9 Ways for Improving Franchise Lead Generation
- Stay in touch with your targeted customer. ...
- Hire an expert in franchise development. ...
- Create a separate recruitment website. ...
- Don’t be afraid to spend money on leads. ...
- Get rid of what’s not working. ...
- Content Marketing ...
- Invest in paid search. ...
- Take advantage of social media. ...
- Website Design. Before purchasing a franchise business, most entrepreneurs go through an extensive, self-directed research process. ...
- SEO. ...
- PPC Advertising. ...
- Programmatic. ...
- Social Media.
How do you attract more franchisees?
How to attract potential franchiseesEstablish your brand as an authority. ... Do community marketing. ... Optimize your website. ... Use existing franchisees as advocates. ... Leverage franchise opportunities websites.
How can I increase my leads quickly?
Here are five foolproof ways to generate leads for your business:Facebook Ads. Facebook ads are one of the best ways to drive leads. ... Personalized email marketing. ... Discounts and coupons. ... High-value content. ... Referral Partnerships.
How do I promote my franchise?
10 Best Ways to Market your FranchiseBuild Your Online Presence Online.Work Social Media.Redo Your Marketing Materials.Be Content Savvy.Understand the Conversion.Redo your Franchise Logo.Understand How Critical a Franchisee Is.Leverage Your Connections.More items...•
How many leads should I generate a day?
According to experts, the optimal amount of leads a B2C business should generate per day is 150.
What is the best source for leads?
Top 7 Sales Lead SourcesReferrals. Referrals from your best clients are your best source of quality leads. ... Former Clients. ... Competitors. ... Business & Sales Intelligence Tools. ... Google Resources. ... LinkedIn. ... Relationship Marketing.
What is a good ROI for a franchise?
However, there is an oft-repeated rule of thumb that, after the second full year in business, a franchisee should be realistically able to anticipate a 15- 20% per year ROI plus an equitable salary for whatever work they do in the business. Should you measure this as Investment ROI or Cash-on-Cash?
How do you attract franchise investors?
However, if you follow these simple tips you will be on the right track!Position Your Brand as an Expert in its Domain. ... Make Yourself Appealing to Franchisees. ... Strong Communication with Your Current and Potential Franchisees. ... Use Existing Franchisees as Brand Evangelists. ... Create a Strong Web Presence.More items...•
Can a franchise make you rich?
The bottom line is that while a franchise can make you independently wealthy, it isn't a guarantee. Choosing the right business in the right industry, and going in with preexisting entrepreneurial experience and/or existing wealth can help, but your income-generating potential may still be somewhat limited.
How do I generate leads automatically?
How do you generate leads automatically? There are different ways to automate lead generation. Chat boxes, cold email campaigns, personalized blog post recommendations, and website use notifications, for example. They're all automated to save you time, while still producing valuable lead data.
How long does it take to generate leads?
It takes about six to nine months to start seeing solid results. The more time, money, and effort you put into your campaign, the better your lead generation results will be.
How do you attract sales leads?
Ask current customers for referrals.Work with your network to identify sales leads.Engage with sales leads at networking events.Revisit closed and lost opportunities.Find sales leads on relevant social media networks.Optimize your social media profiles to attract ideal sales leads.Create an email sequence.More items...
Getting More Franchise Leads
Over the last decade of working in the Franchise space, I can probably count on one hand the number of times that someone has said to me, “we have too many franchise development leads”.
Franchise Lead Conversion Rates
Behind the scenes, you should only count on closing between 0.5% – 4% of all of the franchise development leads that you get. That’s basically one out of every 25 – 200 leads, depending on how strong your franchise brand is, the ROI, and the lead sources that you are driving the franchise leads from.
Other Franchise Lead Sources
Where else do they come from? A big chunk of franchise leads come from referrals and existing customers. In my mind, these are the best types of franchisees, because they are essentially free and come from you doing a good job with your existing brand and franchisees.
Where Franchise Sales Come From
But, I can tell you that we see about 50% of our franchise sales coming from Google and 50% coming from Facebook. Google tends to convert a little higher than Facebook, as often times those leads have more intent to buy. But, since Facebook leads are about 1/3 the price of Google, based off of sheer volume, Facebook can do really well.
Franchise Leads Competitor Terms
Branded Terms are people searching specifically for your brand plus the word “franchise”.
Done For You Services
Need help? Don’t want to figure this stuff out on your own. Feel free to reach out. This is what we do
What else do you need to attract franchise leads to your franchise?
Now that you have the franchise story in the works, you need prepare other key types of franchise marketing materials.
What is franchise email?
Franchise emails – franchise emails are a powerful franchise lead nurturing tool that help educate franchise leads about the details of your franchise and drive them through the franchise sales funnel. We have built a very detailed article about franchise emails and how to use them effectively.
What is a franchise social media account?
Franchise social media accounts – these are the platforms through which you will be delivering your franchise story and franchise testimonials. This is the place where you will be creating advertisements in order to drive traffic to your franchise website. Social media platforms include Facebook, Instagram, and LinkedIn, just to name a few. The importance of social media in franchise marketing is outlined here.
What happens if you make mistakes marketing your franchise?
If you make mistakes marketing your franchise the costs will be much higher. Costs of lost opportunities, for example.
What is the purpose of telling a franchise story?
By telling this story you create what called brand awareness. You make your potential franchise leads know that your franchise exists. That’s it – it’s simple.
What is a franchise product?
For you as a franchisor, your product is the franchise: a well oiled business machine created for the purpose of bringing people to become business owners and franchisees, leading them to financial freedom. Your franchise is your baby and deep inside you know that its business model works, because it worked for you.
Why is product important in franchise operations?
