A Business Coach Who Quit Her 9to5 And Now Makes $1 Million In Profit A Year Shares Her Pricing And Marketing Strategy
- Jerichia Hook is the founder of Leverage, an online coaching company for women of color.
- He quit his job as an engineer to become a full-time trainer and started meeting his clients.
- So he developed an evaluation process and a video strategy to get people to buy his services.
When Jereshia Hawk started coaching in 2016, she was selling low-cost educational PDFs and online courses while working full-time as an energy consumption engineer. He was headed for a management position, but worked his way up the corporate ladder to become a full-time entrepreneur.
Hawke was unhappy with the underrepresentation of black women in engineering and wanted to do work that would close the racial wealth gap. Began planning for the May 2016 release.
"I asked myself, 'In the season I'm currently in, what's the most profitable series I can do?'" and "Where can I offer the best value with my skills at a reasonable price? "
To answer these questions, Hook founded Leverage, an online coaching company for women of color working as entrepreneurs and coaches. Hawk has set a goal of earning at least $80,000 more than his previous salary. After 14 months, his business revenue exceeded his and he quit his job in July 2017. By 2021, she was making over $1 million in annual revenue.
It uses an onboarding process, premium pricing, and targeted marketing to generate seven-figure profits.
Start identifying qualified leads
As Haque began sharing business tips with his fans on Facebook Live, he received several requests for coaching from viewers. He didn't know the industry, so he researched the world of online education.
After launching her first show, she hires her own coach to help her develop her skills and business model.
Hawke's next step was to decide what service he would provide, using the skills he had learned in his previous roles. He gained his sales knowledge working in food service, retail and engineering. As an engineer, Hooke learned to create processes and find inefficiencies and common patterns.
But Hawke knew that if he was going to get the results he wanted, he had to not only be a good trainer, but also find clients who matched what he had to offer.
A qualified user 'Can I help you?' an identification step is missing. Eligible people who have identified themselves as having a serious problem. "Understanding this difference is something that helped me a lot in the beginning."
Hoque has found that its training program attracts people who are recognized for their expertise, who know how to share their vision well and who are looking for development opportunities; He decided it was his most valuable knowledge. High-profile clients include Kathy Romero, the event planner behind contracts such as BET's "The Mane Event."
Hawk's marketing content is designed to reach potential customers at different stages of brand awareness. Potential customers go through an internal process that includes an application to determine a niche in their business. Haq says he's looking for clients who have a sense of urgency to grow their business and who are stable enough to implement a growth strategy.
Fixing prices through the practice of "moral quotas".
Haq said he rates his service on the value it can bring to the customer, a practice he calls "ethical billing."
He said that every time he raised the price of his software, it was based on an increase in the value he could provide.
When Leverage launched, it was a four-month program that cost $5,000 and included two coaching calls per month. Hawk estimates that its clients enroll at least three shoppers in their programs and raise $3,000 or more. In his first batch, he said, all of his clients achieved this goal.
Hawke iterates its software and changes prices based on this customer data.
The 12-month Now Leverage program costs $15,000 or $18,000 with a payment plan and offers group coaching calls as well as one-on-one training and a written program to teach clients how to market, sell and scale their company, but beyond. Focus on being able to sustain those results on their own.
Use video to attract customers
Attracting clients able and willing to spend $15,000 on a training program requires careful and thoughtful marketing. For Hook, social media plays an important role and videos make up the bulk of his content. He said he focuses on video because social media algorithms prioritize it, and he thinks it allows him to quickly build trust with his audience.
"People can hear you. They can see you. They can read your body language and know who's behind the camera," Hook said.
Hawke broadcasts live twice a month and spins reels and other posts for her 41,000 Instagram followers. Hawk's videos answer questions about what it takes to start a team training program, what successful trainers have to offer their clients, and how to develop insights for business decisions. Haque says he and his marketing coordinator create content to talk about the personality, values, beliefs, thought processes and consumer questions that influence how they make purchasing decisions.
“We're almost making a content hive where we have honey and potential customers want to come to us, instead of behaving like sharks and attacking people,” Hook said.
Maintaining that humanity and addressing the needs, concerns and fears of his qualified connections, Hook said, allows him to feel comfortable investing in them.
"We treat our social media platforms much like Netflix. We know that if a potential customer consumes about four hours of content, they're ready to make a purchase decision," Haq said. "So we try to create dual content that matches their personal way of working. Then we do a DM or a sales call to have a conversation and understand their needs."
Hook also considers potential customers who engage but choose not to as successes. Marketing isn't about saying yes to everyone, he says, it's about making decisions that matter to people. He adds that when potential customers say no, often because they don't see the value of the program or don't need the proposition, he uses that insight to refocus his marketing strategy to attract better leads.
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