Franchise Sales Lead Generation High Tech or Just Throwing Darts?
by John Jorgenson, CEO-Easy Way Leads
Identifying qualified franchise prospects as efficiently as possible
requires a targeted approach compared to simply generating lots of unqualified
leads from various market areas.
Have you ever left that box checked “Yes it’s OK to send me
newsletter/marketing information from you or your partners?” Sometimes you
have to agree to these terms if you want to download the free software, get the
discounts, read the white paper, etc. This is one way to start your
‘digital footprint’ which is very long and tracked by many companies in the data
industry. Have you ever wondered why an advertisement pops up for a
company that you were previously viewing on another site? It’s not a
The larger question is how can you utilize this demographic information to sell
franchises? How valuable would it be to market to those prospects that fit your
candidate profile in the exact area where you have open territories? How
successful would your sales staff be, if they only talked to financially
qualified candidates in open territories? Wouldn’t it be more efficient to
talk to less people and do more deals?
Large companies, especially in the retail industry, lead the way in
generating these algorithms to identify their most likely customers and adjust
their marketing and advertising budgets to “fish where the fish are biting”.
The GAP stores are not spending marketing dollars where your Grandmother
frequents. So why don’t we do this in franchise sales? The answer is
because it’s not easy to do. Where do we find the data? How do we develop
a message to the specific data set? How do we deploy it and will it work since
we have never tried it before? What we do know is if we continue to do
what we have been doing we will sell some franchises. We are aware that we
have done deals from a certain set of lead sources and advertising programs in
the past. Trying something new is a little scary for a lot of people. Even
when we know intuitively it works in other industries and could be applied to
Where do you start? You have to make the best possible effort to
identify your customer like they do in retail. So start with your existing
customers, your franchisees, to develop a concise candidate profile. Often
times that conversation begins with “our franchisee base has little in common,
we have people from the accounting, construction and health care industries; in
fact our best franchisee was an astronaut before joining us – how many
ex-astronauts are we going to find?” Believe it or not these people have
common traits that are the reason that they were attracted to your franchise
You can start with some of the basic demographic information like gender, age
distribution, financial position, previous job positions and industry types (not
specific) they have in common. You may find your candidate profile is a
male, between 38 and 58 (it’s OK to have ranges), with a net worth of
approximately $500K who has been in some type of service oriented business.
Now you’re off to creating a great candidate profile. However, the data
that is available today can be granularly filtered. So try to identify if your
most likely candidate would subscribe to Golf Magazine or Field and Stream,
because you can filter the data based on this type of psychographics as well.
Now determine the most effective and economical way to reach this defined
candidate profile. The easiest way is to select a database that includes
just your candidate profile. Yes that’s right; a filtered list of the
people who would most likely buy your franchise, for the territory you have
available. Then find the most economical way to present your opportunity
to them. There are a number of ways to communicate to the people on this
list; email, direct mail, telephone calls, etc. It becomes a cost conversion
factor of prospect to candidate, usually email turns out to be the most cost
effective way to make this conversion. Compare the cost of this approach
to that of a nationwide approach that would involve areas not yet available for
development or those already franchised.
A drawback of this type of “Acquisition Lead Generation” is that you are
approaching people that have not been qualified and probably have not thought
about being in your business. However, with a much larger sample size you
will contact enough people who are qualified and may find your concept
intriguing enough to buy. Granted it does add a step to the sale process
by having to get a prospect excited about your concept, but that’s when it all
comes back to relationship building and salesmanship. It is much better
than spending two weeks with a candidate, only to find out Uncle Harry has all
the money and he is not interested in your franchise.
John Jorgenson is CEO and Founder of Easy
Way Leads, the leader in highly qualified lead generation in the franchise
industry. Easy Way Leads has affiliate companies, Membership Leads and Max
Enrollment that generate leads for Country Clubs and Private School Education
respectively. He can be reached at 888-712-7512 or
Manual For Franchise Buyers
Endorsed By American Association of Franchisees and Dealers.
you thinking about buying a franchise? There's a lot you need to know
before you invest if you want to be successful as a
franchisee. My guide,
Buyer's Manual, is a self-help tool that helps you decide whether or not
franchising is for you and teaches you how to get the information you really
need to choose the best franchise opportunity.
for more information.