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THE EVOLUTION OF THE      FRANCHISE SALES LEAD   Transforming Franchise Recruitment Strategies for Delivering Increased Le...
THE EVOLUTION OF THE                    Matt Alden, CFE | President                                Franchise Solutions & F...
The Evolution of theFranchise Sales Lead                        Leads/Prospects/Buyers                   [BEHAVING DIFFERE...
The Evolution of the                             Leads/Prospects/BuyersFranchise Sales Lead                            [BE...
The Evolution of the                                        Leads/Prospects/BuyersFranchise Sales Lead                    ...
The Evolution of the                                               Leads/Prospects/BuyersFranchise Sales Lead             ...
The Evolution of theFranchise Sales Lead         Lead Generation                          Social Technology               ...
WHO’S BUYINGFRANCHISES TODAY?Marc KiekenappKiekenapp & Associates
Who’s Buying Franchises Today?• 52% of todays franchise units are  now operated by multi-unit  franchisees• Experienced mu...
Survey Results of High                      Producing Multi Unit Owners• Consider allowances that reasonably address the  ...
Survey Results of High                     Producing Multi Unit Owners• Decisions are based on logic    Successful busine...
Incentives for Multi Unit                                        Franchisees•   Franchise fees•   VetFran fees•   Financin...
FDDFinancial Performance Representations             (Item 19)
Survey Results of High                               Producing Multi Unit Owners• Relationships are key• They want access ...
Attracting and Marketing for                                     MU OwnersFirst Steps• Create a Profile of ideal candidate...
Research Process• Information quickly [FDD is usually requested upfront]    Be prepared and ready to respond with the    ...
Sales Team Experienced and                                            Knowledgeable• Decisions are logic-based [much less ...
Sales Team Experienced and                                   Knowledgeable• Understand the business    Real Estate    Bu...
EMERGING FRANCHISORFRANDEV SURVIVAL GUIDE  Michael Haith  CEO & Founder  Franchise Sherpas
SUCCESSFUL BEHAVIORS FOR           EMERGING FRANCHISORS• The Top 10 Successful behaviors of the „new age‟  1. Who are YOU?...
CANDIDATES WANT…… YOU!• Reflection of the Founder(s)  • Describe yourself
CANDIDATES WANT CULTURE• Candidates want culture  – What makes your culture unique
CANDIDATES WANT COMMUNITY• The members of the community
YOU + CULTURE=COMMUNITY
HOME PAGE-EMOTIONAL CONNECTION• The ONE shot at an emotional  connection!
CANDIDATES WANT THE STORY!• Benefits communicated through third  party
LEAD GENERATION• PR-in house or PR-Firm• Portals• Brokers• Social Media• Trade Shows
CANDIDATES WANT SIMPLE• Simple requests
CANDIDATES WANT TRUST• Understand your candidates• Know how to Sell!• Don‟t waste money!!
TRAINED SALESPEOPLE!• Design and follow a structured process• In House vs. Hiring Vendor
MEASURE EVERYTHING! •   Invest •   Question •   Understand Metrics •   Mystery Shops Lead Generation Costs – $20-50 per le...
HOW IS FRANCHISELEAD GENERATIONCHANGING?Thomas ScottFranchise Performance Group
HOW MANY LEADS DOES IT TAKETO RECRUIT A SINGLE FRANCHISE OWNER?
CONTENT LENGTH FOR TOP 10 RANKING
CONTENT LENGTH FOR TOP 10 RANKING         Froyo franchises NOT on page 1         132              Froyo Franchises on Page...
Q: Why Does              Favor Longer Content?A: Google doesn‟t prefer more content becausethey feel it is more valuable; ...
FRANCHISE                 FRANCHISE   LEADGENERATION                     =      BUYER                          GENERATION ...
A CHANGE IN THE WAY PEOPLE SEARCH
LEAD GENERATION:intersecting people who needwhat you have at the point theyare looking for itBUYER GENERATION:Engaging buy...
TRADITIONAL FRANCHISE LEAD GENERATION     Email           Franchise                           Radio or                    ...
