Motivational Speakers: The 5,000+ motivational speakers in the U.S. Just about anyone can call themselves a life coach.Ħ. However, the field is loosely regulated and incompetence is a common complaint. ![]() coach makes $62,000/year, and nearly all motivational speakers offer coaching services now. Marketdata expects this to have risen to $1.02 billion in 2016. coaching market was worth $955 million in 2015. The latest ICF and PriceWaterhouseCoopers’ global coaching study found that the U.S. Personal Coaching: Personal coaching services are growing strongly and some claim that this is the second-fastest-growing industry worldwide. As most are free and it’s a difficult model to monetize, competition for advertiser and subscriber support will be fierce.ĥ. Self-improvement apps: Self-improvement apps for smartphones are beginning to take off as more of them emerge, especially in the area of meditation, weight loss, fitness and therapist counseling. There were no major blockbusters such as The Secret, but a good number of other popular titles were released and sold well.Ĥ. This is now an $800 million market that’s growing 6% per year. Self-improvement books have done well in recent years, with a slew of new titles appearing in 20. Self-improvement Books: A popular book is still the basic starting point and platform for motivational speakers and gurus. According to the APA, over 24 million Americans now listen to audiobooks.ģ. Total audiobook sales have increased in the double-digits the past three years. Self-help audiobooks is now a $769 million market, growing 5.6% or more per year. Audiobooks: Sales of audiobooks are growing strongly in dollar sales (+12% in 2016), according the Audio Publisher’s Association. Most of the products sold are related to weight loss programs and exercise machines.Ģ. Infomercials: Infomercials generated $1.35 billion in sales of self-improvement products and services in 2016, down about 15% from 2014 levels. Top 9 Market Segments for the Self-Improvement Industryġ. More content (such as MP3 downloads, e-books, webinars, online courses, “academies”, “universities” and “masterminds”, etc.) is being delivered online, while self-help apps are starting to take off. To cater to the younger audience, the Internet is playing a larger role in the self-improvement market. Millennials are the future for this market, but there are few young experts with the experience to serve them. While they remain an important group, the tide is shifting. ![]() Traditionally, the Baby Boomers have been the main consumers of self-improvement services. We should see better 5.6% average yearly gains from 2016 to 2022, when the overall market value should increase to $13.2 billion. Growth was mainly hurt by weak performance in infomercials and commercial diet programs. self-improvement market was worth $9.9 billion in 2016, constituting growth of just 4.3% since 2011. Self-Help Market Faces Demographic Challenges As a result, gurus are trying to figure out how to cut through the clutter while consumers are trying to identify legitimate, competent experts. Many consumers looking for more practical programs and a return on their invested time and money have found that programs and philosophies – such as the “law of attraction” – have overpromised and underdelivered.Īdditionally, consumers are realizing that there are there are many so-called “experts” now peddling a variety of online “masterminds”, “academies”, “universities” and coaching services. General motivational programs are less popular today. ![]() To maintain long-term viability, the personal growth – aka self-improvement – industry’s future generation of gurus, speakers and experts will need to be more accountable to consumers.
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