Building Bridges to Success: How Offering Financing Options Can Fuel Coaches Expansion and Client Acquisition
Published February 29, 2024
Building Bridges to Success: How Offering Financing Options Can Fuel Coaches Expansion and Client Acquisition
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Potential clients who are looking for training programs like those you offer may be interested in your services but reluctant to enroll because they don’t have the funds available to pay the sign-up fee in one lump sum. That can lead to a reduction in clients which only threatens to jeopardize your business.
But many professionals, just like you, have found a way to maintain a healthy influx of clients and achieve financial success by offering a range of financing options that give a client access to the training program they want by lowering the obstacles to paying for the cost of enrollment.
When you work with Fund My Contract, you can address the specific needs of your clients by tailoring multiple financing programs that can make a positive impact on your clients regardless of their ability to pay in full at one time or opt for a series of low monthly installments on a flexible payment plan.
Your coaching skills are in demand, now you can support your clients in more ways than one by providing the highest level of expertise while putting your customers in a more advantageous position to pay for the cost of enrollment.
Expanding Your Business
The challenges of growth and expansion are common across every industry, regardless of the product or service you offer to the public. If you aren’t attracting more new potential clients to your business while maintaining those customers who are familiar with your skills and earned your trust.
You can’t grow your business if you aren’t generating revenue on a consistent basis. Your customers want to take part in the course you offer or hire you to work with them as a coach in a one-on-one capacity, but they can’t afford to pay for your services right now. As a result, they wait until your training fee can fit better with their monthly budget.
So where does that leave you and your coaching business? There is no telling when the customer will be ready to afford the cost of your course or one-on-one consultant fee and the longer you’re left to wait, the greater the risk of your business ultimately failing.
Sell Your Expertise to More Potential Clients
With financing options through Fund My Contract, waiting is no longer a part of the process. Providing your clients with a menu of possible financing programs can make your coaching and training services more affordable by giving them the ability to pay for the services they need over a series of low monthly payments that can fit into anyone’s monthly budget.
When you work with our network of third-party lenders, you can design financing programs that can make it easier for a potential client to join your coaching or training course. Whether the client wants to pay for the course over a series of low monthly payments or prefers extended terms allowing for more time to reimburse the financing, the programs you choose to provide the public are fully customized to fit your business and meet the needs of your clients.
Get Paid Upfront and In Full
The Fund My Contract model for coach financing is a win-win scenario for the two primary stakeholders involved in the transaction. For you, the coaching entrepreneur, your capabilities for client acquisition increase by making your courses more affordable to a wider range of prospective clients.
Those potential new customers gain access to your expertise and knowledge with the ability to participate in your courses without having to pay for the entire cost of the course upfront and in full.
But with Fund My Contract financing programs that doesn’t mean you are getting your funds in increments. The way our financing programs work is very simple and straightforward. Any client who applies to participate in one of the financing options you offer – and is approved for the funding they need to take your course – gains entry into your course and you get paid upfront and in full. The client makes his or her installments as per the financing agreement directly to the lender with whom they have entered into an arrangement.
That allows for revenue to be paid into your business faster and with more consistency so you can meet your sales projections with more accuracy and continue to help more clients who are seeking out the services that you offer.
Increase Customer Satisfaction
The importance of customer support can’t be denied when it comes to finding success in today’s competitive market. When anyone is searching for a product or a service, they always look to the Internet, visit the website that offers the product or service, and above all, read customer reviews to get an honest account of the quality of that product or service.
Customer reviews are crucial to the success of any business and when your clients are given access to the financing they need to participate in your coaching or training programs, you can bet they are going to include that information when they tell others about their experiences in your coaching seminar or course.
When you can put robust purchasing power into the hands of your clients by letting them decide how they want to pay for your coaching services, you are leading by example in showing the confidence of your commitment to being an authority in your chosen field. You realize that you can make your customers thrive by giving them the tools for achieving success by providing them with options for financing your classes.
Should they wish to exercise those options, they will find that working with our network of third-party lenders is effortless and approvals are fast for those who qualify. The experience will be worth writing about when they offer customer reviews, with A+ satisfaction ratings for the financing programs you offer and the value of the coaching programs you provide to clients.
