Using the right customer relationship management platform can be the difference between closing deals and letting them slip away
If we were to choose the three most important aspects of managing leads in franchise development marketing, they would be timing, communication, and organization. The ability to bring all three of these together in well-performing software can be the difference between closing deals and letting them slip away. Franchise development digital marketing is a niche of its own, so it is important to utilize an appropriate customer relationship management platform equipped with the distinct tools needed for franchise development transactions.
You have five minutes to make or break an internet lead. That’s it. The odds of you making contact with that lead more than five minutes from the moment they submit their interest decreases tenfold by minute six and beyond. Shockingly, data from Harvard Business Review tells us that only 37% of companies respond to online leads within the hour, leaving a ghastly number of leads left with nothing to do but seek contact elsewhere.
On a more positive note, if we severely narrow the response time, a study by Lead Connect conveys a 391% increase in conversions – closed deals — if the lead is contacted in one minute or less. Why then, wouldn’t a franchisor contact a lead immediately? Realistically, few companies have the manpower to call back every lead within the first minute of it being generated. That’s where an excellent CRM can help.
Auto chat, text (SMS) and email services built into a CRM are a must. These systems are set up to contact your prospect immediately via text and/or online chat and engage them until your frandev team can get them on the phone. Efficient lead response time is crucial when managing online leads.
A good CRM system can be the best assistant you’ve ever had
Making communication count
Once a lead has been captured and is engaging with the system, it’s easy enough to follow up in person. But what about when contact isn’t made after the first or second attempt? A good CRM system will send a message via SMS immediately, then execute the delivery of an email shortly after, or at the very least, remind you to send it. Some frandev professionals intend to send texts manually but time and effort quickly result in that practice falling by the wayside. CRM systems make sure that doesn’t happen. In addition to drip campaigns, frandev pros should be able to correspond with prospects, record or at least store communications with them for reference later, monitor their funnel progression, and keep track of important documents like signed FDD forms, all within their CRM software.
Organization is key to improve your franchise sales output
If your inbox is like most, keeping track of leads, their correspondence, appropriate documentation, etc among all your other emails would be a daunting task – especially when there is an influx of leads daily. The franchise development sales process is complex. Unlike consumer marketing, franchise salespeople are selling a lifestyle, a new business endeavor, a change of scenery, more than a product. This means genuinely building a relationship with the prospect by keeping accurate details of each and every interaction. Multiply this by the number of leads you receive in a week and you understand the importance of keeping information organized.
In summary, a good CRM system can be the best assistant you’ve ever had. It can reach out to prospects immediately when you can’t, manage your communications, remind you to reach out when you are expected to, and keep every aspect of the sales process organized and easy to access at any given moment. A quality CRM that specializes in lead management for those in the franchise industry is a must for any franchise entity seeking a boost in franchise sales.