FranFunnel and Stats, A Memoir

Nowadays, you can hardly do a business call without the word “data” coming up at some point. But that being said, it seems that people aren't willing to actually dive into the numbers that they allegedly crave so much. FranFunnel prospects are asking all of the right questions but are ignoring the statistical evidence provided in favor of their own intuition.

Franchise folks, I know technology is scary. 

But do you know what’s scarier? Letting your dream of being in every state in the country slip away because you’re too afraid to be on the cutting edge. We are all conditioned from a very young age that bravery and confidence is always rewarded; why should applying this to franchise technology like FranFunnel be any different?

Since FranFunnel’s inception in January 2017, we have gathered all sorts of statistics on why our technology is powerful. And I find it's quite time for me to share them all with you in one place.

Let’s start out with an easy one! If you had to put them in order from most to least, how often did you do the following in your personal life: send an email, make a cell phone call, make a home phone call or send a text? Based on Gallup’s data: Text Message (39%), Cell Phone Call (38%), Email (37%), Home Phone Call (9%). This means, more than ever, that it is always important to use as many different communication channels as possible when speaking to your franchise leads. You never know who you’re missing out on if you don’t!

How many people ACTUALLY put in their mobile number into a lead form so that FranFunnel can text them? Based on our data, 3 out of 4 people do! Home phone usage is consistently decreasing year over year and unless the candidate is part of a large multi-unit franchisee company, then it probably isn’t the wisest for them to be entering in their office line either (unless they’re looking to get fired!) While we try to text every phone number in our system, it’s safe to say that the vast majority of a FranFunnel user’s leads will receive your message.

Which brings me to one of my favorite numbers: what percentage of people prefer receiving a text message vs. an email? Based on our tests, 90% texting and 10% phone call is your answer. And to make matters worse for those who preferred a phone call, only 13% of them actually answered the phone when contacted! This, of course, is very alarming for the franchise space. Many of our industry’s greatest brands were built on the foundation of cold calling. But as the data shows, those days are clearly over. Text message is a short-form communication channel and can be answered under the table at a meeting, sitting a lunch table with a friend or at home on your couch. Why give up on the chance to give yourselves more hours in the day to be top of mind for your prospects?

In order to be top of mind for your prospects, you need to be available when they’re available. To do that, you need to know what time frame most of your leads go in and when they’re most likely to respond. As we all know, franchise development is hard. For every 10 brands that sell 50 units a year, there are 500 who can barely sell 5. A helpful hint for those struggling: your efforts don’t end after the clock strikes 5pm! 62% of franchise leads come in after official business hours (i.e. the weekend, before 9am and after 5pm). As you might imagine, when the people are inquiring most is when they’re most likely to respond, too! 6pm-11pm is the sweet spot, making a system that allows you to personally and automatically reach out to those leads (when you can’t) all the more important.

Speaking of automation, why is that aspect so important? Because 70% of leads respond within the first hour, of course. To drill down even further: 19% respond in the first minute, 50% response in the five minutes! When taking into account that only 23% of franchisors text leads and only 14% text within the first 24 hours, I think you can understand why some of our current clients (and maybe you after reading this) may feel like they were leaving money on the table before using FranFunnel.

One thing we can all agree on: franchising has evolved in a way that none of us could have foreseen. Gone are the days of using one form of communication and the luxuries of just speaking to leads during business hours. In order to be the “superhero” brand that emerges out of the proverbial rubble, any way to get a leg up is important. But instead of using your intuition, use the statistics given to you above to make your sales process bulletproof. We’re 100% sure you’ll be thanking us later!

Zack Fishman leads FranFunnel's sales efforts. You can reach him at Zack@FranFunnel.com.

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