with you long-term. By following our proven system you can continue getting a high-end fee and your clients will love paying it because they are getting such great results.
So instead of being an average coach earning $4000 per client because you can only keep them a few months, you want to be charging higher prices and keeping them long-term. Your goal should always be to sign clients that could potentially end up being worth over 6 figures.