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If you have your own coaching practice, you’re not just a coach, you’re also a business owner. You are already tracking some information for your coaching log, but what data are you measuring for your coaching business?
By tracking and understanding data, you can make informed decisions that will help you grow your business. In this article, we look into the essential data points every coach should monitor to ensure their coaching practice is thriving. By incorporating these key metrics into your business practice, you will drive your coaching business forward.
The most important thing to remember when you think about client data is to keep data that has a business purpose and that the client gave you permission to collect via your terms and conditions and your coaching agreement.
So ask yourself: what will be useful for you to know about your clients?
If you are health coach, you may want to know how many of your clients had an underlying health condition, or their age, weight or height.
If you are a leadership or career coach, you do not need this type of information. But you could collect the industry of your client or your client’s title/occupation.
You can track where your clients are based or their nationality to see if there are any trends, or any markets you may want to explore further.
You want to understand not just how many sessions you do each week or month, but also the average duration of sessions, if there are any differences between clients and/or topics (e.g. are your interview preparation sessions longer or shorter than your career exploration sessions?).
Other things you can track:
You want to be able to measure the impact of your coaching by keeping track of your clients’ success stories. Those are not just testimonials (we’ll talk about that later in the article). We’re talking about learnings and milestones your clients are reaching with the coaching.
Why is it important? You will be able to notice the type of achievements your clients complete during the coaching and you will be able to use this data in your marketing and when speaking to prospective clients, for example when you are asked how you help your clients.
Client acquisition is notoriously difficult. You want to know how many of your clients continue coaching with you beyond their initial agreement, or come back to you. You can also look at:
Beyond the usual business metrics like revenue and expenses, which you have to account for, there are other metrics to pay attention to as a business owner.
The first one is the source of your clients, which we mentioned above. You want to know where your clients are coming from: is it paid advertising? Word of mouth? Organic visibility on Google? Social media? Client referral? Make sure to always ask clients (and prospective ones) how they’ve heard about you. You need to know what works so you can tap into it more.
Another key data to track is the conversion rate of your advertising. If you invest money in marketing via paid ads, you should track how many contacts and/or clients you get from these initiatives. You will be able to focus on the platforms that bring you the most clients and cut your losses with the ones that don’t bring you any business.
Feedback is essential to measure your effectiveness as a coach and it can also support your business. You want to ask your clients to share their experience working with you via written or video testimonials. Client reviews are essential for prospective clients to want to contact you. Make it a habit to request those testimonials.
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