Last year brought about many changes to the coaching industry both in how professionals coach their clients and also in emerging challenges and areas that people need coaching in. But what stuck? This week we're taking a look at the emerging trends in coaching in 2021.
According to the 2020 ICF Global Coaching Study, it is estimated that there were approximately 71,000 coach practitioners in 2019 globally, an increase of 33% on the 2015 estimate. Industry reports also suggest that the estimated market size of the Coaching Industry was $15 billion in 2019 and is expected to reach $20 billion by 2022.
There’s never been a better time or more need for coaching across the world. But what is yet to come? Let’s take a look at the direction coaching is heading in and what are the trends that will impact you!
You only have to look at the ICF global study figures to see that increased need is influencing every coaching sector. The estimated global total revenue from coaching in 2019 was $2.849 billion U.S. dollars, representing a 21% increase over the 2015 estimate.
As the coaching industry grows, awareness is also increasing and people are becoming more and more aware of the power of coaching and the positive effect this could have in their life.
Along with more awareness, the perception of coaching is also changing, from a luxury reserved for corporate executives to a life-changing tool anyone has access to.
With countries around the world still under pandemic regulations, including the UK (hello lockdown, my old friend) virtual meetings are still the norm – and so are virtual coaching sessions.
Technology is revolutionizing how coaches can serve their clients in increasingly creative ways. Some coaches are adding additional content to their service packages and some are simply automating their booking processes better, finding ways to simplify the process for their clients.
What does this mean for coaches? First of all, if you are not on Zoom, Skype or a similar communication platform, you’re missing out. Many clients are asking specifically for online coaching and even though you might be comfortable with face-to-face meetings, many are still on the fence about this.
Coaches new to Zoom also need to adjust to this new medium of communication and learn to read their clients’ body language through a screen.
We might be unable to board a plane anytime soon but virtual borders are opening up. Now that clients don’t have to choose from their local coaching directory, nothing is stopping them from contacting that wonderful coach they’ve connected with on Instagram – even though she’s a thousand miles away.
This means that the market for your coaching clients is also changing. It’s not about being able to provide a good quality local service anymore, it’s about being able to help your coachee with a very specific challenge, no matter where you are.
Many new coaches initially feel unclear about what their niche is or worry that they’ll limit themselves by deciding a specific niche. This can cause some coaches to take on a ‘be all things to all people’ mentality.
Choosing to define a coaching niche allows you to laser into the specific needs of your client, to understand their struggles and most importantly to know where and how you can connect with them. If you aren’t clear on your target market, other people won’t be clear either, making it difficult for them to choose your services.
This client-centred approach will become more prevalent in the market – the more coaches start working in a particular space, the more you will need to be able to stand out.
What are some niches that are gaining ground?
· Wellbeing Coaching
Overall wellbeing has been a big focus since the start of the pandemic, with world health professionals warning against the mental side effects of lockdown and social distancing.
As people emerge from their bubble, they will not only look for ways to get back on track with their goals but how to stay as mentally healthy as possible.
· Career Coaching
With millions furloughed or unemployed, people are looking for all the help they can get to find a new job. Some are looking for coaches to help them with their interviews and presentations, others are taking the opportunity to switch careers completely.
· Reinvention Coaching
People have gone through life-changing events in the past year and many are looking to create a more authentic and aligned life for themselves.
We offer Niche workshops in all three niches above and more! Find out all about the brand new Niche Workshops here.
Coaching is not a regulated industry and the number of unqualified people calling themselves coaches is rising too. That’s why large majorities of both coach practitioners and managers using coaching skills agreed that individuals or organizations using coaching expect their coaches to be certified or credentialed, as per ICF.
Further training is also a question of staying on top of best practices, enhancing your skills and staying ahead of the competition. In the ICF Covid-19 focused study, almost half (48%) of practitioners reported that they have increased their hours spent receiving training since the pandemic hit.
Coaches who took control of their digital marketing since the pandemic saw an increase in their following. With the world looking for more content they could easily consume, Instagram and Tik Tok Coaches gained popularity by connecting professionals with their ideal clients in creative ways.
Gone are the days where coaches gained their clients from long presentations dotted with a myriad of facts and lessons. As social media features and platforms evolve, so do content preferences. People are looking for fun ways of learning these days and those who step up to the challenge benefit massively.
Join our free Facebook Live Session on Tuesday, 9th February from 10 am, for a conversation with Sharon Lawton, TCA Head of Training, where she’ll guide you through the trends that are impacting coaches in 2021.
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