NEW FRANCHISE LEADGENERATION Lead Generation New FranchiseORGANIC          XM                         EMAIL      BRAND    ...
CHANGE #1 DIFFERENTFRANCHISE WEBSITESChange From This:                      To This:
CHANGE # 2:BRAND STORYTELLING                     Single most important part of                       your lead generation...
CHANGE #3: ORGANIC SEO        Awareness            Franchise          Interest                             Leads are   Fra...
CHANGE #4: PPC                                                                 5660         Merging PPC with Organic      ...
CHANGE # 5: FRANCHISE PORTALS • Ad content matters! • All portals rank differently organically • Linking direct to your we...
CHANGE #6 RETARGETING
CHANGE #7: SHORTER FORMS• Long forms are a recipe for disaster• Shorter the form, the higher the  conversion rate and the ...
IMPROVING YOURFRANCHISE RESULTSBY OVER 200% Amit Pamecha, CFE FranConnect - Captivate CEO and Co-Founder Amit @ franconnec...
KEY TRENDS• 2012 was one of the best years in the  last 4 years for most franchise systems• Qualified lead volume up in 20...
5 IDEAS FOR 2013 AND BEYOND
YOU ARE LIKELY TO SPEND A FORTUNE ON LEAD GENERATION       Traditional                     Non-Traditional       Brokers  ...
100% of Your A MajorityProspects Will Will Visit YourGoogle You FranchiseAfter Seeing Websiteyour FranchiseAdvertising
MOST FRANCHISE SYSTEMS DO A TERRIBLE JOBOF CAPTIVATING THEIR PROSPECTS                Average time      Visitor to Bounce ...
Idea #1: EngagementYour Franchise Development Website isyour #1 Asset for generating more leadsand signing up more franchi...
THE SALES PROCESSGiven the small team sizes, mostfranchise systems do not rigorously followa structured awarding process• ...
Idea #2 The Development ProcessImplement a structured awardingprocess that is transparent to thecandidate and to your team...
Idea #3 Dashboards and PerformanceManagementMeasure Every MetricGiven the lost deals and royalty revenuesat stake, flying ...
MEASURE EVERY METRIC WITH CUSTOM DASHBOARDS FOR INCOMING LEADANALYSIS, PROCESS ANALYSIS, LEADS KILLED, ROI AND COSTS AND Y...
Idea #4Reduce the cycle time involved•   Best Practices-    Responding to all leads within 1 hour-    Educating them prior...
Idea #5Implement Technology for CostSavings, Lead Generation and HigherClosing Rates  – CRM Systems  – Email marketing too...
THE EVOLUTION OF THE                    Matt Alden, CFE | President                                Franchise Solutions & F...
Ifa2013 1.23.13
Ifa2013 1.23.13
Ifa2013 1.23.13
Ifa2013 1.23.13
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Ifa2013 1.23.13

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The Evolution of a Franchise Sales Lead.

*Transforming Franchise Recruitment.

