The More The Merrier
Acquiring new Franchise Candidates
Every franchise system wants to scale their brand and open more and more franchise units. Makes sense, you love your brand and you want the world to experience the value it provides. However, acquiring franchisees is not easy and it can be very expensive. Most franchisors leverage Franchise Sales Organizations (FSOs)who connect their brand to Franchise Consultants (Brokers). The Broker networks funnel leads interested in purchasing a franchise to the FSOs to sell your brand. During the process, the Broker takes a very large cut of the Franchise Fee leaving the franchisor and the FSO to split the difference.
I have spent many years developing and improving my Non-Broker Acquisition process/ methodology. It contains four phases: Attract, Generate, Nurture, and Convert. There is a lot of art and science that goes into an effective and efficient Acquisition capability.
Services
-
Attract
It starts with really understanding the motivations of your strategic target audience. I employ Growth Marketing starting with several strategic insights so that we can ABCD test. By the way, there is a way to place media to help drive lower cost per acquisition with the right audience.
-
Generate
Once we have analyzed the data- which campaign generates the most sales qualified leads (SQLs)- we choose the right campaign. We place media in the right geographies and continue to AB test to hone and improve lead flow.
-
Nurture
All prospective candidates are not the same. Creating a multi-platform Lead Nurture system can allow for prospective franchisee candidates to receive the right information over a period of time based on their personality type and risk tolerance.
-
Convert
Ultimately, success is measured by how many prospective franchise candidates sign their franchise agreements. There is a difference between NonBroker (organic) leads and candidates brought in through the Broker networks. Understanding and catering to the differences (as well as similarities) is critical to conversion.
Franchisee Local Customer Lead Generation
Are your franchisees growing their customer base? New customers are the lifeblood of every franchisee. The process of local customer acquisition is fairly straightforward. Yes, Marketing plays a massive role. However so do the other functions. Operations, Finance and Marketing all play roles in generating customer value. Generating value is the first step to successful customer acquisition. When the Value Equation is right, then customer acquisition is driven from paid sources or word of mouth. Paid acquisition is driven by disruptive content and math sufficiency. Word of Mouth is a science upon itself. I spent eight years at Procter & Gamble understanding how to systemically drive Word of Mouth. It is the the most powerful marketing however it difficult to generate. I would be happy to chat both Paid Acquisition and Word of Mouth.
