FUTURE TRENDS IN COACHING

The last few years have seen a sharp rise in the coaching sector. For example, between 2017 and 2022, the Life Coaches business in the US alone is expected to increase at an average annual rate of 3.7%.

Why is it expanding so rapidly?

Wellness and personal development are growing in popularity, and professionals in these fields are getting more respect. Additionally, technology facilitates cross-border communication with life coaches.

Here's another illustration of how the market's worth has grown during the previous ten or so years:

Source: Coachfoundation.com

The estimated 1.34 billion dollars solely apply to the United States. Thus, consider how large the global market is!

As you can see, there is a steady increase in both the supply and demand for life coaching.

Also, a lot of people were aware that, following the epidemic in 2020, they may perhaps work from home. For a few, this meant working for themselves. For some, it meant leveraging their current knowledge to launch a life coaching company.

More than before, there is also a low entry barrier. Startup costs are relatively minimal after you have all the abilities necessary to properly train a client. Even without a website, you can launch a coaching business and begin taking payments with a free Paperbell account!

Having said that, there will be a lot of competition because of the low entrance hurdle. Because of this, it's getting more and more crucial to set yourself apart from other life coaches.

1. The shift to digital

Everywhere you look, you can see how pervasive technology is in our lives. 

Life coaching is no exception.

It's hard to stay ahead of the curve these days when prospective coaching clients can book and communicate with coaches anywhere in the world without updating their business and introducing virtual coaching.

But digitizing your company doesn't have to entail utilizing a ton of technology! With a minimal tech stack and extreme simplicity, you can nonetheless operate a "digital" tutoring firm.

For instance, setting up a free Zoom account and a free PayPal or Stripe account isn't too difficult. They're also manageable. However, these two resources are sufficient to manage a straightforward but successful online tutoring business.

Is it perfect? Not exactly; you wouldn't have a scheduling tool or a means of recording all client notes. However, this proves that in an era of digital revolution, even those who are afraid of technology may succeed.

2. Emphasis on Mental Health

More people are seeking help outside of conventional treatment settings as a result of a shift in society's perspective on mental health issues in recent years. As a result of this increasing acceptance and understanding, coaches who specialize in stress management and anxiety reduction will probably see an increase in their clientele.

Nevertheless, not every coach is equipped to support their customers' mental health. Give this attention to individuals with the training if you lack the necessary credentials.

3. Personalized Services

The days of using a generalized, one-size-fits-all strategy for all industries—including ours—are long gone! 

Customers of today demand experiences that are tailored to their requirements, objectives, and tastes.

Life coaches must therefore employ adaptive and flexible techniques to meet the needs of a wide range of clients while upholding the highest standards.

That does not imply, of course, that signature coaching programs are no longer worthwhile. However, it does mean that to tailor your distinctive approach to each client, you must totally commit to them and spend the necessary time getting to know them if you wish to charge premium ticket rates.

After discussing the future of coaching, let's discuss a few more trends to look out for in the coaching industry!

1. Shorter coaching packages

The world is changing swiftly. And the lives of your clients are too.

Although providing coaching packages lasting three, six, or even twelve months can seem like a fantastic idea, I've noticed a trend where coaches are beginning to provide their customers with shorter but more intensive packages.

And both group and one-on-one coaching fall under this.

2. Greater responsibility for coaches, encompassing ongoing education

You've seen the statistics: there are more coaches available and more people in need of coaches.

Additionally, since it's so easy to become a coach, prospective clients may start expecting greater accountability from their coaches before they sign on.

How does this appear in real life? First, it implies that before accepting paid clients, trainers in all fields should become authorities in their fields.

Each person will have a different idea of what that entails, whether it be earning a life coaching certification or working as an apprentice under another. However, one thing is certain: earning the title of coach doesn't just come from finishing a 5-hour course or reading a book.

3.. Digging deep into your niche

Coaches who wish to earn a larger share of the pie will prioritize narrowing down even further as the coaching market grows more crowded.

Tens of thousands of life coaches are available. However, how many of them share your precise skill set, experiences in life, and personality?

Because of this, delving deeply into coaching specializations will only grow in significance. 

4. Asynchronous Coaching

There is nothing better than working one-on-one on Zoom or in person with a customer.  Or is that accurate?

Traditional coaching sessions have many benefits, but asynchronous coaching and assistance are becoming more popular.

Not everyone has the same wants, after all. While some people find it difficult to communicate with coaches over video conferences, others want constant encouragement to reach their objectives.

For instance, Loom videos allow you to offer customized help and feedback. It is possible to provide a full coaching program without ever speaking with a client using platforms like Loom!

Another growing trend in coaching is Voxer. Not only is it simple to send a brief voice message to assist a customer from any location—even while out for a morning stroll—but clients can also receive your support in more convenient methods.

This way, they won't have to wait until your next call to receive mentoring from you if they encounter obstacles.

5. Promotion with videos

Video marketing is becoming more and more crucial to making coaches stand out in the wake of the popularity of Facebook, TikTok, and YouTube.

For example, did you know that in 2022, video accounted for 82% of all Internet traffic?

6. AI for marketing and coaching

With AI, coaches will be able to devote almost all of their time and effort to doing things that are unique to humans, including forging closer bonds with their clients and coming up with ground-breaking new concepts. 

 7. Expanding the coaching profession

Serving those in your immediate vicinity or even those in your own nation is no longer a must.

Obtaining tutoring clients worldwide is getting easier than it has ever been! And this is much truer when you consider asynchronous coaching.

This means that, as a coach, you must stay current with global trends as well as local ones.

8. Extended periods for sales

You should anticipate longer sales cycles for coaches in B2B markets, such as executive coaching, business coaching, and related specializations.

This means that you will need to prioritize both your short-term and long-term nurturing plans more and more.

You need to consider more than just your upcoming sale if you want your tutoring business to last. You'll need to plan how you're going to continue to regularly engage with your audience of prospective customers for years to come.

9. Systemising coaching business

Lastly, the digitization of online coaching has made it possible for coaches to create dependable systems that help them manage their businesses more successfully. This entails giving up on antiquated techniques like:

• ü  pursuing money from clients by email
• ü  DM-ing each other to arrange a time for your appointments.
• ü  manually recording who still has coaching sessions left with you.

In the future, your consumers will demand more from your trainers. Furthermore, if you're overburdened with the hectic work that comes with running a business, you won't be able to show up with greater impact.

It's no longer the case that coaches must rely on generic apps that weren't made for them. A growing number of software firms are creating solutions tailored to specific markets, such as trainers!

Source: Paperbells