Franchise Update Magazine Issue IV, 2014 | Page 49

Website Response Luis Zuniga, Mile Marker 10 T o evaluate how well participating franchisors responded to prospects online, Zuniga set up separate email, phone, and voicemail accounts. Using a fictitious name, he contacted franchisors through their websites to express interest in becoming a franchisee. Each email and voicemail response was tracked and graded on a variety of objective factors, such as response frequency, number of calls, information provided, and clarity of “next step” instructions. Respondents were also graded on subjective factors, such as tone of voice, energy, and sense of personal and sincere interest. What were the key findings and results of your research? The strong performers all called and emailed me. They called a minimum of three times spread over 5 to 7 days and sent me personalized and customized emails. Their first email may have been an automated response confirming receipt of my information, but all subsequent emails were personal follow-ups. I developed a scoring system consistent across all franchisors and graded them based on levels of response. The highest score a company could earn was 26 points. Only two companies earned this amount. What surprised you most about your research findings? The number of franchisors that did not respond at all, even to tell me, “Thank you, but we’re not accepting new franchisees” or “We are already mature in your region.” As a prospective franchisee, I may also be an existing or prospective customer. Not responding or not showing interest is likely a reflection of their business performance and relationships with their existing customers. What are franchisors/development teams doing well? Some get it. Some have a communication outreach plan where their phone calls refer to an email sent the day before. Email campaigns are programmed so a particular message is left with each email telling a compelling company story and increasing the interest level for the prospect. What are franchisors/development teams doing poorly? Some companies are not following up on leads, even if only to say, “Thank you, but you do not qualify.” This may also represent poorly other aspects of their business (i.e., if they aren’t responding to a prospect, how much support will that prospect get once they become a franchisee?). Some franchisors are also not tapping into the insight of risk-taking. Many prospects are actually risk-averse: they are willing to give up a percentage of their sales for a proven business model. Because some prospects are risk- averse, some development teams can do a better job developing a communication plan that addresses this insight (uncertainty) up front and explains why their particular franchise model might be a good fit for them. Any other recommendations? It’s good to have an auto-response that just confirms to the prospect that their information has been received, e.g., “Thank you for your interest. We have received your information…” Do not present it as a personal message when it is auto-generated. Leave key follow-up data in the body of the message, such as the name of the person (if you have it) who will call the prospect back. Provide a specific time window (not too broad) that states when the contact person will return the call to the prospect. That person should use a reassuring tone. The right tone can let a prospect know that their interest is being taken seriously, their investment decision is an important one, and that the sales rep wants to help them make the most informed decision, even if not with them. If there is a series of emails that will follow over the next few days or weeks, make mention here. You could even state what these emails may cover. For example, the first email may be about the initial training support offered, the second about the marketing support offered, and so on. Keep it short, but capture these important next steps. Many franchisors do this today. However, you’d be surprised at how many do not. Grow Market Lead Mystery Shoppers Mobile Response Michael Alston, Landmark Interactive T o understand how franchise prospects research their investment, Michael Alston, president of Landmark Interactive, studied more than 30 million Internet visits made since 2010 to leading franchise portals. The company tracked how people connected to the Internet and whether mobile users came to a website or downloaded an app. Particular attention was paid to franchise prospects who were serious enough to contact a franchisor through an email form. What were the key findings and results of your research? The mobile Internet passed a major milestone for franchising this year with 54.2 percent of franchise recruitment leads being sent from mobi