Franchising.com Portal Ranks 1st in Quality Leads
FranConnect report values quality over quantity for lead conversion
October 11, 2019 // Franchising.com // San Jose, California - In the business world, good leads are the holy grail of corporate growth. In franchising, where brands must continually recruit new franchisee prospects, good leads are the lifeblood of system growth. A key differentiator in recruitment success is finding <quality> leads for the sales department to convert.
According to a report earlier this year, the Franchising.com portal, hosted by Franchise Update Media, had a conversion rate of 1.8% in 2018 – more than 2.5 times higher than the second-place portal, BizBuySell (0.7%), and 3 times higher than third-place finisher Entrepreneur (0.6%).
“Franchising.com provided the highest-quality leads in 2018,” noted <The 2019 Franchise Sales Index Report.> The report from FranConnect, a leading provider of franchise management software, was based on aggregated and anonymized data from 554 brands in its customer database.
“The key is to invest in portals that are proven to close at or above your current closing averages,” advised the report.
Franchising.com’s conversion rate was 4.5 times better than the average for all portals (0.4%) in the survey. Nearly 1 in 7 franchise leads (13.2%) come from portals, according to the report.
“I’d rather help franchisors get 100 high-quality leads than deliver 10,000 that never lead to or result in a sale,” said Gary Gardner, Chairman of Franchise Update Media, which hosts Franchising.com’s Franchise Opportunities Guide portal.
“The report is incredibly valuable to franchisors looking to recruit franchisees in the most cost-effective manner, much like our Annual Franchise Development Report,” said Diane Phibbs, EVP and Chief Content Officer at Franchise Update Media. “But it was the section on franchise opportunity portals that stood out to us: we ranked first in ‘Conversion Rate by Portal.’”
While Franchising.com ranked 3rd among the portals that generated the most sales, placing first in lead <quality> indicated that leads from this portal are more valuable because they mean significant savings in time and money for franchise executives and sales teams.
“Franchise brands can be inundated by leads that never pan out, causing sales departments to spin their wheels and waste their time sorting through the clutter before finding qualified prospects to contact,” said Gardner. “The best franchisors are looking for the highest conversion rate from their leads.”
About Franchise Update Media
Franchise Update Media has been a leader in the franchising space for more than 30 years. Founded in 1988, the company produces online franchise opportunity and educational websites, two print magazines, four newsletters, four annual conferences, independent research, and books, all focused on franchising. Targeting franchise audiences online, in print, and in-person, Franchise Update Media delivers a unique combination of educational and lead generation sources to help franchisors, multi-unit franchisees, opportunity seekers, and suppliers achieve their growth objectives.
For more information, visit Franchising.com.
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SOURCE Franchise Update Media