Many principals found that after the epidemic, it became more and more difficult to renew fees. The principal of an English training Whatsapp Database institution in Henan told me that before the epidemic, the renewal rate for old students was about 80%, but this year, the renewal rate was less than 50%, which made him Whatsapp Database very Headache. However, in the revenue system of the head agencies, the renewal fee is steadily increasing. On August 21, New Oriental Online released the 2020 fiscal year performance report for the year ended May 31, 2020.
The report shows that New Oriental Online achieved revenue of 1.081 billion yuan, compared with 919 million Whatsapp Database yuan in the same period last Whatsapp Database year, a year-on-year increase of 17.6%. , A large part of the revenue comes from the renewal of regular-priced classes, and the renewal rate exceeds 70%. You must know that online education has always been criticized for high customer acquisition costs and low retention, but the renewal rate of .
New Oriental Online can exceed 70%, which is really admirable. From this, it can be seen that the renewal rate of New Oriental Online Whatsapp Database is higher. According to statistics, since the introduction of the policy of charging no more than 3 months, Whatsapp Database New Oriental has to renew classes 6 times a year, in January, March, May, July, and September. The renewal rate for offline classes is 95%, which is far beyond learning and thinking.