How Much Does a New Student Cost?

- Tweet0
- 0
- Pin It 0
- 0
- Subscribe to RSS
Subscribe

Subject: How Much Does a New Student Cost?

If you use ads to get new students… you need to track your cost per lead so you know if the ads are worth the money.

To calculate cost per lead, simply divide the total cost of your Facebook ads campaign by the number of leads generated.

For example, if you spent $1,000 on your campaign and generated 25 leads, your cost per lead would be $40.

But, that isn’t the full story.

You’re not just trying to “get exposure”...

You don’t want students one year from now…

You want students NOW.

So, if you converted 20% of those 25 leads, you would get 5 new students, making your ACTUAL cost to sign the student about $200.

Is that a good deal or no?

It depends on one thing…

How long do students stay in your studio?

If your average profit per student is $50/mo after expenses… and they stay 18 months…

You are making a 400%+ return on your campaign.

Your return gets even better if:

You run group lessons (higher margins)
You get referrals from these new students (students for “free”!)
Your retention is higher than the hypothetical I gave above (higher lifetime value)

Right now, I’m personally helping studios get more students.

This is not a training.

I'm actually going to run ads for you.

This isn’t for everyone…

You have to meet some qualifications (see below).

If you’d like to get an email from me every morning with the names of people who want to join YOUR studio…

Just click here to fill out the application (takes 3 minutes)

I’m taking a few more studios in March.

Best,

Daniel

PS> Here are those qualifications:

You have an ongoing need for students (i.e., you want to grow by 5 - 10 students per month indefinitely… or at least for a long time)
You or your team are prepared to aggressively follow up with these leads (5+ contacts within the first 10 days)
Your studio’s retention is good

growyourmusicstudio.com/free

At GrowYourMusicStudio.com, we are strongly committed to protecting your privacy and providing a safe & high-quality online experience for all of our visitors. We understand that you care about how the information you provide to us is used and shared. We have developed a Privacy Policy to inform you of our policies regarding the collection, use, and disclosure of information we receive from users of our website.

Our Privacy Policy, along with our Term & Conditions, governs your use of this site. By using GrowYourMusicStudio.com, or by accepting the Terms of Use (via opt-in, checkbox, pop-up, or clicking an email link confirming the same), you agree to be bound by our Terms & Conditions and our Privacy Policy.

If you have provided personal, billing, or other voluntarily provided information, you may access, review, and make changes to it via instructions found on the Website or by emailing us at training@growyourmusicstudio.com. To manage your receipt of marketing and non-transactional communications, you may unsubscribe by clicking the "unsubscribe" link located on the bottom of any marketing email. Emails related to the purchase or delivery of orders are provided automatically – Customers are not able to opt out of transactional emails. We will try to accommodate any requests related to the management of Personal Information in a timely manner. However, it is not always possible to completely remove or modify information in our databases (for example, if we have a legal obligation to keep it for certain timeframes, for example). If you have any questions, simply reply to this email or visit our website to view our official policies.

At GrowYourMusicStudio.com, it’s our mission to build a community of music education entrepreneurs that love building, scaling, and expanding their music studio! We focus on equipping these entrepreneurs with the very best information as it pertains to growing and scaling a successful, profitable music school. We love to help people learn how to market and scale their local and online studios. We do this by showing them how to teach students in a group setting rather than providing a service that can't scale - so they can live a great life and make a great living at the same time.

If you have provided personal, billing, or other voluntarily provided information, you may access, review, and make changes to it via instructions found on the Website or by emailing us at training@growyourmusicstudio.com. To manage your receipt of marketing and non-transactional communications, you may unsubscribe by clicking the "unsubscribe" link located on the bottom of any marketing email. Emails related to the purchase or delivery of orders are provided automatically – Customers are not able to opt out of transactional emails. We will try to accommodate any requests related to the management of Personal Information in a timely manner. However, it is not always possible to completely remove or modify information in our databases. If you have any questions, simply reply to this email or visit our website to view our official policies.

Subscribe

Subject: How Much Does a New Student Cost?