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This is the fourth in an ongoing series of highlights from the 2019 Annual Franchise Development Report (AFDR). The 2019 AFDR, unveiled at the 20th annual Franchise Leadership & Development Conference, is based on responses from 109 franchisors representing 34,058 units (26,838 franchised and 7,220 company-owned).
Participants in the survey consisted of franchisors that completed an extensive online questionnaire. Responses were aggregated and analyzed to produce a detailed look into the recruitment and development practices, budgets, and strategies of a wide cross-section of franchisors. The data and accompanying commentary and analysis provide the basis of the 2019 AFDR. Ordering information is below. (Conference attendees received a complimentary copy.)
This week: Top sales producers, by category: digital, referrals, brokers, print, other, trade shows, and public relations.
After taking over the lead in 2012 as the top sales producer, digital took a hit in 2017, dropping from a remarkably steady 42 percent to just 31 percent. But for 2018 it rose to nearly half, at 47 percent. Yet, even with the growing reliance on digital, attribution remains uncertain. Where did the prospect who contacted the brand online begin their journey? Did they read a print article? See a television commercial? Hear a radio ad? See a billboard? Use the product or service and liked what they saw? In short, where do they learn about the brand before they fill out the form on your website -- and how do you find out?
While these percentages represent the #1 categories named by respondents as sales producers, "If you look at a weighted score of how franchisors ranked each category, digital comes out on top, with referrals, print, PR, trade shows and brokers all very close in rankings," observed Diane Phibbs, Franchise Update Media's Chief Content Officer. A big difference from previous years is referrals -- still considered the strongest source of high-quality leads -- which rose from about 30 percent in 2016 to 43 percent in 2017, but tumbled to 28 percent in 2018, in line with most previous years. "The good news," said Phibbs, "is that everything's working to some extent."
Next time: A look at the top digital sales producers, by category.
The complete 2019 AFDR, with analysis and benchmarks, is available for $350. For ordering information, go to https://afdr.franchiseupdate.com or email your questions to AFDR@franchiseupdatemedia.com.