Successful franchisors will testify that franchisees are the lifeblood of any thriving Franchise Network. So, what do these franchisors do differently to be successful?
They have an effective Franchisee leads follow-up process.
Let’s look at four important factors to have an effective Franchisee leads follow-up process.
- Follow Up With EVERY Potential Franchisee Lead
Every potential franchisee lead must be followed up as you don’t know anything about the lead until you contact them. It could just be the gem that you are looking for. Potential franchisee leads should be entered into your CRM system as soon as they are received and that each one is assigned to someone for immediate follow-up. Check and make sure that 100% of your leads are being followed up or they could be falling through the cracks. If you aren’t checking, it isn’t happening.
- Respond Immediately
Every potential franchisee lead must be followed up immediately as every minute that passes by while you wait to follow up with a lead is time that a competitor franchisor will use to swoop in and talk to the prospect before you. If they respond to the potential franchisee with the answers to their questions first, then you are suddenly fighting for second place. By following up immediately will result in more qualified prospects in your pipeline.
- Have Your Answers Ready
It is not enough to be the first to respond to the potential franchisee lead. You must also be the first to answer their questions. The first franchisor to immediately respond to a potential franchisee lead with complete answers will build trust, credibility, and dramatically increase your chances of winning the franchisee!
- Measure, Improve and Measure Again
You must continually work to improve your potential franchisee lead follow-up process. As the old saying goes, “you can’t improve what you don’t measure.”
So, keep it simple to start with, and measure the following:
- How many potential franchisee leads do you receive each week/month?
- How long does it take to respond to each potential franchisee lead? (The time between when the lead is received until a sales person talks to them for the first time)
- What percentage potential franchisees leads are converted into qualified prospects?
Set goals for these metrics, and then check each month to see if you are achieving them. If you are, set more aggressive goals and fine-tune each element of your lead follow-up process to achieve those new goals. If you aren’t meeting your goals, examine each element of your process in detail, and implement steps you can take to improve those elements. Then check your performance again in a month.
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