One of the most important aspects about your coaching marketing plan is to define your niche. A niche is a focused or a specialized targeted area that you can serve exceptionally well and which differentiates you from the competition. The smaller and more specific it is, the better for your coaching business.
Why is it needed to define a niche?
You need to define a niche for your coaching business because having a defined niche and a target audience will help you get the clients who are in need of your services and would stay for a long period.
To help you understand better, here's a question for you:
If someone offered you a simple coaching program that is created for any kind of a person and every person against a coaching program that is uniquely catered to solve your pain points (such as pregnant women who want to have a healthy diet, fathers who want to improve their health, young adults who want to gain muscle), what would you choose?
I guess it goes without saying that you'd go with the latter option, won't you?
Furthermore, let's understand a few more reasons why having a niche is important for a high ticket coaching business:
- Helps keep a consistent stream of high revenue as most of the high ticket niche customers stay for the long term
- Increases brand awareness through means such as word of mouth and helps in getting new customers
- Keeps you maintain high level of service which increases the credibility of your coaching business
Now that you understand why having a niche is important for your coaching business, let's also understand how to find the best paid coaching niches and which best paid coaching niches you can adopt for your coaching business.
How to Find the Best Paid Coaching Niches
Finding the best paid niches for your coaching business can be broken down into 3 simple steps:
- Identifying high paying problems that you can solve
- Choosing the most profitable problems out of the identified ones
- Narrowing your coaching niche
Step 1: Identifying high paying problems that you can solve
The first step to find your best paying coaching niche is to identify the problems that you are good at solving for which you can get paid well.
A rational person is usually willing to pay in 3 situations:
- When they pay to be the desired version of themselves. For example, a person may want to be more fit, smart, etc
- When they pay to have more control or authority. For example, having more money, freedom, etc
- When they pay to feel positive emotions. For example, a person is willing to pay to feel confident, happy, stress-free, etc
How to identify such situations?
Observe what's going on around, what the people are paying for, what kind of service your competition is providing and who they are targeting with those services.
Go online and find out what most people are searching for. You can join various Facebook groups that are similar to your business to engage with people and understand their mindset and pain points better.
Compile all the information you gather to identify as many high paying problems as you can.
Step 2: Choosing the most profitable problems out of the ones identified
The second step is to analyze all the information you gathered and choose the most profitable out of them. Compare your analysis with what you're already doing and understand how you can make your existing plan better with a high paying niche.
It will be much easier if you're able to work in the area you already have experience in. If you don't have knowledge about what you're doing then how will you solve the clients' problems?
Some of the most common best paid coaching niches are life coaching, health coaching, nutrition coaching, wellness coaching, relationship coaching, and mental health coaching.
Step 3: Narrowing your coaching niche
The last step is to make your niche as specific as possible. It might feel like being specific might make you lose business but, in reality, when you're new to the industry, being specific about how you can help certain kind of people will actually help you stand out form the competition and build a brand value for your coaching business.
For example, providing career coaching to everyone is not as appealing as providing career coaching to recent high school graduates.
Best Paid Coaching Niches
Now, let's dive into the 18 of the various best paid coaching niches that you can adopt for your coaching business:
- Health Coach
A health coach helps people improve their health, fitness and wellbeing. They help to stay fit both physically and mentally.
For example, you can help teenagers by developing a healthy diet or a workout plan for them to eat better and stay fit during the age where they need high nutrition and need to build strength.
- Weight Loss Coaching
A weight loss coach, as the name suggests, helps people lose weight. You can narrow it down by focussing on more specific type of people such as women who have recently given birth.
- Nutrition Coach
As a nutrition coach, your main work would be helping people eat better. You can target specific people such as people who have diabetes, people who are vegan or people who have some severe allergies to certain foods.
- Muscle Gain Coach
A muscle gain coach usually helps people become more fit and stronger. You can target skinny young men who are looking to bulk up and build strong muscle.
- Sleep Coach
As a sleep coach, you'll help tackle various sleep issues that people face. You'll give them support by helping them understand the causes behind their poor sleep and what they need to do to sleep better.
For example, you can target people in their late 40s who struggling with sleep due to stress of managing work, maintaining their relationships and keeping themselves fit.
- Stress Coach
Our lives are becoming more and more stressful each day. As a stress coach, you'll help people manage their anxiety and stress. Find the people who struggling with this and are looking for solutions to manage their stress so it doesn't affect their health, work and relationships.
- Relationship Coach
This type of coach teaches people how to manage relationships better and maintain them longer while being happy. They can also help people in understanding how to establish new healthy relationships.
- Parenting Coach
A parenting coach or a family coach can help maintain good family relationships and help parents understand their children and be better parents for them. Such a niche can be vulnerable area so you should be professionally qualified and have enough experience to tackle such issues.
- Birth Coach
This kind of a coach helps women who are pregnant or have recently given birth. They help them understand how to manage various stages and take care of themselves and the baby.
- Dance Coach
As a dance coach, you'll help people dance better. There are various people you can target as a dance coach. For example: People who want to become professional dancers of a specific genre, couple dancing, kids who want to learn dancing, etc
- Photography Coach
A photography coach helps people become better photographers. There are various specific areas that you can target such as wildlife photography, professional fashion shoots, etc.
- Career Coach
A career coach provides advice and counseling relating to a person's professional life. You can narrow your niche in this to a people at a specific stage in their career. For example, students who have recently graduated from their college or a person who wants to change his field of work.
- Productivity Coach
A productivity coach helps people reach their goals by becoming more effective and efficient. Usually, people are not looking to become more productive. Rather, they are looking to have time to do the things they love such as spending time with their family, going on a holiday, etc. Understand people's mindset and spread your message accordingly.
- Communication Coach
As a communication coach, you'll help people get better in different types of communication skills. For example, you can help school students get better at public speaking or help adults communicate better in their offices.
- Financial Coach
This type of coach helps people with their finances. This can be by developing an investment plan or helping people understand how to make a budget and follow it effectively.
- Business Coach
A business coach helps people learn how to set up new businesses or grow existing business. You can target young adults who starting up their first business and help them understand various practical nuances of running a business right from scratch.
- Sales Coach
There are various skills a person needs to learn to be good at sales. As a sales coach, you'll help people learn how to get better at communication, build connections and close deals. You can either help people who are in small and medium businesses or people working in large scale IT and enterprises.
- Retirement Coach
As a retirement coach, the main purpose would be to help people who are retired or about to retire understand where they can invest their money and other assets and how they can enjoy their life yet stay financially stable accordingly.
Remember to research the market and understand the the trends ongoing right now along with studying your competition to get a better understanding of the industry. Align your learnings with your knowledge and experience to select the best niche for your coaching business.