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When setting goals and determining their budgets, franchise brands should leverage their sales data to position their brands for optimal growth.&nbsp;“Sales is more than just saying ‘I want X number of deals. Here’s my budget. Let me make that happen,’” 1851 Franchise publisher Nick Powills said in <a href="https://www.youtube.com/watch?v=THOLuEU82dA&amp%3Bfeature=youtu.be&utm_source=1851franchise.com&utm_medium=article&utm_campaign=what-every-franchise-brand-needs-to-understand-about-their-sales-data-2713257" target="_blank" rel="nofollow">a webinar for last month’s #TheGreatReturn franchise summit</a>. “It’s deeper than that. It’s being strategic on the front end to understand a pathway to how you get to winning,”One way to leverage sales data is by thinking ahead: Franchise brands should think ahead to the results they want to see at the end of 2020 and plan accordingly. When they do look back on 2020, they should reflect on the actions that led to their sales success and examine any missteps they took.&nbsp;Franchise development company Raintree believes that, when used properly, data can be a huge asset to franchise brands.&nbsp;“In terms of data, we’re big believers in the power of data and the effects it has when you utilize it properly,” CEO Brent Dowling <a href="https://www.youtube.com/watch?v=BycLi_xHQeU&amp%3Bfeature=youtu.be&utm_source=1851franchise.com&utm_medium=article&utm_campaign=what-every-franchise-brand-needs-to-understand-about-their-sales-data-2713257" target="_blank" rel="nofollow">said in another webinar during the same summit</a>. “Especially in the last few years, we’ve seen just how important it is to have a really solid understanding of data at all levels of the franchise development program, both from a marketing and sales standpoint.”&nbsp;Raintree has also spent time on the gamification of data and how it helps sales teams to improve themselves and results, Dowling said.&nbsp;Buffalo Wings &amp; Rings Chief Development Officer Thomas Flaherty noted that sales are about understanding company goals.&nbsp;“It’s really understanding where the organization wants to go over the next one, three, five, 10 years and beyond,” Flaherty said.&nbsp;And franchise brands do not need to worry too much about getting too deep into data that they may not even want or need.&nbsp;“Keeping it simple is actually a big part of this,” Angela Cote of Franchise Growth Catalyst said. “I think it’s good to have all of the data and access to track, but picking out what is most important for you and your brand is a big part of it.”&nbsp;On a related note, it is imperative for franchise brands to make sure their franchise development websites are designed to engage audiences.&nbsp;“The website is vital, and understanding its performance is key,” Dowling said. “That’s a very easy place for brands to start.”&nbsp;Franchise brands should also make sure they’re doing everything they can to make sure their franchise development websites are fully optimized in order to convert casual browsers who love the brand into prospective franchisees, Cote said. She noted that franchise brands often miss this particular opportunity.&nbsp;“What are you doing to convert them into a person thinking about being a buyer?” Cote said. “How are you speaking to them, and how are you measuring those organic opportunities?”&nbsp;Ultimately, when it comes to franchise growth and leveraging sales data, there is no one recipe for success. Franchises need to do what ultimately works for their brand.&nbsp;“There is no magic bullet to winning at franchise growth,” Powills said. “Let’s throw that off the table. There is no magic to this.”&nbsp;Bottom line: Data drives sales for franchise brands, helps uncover blind spots and allows brands to double down on what works. In leveraging their sales data in a way that works for them, franchise brands will position themselves for optimal growth.

What Every Franchise Brand Needs to Understand About Their Sales Data

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What Every Franchise Brand Needs to Understand About Their Sales Data

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