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<p style=" 0.0001pt; background: white;"><span style="">The hunt for the mystical franchise sales unicorn continued at <a href="http://www.franconnect.com/franconnection/about-the-summit/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franconnection-2016-winning-at-franchise-development-what-to-know-about-closing-the-gap-4670" target="_blank" rel="nofollow" target="_blank">FranConnection 2016</a> as an expert panel moderated by <a href="http://www.franconnect.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franconnection-2016-winning-at-franchise-development-what-to-know-about-closing-the-gap-4670" target="_blank" rel="nofollow" target="_blank">FranConnect&#8217;s</a> President Keith Gerson and led by Sean Fitzgerald, chief development strategist for <em><a href="http://www.1851franchise.com/" target="_blank">1851 Franchise</a></em>, and Scott Oaks, vice president of franchise development for <a href="http://www.brightstarcare.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franconnection-2016-winning-at-franchise-development-what-to-know-about-closing-the-gap-4670" target="_blank" rel="nofollow" target="_blank">BrightStar</a>, debated ways to close the gap in lead generation, marketing and effectiveness.</span></p><div>&nbsp;</div><div><span style="">The discussion started with a few key stats from Franchise Update Media Group, highlighting some survey stats from its annual Franchise Leadership &amp; Development Conference:</span></div><div>&nbsp;</div><div><span style=" background-color: white;">60 percent of brands that attended the conference tracked cost per lead</span></div><div>&nbsp;</div><div><span style=" background-color: white;">$97 average cost per lead</span></div><div>&nbsp;</div><div><span style=" background-color: white;">58 percent of brands that attended measured cost per sale</span></div><div>&nbsp;</div><div><span style=" background-color: white;">$6,300 average cost per sale</span></div><div>&nbsp;</div><div><span style=" background-color: white;">&#8220;These stats are a good starting point, but stats and data will vary by brand size and awareness,&#8221; cautioned Fitzgerald. &#8220;The reality is brands rarely set aside a proper budget to achieve their sales goals.&#8221;</span></div><div>&nbsp;</div><div><span style=" background-color: white;">Robert Stidham, president of <a href="http://franchisedynamics.net/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franconnection-2016-winning-at-franchise-development-what-to-know-about-closing-the-gap-4670" target="_blank" rel="nofollow" target="_blank">Franchise Dynamics</a>, echoed that opinion based on data from his clients.</span></div><div>&nbsp;</div><div><span style=" background-color: white;">&#8220;The cost per lead makes sense, but franchisors will need various budgets to accomplish their desired franchise sales goals. Those stats will change, especially if you have a blend of multi-unit sales in your channel or if you are an established brand.&#8221;</span></div><div>&nbsp;</div><div><span style=" background-color: white;">The panel used the above stats as a barometer for franchise sales planning, in that if a brand wants to award 50 units next year, they will need some sort of multiple of a budget in order to accomplish that goal.</span></div><div>&nbsp;</div><div><span style=" background-color: white;">&#8220;Most franchise brands use an $8,000 to $12,000 per deal range as the starting point for developing a budget for accomplishing sales goals,&#8221; Fitzgerald said.</span></div><div>&nbsp;</div><div><span style=" background-color: white;">During the discussion, it was clear that the outlets in which franchisors spent money varied. Still, portals seem to be a part of the spend mix.</span></div><div>&nbsp;</div><div><span style=" background-color: white;">&#8220;The portals are consistently at $40 to $60 per lead,&#8221; Fitzgerald said. &#8220;Everyone is saying that portals are not as effective as they were, but, it depends how you are using them. Some are using it simply as building a digital footprint, therefore, measuring only a cost per lead will not be truly definitive of the success of that campaign.&#8221;</span></div><div>&nbsp;</div><div><span style=" background-color: white;">Oaks said he used a multiple touch point plan, in which he leveraged a little of everything to create the right awareness for the prospective audience.</span></div><div>&nbsp;</div><div><span style=" background-color: white;">&#8220;We use PR, marketing and advertising so that we can have the best chance at putting our message in front of as many prospective franchisees as possible,&#8221; Oaks said.</span></div><div>&nbsp;</div><div><span style=" background-color: white;">Blocking and tackling seems to position brands best for winning at franchise growth.</span></div><div>&nbsp;</div><div><span style=" background-color: white;">&#8220;Having a very detailed process, utilizing a tracking tool like FranConnect, and marketing your defined positioning will best set you up for winning. There is truly no silver bullet in sales. It&#8217;s doing the fundamentals really well. You will never be able to know that if you spend X you get Y with franchise sales. Validation and marketing of the opportunity in many places will give you your best chance at feeling good about your growth,&#8221; Fitzgerald said.</span></div>

1851 Franchise

Sean Fitzgerald, chief development strategist for 1851 Franchise and Scott Oaks, vice president of franchise development for BrightStar, debated best practices in lead generation.

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