213: Mastering Client Acquisition: Niching Down Strategies for Coaches - #GrowYourLife

Hey, everyone. Thanks for listening to the Grow youw Life podcast. This podcast is designed for coaches, speakers, mentors and trainers who want to make as much money as possible by attracting their ideal client and closing more sales using the Internet. If that's you, you're in the right place. Be sure to subscribe to the podcast. We've got over 200 episodes for people just like you, as well as the YouTube channel has over a thousand YouTube videos to help you grow your. Your business. I'm excited. Today we're going to talk about attracting your ideal client for your coaching, for your mentorship, and how to make sure that you get the right people to join you on that. There's a problem that ends up happening that I noticed with a lot of coaches, mentors and speakers in the beginning is they have a desire to help a lot of people, a wide range of people. And that desire actually ends up hurting their other desire of growing a business, because it's counterintuitive. They think that, okay, the wider I go, the wider net I cast, I'm going to impact more people all the time. That turns into less impact. It's very interesting, but it's because when we use the Internet to market, we're using algorithms and artificial intelligence and, and the artificial intelligence shows stuff based on what people are interested in. So if you cast a wide net, you're pretty much guaranteeing that you're going to get the wrong people that jump into that net. Instead, you want to get really specific as to two things. Who can you actually deliver results to? And who's going to actually buy what you're selling? Okay, this is such a controversial topic with a lot of coaches and speakers because they, they adamantly are like, but my message can help so many people. This is where you might need to let go of that attachment to needing to help a wide range of people and realize what's actually going to be effective. And by the way, see, here's what ends up happening with coaches. They cast a wide net. I'm going to help tons of people, and they maybe get 1% of the market that they could reach when they niche down. They're going to get the same 1% of people, but they're going to end up getting 10 to 20% of those people because the algorithm is trained that way. So this is what's interesting. Let's say that there are 10,000 people that you could potentially get this year into your business.

Okay.

And you might be saying, wow, like, only a hundred people would be amazing. Let's Just, let's just go with a hundred.

Okay?

Let's say you get a hunt. Let's say that this year you get a hundred people in your mentoring or your coaching. Just 100 people.

Okay?

And that's best case scenario. Honestly, most of the clients that we work with do way better than that. I get thousands. But for the sake of the example, whatever you can visualize, and let's say that that hundred is 10% of that market. Well, by casting a wide net, you're not gonna get 200. You're probably only end up gonna attract five to 10 people out of this hundred that you could get by actually niching down specifically. And so it's counterintuitive. Oh, I'm gonna cast a wide net. I'm gonna get all these people. And every single time it turns into way less people actually come in because of the way that the algorithms work, because of the way that using the Internet works today in 2023, we have to get very specific as to who we can deliver results to and who is going to buy from us. I can get a ton of people on my email list, but if they're the wrong people that are not a good fit for what I actually help people with specifically, and, and, and case in point, this right here that I'm talking about, a lot of coaches and speakers do not like because they see it as alienating a whole segment of the market, neglecting wonderful people that they could be helping. I'm sorry, but doing this is actually gonna be spinning your wheels and you're gonna struggle to actually reach the potential of what you're trying to reach. See, oh, my goodness. This is the paradigm shift, and it's a mental paradigm shift. A lot of people see, they're like wide net bigger numbers. No, it's actually lower numbers. When you cast wide net, the amount of people that you're actually going to impact is going to be greater when you niche down and when you don't focus on such a wider group of people, because the algorithms are going to find more people that are actually going to engage with you for what you spend and you're not going to lose money in your ad spend. So break up with the whole sort of ethical, like you might be seeing this and saying, that's not ethical to only target a small group of people. When I know my message could help all these people, I know that it could help all these people. I hear this so often from make impact the goal, not money. Well, would you rather impact only 1% or 10 to 20% by actually niching down. And so what it is, is you actually end up going deeper. When you get specific and attract the right group of people, the volume actually goes up. The number of people that you actually reach increases. This is the big lie that people believe about online marketing, is that wide net is going to bring in more people. It'll bring in more of the wrong people who will end up unsubscribing, being ungrateful, not liking what you're talking about, confused, and ultimately never getting impacted. All because somebody's ego needed to cast a wide net or they felt called to cast a wide net. I have a calling to reach this group of people. Great. But you're not going to reach them with that message until you niche down specifically to the right person who you can impact by attracting the ones that. That fit into the niche that gets results and becomes a buyer with you.

