Bring Out Your Dead

Remember – “Bring out Your Dead? Well, you might be killing your leads too early, too. 

In the early 1990s,  I was in charge of US development for a top QSR franchise. 

At that time we relied on targeted marketing by DMA (Designated Market Area), trade shows and the display advertising to attract attention to our franchise offering.

Ours leads came in by telephone, brochures & applications were mailed and the follow up was telephone and FAX machine.

We were very good at managing our prospective franchisee pipeline using a basic CRM and Excel. We tracked conversion, diligently followed up with candidates until they bought or dropped out of the franchise sales process.

So we pretty much knew a lead was dead when it was dead. We had done our best with our qualified leads to maintain interest in our program but for some we couldn’t create that intense desire to buy.

We knew some of the leads might make other franchise investments and others would make no decision to buy a franchise.

Our brand was very well known. We invested heavily in lead generation and got a lot of leads every year. 

But we wanted to do more with the qualified leads who quit us and our process.

So we brought our sales team together to solve the problem of following up with someone who was no longer pursuing our franchise and may not be enthusiastic about talking with us.

We knew we had to have a solution that was thoughtful and easy for our prospects. We needed the qualified lead to respond to us and it was important that they do something that told us they wanted to re-activate their franchise application.

Here are the four simple things we did –

  • Created a well crafted an inviting sales letter to re-attract attention.

  • Used the best and fasted technology available – A FAX machine. 

  • Asked our dead lead one question – “Would you like to reactivate your franchise application?”

  • Gave them one thing to do to restart the process – Simply fax back this letter and we will get you back on track to developing your first restaurant”.


The program worked great!

We revived “dead” leads and sold more franchises.  How might you try that today?  Come to CAFA on Tuesday, May 20th and let’s chat.

 

If you only sell one franchise because of attending this Lunch and Learn, it will be worth it!

Time: Tuesday, May 20th from 11:45 – 2pm

The Tower Club in Tysons Corner VA 

Registration 11:45 – 12:15 – Lunch 12:15 – 12:45 – Round Table 12:45-2:00

Click Here to Pay and Register 

 

Why Passionate Franchisors Cannot Sell, Neil Rackham Explains in Two Minutes.

Neil Rackham is one of the best known modern sales leader who combines expert theoretical knowledge with practical intuitions to deliver effective sales-as-a-process tools.

Sales-as-a-process dates back to NCR’s founding father, John Henry Patterson. Rackman, the author of Spin Selling, has updated some of Patterson’s original thinking about how to create an effective sales process.

One surprising result is that passion won’t produce sales.  Because passionate people aren’t conscious listeners.

Neil Rackham explains why in this video -pay attention to the first 2:12 minutes.  [Neil is talking about entrepreneurs, but he could be also talking about franchisors.]

The fundamental reason why [franchisors cannot sell franchises] is that, almost by definition, a franchisor has a deep enthusiasm for what they are doing and their products.

And one thing we know about selling, we’ve known for nearly forty years, the best selling isn’t at all about your products and what you can offer, it is very much about the customer and their needs.

And franchisors very often swamp the customer.

After all, since 1970 research has shown that in a sales call the more time a customer talks the higher the probability that the call will succeed.

In my experience, franchisors cannot help themselves.  When they get in front of the customer, they want to tell them The Story.

It can be a very compelling story, it just doesn’t cause the franchise prospect to buy, as well as if they focused on the prospect and listened to what the prospect needs were and worked from there.

Franchisors do listen], but they listen very selectively.

They are listening for how can I get in and start talking about what I can offer.

[But] when you study highly effective sales people, one of the things you find is that highly effective sales people talk about solutions or what they could offer very late in the sales process.  Less effective sales people cannot wait until they can start talking about what they can do.

Franchisors are impatient people.

And often, they will jump in too quickly and start talking about answers.  And the prospect listening to them doesn’t link that answer to their needs.  Because prospects have to start with their needs and move towards what fulfills their needs.   The prospect doesn’t want to start with the franchisor’s products and start to work backwards. 

Too many franchisors say: “We have this Great Thing, Do You Need it?”

And the answer the prospect often gives is: It is a Great Thing, But We don’t Need it”.

 

If you only sell one franchise because of attending this Lunch and Learn, it will be worth it.

Time: Tuesday, May 20th from 11:45 – 2pm

The Tower Club in Tysons Corner VA 

Registration 11:45 – 12:15 – Lunch 12:15 – 12:45 – Round Table 12:45-2:00

Click Here to Pay and Register