Client-centric Growth: The Role of Financing in Expanding Coaching Services and Attracting More Clients
Published March 01, 2024
Client-centric Growth: The Role of Financing in Expanding Coaching Services and Attracting More Clients
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Loyal customers can be hard to come by if you fail to continue delivering exceptional customer experiences. Customer satisfaction in the form of glowing online reviews goes a long way toward ensuring the success of your coaching service company.
What about those potential customers who want to hire your services but are unable to afford the cost of the courses? In the current climate of today’s highly competitive marketplace, the importance of customer acquisition cannot be overstated as a small business’s success is prevalent upon a consistent influx of both enthusiastic new customers and existing customers who return for further training courses and recommend your business to friends and colleagues.
But if a customer is unable to pay for your services, that’s a customer loss and revenue you aren’t generating to help you grow your business.
When you can offer an alternative to help make your services more accessible to the customers who really need it – but can’t afford to pay the enrollment fee in one lump sum – you are putting increased revenue into your business and giving your customer the opportunity to increase their spending power as a result.
Customer-centric companies thrive because they deliver a customer experience that is unavailable elsewhere with another company, organization, or service provider. When you can offer access to coach financing for your customers, you will find that you are attracting more clients and boosting customer satisfaction. That puts your company in the spotlight and gives it all of the best opportunities for growth.
The Customer-centric Approach to Conversion
Your coaching business can achieve sustainable growth by focusing on the customer’s experience in the enrollment process and in the services you offer. Your valuable insights are centered within the area of expertise that has made you a trusted authority as a coach or consultant in a particular field.
You’ve already established yourself as an expert with a deep understanding of how to help others succeed and avoid the pitfalls that come from dating, relationships, career changes, recovery, or whichever field you offer the tools to excel. But when you offer financing programs to give your customers a choice of how to pay for your services, that customer-centric mindset is well-rewarded with more customers choosing to enroll in your coaching courses.
Now you can place yourself in a position of learned authority yet again by giving prospective customers the ability to pay for your coaching and training services with financing models that can fit any budget.
When a customer wants to enroll in your course, the biggest pain point to the conversion of a sale is the cost. This is regardless of the fact that many of them have probably sought you out specifically because your courses have received positive word of mouth from previous customers who have benefitted from your coaching.
That kind of customer loyalty can give any business a tremendous competitive edge, but what good is it really doing with respect to attracting more customers…if those potential customers don’t sign up due to the expense
The answer isn’t lowering your prices or offering promotional deals on your services just to get people in the door. The better solution is coach financing through Fund My Contract.
When new and existing customers recognize your business has a customer-centric focus by offering different ways to pay for your service, this reduces the barriers to conversion.
Meet Your Customers Needs with Financing Options
Working with Fund My Contract allows your business to maintain a customer-centric approach by offering a variety of financing programs that meet every customer’s financing needs. For some customers, it may be the ability to pay for your services over a series of low monthly payments, while other customers may appreciate having more flexibility on terms for financing your fee, and still, others may want to take advantage of a low promotional rate on the financing agreement.
You know your customers best, so you can select the financing programs you wish to offer based on customer preferences for financing. The choice is yours and when you work with Fund My Contract’s network of third-party lenders, coach financing can be one of the best customer retention strategies at your fingertips.
Coach Financing Helps You Meet Your Business Goals
Expanding your business allows you to help more customers. Financing can help you expand your business. When a customer wants to enroll in your course but is unable to pay the cost of the fee upfront in one lump sum payment, they will move on to another coach or simply go without the training and guidance they need.
As someone dedicated to helping others reach their respective goals in life, love, career, rehabilitation, or whatever your line of expertise may offer, you never want to turn away someone who wants your help in meeting their personal or professional objectives.
When you offer coach financing through Fund My Contract, you can put everyone’s goals within reach. Working with our network of third-party lenders allows you to attract more first-time customers, build customer trust, and grow your business faster than you could ever imagine.
Benefits of Working with Fund My Contract
Free Enrollment, No Fees
Not only is enrollment into our program free, but you won’t be charged recurring monthly fees. Our network of lending partners is ready to work with coaching and training business owners just like you to develop multiple customer-centric financing programs that allow you to reach all of your customers.