Okay?

Now, the people that I'm talking to, they want to make a quarter million to half a million dollars a year. So I'm not gonna be talking to anybody else who doesn't fit into that category because just quite frankly, none of what I talk about is even relevant. And you're not gonna be able to do anything that I talk about because you won't have enough cash flow.

Okay.

We use paid advertising to be able to do this, which is why having buyers is so important. How are you going to fund the paid advertising without buyers? You're not.

Okay.

And so that's a big part of that, is we have to get really clear on what do you do specifically, what is the value that you bring to the table specifically that you help coaches with. And this happens by getting as specific as possible with the result that you deliver to people and by being able to articulate it as specific as possible.

Okay.

For instance, I don't sell. I don't work with coaches and speakers that want to do offline seminars or things offline. And I don't work with people that don't want to use social media, and I don't work with people that don't want to make a ton of money. Now, obviously, some of those people do end up creeping in. And if that's you, I'm sorry you're listening to this. I'm sorry that you're. You're here. I can't help you. I'm. Everything that I teach is just going to be, like, foreign to you. You can either stay here and try to become that or turn off the episode right now. And for some of you, you're like, that's weird, Jeremiah. Why would you do that? Why would you say that? Why would you try to get people to leave listening to you?

Because.

This actually makes my impact go up. The algorithm shows my content based on how far people get through the podcast episodes, based on how far they listen to me, based on how far they go with me. And so if I have the wrong people, listening to my podcast doesn't help if I. But, you know, can't you just let people stay and listen? Be kind, be. Be nice, be. Be a nice person. Like I'm being rude or something, saying all this. It's. This isn't about me trying to control other people. This is about what is financially prudent for my business. And the number one thing that I prioritize in my business is making the most amount of money while impacting the right group of people. And so my goal is to repel the ones that are not a good fit in my messaging, in the language that I use. I want to make sure that they are nowhere near what I talk about, that they're nowhere near my call to action.

Okay?

This allows me to actually impact more people because it trains the algorithm specifically to hone in and laser focus in on the right group of people that we want to connect with. You know, I get a lot of nasty messages from people for saying this. Can you stop talking about repelling people? Can you stop talking about, you know, you don't want a certain group of people? It's not that I don't want you. Like, I love all people. I love people. But at the end of the day, if everybody starts listening to my podcast, I'm not going to have the kind of impact or business that I'm called to create that I know works. And this, for the last 20 years, has been consistent. Every time I deviate from this one thing of focusing in on who can I get results for and who can I help the most our business loses. Now, you might say, how is any of this relevant to me? It's a hundred percent relevant to you. And thanks for continuing to listen to this podcast episode. Why is it 100% relevant to you? Because you have to do the exact same thing in your business if you even want a chance to make money in your coaching business, if you even want a slight chance of making six figures, you're dead in the water. If you don't do this 100%. And you're not going to make the kind of money or the kind of impact that you want until you Specialize down as to getting very specific as to who you help. I hear a lot of people, they're. They're too much of a generalist. And there's a lot of teaching out there from a lot of coaches about how generalists make more money and things like that. That's in corporate America, by the way, that those teachings come from. If you want to make the most amount of money in your coaching and speaking business, you have to get specific as to who you can most likely help. And you do this by identifying what are the goals and desires of the group of people that you want to specifically work with. And for most coaches and speakers, they have no clue what these are. They have no clue because they have their message and they're too concerned about sounding like a professional and people listening to them and liking them. And their brain is not even connected to how you actually attract a group of people to you to actually purchase what you're doing.

Okay?

