1851

In sales planning, franchise development leads typically start out with a budget. How do they create their budget? Simple math:

My franchise sales goal is 10 units. Last year we awarded five units and budgeted $100,000 for marketing activities. That means our cost per deal is $20,000. Therefore, I need $200,000 for this year.

Makes sense.

Then, they start to look at places to deploy that budget.

I need to tighten up my franchise sales site. I am going to advertise on the portals because they have strong SEO and should get my brand into some discussions (even though the leads are always bad). I am going to spend on PPC and retargeting. Some on PR. Some on shows. Maybe a few email blasts.

Then, someone asks them a question about what worked the year they sold five.

I don&rsquo;t know. Well, we sold one because their friend owned one. Oh, and two customers loved our product and bought. I think the other two said they Googled us &ndash; so search engine.

Then, you start to dissect what that means.

Three referrals &ndash; one from a friend push and two as customers. So, do you market within your four walls?

Absolutely not. Marketing has a strict line in the sand about franchise marketing. And franchisees don&rsquo;t want more franchisees.

But referrals are clearly your number one source and &ldquo;I don&rsquo;t know&rdquo; &ndash; I mean, search engine, is second. And, in today&rsquo;s world, you can pin-drop or geofence locations. Aren&rsquo;t referrals the pathway of least resistance?

The good in this situation is that budget went up, cost per deal was specific to brand X and the intentions to grow are right. The challenge in this situation is there are a lot of unknowns. We haven&rsquo;t figured out the right persona. We are not sure how two deals got to our website (arguably the most important staff member of someone in franchise sales is their lovely franchise website). The opportunity? Clearly, it&rsquo;s referrals. Clearly, we have to do something that doesn&rsquo;t &ldquo;interfere&rdquo; with the consumer experience.

Far too often, brands don&rsquo;t plan for marketing or driving to referrals, yet, they are historically the most valuable asset for a brand. As you prepare your 2019 budget and strategy, are they a part of the mix? Have you asked the right questions to maximize your budget? Do you have the right strategic partner that is helping guide you to set up your complete marketing plan?

Certainly, these are some things to think about as you try to win next year.

People source people &ndash; meaning, people will help more people win for your brand. Don&rsquo;t discount the value of your brand army. They can be influential in achieving higher growth goals.

People Source People – How are You Leveraging Your Referral Network

1851 Franchise

Far too often, brands don’t plan for marketing or driving to referrals, yet, they are historically the most valuable asset for a brand.

people-source-people-how-are-you-leveraging-your-referral-network

Express Employment Professionals

How This Veteran Helps Others Find Work Through Express Employment Professionals

how-this-veteran-helps-others-find-work-through-express-employment-professionals

SweatHouz

SweatHouz Franchise - SWTHZ - Brenna and Kevin Dorsey - North Bethesda, Maryland - 1851 Franchise

A Family Bet on Wellness: The Dorsey Duo’s Journey With SweatHouz in North Bethesda, Maryland

sweathouz-franchise-north-bethesda-dorsey

Dillas Quesadillas

images of dillas quesadillas included in Franchise Times’ roundup of restaurant brands expanding

Franchise Times: Dillas Primo Quesadillas Featured as a Brand in Expansion Mode

franchise-times-dillas-quesadillas-expansion-mode

Right at Home

Right at Home Expanding In-Home Care Services in Rockford

right-at-home-expanding-in-home-care-services-in-rockford

TruBlue Home Service Ally

Step-by-Step: What the First Year of Owning a TruBlue Home Service Ally Looks Like

step-by-step-what-the-first-year-of-owning-a-trublue-home-service-ally-looks-like

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

FAT Brands Nears Bankruptcy as Creditors Demand Repayment of $1.3 Billion Debt

fat-brands-nears-bankruptcy-as-creditors-demand-repayment-of-13-billion-debt

Callaway Sells Majority Stake in Topgolf to Private Equity for $770 Million

callaway-sells-majority-stake-in-topgolf-to-private-equity-for-770-million

Keith Sizemore headshot, Radiance Holdings

Radiance Holdings Names Keith Sizemore Chief Development Officer

keith-sizemore-radiance-holdings-cdo

Jobseekers Are Flocking to “Unglamorous” Jobs — And Home Service Franchises Could Benefit

Jobseekers Are Flocking to “Unglamorous” Jobs — And Home Service Franchises Could Be Poised To Benefit

jobseekers-shift-boosts-home-service-franchises

The future of recovery studios, health and wellness franchise

The Future of Recovery Studios: Why Wellness Franchises Are the Next Fitness Boom

the-wellness-boom-recovery-franchises-future-fitness

Photo of group of dogs standing together in day care facility

Top Pet Boarding and Day Care Franchise Opportunities for 2025

top-pet-boarding-daycare-franchises

Empowering Entrepreneurs: Resources and Franchises for Minorities

empowering-entrepreneurs-resources-and-franchises-for-minorities

The Top 15 Pet Wellness and Vet Care Franchises for 2025

top-pet-wellness-franchise-opportunities

Top Education Franchises To Consider for 2025 - 1851 Franchise

Top Education Franchises To Consider Investing In for 2025

top-education-franchises-investment-opportunities

image of jerome hanway from right at home Las Cruces, New Mexico 1851 franchise franchisee spotlight

Jerome Hanway Is Building His Right at Home Franchise Around His Mission To Serve

right-at-home-franchise-las-cruces-jerome-hanway

A Practical Playbook: Who To Call First When Franchising Your Business

franchising-your-business-who-to-call-first

1851 Franchisee Spotlight graphic with photo of Eli Cohen, Layne's Chicken Fingers logo

C5 Restaurants Grows its Texas Footprint with 40 Layne’s Chicken Fingers Locations Planned Statewide

eli-cohen-laynes-chicken-fingers-texas

image of stephen westerman and matthew westerman, owners Fort Walton Beach Two men and a junk truck

Twin Brothers Move From Managers to Owners with New TWO MEN AND A JUNK TRUCK Franchise on the Gulf Coast

twin-brothers-two-men-and-a-junk-truck-fort-walton-beach

Paris Baguette Welcomes Zac Sulma as New Chief Operating Officer

new-coo-zac-sulma

People Source People – How are You Leveraging Your Referral Network

MORE STORIES LIKE THIS