For franchise operations people, the product is more important because they have to deal with product related issues on a daily basis.
What does it mean when a franchise is good but nobody knows about it?
If your franchise product is good but nobody knows about it, that means it was presented in the wrong way. Another issue can arise if your franchise product was presented to the wrong audience.
What is franchising business?
Franchising is a people’s business and franchise sales is a complex process with a long sales cycle . It requires special sales skills and discipline to stay the course following the sales steps.
What is franchise sales?
Franchise sales are often referred to as a “numbers game” where a certain number of franchise leads are required to close a sale. The numbers can vary based on who you ask, but the main point is that before getting into franchise lead generation, you must resolve certain issues in the franchise recruitment process.
What is sales lead?
Sales leads are the blood of all franchise organizations. Failing to get quality franchise leads can be frustrating for both franchisors and brokers. When things are going well and companies are getting a healthy flow of franchise leads, they can move them down the sales pipeline and eventually convert some prospects into franchisees.
Why is it important to analyze sales performance?
Analyzing sales performance using a CRM software should help refine the business development process, get better leads, and, as a result, close more sales. There are many ways to get franchise leads and lead generation activities can be outsourced or developed in-house.
Do you have to identify the problem before prescribing?
Although most of the time the problem with leads seems obvious, the issue can be more complex that it might look.
What is worthless if you aren't tracking results?
That means rolling up your sleeves and looking at your website analytics. Your email open and clickthrough rates. Your ad campaigns results.
Why do franchisees need separate marketing strategies?
You have a marketing strategy to attract customers, but you need a separate franchise marketing strategy, because potential franchisees have different needs and care about different information than customers of your business do.
Is marketing a set it and forget it thing?
Marketing isn’t a “set it and forget it” thing. What worked last month may be an abysmal failure this month. You need to continually track results, make slight adjustments, and keep working to ensure that your franchise is being seen by potential franchisees.
Email Marketing For Franchise Leads
If you are in the franchise business, you need to generate leads for your new venture. However, you may be wondering how to generate leads effectively. There are a few different methods that you can use to get more franchise leads. One of them is to create your own newsletters. Then, you can send out these newsletters to your potential franchisees.
Franchise Recruitment Portal
One of the methods is to create a recruitment website. There are many franchise recruitment websites out there, and you can use them to get prospects to register with your company. It is important that you create your recruitment site with the help of a professional agency. You can also create a blog to share helpful articles about your franchise.
Franchise Sales Funnel
Another effective method of franchise lead generation is to create a sales funnel. Creating a sales funnel can help you generate qualified leads for your franchise. This can be done through keyword research, which helps you identify the terms and phrases that relate to different stages of the buying journey of a prospect.
Lead Generation via. Social Media
Social media sites are an important tool for franchise lead generation. Facebook, LinkedIn, Twitter, and other social media sites are popular among the younger generation. These tools are proven to be highly effective in generating leads for franchises. The more people you target, the more likely you will be able to convert them into customers.
Franchise Brand Story Telling
In order to generate franchise leads, you need to create interest. Tell a story that people can relate to. The best stories can speak to people and captivate their imagination. It is crucial to tell a story to attract people’s interest and help them buy your franchise.
Third-Party Lead Generation Services
In addition to generating franchise leads, you can also use third-party lead generation services. You must thoroughly vet the third-party company to make sure that it will meet your needs. It should also have a list of their previous clients and understand your business.
Table of Contents
Identify The Franchise Sales Problem
- Before assigning a prescription to the problem, you must identify the problem first. Although most of the time the problem with leads seems obvious, the issue can be more complex that it might look. There are 4 major areas to pay attention to: Three of them, called the 3Ps – People, Product, Process are well covered by Marcus Lemonis, the multi-billion dollar business owner and starrin…
Have A Franchise Marketing Plan
- Make sure to define and allocate a franchise marketing budget before getting one more franchise lead. If you are just getting started with franchise development, make sure that marketing funds are a part of your startup costs, built into your business model, and included in franchise fees. Established franchises looking for exponential growth should review their marketing plan at leas…
Measure Franchise Lead Generation Performance
- “You can’t manage something you don’t measure,” said Tony Robbins in his article “The 2-Millimeter Rule”. This statement applies to measuring franchise sales and marketing performance. Know where your franchise leads are coming from and the quality of the leads. Monitor what sources generate the best franchise leads. Document what advertising platform a…
Create A Franchise-Specific Marketing Strategy
Have A Separate Franchise Site
- We’ve discussed before the importance of having a separate website dedicated to franchisingrather than lumping it together with the rest of your primary site. The reason for this: franchisees want more than just one page of content telling them why they should invest in your franchise. Having a dedicated franchise site means you can dive into the history of your compan…
Develop Content For Each Stage of The Buyer’s Journey
- A person who wants to start a business but doesn’t yet know whether that will be from scratch or with a franchise needs vastly different information than someone who already knows, for example, that she wants to invest in a childcare franchise. It’s important to tailor content for each stage of that buyer’s journey. On your franchise site, you might have downloadable content that …
Measure Your Efforts
- Whatever effort you put into marketing the franchise side of your business will be worthless if you aren’t tracking results. That means rolling up your sleeves and looking at your website analytics. Your email open and clickthrough rates. Your ad campaigns results. Note what’s driving leads and invest more into those marketing channels. If, after several months, a tactic isn’t doing what you …
Keep Tweaking Your Approach
- Marketing isn’t a “set it and forget it” thing. What worked last month may be an abysmal failure this month. You need to continually track results, make slight adjustments, and keep working to ensure that your franchise is being seen by potential franchisees. This can be a full-time job, and might be one you don’t have the manpower on staff for. That’s where hiring a franchise marketin…