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STG 138: Increasing The Lifetime Value of Each Student

 

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There’s an old saying in marketing and business: “You can’t manage what you can’t measure”. The best way to manage your teaching studio and make sure you’re on the path to profitability is to keep track of a few important metrics, including how much a single student is really worth to your business. That metric is known as your CLV (customer lifetime value). There are ways to increase your “CLV” so that you’re making more money from the students you already have, and then you can spend less money on bringing in new students. Put those two factors together and your studio can become a lot more profitable a lot more quickly.

In this episode, I’ll explain exactly what your “customer lifetime value” is all about, along with another related metric called your “CAC” (customer acquisition cost). I’ll teach you how to keep your acquisition costs down and how to increase your student lifetime value…and I’ll give you some very specific strategies you can start implementing right away. The most important first step is to understand these two important numbers and to learn how to calculate them for YOUR business…once you know where you ARE, you’ll be ready to start making improvements, and your studio will have a much greater chance for success.

This PREMIUM episode of the Start Teaching Guitar Podcast is available exclusively for STG All-Access members!

 

To give your teaching business a huge advantage and get TONS of cool benefits INCLUDING the full-length, commercial-free version of this episode, click here to purchase a LIFETIME MEMBERSHIP to STG All-Access today!

STG All-Access members get access to the following VALUABLE RESOURCES:

  • Full-length episodes of the STG Podcast with no advertising or commercials, including a mind map outline containing my PRIVATE NOTES used to record the episodes

  • Access to PREMIUM EPISODES that nobody else gets to listen to with more in-depth “how-to” information

  • Q&A call recordings where you can get ANSWERS to your QUESTIONS about teaching guitar

  • Access to the STG Podcast Archive, and the FIRST 25 EPISODES that are no longer available to the general public

  • Access to the STG Community Forums, where you can interact with other guitar teachers from around the world

  • Much more!

Give yourself a shot of ENCOURAGEMENT and MOTIVATION and the RESOURCES you need to help you build your guitar teaching business! Click this button to purchase your own STGAA LIFETIME MEMBERSHIP:

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STG 138: Increasing The Lifetime Value of Each Student was last modified: December 26th, 2014 by Donnie Schexnayder

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