If you’re an tuition or enrichment centre owner who has ever felt that price was most important factor in determining whether students signed up with you, then this will be the most important thing you’ll read this year.
Maybe even for the years to come.
Here’s the thing:
The topic of price is always sensitive for any business. But this is especially true for education businesses.
Raise prices (without the proper strategy), and parents start complaining or showing disappointment unless you offer to keep the “old rates” specially for them. On the other hand, new parents may consider you “out of their budget”, giving price as one of the many excuses they have for deciding not to sign up.
Lower prices, and you have to sign more parents, open more classes and work even long hours just to make ends meet on rent and bills. Or worse, you attract stingy problematic parents who not only pay little, but even pay late despite a very high expectation for “personalised service” for their child, affecting your monthly cashflow. Potential parents may have even looked at your price and start associating you with the lower-tier tuition centres who produce the ‘B’ students.
If you’re an experienced educator who unfortunately lacks the right marketing skills, this can be a real headache that can easily prevent you from growing your centre any bigger than 500,000 revenue a year.
For Marc and Ganglin, founders of Pentagon — a math enrichment centre in Kovan — it was no different.
Before we dive into their story of how price became , here’s a quick background of their situation:
Now, They Were Facing A Couple Of HUGE Challenges That More Than 80% Of Education Business Owners In Singapore Face, Such As:
As you can see, Marc and Ganglin previously engaged a marketing agency to help out with their marketing efforts. Initially, they managed to get a few sign-ups here and there… but within a matter of months, the flow of new sign-ups dropped DRASTICALLY! (Even if you do your own marketing and have never engaged an agency, we’re sure you definitely can relate).
And the reason for this is simple – Outsourcing your marketing without any knowledge or understanding of what the agency is doing comes with a price: A huge discrepancy between what is promised to parents against the end product.
Naturally, for an agency who hasn’t been given clear guidelines, the tendency is to promise as much as they can in order to get many signups. Parents started thinking their kids would definitely get an A without any conditions at the centre. And as an educator, you probably know what this means: disappointed parents, slowing referrals, drastic drop in signups.
(So at this point, if you’ve outsourced your marketing and have absolutely no idea what they are promising, you should check with them IMMEDIATELY)
To make matters worse, the first go-to move that they thought of was resorting to slashing the prices of their programs — after all, that’s what most little-known education-centres do when they’re faced with ever-increasing competition from other bigger, more established brands, right?
Thankfully before they decided to do that… they came across Growthtribe. We shared with them that lowering your prices is a HUGE MISTAKE! You’re depriving yourself of much-needed cashflow and revenue, and sabotaging your own growth… and “cheapening” your brand in the eyes of the parents.
Perhaps you’ve felt at some point that cutting price COULD be the solution after all. But here’s the thing:
This is absolutely NOT true at all!
It is not at all about the price, it is about JUSTIFYING the price you’ve set. How do you do that, you ask?
The answer is simple and in fact, it can be summarised into 3 words:
COMMUNICATE YOUR VALUE
If you know how to craft a strong and persuasive marketing message…
If you know where exactly to put this message out so that parents have a chance to see your message…
If you know exactly what to say to parents…
Then you don’t have to worry about the price of your product at all, even if they are comparable to the Big Boys like Mind Champs and The Learning Lab, parents will still be flocking to your centre. This is because your centre has exactly what they are looking for their child to be groomed into the best they can be. And that is the single most important thing to them. Instead of price.
Curious to learn how you can COMMUNICATE YOUR VALUE?
That’s Exactly What Marc And Ganglin Learned When They Joined Our Market Domination Circle Programme— An Exclusive And Highly-Practical Program Specially Designed For Education Business Owners.
Our team of highly-trained marketing experts sat down with them to analyse the kind of messaging they were using to position their enrichment programme differently from the rest of the cutthroat competition in the Singapore education market, PLUS go through his entire business model with a fine-toothed comb…
And shortly after, we got them to increase their upfront investment from $190/mth to a staggering $2,500 investment upfront. They were quite skeptical about the “unorthodox” move at first, but we assured them that we’ve done this multiple times for tons of education businesses… and it’s proven to be successful every single time.
After that, we taught and guided them to implement Massive Student Sign-Up System (MSS), and here’s how it helped:
In just 3-4 weeks… they managed to get $17,500 worth of sales UPFRONT.
And the icing on the cake? Out of the first 7 parents they met… ALL of them registered their children for classes with them. That’s a 100% closing! (If you’ve been running this sort of consultations or previews for awhile, you’ll know this is simply outstanding).
The parents didn’t even bat an eyelid at the massive increase in upfront investment… simply because the Parent-Attraction Ad PLUS Parent-Persuasion Page we got them to craft, already “sold” the parents on why they should choose their Pentagon’s programs over any other centre out there… EVEN BEFORE they came down for the 1-on-1 consultation with Marc and Ganglin.
Did you get that?
Even With Numerous Competitors Nearby — With Most Of Them Offering Monthly $200 Payments… Marc Got His First 7 Out Of 7 Parents Forking Out $2,500 UPFRONT Without Any Complaints At All!
Check out his results after just 6 weeks:
Just like that, in just 6 weeks after applying our “student attraction” strategies and techniques, Marc and Ganglin raked in a grand total of at least $20,000 worth of annual revenue 🙂
The best part?
They only spent about $250 on advertising PER signup.
That’s right. Only 10% was marketing cost. The rest of the 90% is bonus cashflow they got ahead 10 MONTHS AHEAD of time that they can easily invest on more students to keep the signups churning, or manpower to expand their classes!
The strategies and techniques we share in our Market Domination Circle (MDC) program are both cost-effective AND profit-churning.
That’s how we help our education clients massively grow their businesses. Fast.
You Can Imagine How Excited Marc And Ganglin Were When They Saw Most Of Their Head-Start Classes For 2017 Were Filling Up Fast In December… Even Before The Year Officially Started!
Here’s the exact words from Marc himself:
Was Marc any different from you?
Well, you can choose to think that he is…
But the truth remains that:
He’s An Average Education-Business Owner Just Like YOU — Who Was Struggling To Fill Up His Classes Consistently Week After Week… Especially With Cutt-Throat Competition With Better Prices, More Convenient Locations, Highly Qualified Teachers…
The only thing he did was to cast his doubts aside long enough to come down for a 1-on-1 strategic session with our team of marketing experts… and give our tried-and-tested strategies and techniques a try.
Within just weeks of applying what we crafted specially for his business, Marc enjoyed an instant explosion of profits and cash flow 🙂
Now, if you’d like to get the kind of phenomenal results Marc — and the rest of our MDC education clients — are enjoying right now…
If you want real results, real profits, FAST…
If you’re interested in quickly packing your classrooms while all your competitors are struggling…
Start Getting These Explosive Results For Yourself, And Sign Up For An Exclusive 1-On-1 Strategic Session By Getting In Touch Below.