The online coaching world has boomed due to Covid, bringing in lots of new players. This might make you wonder if there's still a chance for you to succeed among all these similar coaches. Well, the good news is Yes, you can! Even though there's more competition, you can stand out and build a successful practice. If you were unsure before, don't worry – you can definitely make a name for yourself.

I'll help you understand how to stand out. First, there are three types of markets you need to know about. Once you get that, there are three key words you must focus on to really make a difference and shine in the crowd. So, don't stress. You can do this, and I'll guide you on the path to not just having a successful business, but also making a real impact.

3 Market Types You Need to Know 👊

A. Commodity Market

A commodity is something that is easily replaceable by another identical item. The commodity market is a market where products or services are seen as interchangeable and their value is primarily determined by price competition.

In this type of market, customers view the offerings as similar and make decisions primarily based on cost. Health professionals being seen as commodities means that they are perceived as offering similar services, leading potential clients to choose based on the lowest price.

For example consider the scenario of dieticians. If three dieticians offer nearly identical services, but one prices their initial assessment at $80, another at $150, and the third at $275, potential clients might opt for the $80 option due to the absence of clear distinguishing factors beyond price. This illustrates how being in a commodity market can lead to a race to the bottom in terms of pricing and devalue the services offered.

Another reason to avoid the commodity market is that initial discussions occur at the point of sale. This means the conversation with potential clients, whom you aim to guide through significant changes, takes place then. If you haven't established sufficient Know, Like, and Trust with them, they won't perceive your services as valuable. When viewed similarly to others, you can't stand out amidst the crowd.

B. Medium Mass Market

n the medium mass market, the price is determined by the cost of goods. The conversation starts just prior to the sale and away from you, and the price is negotiable.

While most of you might not be concerned about falling into this market, it's determined by the cost of goods. Think about cars, houses, and gas – their prices are influenced by production costs. For instance, in the medium mass market, prices for cars and houses are open to negotiation, and these discussions don't involve the seller directly. You shouldn't let others dictate your pricing. As a business owner, you're aware of your lifestyle and needs, so being part of the medium mass market isn't ideal.

C. Premium Value Market

The third market type is the Premium Value Market. Here, prices stem from the outcomes you deliver to people. Within this market, conversations can span weeks, months, or even years before a sale occurs. These discussions don't necessarily involve direct one-to-one conversations throughout this period. Instead, potential clients might have engaged with your social media content, visited your website, or received your emails over an extended period. This consistent exposure builds trust and showcases the value you provide even before they make a purchase. This is where you establish your unique market presence, distinguishing yourself from competitors. In the premium value market, the price aligns with the benefits gained.

To succeed in this market, follow three essential steps to stand out.

1. Be clear and provide clarity
   Firstly, you need to know exactly who you want to help, like moms, kids, Cross Fit athletes, or new moms. Secondly, you should be sure about the problems these people face. Lastly, you need to make a clear promise about what you can do for them. When you're clear about these things, people will see you as a specialist and want to work with you.

   Step number two is about understanding the issue you're addressing for them. If you present yourself as a general problem-solver for anything and everything, it won't resonate with them. There will be a disconnect. Instead, they'll seek someone who specifically says, "I can help you shed 20 pounds in under three months without giving up your favorite foods." Here, the clear problem is wanting to lose weight without sacrificing beloved foods. If they want that problem solved, they'll likely choose that specialist. People might choose that specialist over others who simply promise weight loss, as the former probably has had the experience of struggling to lose weight while giving up enjoyable things.

   The third important thing is the promise. You need to convey that you can solve their problem and also be very precise about the result you'll provide. This result is what they desire – their goals and wishes from working with you. When you're clear about this promise, it gives them confidence to choose you. Many people lack clarity on the person they're helping, the problem they're solving, or the promise they're making. As a result, they come across as similar to everyone else.
   

2. Be Different. Not Better

Alright, what does all of this mean? Let's break it down. Firstly, you don't want to be just a slightly better version of your competition – that's an improvement offer. Instead, you want to stand out by being different. People are attracted to fresh opportunities, even if they sometimes struggle with being easily distracted. Next, you need a unique mechanism – a distinct approach you use to guide people towards their desired outcome. This mechanism is essentially your step-by-step process. It's also a good idea to give your process a name. For instance, let's consider various levels of offers in the context of helping people lose weight:

·        Basic: "We assist people in losing weight."

·        Slightly more specific: "We help individuals lose 20 pounds in 30 days."

·        Adding a method: "We aid people in losing 20 pounds in 30 days through intermittent fasting."

·        Adding uniqueness: "We guide individuals in losing 20 pounds in 30 days using the anabolic fasting method."

·        Personalized and distinct: "We support Latino single mothers in shedding 20 pounds in 30 days with the anabolic fasting method."

By tying your unique method to a specific target audience, problem, and promise, you create something truly distinctive. This is how you truly stand out from the rest.

3. Maintaining Relevance

   The third important aspect is staying relevant. But what exactly does this mean? Staying relevant goes beyond people merely purchasing your services; they buy into the reasons behind what you do. Your unique reasons are rooted in who you are as an individual. They need to connect with your personality, your beliefs about the world, your industry, your sense of right and wrong – your whole perspective. You need to infuse your distinct personality into your work. Be genuine and be yourself, as this attracts a particular kind of person. Interestingly, when you're authentic, you draw in your ideal clients – those who appreciate you for who you are. This is something many overlook – staying relevant to your audience.

   Remember, your marketing shouldn't only relay facts but also express your beliefs. Some may not agree, and that's alright. You don't need universal agreement. Some will resonate with your ideas, stand by you, and choose to journey in the same direction with you. So, maintaining relevance is the third key to standing out.

   Ready to turn today's knowledge into real success for your business? Imagine attracting ideal clients, breaking free from your job, and hitting six figures and beyond. If you're tired of trial and error, wasting time and money, we're here to guide you with proven strategies.

   Whether you're starting or want to speed up your progress, we've got you covered. If you're lost in the crowd of online coaches and crave to stand out, we can help you shine as the expert. Let's transform what you've learned into a customized system for your success.

   Want support? Click here and let's discuss your business and see how we can elevate it together.

Want to learn more? Watch the video below!

How to Separate Yourself from the Competition