*Strategies for Delivering Increased Lead Generation

*Closings and Recruiting Better Franchisees

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Transcript of "Ifa2013 1.23.13"

  1. 1. THE EVOLUTION OF THE FRANCHISE SALES LEAD Transforming Franchise Recruitment Strategies for Delivering Increased Lead GenerationClosings and Recruiting Better Franchisees
  2. 2. THE EVOLUTION OF THE Matt Alden, CFE | President Franchise Solutions & Franchise.comFRANCHISE SALES LEAD MODERATOR Marc Kiekenapp | President/CEO Kiekenapp & Associates PANELIST Michael Haith| CEO & Founder Franchise Sherpas PANELIST Thomas Scott| Content Marketing & Lead Generation Franchise Performance Group PANELIST Amit Pamecha, CFE| CEO & Co-Founder FranConnect PANELIST
  3. 3. The Evolution of theFranchise Sales Lead Leads/Prospects/Buyers [BEHAVING DIFFERENTLY!] IFA Convention 2013 The Evolution of the Franchise Sales Lead
  4. 4. The Evolution of the Leads/Prospects/BuyersFranchise Sales Lead [BEHAVING DIFFERENTLY!] Why is Behavior Changing? M = From 0% to 1/3 Traffic & Leads…
  5. 5. The Evolution of the Leads/Prospects/BuyersFranchise Sales Lead [BEHAVING DIFFERENTLY!] Why is Behavior Changing? More Accessible than Ever Before Less what You Say About Yourself, [TODAY] = More what Others are Saying About You. POWER for BUYERS! [when you controlled the info, you knew their questions] IFA Convention 2013 The Evolution of the Franchise Sales Lead
  6. 6. The Evolution of the Leads/Prospects/BuyersFranchise Sales Lead [BEHAVING DIFFERENTLY!] What it Means for FranDev… How to Compete for Buyers? PEOPLE & PROCESS Intuition | Adaptability | Flexibility [Prospect Intel & Sophistication Levels Highly Variable] CONCEPT APPEAL & PERFORMANCE I19 | Validation | Reputation [Appeal = Clear Evidence of Credibility & Marketplace Performance]
  7. 7. The Evolution of theFranchise Sales Lead Lead Generation Social Technology [Embracing Transparency]
  8. 8. WHO’S BUYINGFRANCHISES TODAY?Marc KiekenappKiekenapp & Associates
  9. 9. Who’s Buying Franchises Today?• 52% of todays franchise units are now operated by multi-unit franchisees• Experienced multi-unit/multi-brand operators continue expanding in spite of the economy!• They have access to capital• Portfolio investment buyers• Legacy buyers• Equity partnerships who grow and flip businesses• Career transition
  10. 10. Survey Results of High Producing Multi Unit Owners• Consider allowances that reasonably address the larger business relationship that this “partnership” will create• ROI is key to the decision  Be prepared to build proformas  Experienced franchisees can help
  11. 11. Survey Results of High Producing Multi Unit Owners• Decisions are based on logic  Successful business model  Detailed earnings claims  Talking with High Producers  Share key metrics with prospects  They want to speak with operational minded staff that talk their lingo
  12. 12. Incentives for Multi Unit Franchisees• Franchise fees• VetFran fees• Financing• Royalty fees• Reduced ongoing technology fees• Transfer fees• Marketing fees
  13. 13. FDDFinancial Performance Representations (Item 19)
  14. 14. Survey Results of High Producing Multi Unit Owners• Relationships are key• They want access to the CEO/COO [This is a balancing act]• The process is slower and it takes an experienced sales professional to read between the lines• Patience is “Golden” [they will move at their own pace]
  15. 15. Attracting and Marketing for MU OwnersFirst Steps• Create a Profile of ideal candidate• Select Area Development Markets• Target Market to the areas and candidates you want in your system  Purchase Lists  Portals [on site & email]  Deploy multi faceted campaigns  Conduct Webinars
  16. 16. Research Process• Information quickly [FDD is usually requested upfront]  Be prepared and ready to respond with the information• Financial Information about the operating units  Prepared packets approved by legal• Validation from existing multi unit owners  Experienced multi unit owners know how to do this very well  Make sure your system is ready for the calls  Make sure you know what your franchisees are saying
  17. 17. Sales Team Experienced and Knowledgeable• Decisions are logic-based [much less emotion-based]  Successful business model  An understanding of how the business operates [They want to speak with ops-minded staff that talk their lingo]  Detailed FPR’s  Talking with high producers  Share key metrics with prospects
  18. 18. Sales Team Experienced and Knowledgeable• Understand the business  Real Estate  Build Out  Operational  Financial  Employees  Food/Product Cost  Marketing• Legal  A full understanding of the FDD
  19. 19. EMERGING FRANCHISORFRANDEV SURVIVAL GUIDE Michael Haith CEO & Founder Franchise Sherpas
  20. 20. SUCCESSFUL BEHAVIORS FOR EMERGING FRANCHISORS• The Top 10 Successful behaviors of the „new age‟ 1. Who are YOU? 2. Cultural Story Telling 3. Community Profile 4. The Cover -The Home Page 5. The Story-Content 6. Finally! Lead Generation 7. Make it easy! 8. A Sales Process that builds trust 9. Trained Sales People 10. Metrics-Measure Everything
  21. 21. CANDIDATES WANT…… YOU!• Reflection of the Founder(s) • Describe yourself
  22. 22. CANDIDATES WANT CULTURE• Candidates want culture – What makes your culture unique
  23. 23. CANDIDATES WANT COMMUNITY• The members of the community
  24. 24. YOU + CULTURE=COMMUNITY
  25. 25. HOME PAGE-EMOTIONAL CONNECTION• The ONE shot at an emotional connection!
