Follow Up Failure
It’s easy to do…. but also easy NOT to do….
When you’re running a studio, there is so much to deal with on a daily basis that following up with enquiries can seem like the last thing you’ve got time to do.
BUT think of it this way. For every enquiry that you don’t follow up with, you’re missing out on thousands of dollars through the lifetime value of the student! Thousands!
In this video, you’ll learn the 3 vital components to remember when you’re designing a Follow Up system for your studio.
Our rock-solid Follow Up Formula is taught in the Studio Expansion Program and has been proven to DRAMATICALLY improve studio profits. Just imagine being able to convert every enquiry into a student how fast you could grow your studio. The next program starts soon – it could be transformational for you and your studio…
Here’s the transcription…
Hi, it’s Chantelle here, the creator of the Student Attraction System that gets your studio’s marketing running on auto-pilot and today we’re going to have a chat about follow up failure. Now chances are your studio’s marketing is inconsistent and your follow up, well, sometimes that could maybe leave a little bit more to be desired. But if you think back now of all the students in the past twelve months who may have inquired as to your services at your studio but they never actually got through the door or even worse think back to all those students who came for free trial lesson but then just disappeared into the universe never to be seen again. This is not okay.
Now the thing is the reason most studio directors don’t do follow-up as well as they could or perhaps should is because it can take a whole bunch of time and energy. Two things that most studio directors I know don’t have a lot of. But we need to step back for a moment and see what not following up is costing you and your studio. Let me ask you a really important question. Do you know the lifetime average value of your students? Now what I mean by this is: Do you know how much money on average you make from every student that comes in the door? Now depending on your studio, it could be a thousand dollars, it could be twelve thousand dollars.
This is going to be to be on how dependent on how good you are at retaining your students, and also offering them different opportunities to do business with you. So how many programs you can involve them with through their life span as a student. So once we’ve worked out this life time value of each student, next we need to work out how many inquiries are going unfulfilled. So let’s say over the past twelve months, you’ve had 50 phone and email inquiries come through your studio but haven’t been actually converted into paying students. Now, perhaps you’ve spoke to them on the phone or you’ve wrote back a quick email reply to an email but that’s as far as it went. There was no sequential system drawing them in, enticing them to come to your studio and sign up for more lessons.
So if we think about this, if you take a very conservative $2000 lifetime value of each student and you multiply that by the 50 missed inquires that works out to be a massive whopping $100,000 that’s missing from your bank balance right now. Let’s get crystal clear here for a moment; follow up is not a one-off event. It might take seven little taps on the shoulder. It might take five little reminder emails inviting them to come back to your studio. But let’s be honest, as a studio director, if it takes all too much time, too much effort, too much energy you’re not going to get around to it. So, how can we transition you to having follow-up failure to having a follow-up formula? So when you’re designing your follow-up system for your studio there are three things to remember.
Number one: It has to be easy. Has to be something you can do really quickly without a whole lot of involvement on your part. Number Two: It must be trackable. You need to know for every student where they’re at in the follow up process. So you need to know what communication has been sent on what day and by whom. That’s really important. And the third element is: It has to be consistent. It has to be set up so that no student falls the cracks and, ideally, will also be a system where everyone in your team can contribute to, when you can automate your follow-up system in a way that’s really easy for you to manage. It’s trackable to give you total clarity and is consistent day in and day out.
You’ll be able to really maximize all those inquiries that are coming to your studio. You’ve just got to get them through the door so that no students fall through the cracks and when you focus on follow-up, you’re really making such a massive difference in the lives of even more students and well on the path of building that studio of your dreams.