Are you looking to develop multiple franchise units per year? The number of leads may not have a significant impact on your franchise. Quality franchise leads are the key.
The Cost of Using Portals
In a franchise base, leads come from a variety of sources. One of the most commonly used ways is through portals. A portal has a few questions covering basic criteria of what you are seeking. Examples of questions to ask potential franchisees include:
What is your net worth?
Do you have enough reserves of working capital?
Can you operate a franchise system and follow directives?
What entrepreneurial skills are you bringing to the table?
How committed is your company to the franchise industry?
Even after making the above inquiries, you might end up with garbage leads from a portal. Keep in mind there’s a price to pay for every lead. The cost of using portals may seem relatively small at first but, gradually, it adds up to huge amounts. Suppose you pay at least $30 per lead. Still, you might get unqualified prospects. It means you are getting crappy leads. You’ll be spending money that would otherwise be put to good use.
According to the Annual Franchise Development Report, successful brands incur a lower average cost per lead. They also have a higher conversion rate for qualified leads.
The big question is: are you getting quality franchise leads?
Is It Possible to Get Qualified Leads From a Portal?
There are many portals franchisors use to generate leads. But you shouldn’t rely too heavily on them. Are you closing leads from web portals? If not, it’s time to rethink your marketing strategy.
Over the last few years, these platforms have been experiencing a drop in outcomes. Many franchisors have stopped using them. Often, they bring impossible-to-reach, unresponsive, or unqualified leads. Hopping from one portal to the other will only disappoint you. You need to reduce the amount of money your company is spending on portals.
Do you want to continue generating leads that are inconsistent? There is no need to trick visitors into giving information and then recycling leads. Forwarding contact details of people who aren’t interested in franchising is pointless.
It’s Time to Change Tactics
Synuma provides one of the best assessment tools for quality franchise leads – one you won’t find anywhere else in the industry. It allows your sales team to parse out their criteria. Before you engage with your prospects, there are particular qualities you would want them to have.
Synuma’s assessment tool has a built-in survey you can display on your company website. This saves time for your sales team. You also get the prospective franchisees to pre-qualify themselves up to a particular point.
How a Synuma Assessment Prequalifies the Incoming Leads
A Synuma Assessment is not just used in the sales module. It is also used in other operations and development plans. It depends on your current needs.
Basically, this is a survey builder. You may use it to create questionnaires. If you have an internal form in a standard format, it allows you to apply weighted scores to the answers. You get to deploy a set of questions to your audience. Your audience, in this case, could be the leads, general managers, or general contractors.
Your audience fills out the questionnaire as requested. Their response can be in the form of comments, yes/no answers, or pictures. Once you receive the response, Synuma analyzes the information at an individual level, allowing you to see trends among the respondents.
Mind How You Sell
How you market your franchise operations is just as important as what you sell. The process you put your prospects through should be thoughtful. It should also be in their best interest and not yours. The value of your brand affects the leads. Most businesses don’t make it into the sales funnel because they are using the wrong tactics for lead generations.
Leads are only half of the puzzle. Quality franchise leads are the lifeblood of your business. More leads will not help if your salesmen cannot convert them into sales. Contact us today to try a Synuma Assessment and start building more quality franchise leads!