Franchise lead development can be fruitful if done right. The reality is, there is no one-size-fits-all approach to this practice, but it can always be bolstered if approached correctly. There are several avenues franchisors can take to get there – but the best bet is to figure out what works best for the specific franchise.
Every strategy doesn’t work for every system – so it is important to identify the concept needs foremost. Looking to create more volume? Want lead quality over quantity? Knowing what the end game is before beginning can help you determine the best route to get there.
Get in front of the right audience
The road to any successful franchise lead generation strategy first and foremost begins with finding that target audience. Lots of money and time can be spent on advertising in a variety of different ways – but it won’t mean much if the recipients have no interest nor the capital to even engage in the ask.
Creating a franchise buyer persona is a great way to establish who you need to target. By defining exactly what types of franchisees are successful for your concept, you can build the right approach down to the when, where and how to reach qualified candidates.
Create copy that converts
Once you know who to go after, you need a way to reel them in. Research suggests franchise buyers invest in concepts based on these key elements: good track record; product adaptability/flexibility; affordable entry costs and fees; and brand image. These are the items you need to tell your story and engage the imagination of a potential franchisee.
Your content should be equal parts research, strategy, and storytelling. The content must be tailored to the audience in which you are trying to reach while being both specific and relatable. People want to attach themselves to a brand they believe in – so let your content do the talking.
Broaden lead sources
In the franchise lead gen world, you never want to put all your eggs into one basket. It is very uncommon to find a franchise that finds success off just one medium. Sticking with one source can eventually lead to the well running dry, so it is imperative you find a variety of lead gen sources to work for you. Customers today are constantly evolving, and you need to make sure you are evolving along with them.
Overall, the key to effective franchise lead development requires an investment. Having a nice mix of both time and resources allocated to this portion of your business will lead to a more diverse strategy, ultimately leading to more success.