About this guide
When planning your marketing, looking at growing your business or trying to increase your income, one of the most important things you need to consider is the 'lifetime value of a student'. The lifetime value of a student should be consider when planning anything to do with your marketing.
If you don't know what the lifetime value of a student is to you or what that means, it's essential that you read through this guide before you start looking for marketing methods or advertising options.
The way to think of the lifetime value of a student is to ask yourself 'how much is a new student worth to me?' Knowing this answer helps you make better decisions for your marketing and business.
In this guide you will learn what the lifetime value of a student is, why it's important as well as a simple tool to help you work out the lifetime value of a new student for you.
Why the lifetime value of a student matters
BMK-01 helps you compare different advertising options so you can make better choices with your marketing. It gives you a very simple way of comparing different advertising options and working out which option is the best value for money.
To take this further, we should also take into account the lifetime value of a student. Comparing the lifetime value of a student to the cost of an advertising method can give you a very good idea whether the advertising would be worthwhile or not. It's a quick and easy way to avoid bad options and it highlights the options that can potentially bring you a lot of students for a low cost.