|What is one new student worth to your business?|
I must admit, it always surprises me that rarely do I meet people who actually know the answer to this crucial question.
Let’s work it out together at the most basic level: one student doing one weekly class for the year for 40 weeks is a nice easy place to start.
Let’s say you classes are $12 per week, across 40 weeks of the year. One student, doing one class per week is going to bring in $480.00 each year. Now let’s imagine this once-per-week dancer joins your studio at the age of 3, and graduates when they are 18. That once-per-week dancer has a lifetime value of $7,200.
And guess what we haven’t included?
All the other products and services your dancers buy.
With all of these inclusions, the average lifetime value of your once-per-week student is between $20,000 to $30,000.
Now, would you agree that this is an important number to know?
Having this number at the forefront of your mind will drive you to do better, more intentional marketing. As the CEO of your studio, you need long-term thinking, not short-term.
You need to be making decisions for your next three years, and that’s why your marketing strategy is so important.
This video training shows you how to follow up with new enrollments in a way that makes them grateful to be a part of your studio family. (Using our “secret sauce” mix of emails, text messages, and phone calls)
If you’ve ever forgotten about an email or message from a potential student inquiring about your classes – and if you want to fill up your classes with MORE students excited to enroll at your studio – then get your copy of the checklist today!