Your existing database is a goldmine of prospective franchisees that most franchisors forget to engage with explains Adam Love, Head of Online Marketing at Coconut Creatives.
Your existing database is full of prospective franchisees. You may have been in touch with them when they first enquired but when they didn’t progress any further down the recruitment process, it is likely that you threw them back into the pot and you haven’t really been in contact with them since. Your database is a valuable resource and it is important to keep in contact with your prospects on a regular basis to give yourself a greater chance of recruiting more franchisees.
There are a number of reasons why prospects may remain in your database for a long period of time before they become franchisees. Personal and financial situations may change, which is why it is important to keep your franchise in the front of their minds so that when they do decide to take a leap of faith, you are the first person they will come to.
Regular communication with your existing database is crucial, especially if you are operating on a low budget. By making the most of existing prospects, you can save money and resources on finding new leads and focus more on the high quality leads you already have.
How do I re-engage the leads in my database?
For your communication to have maximum impact, it is important to make sure that it:
- Is attention grabbing
- Has a target audience in mind and has the correct tone
- Is short and clear
- Creates demand
- Includes a call to action
- Offers an incentive.
When you are communicating with your database, make sure you have something to say or something to offer to get the best response. Things you could offer include:
- Expert guides
- Hints and tips
- Personalised invitation to visit HQ
- Industry reports
- Tour of a franchisee’s business
- Monthly newsletter.
Regular activities like the ones listed above come at little or no cost to you but offer a great return – new franchisees! Even if the prospects don’t sign up straight away, these activities will keep them ‘warm’ and interested in your franchise. Regular contact also builds trust between you and your prospects which is essential once the franchisor-franchisee relationship has been formed. It will also help you to stay ahead of your competition and make sure your brand is the first that a prospect will think of when they decide to take the next step in the decision-making process.
For more advice on this topic you can book on to our Setting a SMART Approach to Franchisee Recruitment workshop on 11th October 2016.