To ensure your martial arts school grows steadily and avoids the pitfall of losing students faster than you can enroll new ones, setting specific goals for student renewals and upgrades is essential. Here's a clear plan:
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Understand Attrition Rates: With a typical attrition rate of 2% to 5% per month, it's crucial to focus on retaining a significant portion of your current students.
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Set Renewal Goals: To maintain your growth rate, aim to renew at least 75% of your students each month. For your current enrollment of 150 students, this means renewing 9 students every month.
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Focus on Upgrades: Alongside renewals, set a goal to upgrade 6 of those 9 renewed students to the next program tier monthly. This ensures that your students are progressing through your programs, which can help with retention and overall satisfaction.
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Track and Analyze: Regularly review your renewal and upgrade numbers to ensure you are on track. Adjust your strategies as needed to meet these goals consistently.
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Project Growth: If you meet these renewal and upgrade targets each month, you can expect to grow your student base from 150 to over 250 students by the end of the year.
By focusing on these specific goals for renewals and upgrades, you’ll ensure that your school not only maintains its current student base but also grows effectively, paving the way for long-term success.