Improving earnings per student is a crucial step in your success on UrbanPro. It helps you earn more and also improves your rankings in the UrbanPro search results. Improved rankings mean that you will rank higher, thereby becoming more visible to students.
Your rank is calculated using the formula:
Ranking factor = (New student conversion rate) X (Lifetime earnings per student)
There are two key things that you need to do to improve your earnings:
1. How to improve your student conversion rate
Your conversion rate is based on the number of demos you take vs the number of students who start classes with you as a result of that demo. A good conversion rate will not only increase the number of students you get but also help you rank higher.
Let's understand this using an example:
You have a conversion rate of 20% (4 new students from 20 demos) and an average fee per student of Rs. 6,000 and another tutor has a conversion rate of 25% (5 new students from 20 demos) and an average fee per student of Rs. 3,000. Now, if we consider the average earnings per student and multiply it with the conversion rate then you get a score of 1200 (20% x 6000 = 1200) while the other tutor gets a score of 750 (25% x 3000 = 750). This means that you will be ranked higher than the other tutor. This is why you need to ensure that you maintain a good conversion rate and a good average fee per student.
Here are some tips that you can use to improve your conversion rates and also the lifetime earnings per student.
- Ensure that you update your profile regularly and that you mention all your strengths in it.
- Ensure that you have a good intro video
- Have a disciplined approach to contacting students. Set aside time every day to call/message students.
- Make sure your demo availability is always up to date so that students can book demos easily with you
- You have 50 min to do a demo class so use them well. You can use a simple template for the demo class:
- Introduce yourself
- Ask the student their requirements
- Explain what you offer in your classes
- Give them a small sample class
- Discuss the charges for the class
- If the students agree then, and only then, send them the payment link.
- Don't miss any demos. If you miss too many demos since that could have a negative impact.
- Make sure to collect a review from your students since reviews play an important role in new students deciding on studying or not.
2. How to improve lifetime earnings per student
Now, this is something that really depends on the student's requirements and the quality of your classes. However, there are things you can do to have students take more classes with you. They are:
- Ensure that the quality of your classes is excellent. Good teaching will encourage students to come back to you
- Offer students, extra classes, to work on any subject/chapter that they are not confident with
- Build your course in steps. for example: create it in 3 tiers, Basic, Advanced and Expert. This allows you to engage with students at the basic level and get them to sign up for Advanced and Expert courses
- Ensure that you charge competitive rates for your classes so as to make it more economical for students to take more classes with you
- Follow up with students to check if they are in need of further classes