Taking a client-centric approach to offering the right financing products to new customers is one of the many reasons why Fund My Contract is the innovator of the consumer financing industry. You know what your customer needs, our network of lenders works with you to make sure the financing programs you provide can help the most customers gain access to your services by giving them a menu of choices to pay for those services without using cash or putting the bill on their credit cards.
The rates that our network of lenders can offer qualifying customers are often far less than the rates on most major credit cards. Your target audience is relying on you to give them smart guidance, helping them reduce or avoid credit card debt will give them more confidence in turning to you for coaching and training.
Get Paid Fast, Get Paid Upfront
When you work with Fund My Contract to give new and existing customers access to financing programs to pay for your coaching courses, you get paid upfront and in full. No more chasing after unpaid invoices or spending half of your time collecting monies that are owed by your customers who show up to your courses without paying in full.
Once a customer applies for a financing program that fits their budget and gets approved for the amount they need to take your coaching course, the fee for that course is paid in full by the lender with whom the customer has entered into a financing agreement.
You get the full cost upfront. The lender is responsible for making sure the customer pays the installments at the agreed-upon terms that are outlined in the financing contract. Once you have received that money, it’s yours. All you have to do now is provide the customer with the coaching expertise they expect from your courses.
In the event the customer misses a payment or defaults on the financing agreement entirely, that’s not your responsibility. You keep the money that you have been paid for services rendered and the lender handles the matter of repayment.
Faster Approvals, Increased Revenue
Customers can get approved faster than ever before which puts more money into your business. This makes for a far more customer-centric strategy for attracting more clientele to your coaching and training courses. Faster approvals help to increase revenue and reach your sales projections.
At the time your customer wishes to apply for financing, our simple online platform requests some basic information from the applicant and, in minutes, receives an offer of approval for one or more programs in which they qualify.
The determining factors for approval don’t look solely at the applicant’s credit score and credit history. These are part of a larger picture that also takes into account the applicant’s employment history, debt-to-credit ratio, current income, and other factors that are all taken into consideration for approval.
This wide-ranging consideration of each applicant allows for more approvals, determined faster, so your potential customer doesn’t have to walk out the door without converting on a sale.
When more customers are approved for financing, that helps to generate more revenue for the business. More revenue helps your business expand and grow.
The Customer-centric Culture of Coach Financing
When you can establish effective communication with your customers, you are building customer trust and fostering long-term loyalty. Coach financing can benefit your customers and your business, but conveying the specifics of how and why is vital to navigating any objections or misunderstandings as to how the financing programs work.
Affordable Payments
Most customers who are concerned about paying for your services can afford the cost, they just can’t afford to pay it right now. It may be an unexpected expense that hasn’t been factored into the budget for this month or they need to save up to be able to afford to pay the full course fee in one payment.
But when the customer waits, that leaves your business waiting to bring in more revenue. The longer you wait for customers to decide when they can pay, the more likely your business is going to fail. How long should you wait to generate revenue to grow your business?
When you offer customers financing options to pay for your services, they don’t have to think about trying to fit it into a tight budget or save up to pay the cost in full. They can apply for financing through one of our third-party lenders and get the money they need fast. Now they can pay for your fee over a series of low monthly installments that can fit easier into the monthly budget or save up in less time to pay off the installment each month. All the while, your business has generated more revenue, the customer has enrolled in your training course to get the coaching he or she needs, and everyone is happy.
Gain the Competitive Edge
Customer-centric businesses offer their clients the best possible products and services at fair prices. This becomes even more important for businesses that are competing in a crowded marketplace. When a customer approaches you for coaching or consulting, they expect to get the best services available in your area. However, if they can’t afford those services, they will try your competitor and see if those services are available at a lower cost or, at least one they can afford.
You know your coaching services are the best in town at a fair cost. You can prevent your customers from getting sub-par services at lower costs by offering them financing options that can make it easier for them to hire you.
Financing through Fund My Contract offers your business a competitive edge and puts your customers first by giving them choices when it comes to hiring your coaching courses.
Call Fund My Contract Today
Our team of coach financing experts is standing by ready to answer any questions you may have about getting started with membership and working with our network of third-party lenders who want to help give your business the advantage. Coach financing is the client-centric approach to success that can expand your services and attract more clients in less time.
We can work with you to customize the best financing programs for your business and attract more clients who want access to your expertise and options for paying the enrollment fees over a series of installments instead of one lump sum.
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