This is not my experience. But don’t take my word for it.
Why else do you think students get software or checking accounts for free or much lower cost? The net LTV of getting users accustomed to your product who later evangelize it for free is priceless.
Why else do you think students get software or checking accounts for free or much lower cost? The net LTV of getting users accustomed to your product who later evangelize it for free is priceless.