Most people that I meet, most coaches, most mentors, most speakers are mentally incapable of doing what I'm talking about right now because they're way too focused on everybody approving of them, everybody liking them, people pleasing, doing everything, quote, unquote, perfect and the right way and best practices, quote, unquote. And you're not going to make a half a million dollars plus doing that. You're just not. So you got to hone in on specifically who you can help, what are their pain points, what are their struggles? And this might be a big shift for you, this might be a painful shift for you. This might not be what you want to hear. I get that. I got a lot of people who want me to teach something else than this, but I'm not going to because this is what pays the bills. And so when you make it your mission to become relentlessly curious with your target market as to what they struggle with and what their goals and desires are, you can create what's called an ideal client profile, okay? And this is how we grow these businesses. We end up profiling a specific group of people. And listen, if you have a problem with profiling a specific group of people, nothing I say from this point on is going to help you, okay? By profiling who specifically you can get the most results with. And you do this by analyzing direct responses from people that come in on the Internet, okay? And then you solve niche specific pain points. So there might be a whole group of people out there that you can help with your message, but your goal is to find the people that you can deliver results to and who are going to be buyers. Let's say you got a hundred topics you could speak or coach on, but the group of people who you can deliver results. And when I say results, I'm talking about case studies, testimonies, producing actual tangible results people want and they will pay you money for. Maybe there's only five of those hundred topics. Then you need to stop Talking about the 95 topics that do not fit into this right here. You get what I'm saying, you get what I'm throwing down. And then you build a whole business around, expanding around these five topics that connect with these buyers and that deliver results. We did this with a number of our clients by paying attention to what does the customer want, what are they struggling with, and by making it important to figure that out and allowing the clients that we bring in to actually lead the conversation of our coaching, of our trainings, of our speaking, of our events and of our content.

Okay?

Client driven results driven messaging. Buyer driven messaging is what produces 500k plus results in your business as a speaker or coach. Trying to have all these different messages out here that may impact people, may help them, but do not convert to client results and buyers. Big fat waste of time. And by the way, once you get the results and you're making good money, go ahead and talk about more of these passion project topics. Go ahead and talk about more of these topics that don't directly relate to your bottom line.

Okay?

But you got to focus in on sales and marketing as the top priority in your business and focus on what are the specific topics as a coach and speaker that solve very specific problems. It's easier to sell a painkiller than to sell a dream. I'm going to say that again. It's easier to sell a painkiller than a dream. And so if you solve a problem for somebody, you alleviate a pain that simultaneously produces a dream result for somebody, you have a win win. And so you got to become curious, what are the pain points? What are the struggles? What are the goals of the people that I work with? What are the goals of the people that are most likely to spend money with me? And then how can I just consistently talk about how to help those people get their goals, how to get very specific profile, the ideal client profile of who is going to spend the most money with me and is also going to get the dream result that they want? We have clients that make multiple six, seven and even eight figures by using this framework. We have a lot of people who have come through our system in Our testing that didn't resonate with this message. And they're still struggling to get clients. The ones who actually resonate with this, who actually use this, they focus in on this part of the framework. It converts like wildfire. All of your offers, all of your lead magnets, all of your courses, all of your coaching, because you get very specific about who you're going to help, how you're going to help them, and delivering a result. Now, the problem that ends up happening here that I see most often is some people are like, well, well, I don't know how to help people. I don't know what to help people with. That's a whole other conversation. We have a podcast episode on actually finding your niche specifically. But when you find a niche, you're always going to get more specific, more specific, more specific niche down deeper and deeper and deeper as to what the desired result of your customer is. What is that desired result that they have? So, for instance, in my business, when I started, when I started in my business, and every six months, I end up evaluating my niche more and more. We've reevaluated in the last six months and are really dialing in on the ones who want to make the most amount of money. I do not work with coach or a speaker if they are not wanting to grow their email list right away, run campaigns, run ad campaigns, and increase the cash flow in their business. There's a lot of great coaches, a lot of great mentors, a lot of great speakers out there. I'd love to help them. They don't particularly connect with me. There's a lot of great coaches that can help those people. That's not what we niche down for. And so in the beginning, in my business I started, had a goal of I want to just help everybody who's on the Internet, okay? This is everybody who's on the Internet that has a business and wants to make money, okay? And I said, I can show you how to run paid ads. If you're somebody who's on the Internet who wants to make money, I'm going to show you how to build a simple website and run paid ads. That's a lot of people. That's a wide net of people. We've made very, we, we made very little money targeting this group of people. And what I noticed was out of this group of people, who was actually spending the most amount of money with me and who was getting results. Coaches and speakers and mentors and trainers. That's it. So over here, we got mlm, E Commerce Agency business owners, like graphics designers, people who run ads for other people, things like that. So I completely eliminated even trying to target or connect with this group of people. Pissed off a lot of them. They weren't happy with this. And focused my whole business about a year, about a year and a half ago, into this niche right here.

