Step #3 – Retention. Keeping students around for the long haul. This basically amounts to two things – promise fulfillment, and customer service. This is another step many school owners skip, which leads to stalled growth and a poor community reputation.
First, I think Michael left out an important first step – Measure your retention. If you’re not measuring your retention, you don’t know if any of the other things is working or not. Calculating your retention manually is very complicated. Calculating it with MasterVision is just a couple clicks. Here’s how:
Go to Reports (printer button on the toolbar), go to the Retention section, and run the “Attrition Rate Over Time” report (Attrition is just the opposite of Retention – Retention is what % of students are you keeping while Attrition is what % of students you are losing).
This report is explained in more detail here. Run this report at the end of every month to see how your retention is doing and to know if the steps you are taking are improving it or not.