My time and experience in franchise development has provided me with an insightful view into the way franchise sales teams sell. I speak to franchise sales teams almost every day and I’ve taken note of common gaps in their processes. The gaps typically exist in one, or more, of the following three places.
1. Lead Generation
2. Lead Management
3. Franchisee Conversion
Here are some tips to fill those gaps and improve your sales process:
Consistently feed the top of your sales funnel by taking advantage of the resources available to you:
- Determine your advertising budget
- Make a list of all potential ad outlets
- Shortlist those most suited to your brand
- Select the winners and allot a dollar amount to each source
- Pay attention to their performance. Shut down non-performing sources and re-allocate
All leads matter. Remember this. Nurture all of them in perpetuity. You paid good money to generate these leads – don’t throw that investment away. Invest similarly in managing them. Too often, viable leads are carelessly disqualified or simply ignored.
- Make it extremely easy for leads to get all the information they need at any time
- Utilize marketing automation technology
- Push information to your leads using all mediums available to you (email, phone, mail, text, webinar)
- Never stop
Let your closers close. Don’t rely on them to open. For many of you reading this; that closer is you. Lead management and prospect qualification can be handled largely by technology, an outsourced firm, a junior hire, or a combination of all of the above. Spend the time to put the infrastructure in place so that you, and your closers, can do what you do best.
- Fine tune the stages in your sales process
- Properly assign the party responsible for each stage
- Invest in a great CRM
- If you don’t have a closer other than yourself – get one
Your sales process is a machine. Keep it well-oiled. Gaps in your process will bring the machine to a halt. Identify the gaps and then fill them with people and technology.
Article originally published in the Fall 2018 issue of The Franchise Voice
Vice President, Business Development
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