  26. 26. CANDIDATES WANT THE STORY!• Benefits communicated through third party
  27. 27. LEAD GENERATION• PR-in house or PR-Firm• Portals• Brokers• Social Media• Trade Shows
  28. 28. CANDIDATES WANT SIMPLE• Simple requests
  29. 29. CANDIDATES WANT TRUST• Understand your candidates• Know how to Sell!• Don‟t waste money!!
  30. 30. TRAINED SALESPEOPLE!• Design and follow a structured process• In House vs. Hiring Vendor
  31. 31. MEASURE EVERYTHING! • Invest • Question • Understand Metrics • Mystery Shops Lead Generation Costs – $20-50 per lead – Conversion program and costs 10% lead to CQ – Application $300-500 per CQ – Conversion ratio and costs 3-5%
  32. 32. HOW IS FRANCHISELEAD GENERATIONCHANGING?Thomas ScottFranchise Performance Group
  33. 33. HOW MANY LEADS DOES IT TAKETO RECRUIT A SINGLE FRANCHISE OWNER?
  34. 34. CONTENT LENGTH FOR TOP 10 RANKING
  35. 35. CONTENT LENGTH FOR TOP 10 RANKING Froyo franchises NOT on page 1 132 Froyo Franchises on Page 1 1407 Printing Franchises NOT on Page 1 363 Printing Franchises on Page 1 984Carpet Cleaning Franchises NOT on Page 1 421 Carpet Cleaning Franchises on Page 1 1107 Home Care Franchises NOT on Page 1 395 Home Care Franchise, Page 1 1004 0 200 400 600 800 1000 1200 1400 1600 Word Count on Home Page
  36. 36. Q: Why Does Favor Longer Content?A: Google doesn‟t prefer more content becausethey feel it is more valuable; they prefer content rich sites because the data shows you like it
  37. 37. FRANCHISE FRANCHISE LEADGENERATION = BUYER GENERATION If you don’t sell consistent with how people buy, they don’t buy.
  38. 38. A CHANGE IN THE WAY PEOPLE SEARCH
  39. 39. LEAD GENERATION:intersecting people who needwhat you have at the point theyare looking for itBUYER GENERATION:Engaging buyers with theinformation they want in theformat they want when andwhere they are looking for it
  40. 40. TRADITIONAL FRANCHISE LEAD GENERATION Email Franchise Radio or PPC Campaign Portals Print Lead Source Lead Source Lead Source Lead SourceConversion Form Conversion Form Conversion Form Conversion Form Franchise Franchise Franchise Franchise Salesperson Salesperson Salesperson Salesperson
  41. 41. NEW FRANCHISE LEADGENERATION Lead Generation New FranchiseORGANIC XM EMAIL BRAND PPC PORTALSSEARCH RADIO BLASTS SITE Franchise Company Website LEAD Your Brand Story FORM Goes Here FRANCHISE RECRUITER
  42. 42. CHANGE #1 DIFFERENTFRANCHISE WEBSITESChange From This: To This:
  43. 43. CHANGE # 2:BRAND STORYTELLING Single most important part of your lead generation is your Internet Content Strategy.
