Three Things Today’s Candidates Want
The art of selling franchises is nothing new, but it is ever-changing. Things simply are no longer done the “old way” and in order to continually see success, you will need to adapt.
By Scott Mortier
It is very clear that franchise development folks only have one thing on their minds -- leads. The more the better. These days, leads are becoming harder and harder to come by, and qualified leads might as well be an old wives’ tale. Cold calling leads you received through franchise portals or emailing names you got off a purchased list seldom yield the results you were hoping for. At this point, it is very clear that the way we need to sell franchises has changed.
Since we talked about what your franchise sales department wants, it’s only fair if we cross the aisle and talk about what your franchise candidates desire. The truth is that both parties need each other. But, you do need to treat them better. As technology changes, the way we sell franchises has to change, too. The internet has created a new breed of franchise prospect that has access to a wealth of information that can help sway their decisions. Today’s franchise candidates are evolving and so are their wants, needs, behaviors and preferences.
They Want to See Your Website
When it comes to recruiting franchise prospects, your website matters more than any other tool in your sales belt. Regardless of where potential franchise buyers hear about your brand, it is only a matter of time before they begin performing their due diligence and find your website. It is not only your job to get them to the franchise section of your website, but to also keep them engaged long enough to take in the all the information you want them to see.
First things first: Make your franchise section easy to find. Have it tabbed on your home page. Odds are someone who is interested in your franchise doesn’t want to dig to find the information they want; if you make them do so, they’ll probably never see it. Display it prominently.
After you establish your franchise site, it really only has two jobs:
- To increase the number of educated and engaged interested prospects, and
- To convert these interested prospects into actual leads.
Content = Conversations
Twenty years ago, 90 percent of franchise leads could be easily reached by telephone. Today, you’re lucky if you can reach a little under half of that. Franchise leads want to do their own research and reach out to salespeople when they feel ready, not the other way around. Your leads hold the buying power, and it’s up to you as the franchisor to give them the right information to lead them to you.
Here is a simple fact I want to share with you: content earns conversations. The days when you could just present a few selling points and a phone number are long behind us. Don’t expect leads to come to you, but rather the opposite. Your site should definitely have some sort of lead capture form and offer prospective candidates enough reason to fill it out.
Nowadays, in order to get leads interested, you need to present them with rich content. Seriously consider populating your franchise sales site with a variety of useful content pieces like blog articles, videos and testimonials -- really as much content as your budget will allow. You want to present them with dynamic, well-written, easy-to-follow and engaging pieces that will serve to educate them about your opportunity and also motivate them to leave their contact information so they can begin their journey through the sales funnel.
They Want to be Nurtured
Your leads want to be nurtured, if you have any hope of converting them. Once leads have researched your opportunity thoroughly, watched every video, read every article, they will have likely filled out a lead capture form at some point.
Aside from receiving their names and phone numbers, you can also get their email addresses, which should automatically opt them into an email drip campaign designed to warm them up and get them ready to buy. The purpose of these emails is to nurture your leads with relevant information that guides them to the next step in the funnel, all while setting you up for franchise recruitment success.
If you do your job right, your website teaches them about the industry, the history of your brand and what they can expect as a franchisee. After they’ve read these materials, an automated email drip campaign can then take over and educate them about how to actually become a franchisee.
Ideally, you want somewhere between three to five emails that detail the support new franchisees can expect to receive such as successful franchisee testimonials, special financial offers they can leverage and anything that can lead them to a hard sell. As always, these emails should be well-written, to the point, have your contact information readily available and designed with mobile email in mind.
Email marketing campaigns are fairly easy to set up and execute and have become a go-to marketing tactic across the industry. Something to consider is that on average, for every dollar spent on an email marketing campaign, you can expect an ROI of about $45. Now considering the fact, that you are converting franchise leads, you can expect an ROI significantly higher than that.
At this point, these franchise prospects have become pretty comfortable with your concept and your brand overall. If you’ve piqued their interest and given them a clear point of contact, they’ll be more than ready to reach out and discuss.
They Want You to Get Back to Them Quickly
Have your phone by you at all times and turn the ringtone volume up as high as it can go. You never know when a franchise prospect will have the urge to reach out and when they do, you certainly do not want to miss it. The same goes for emails or questions left on your website. If you make them wait before getting back to them, you may have already lost them among the sea of other similar concepts.
The art of selling franchises is nothing new, but it is ever-changing. Things simply are no longer done the “old way” and in order to continually see success, you will need to adapt. It is up to you to help guide your prospects and give them the right information and tools to attract them to you. Every candidate is different, but their desire to be educated before making an investment is the same across the board.
Scott Mortier is the president of The Franchise Whales, a franchise incubator company, and executive vice president of Business Development for Dental Fix Rx, Froots, Tikiz Shaved Ice & Ice Cream, Gyroville and more. Find him at fransocial.franchise.org.