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2 | Conversion Value Calculator for Music Schools |  | ||||||
3 | Instructions: Fill out the cells highlighted in yellow. Try and be as accurate as possible, and think about both the high and low ends of the spectrum when estimating averages. | |||||||
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5 | Average price of a lesson (in dollars) | $65.00 | (Typically between $50-90) | Lifetime Value (LTV) of a full-time student: | $4,680 | |||
6 | Average # of lessons in a month | 4 | (Typically between 2-6 lessons/month) | Trial Lesson Value: | $3,276 | |||
7 | Average tenure of students (in years) | 1.5 | (Typically between 0.5-3 years) | Lead Form Value: | $936 | |||
8 | If a student books a trial lesson, what percent of them enroll full-time? | 70% | (In percentages, typically between 60-70%) | Phone Call Value: | $468 | |||
9 | If a student or parent fills out the info form, what percent of them enroll full-time? | 20% | (In percentages, typically between 15-30%. Consider that a significant portion of phone calls are likely existing customers, and not prospects.) | |||||
10 | If a student or parent calls the studio, what percent of them enroll full-time? | 10% | (In percentages, typically between 5-15%. Consider that a significant portion of phone calls are likely existing customers, and not prospects.) | |||||
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