  44. 44. CHANGE #3: ORGANIC SEO Awareness Franchise Interest Leads are Franchise Industry Info here Franchise Category Franchise Comparative Shopping Buyers are Brand Name here Brand Research
  45. 45. CHANGE #4: PPC 5660 Merging PPC with Organic SEO and content marketing50 produced a 43% Increase4030 18 142010 0 Leads from PPC Leads from Organic Search page with both PPC ad and organic ranking Leads from
  46. 46. CHANGE # 5: FRANCHISE PORTALS • Ad content matters! • All portals rank differently organically • Linking direct to your website can create a breakthrough • Using downloadable reports or white papers can improve lead quality • Portal Email campaigns produce better leads than portal advertising
  47. 47. CHANGE #6 RETARGETING
  48. 48. CHANGE #7: SHORTER FORMS• Long forms are a recipe for disaster• Shorter the form, the higher the conversion rate and the more closes• 70% of information on forms is inaccurate*• Forms giving someone a download produce leads that go farther in the sales process• Forms need to be on EVERY PAGE *source: John Henning, Lead Scheduling Service Survey
  49. 49. IMPROVING YOURFRANCHISE RESULTSBY OVER 200% Amit Pamecha, CFE FranConnect - Captivate CEO and Co-Founder Amit @ franconnect.com
  50. 50. KEY TRENDS• 2012 was one of the best years in the last 4 years for most franchise systems• Qualified lead volume up in 2012• Improved Financing scenario for mature franchise system with strong Item 19
  51. 51. 5 IDEAS FOR 2013 AND BEYOND
  52. 52. YOU ARE LIKELY TO SPEND A FORTUNE ON LEAD GENERATION Traditional Non-Traditional Brokers SEM/ Google PPC Referrals SEO Internet Portals Social Media Email Blasts City Specific Seminars Print Advertising Monster, Career Builder Trade Shows Real Estate Firms TV Advertising XM RadioWhat is the one common buyer behavior across all these activities?
  53. 53. 100% of Your A MajorityProspects Will Will Visit YourGoogle You FranchiseAfter Seeing Websiteyour FranchiseAdvertising
  54. 54. MOST FRANCHISE SYSTEMS DO A TERRIBLE JOBOF CAPTIVATING THEIR PROSPECTS Average time Visitor to Bounce Rates spent by Prospect of 50% or prospects – conversion Higher less than 2.5 rate of less minutes than 1.8%
  55. 55. Idea #1: EngagementYour Franchise Development Website isyour #1 Asset for generating more leadsand signing up more franchises!
  56. 56. THE SALES PROCESSGiven the small team sizes, mostfranchise systems do not rigorously followa structured awarding process• More than 50% leads do not get a follow-up call for more than 4 hours• No qualifier in place for most systems• Lack of relationship building and trust• Forcing “ALL” applicants through a boring multi-part brochure• Lack of time sensitivity in a deal
  57. 57. Idea #2 The Development ProcessImplement a structured awardingprocess that is transparent to thecandidate and to your team!Your process should be flexible toaccommodate different kinds ofcandidates
  58. 58. Idea #3 Dashboards and PerformanceManagementMeasure Every MetricGiven the lost deals and royalty revenuesat stake, flying blind is not an option
  59. 59. MEASURE EVERY METRIC WITH CUSTOM DASHBOARDS FOR INCOMING LEADANALYSIS, PROCESS ANALYSIS, LEADS KILLED, ROI AND COSTS AND YOUR OWNCUSTOM REPORTS
  60. 60. Idea #4Reduce the cycle time involved• Best Practices- Responding to all leads within 1 hour- Educating them prior to phone calls- Electronic FDD Receipt (not just delivery)- Online Financial Qualification Forms- Early Validation
  61. 61. Idea #5Implement Technology for CostSavings, Lead Generation and HigherClosing Rates – CRM Systems – Email marketing tools – Virtual Brochures – Video Conferencing – Candidate Information on LinkedIn, Google, Zillow
  62. 62. THE EVOLUTION OF THE Matt Alden, CFE | President Franchise Solutions & Franchise.comFRANCHISE SALES LEAD MODERATOR Marc Kiekenapp | President/CEO Kiekenapp & Associates PANELIST Michael Haith| CEO & Founder Franchise Sherpas PANELIST Thomas Scott| Content Marketing & Lead Generation Franchise Performance Group PANELIST Amit Pamecha, CFE| CEO & Co-Founder FranConnect PANELIST
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