Franchise Results: Getting the Most out of Your Franchise Marketing System
The key to an effective franchise marketing system is to having a solid plan in place and then executing according to that plan systematically and consistently in order to drive results. One of the reasons that Strategic Franchise Brokers provides outsourced franchise sales support is that in providing franchise broker services, it became apparent that most franchise systems are drastically understaffed and undermanned for what is needed to drive results from a franchise sales campaign.
A franchise marketing system is composed of several parts and all need to be addressed in order to create results and ultimately sales from the dollars and time invested in the franchise development process:
- Have a good franchise marketing and sales plan – who is the buyer, what are the targets for growth, what markets are you focusing on and what qualifications are important for you to evaluate each buyer. Once you have this defined, you then can begin to allocate your franchise marketing budget and understand what needs to be spent in order to create these results.
- Marketing budget and planning – now you need to know what money has to be spent and where the money should be spent in order to create results. There are a wide variety of different ways to generate franchise leads, some more effective than others, so marketing dollars need to be allocated correctly. Franchise tradeshows, franchise portals, franchise PR, direct mail, franchise brokers and others are all valid franchise marketing channels and all require certain resources and dollars to make them work.
- Franchise sales process – you need to define the process that buyers should go through in order to convert them as sales. How many calls, what evaluation forms and what discovery day process are all extremely important for how well you will convert sales and qualify new franchisees.
- Franchise sales staff and resources – now you need to make sure you have the right people in place to spend time on franchise sales. Typically, a good franchise sales person can manage 350-500 leads in a month before they start to lose their ability to follow up as much as needed and spend the time needed with each candidate to get the most out of your franchise leads.
Strategic franchise brokers can be this resource for your system and will do this for a performance based compensation model making the concept much more appealing and reasonable for a new franchise system. We start with an initial franchise consultation to review your processes, current results and the overall goals for growth, then let us help you find better franchise sales solutions moving forward.
For more information on how to build your Franchise Marketing Systems, contact us: https://www.strategicfranchisebrokers.com/contact/