Increasing Impact and Revenue in Your Music Studio
You can measure the revenue impact of advertising, sales tactics, and pricing strategies… because numbers like that are trackable. (They’re not always easy to track… I’m looking at you, FB ads… but it’s doable.)
But how can we measure the perception of others? How can we measure the IMPACT our studio makes in the community?
And yes… the BIG Q:
What power does the perception of your studio have on your business impact and revenue?
In this video I’ll discuss 3 specific ways that effective branding can allow us to increase the local (and online) impact of our studios, and how it can in turn… give us the ability to increase studio revenue. Learning how to keep track of these measurements will help us know which branding strategies we need to implement.
Lots of #takeaways to grab today.
Show Notes from the Broadcast:
It takes 5 to 7 impressions for people to remember a business. We sometimes call these “touch points.” If your logo or studio name isn’t memorable, then it takes longer for people to remember you! AND… if you aren’t staying consistent with your socials or getting out in the community, then you might not have enough touch points for a client to remember to reach out.
A strong brand increases your chance to attract new customers. The more recognizable you become, the more people you’ll via… organic reach on FB, word of mouth, FB advertising, etc. And keep in mind… if the studio down the street has a strong brand… but you haven’t put time / effort into yours, who are they most likely to contact? (Again, not a competition. There are enough students in this world for every studio teacher, but if you aren’t easy to find… well, they just won’t find you.)
Strong brands can command premium pricing. Being able to communicate the features AND benefits in your studio helps clients understand the value of working with you, which in turn can allow you to charge what you are actually worth rather than staying in line with market values or using low prices as a way to “stay competitive.”
Catch more business, mindset, and awesometicity tips here on the coaching page every Wednesday at 12pm ET.
Thanks for reading and listening! Stay savvy, stay you.