6 Tips on Facebook Franchise Lead Generation
Facebook is increasingly becoming an effective tool for generating leads that are specifically interested in your franchise opportunity. Marketing Done Fast works with countless franchise brands in different industries to create ads and then collect leads that are interested in becoming franchisees. Averaging 30 -70 potential franchisee leads per $500 worth of ad spend, Marketing Done Fast presents you with our 6 Facebook Advertising Tips for new and established franchises.
1. Run Facebook Ads in Your Geographical Area.
If your franchise has only 1 location or 25, it is best to target and run Facebook ads in your most prominent region, state or city.
Doing this allows for higher lead flow, more discovery days and ultimately a better closing ratio. Why? you might ask. The answer is simply because your local audience has had more exposure to your brand in some type of capacity. Your local audience will have a deeper connection with your business, versus an audience in another location who hasn’t had the privilege of ever being exposed to your brand.
2. Upload Your Lead List of People who’ve already Shown Interest in your Franchise.
Within Facebook’s advertising and business tools there is an option to upload any contact list you’d like; Facebook will analyze that contact list and give you a much larger, but similar audience to advertise to. For example, we uploaded our lead list comprised of 25,000+ individuals looking to buy franchises over the years and in turn, Facebook provided us an audience of 1,000,000+ population that fit our ideal “Franchise Buyer” demographic.
It doesn’t matter how complex you think your target audience is, Facebook takes every detail into consideration and let’s you advertise to a much larger, but similar audience. Everything is taken into account, such as age, ethnicity, education, profession, income level, buying habits, skills, relationship status and plenty more! Finding Facebook’s “Look alike” feature and uploading your lead list could help you find your ideal franchisee within a short amount of time and even help you save a couple extra advertising dollars in the process.
3. Run Your Ad All Day, Every Day!
People looking for business opportunities may work hard, but rarely work typical business hours, so catching them at the right time with your advertisement is crucial. Run your ad all day and every day to see what is most effective in your area. When running our ads we see a spike in potential franchise buyer leads throughout the weekend, particularly Sunday. For some franchise brands we also see a spike of leads flow through in the early mornings around 4am -7am. Running an ad all the time allows you to allocate more budget on the days/times your ad is most effective in your selected area.
4. List the Investment Amount Upfront
If you find yourself generating tons of Facebook leads that are interested in buying your franchise, listing your franchise’s total investment amount in the ad is a good way to immediately weed out casual shoppers. Showing your audience that your franchise may cost a certain amount allows them to self evaluate and make a decision on whether they’d still like to give you their contact information or leave a “dislike” on what they think would be a ridiculously insane amount to pay for a franchise. This is a wise strategy, but prepare for comments like, “Pshh.. I could open up a business like that for half the amount and not have to worry about selling my soul!”
5. Choose the right ad campaign.
Facebook let’s you create ads, but do you know which ad you should choose that will help generate higher quality franchise buyer leads? Do you want interested individuals to be directed to your franchise website, call you, watch a video or fill out a lead form directly on Facebook? All these different factors become important when deciding on how to develop the most effective advertisement for your franchise. Luckily, Marketing Done Fast has had experience and success in selecting the right ad campaign for franchises and can help guide your decision effortlessly.
6. Increase Your Budget!
If you create and advertisement that is pulling in a good amount of quality franchise leads per month, be aggressive and raise your budget. We believe franchise industry statistics claim you must generate around 100-150 web leads for one of those to convert into a franchise sale.
If your ad generates 40 leads per month, triple your spending or either wait 3-4 months until you weed out that serious franchise buyer. Then, when all ends well, you can invest some of your franchise fee back into Facebook advertising and flood the market with your uniquely exciting franchise opportunity!
Our Goal for Your Marketing Campaign
Our goal here at Marketing Done Fast is to create for you a well oiled Facebook ad that presents your opportunity and drives franchise leads. If you already have an advertisement running or marketing team in place, Marketing Done Fast can be your additional resource in optimizing or creating a Facebook ad to drive results.