In the last article, I introduced the concept of offering your own coaching program to expand your business and I promised you seven reasons why you should do it – here’s #1.
Reason One – Coaching Builds Credibility and Authority
Credibility is defined as: capable of being believed, believable or worthy of belief or confidence. In business, credibility can be achieved through a number of experiences or actions.
For example, if you provide a fantastic customer experience then you earn credibility with your customer. Also, longevity enhances credibility. A customer may be more likely to buy from a company that’s been in business for twenty years than one that has only been around for two.
Credibility can also be improved by establishing yourself as an expert in your field. Publishing is one way that many business owners seek to establish and boost their credibility. Coaching also helps establish credibility. When you position yourself to coach others, you’re essentially telling the world you’re an expert in your niche.
Authority is a bit different than credibility. Authority is achieved when you’re considered to be an expert in your field. For example, Donald Trump is an authority on commercial real estate. Authority and credibility often go hand in hand.
Why Does It Matter?
Both authority and credibility are buying triggers. They motivate people to become customers. Robert Cialdini discusses them at length in his book The Psychology of Persuasion [http://amzn.to/OYBYgH]. Essentially, people are more likely to buy from someone who they trust or they consider to be an expert in their field.
How Coaching Fits Into This Equation
Imagine you’re looking to train your dog. Perhaps your dog has begun to misbehave. You’ve hopped online to search for information about dog training. You find two websites that have information that’s helpful. One site offers an information product, a video series, on training your dog. The other site offers a similar product and they also offer coaching. Everything else being equal, you’re more likely to buy from the website that offers coaching.
Why? Because coaching implies they have expert knowledge. And if the website has testimonials supporting their coaching program, they’ve amplified their authority and credibility. They’ve set themselves apart from their competition.
You too can add a coaching program to your business and set yourself way above your competition. You’ll give your prospects and customers an impression that you have more authority and credibility simply because you coach. And you’ll have more credibility and authority with your coaching customers, which results in loyalty and repeat purchases.
Finally, the media often consults businesses with a credible and authoritative presence as well. You may find that coaching opens up a whole new world of possibilities and marketing opportunities.
Next – How Coaching Helps You Brand Your Business
