When is the right time to start creating one to many offers in your coaching business?

Business

When is the right time to start creating one to many offers in your coaching business?

Business

Are you a health or life coach thinking about venturing into the world of one to many offers, but feeling unsure about when is the right time to do so? In this post we’ll be exploring the key factors you need to consider before diving into creating your first one to many offer.

One to many offers are anything you’re creating to sell that is designed for more than one person to use or participate in, like a course, group program or membership, unlike your 1:1 coaching offers which are, obviously, delivered 1:1. When it comes to creating them in a way that makes sense for your business goals, there’s a few things you might want to consider and that’s what we’re going to explore in this post.

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My experiences with one to many offers

I’ve been creating one to many offers for many years, including since when I was a health coach.

My first one to many offer was a PDF called the Super Conscious Living Guide, and ever since I created that I’ve experimented with lots of different one to many offers such as courses, group programs, memberships and ‘hybrid’ offers that were a mix of different traditional one to many offers.

I often joke that if there’s a way to make money online as a coach, I’ve probably tried it! So I have quite a lot of experience with what works, and what doesn’t, when it comes to one to many offers.

Before we dig into the strategy and nitty gritty of it all, it is worth noting that sometimes creating these kind of offers is about more than just meeting a business goal of growth or income. Creating one to many offers can be a creative outlet and simply good fun! If that’s you, then don’t stress too much about some of the strategic things we’ll be looking at soon.

You’re allowed to have fun in your business! Alongside this point, it’s also good to remember to not think too much about what other people are doing in their businesses. It can be easy to compare, and get shiny object syndrome, or think that you’ll achieve the same result in your business as someone else has in theirs with a similar offer.

Follow what makes sense for you and your business as a first tip!

Your 1:1 offer

Often people will create one to many offers because they aren’t selling their 1:1 coaching package. It might make sense on paper to think that creating an offer that isn’t as highly priced as a 1:1 coaching package will be more accessible and therefore easier to sell – however this is rarely the case unfortunately!

The other thing to consider with 1:1 offers is when the reverse is true and your 1:1 coaching is selling really well! This can be the single biggest indicator that it’s time to start exploring one to many options. Don’t wait until you’re fully booked though, once you’re at around 60% – 70% booked up it might be time to raise your prices and start looking at one to many offers.

Look at the numbers

Something else that can make sense to look at is the numbers in your business – these can indicate whether or not a one to many offer is going to make sense at this stage. Look at the price of the one to many offer you’d be creating, and your audience and community size.

A very, very rough conversion rate is 2-5% – although this can differ wildly in different businesses and industries. So for example, if you have a list size of 1000 people, you might expect to sell between 20 and 50 of your one to many offer.

This conversion rate is also impacted by price, and the way you’re going to sell the product…

How you’ll sell the product

Alongside the numbers, asking yourself how you’d need to sell the product is helpful too. Another extremely rough rule of thumb is that the lower the price the more automated the selling process can be, versus the higher the price the more ‘manual’ the selling may need to be.

When people are parting with a higher amount of money, they’ll more likely want to have a discovery call or connect with you in some way. This is just another thing to factor in when looking at pricing and the form your one to many offer might take.

Current business goals and intentions

Aligning your one to many offers with your business goals is also really key. Consider what you want your business to look like, how you want to spend your time, and what income levels you aim to achieve.

If you want to spend less time working with people 1:1, it can make a lot of sense to look at one to many offers, which in turn will have an impact on how you might approach your marketing.

For example, if you really want to focus on lower priced more passive offers, you’ll need to focus on marketing and attracting a higher number of people to grow your audience to make that offer profitable – but that all depends on your income goals!

Offer viability

Alongside looking at whether or not a one to many offer can meet your income goals based on your audience size, there’s other aspects of checking that an offer would be viable that makes sense. Doing some market research and maybe even pre selling your offer could be helpful here.

It’s not just about the offer itself

Obviously it would be great for any one to many offer to sell like hot cakes and make us $$$$$, however, even if your one to many offer idea isn’t immediately profitable in its own right, there’s other ways creating a one to many offer can benefit our businesses.

When we create a one to many offer that’s focused on a specific topic, it can help to position us as a coach and an expert in our niche. This in turn can support us to attract and convert clients in our 1:1 offers.

With regards to low ticket small digital products, these can have strategic significance in several ways. They can almost work like paid lead magnets that build your list. They can also be used to help you participate in bundles which will also help to build your list.

If you don’t currently have the community / audience size to make a one to many offer profitable in its own right, it can still form part of your wider business model in a multi offer coaching business and you can also sell the offer to people as they join your list – so you sell as you grow.

Next steps

There’s no hard and fast rule when it comes to the right time to create one to many offers – rather you’ll want to look at your overall business and life goals, look at your community size and how you might want to sell.

If you’re easily attracting 1:1 clients then that’s a good indicator that a one to many offer would make sense, but as we’ve explored above, there’s lots of other reasons why creating a one to many offer might make sense at this point in time.

Of course, creating these offers takes time, and part of deciding if now is the right time in your business will depend on if you actually have the time to build, create and sell it.

I have two programs that can help you with one to many offer creation, check out Create Your Aligned Offer which is a comprehensive course on creating offers in health and life coaching businesses and Super Simple Passive Income – which teaches a simple way to create a small digital product.

I hope you’ve found this post helpful, let me know if you’re going to create a one to many offer in your business in the comments!

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