Okay?

And so then we did some testing, did some testing, and did some testing, and we found. Wait a sec. Okay, out of this group, there's a whole split, about 50% of them, 50% of trainers, mentors, coaches, and speakers. They do. They want to do everything offline. They don't want to do anything with. With social media. They don't want to do anything with the Internet. They want it all to be in person. And then the other group wants to do it all online and learn social media. And so I figured out, okay, I need to eliminate this whole offline group. I'm not trying to convince them that they should use the Internet. I'm going to focus on the group of coaches, mentors, speakers, and trainers that want to use the Internet to grow their business. Okay? Now, what we found is that there's a whole group of coaches, mentors, and speakers that they do not want to make money. They see money as a bad thing. And so that's where the market is then split for us is this is what we call impact first, impact focus, message driven. Just, you know, don't ask for the sale, very passive, kind of codependent. And then we have the group that is like actual business owners. They actually want to make as much cash flow as possible. And so what we've niched down in is coaches, trainers, mentors, and speakers who want to use the Internet to make as much cash flow as possible in their business. And that's who we help, and that's who we engage with, and that's who joins our programs, and that's who listens to our podcast. That's who we end up connecting with.

Okay?

So, but it started by me casting this wide net of all the people that were on the Internet and then getting very specific into the ones who want to make the most amount of money as quickly as possible and that are willing to learn new skills, that are willing to go put themselves out there, that are willing to take risks, that are willing to try new things. And listen, if that's you, then you're in the right place. This podcast is specifically designed for you. If you listen to my podcast episodes, you're gonna get a ton of results from what we talk about, and I address a lot of the things that hold coaches back, a lot of the things that hold mentors back. If we take a look at the previous podcast episodes, let's just take a look at this right, right now. The grow your life podcast. Here we got the wealthy coach mindset, how to get your mind right about making money. That was last week's episode. We got break free from victim mentality. What to say to close more sales on your live events. How to lower your ad cost with the feedback loop. How to use ChatGPT to help you with emotional healing and trauma. How to come up with killer content ideas, never run out of ideas. Launching when you have self doubt. How to sell fearlessly without cringe, hyper manipulation. These have been our podcast episodes since February. And so all of those, if that resonates with you, you're in, you're in good company. You're part of my group of people that best connects with us.

Okay?

And so for the people that don't resonate with that, I'm not sure why they would even listen to me. Maybe they want to learn something from what we talk about, but what we talk about very specifically is just how to make the most amount of money possible by selling and getting sales and delivering sales without hype, without cringe, without manipulation to impact people. Because trust me, we're impacting lives. I believe that coaches, trainers and mentors change lives, but we got to bring in cash flow first for that to happen. And how do you bring in cash flow? By getting more specific, more specific, more specific as to who you help, your ideal target client that you will deliver results to and who will become a buyer.

Okay.

And so what this does is this allows you to create your marketing campaigns, your language, your Facebook ads, your targeting to specifically target that group of people most often. And that's what delivers results. Okay, listen, if you're, if you're listening to this podcast right now, check out over at my website, Jeremiah krakowski.com we host live events often. You'll find them over there on my website. They're free most of the time. You can sign up for them, you can check them out to help you specifically growing your business. And this, you know, this month we're doing growing your email list and how to start your coaching business from scratch and, and, and, and how to use paid ads to get clients and how to launch offers that actually connect and scale coaching businesses to six figures. And so if that's you, if that resonates with you, make sure to check that out over at our website. Grow your life, everybody, and we'll talk soon. Have a good one.