Why Education Agents Should Focus On MRR (Monthly Recurring Revenue)?
Under new normal, it isn’t new for education agents to keep scouring for new opportunities to keep the books in check.
Of course, much of the opportunities aren’t arising from processing OSHC and the numbers of students willing to study in Australia have limited due to ongoing travel restrictions amid the global pandemic.
To remain competitive in the market, definitely you could try an OSHC Partner Portal, however, students are the number game.
But, What If, You Could Change This Scenario?
Alright, let’s begin by understanding how you could persist within the education industry and maintain your earnings from admission, OSHC Commissions, and much more.
The Main Objectives Are:
- What is MRR?
- What is the role of MRR Within Your Education Agency?
- OSHC For Australia.
- Why Channelize OSHC under MRR?
- The Benefits of Personalized Policy Management Portal
- Becoming OSHC Partner
What is Monthly Recurring Revenue (MRR)?
MRR stands for ‘Month Recurring Revenue.’ In other words, it is the income (fixed) that a business relies on receiving every month.
Majorly, MRR is suitable for a business that is based on a subscription-based revenue generation model.
It certainly helps your business to evaluate a few aspects of future sales by calculating CLV (customer lifetime value) and evaluating ASP (average selling price) of products and services.
Let’s get back to the industry we belong. Well, you are correct in thinking that, where does this model fits in for an Education Consultancy.
But, you could certainly turn and twist a little in your business operation to achieve your desired result. For that, you’ll need to understand the role MRR plays within your Education Agency.
Role of (MRR) In Your Education Consultancy
As established above, MRR isn’t a fit solution for an agency but how you make your student enrollments count in your business will make the entire difference.
Of course, unlike subscribers, students are going to come back every month or year to lodge their visas or enroll or book tickets. But then again, as we saw above, students are the number game. The more student leads you to generate for your funnel the better is your conversion rate.
Not every student is going to apply for the same intake or the same college. Similarly, many factors will bifurcate the student pool. To have a recurring income, you could organize your funnel in a way to least receive the OSHC commission, enrollment commission, etc., earning every month.
OSHC For Australia
OSHC (Overseas Student Health Cover) for Australia is a mandatory health insurance requirement for International students who want to study in Australia. OSHC remains mandatory to secure under the visa condition 8501 by each aspiring International student. Overseas health insurance protects students in unforeseen health emergencies.
Student health insurance can be purchased from an education agent or the applied university or directly from the insurer’s website. OSHC Australia is private health insurance offered by government-approved leading insurers. Overseas health insurance covers the cost of hospital, medical treatment, and ambulance services.
Leading OSHC Providers are,
Why Channelize OSHC under MRR?
The purpose of transforming your consultancy’s one-time student applications and their income into recurring revenue. The breakdown of one-time income and channelizing it helps your business to balance in unprecedented times like this.
In today’s time, wherein, leads fly-by, students persona keeps evolving, university enrollments are not steady, and least to say, immigration & border agency with stricter rules for international students is nothing else but a hindrance to keep a streamlined business operation.
Amid such circumstances, businesses might count on automation to help increase productivity & efficiency. Opting for a personalized policy management portal should ease tracking of sales, leads, reports, etc. Let’s have a closer look into the benefits of such an OSHC portal.
Benefits of OSHC Partner Portal
With KONPARE, you can become an OSHC portal partner at no additional cost. There is no subscription cost to use the comprehensive OSHC portal. Simply just plug and play the SaaS-based tool and start earning a dedicated income.
How Check The Below-Mentioned Features:
- Compare quotes from leading OSHC providers
- One-click onboarding process
- White labeling & Widget integration
- Earn generous commission of up to 15% on each policy
Do you wish to become a KONPARE partner? We offer no lengthy contract or agreement process. Simply check out our sign-up form and instantly onboard.
We guarantee you seamless OSHC processing with the best quotes from leading providers. Isn’t it better to manage just one portal rather than to tie up individually with various providers and manage quotes? Think again!