Turning Clients into Approved Applicants
When you have a potential customer who is eager to take your coaching course but isn’t sure how he or she plans to pay for the enrollment fee, their first response is to wait and see if they can afford it the next time around. That doesn’t help anyone succeed.
But with financing programs through Fund My Contract, you can increase client acquisition by letting potential clients know that you offer financing from the get-go.
This reduces the opportunity for objections to converting on a sale and allows you to enroll another client into your training program. You have many options for making your customers aware of your financing options even before they have to make a decision on how to pay for the coaching services they need. Some customers may be more than happy to pay the cost of your services all at one time, in cash.
But for those who want to participate in your courses but aren’t able to fit it into their budget right now, you can begin the process of alerting them to the many different financing programs that you offer by mentioning that financing is available in your marketing materials.
Whether you get the word out on social media, advertise with pop-up ads online, or prefer to rely on the reviews of happy customers who have taken your courses and utilized your financing options already, the more methods you use to create a buzz about your business should also be the key components for announcing that your coaching courses offer financing to those who qualify.
When a client wants to apply for one of your financing programs, all they have to do is fill in some digital forms on Fund My Contract’s innovative online portal. The client will be asked for some basic personal information and the amount needed for financing.
Faster Approvals to Help You Grow Your Business
The client can find out if he or she is approved in just a matter of minutes through the portal. How a client gets approved takes into account a variety of important factors that create a clear picture of that person’s ability to reimburse the funds in a reasonable period of time. Many individuals who may not think they can get approved because of their credit score will typically find they are mistaken, because credit scores and history, while part of the analysis of each application, aren’t the only determining factors that can make or break an approval.
There are other components that play a role, such as debt to income ratio, employment history, how long that individual has been at their current place of employment, and whether or not the individual has any bankruptcies or unpaid claims on their credit history. The amount requested for financing is also taken into account when deciding on an approval.
But that comprehensive outlook on each applicant works to make your business grow faster by getting more clients into your programs, generating revenue faster, and boosting customer satisfaction.
The Funding Goes to Your Business...Not Someone Else
The development of your business is paramount to you and to our team of coach financing experts. That’s why we ensure that all funds that are approved under the financing programs you offer to your clients can only be spent with your coaching and training business.
For example, suppose a client wants to enroll in one of your courses but can’t pay for the full lump sum in cash. He or she applies for one of the financing programs you offer and gets approved for the amount it costs to enroll in your course. But, for whatever reason, that client decides at the last minute not to take your course.
What about the financing that was approved for that client? He or she is unable to use those funds with another coach or consultant and they certainly can’t go spending the money elsewhere. This closed-loop financing permits the client to spend those funds on your business and your business alone.
You’ve put in the hard work to acquire that client and pitched him or her on your financing options, it’s only fair that your hard work is rewarded with revenue generated from giving the client access to financing at low monthly installments that are affordable, with a competitive rate and flexible terms that are complementary to the individual applying for the financing in question.
Gain the Competitive Edge
It’s a crowded marketplace out there. There are plenty of other consultants trying to make names for themselves and more than willing to acquire your potential clients with fancy gimmicks, introductory prices, and all manner of other promotional efforts to bring new customers into their classes.
But you have confidence in your ability to help people find success in their pursuits. Sometimes you need a little something extra to generate revenue at the pace you’ve projected. That’s where coach financing can fuel expansion and client acquisition over the other guys. When you can give your clients the choices they want to meet their specific needs with financing the cost of your consulting program, you are putting your business at a competitive advantage over the rest.
If clients can afford your coaching programs but are unable to pay with cash in one lump sum, then you are cutting off a significant portion of customers who want to pay for your services but are unable to do it within their means at this point in time.
But when you can give them choices of how to pay and enable them unfettered access to financing options that let them pay for your services over a series of low monthly payments and flexible terms, you acquire more clients faster.
Talk to Fund My Contract Today
Consultants who are not offering financing to their clients at the rates and terms you can find with the network of third-party lenders through Fund My Contract are putting themselves at a serious disadvantage. Why not give your potential and current clients the choices they want for taking your classes?
It’s time to call Fund My Contract and discuss all of the ways that coach financing can put your business on the road to financial success.
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