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Canada’s franchise industry is approximately 1,300 brands strong and growing, with more than 78,000 franchise units operating across the country. Per the Canadian Franchise Association, Canadian franchises contribute over $100 billion each year to the Canadian economy.
With so many opportunities for potential buyers to pick and choose from, it’s no wonder franchisee recruitment is becoming more competitive. Because of this competition, franchise advertisers are having to constantly adjust their methodology to meet the new demands and catch the attention of potential investors.
Keeping up with the latest trends will help you maintain or create greater success in your franchise prospecting. Let’s take a look at five trends in online lead generation for franchisors.
The Rise of Younger Franchisees
Millennials (those now ranging in age from roughly 25-40) account for about 22% of Canada’s population, becoming the biggest generation in the Canadian workforce back around 2015. This generation of entrepreneurs has faced employment uncertainty for virtually the entirety of their working years, and is increasingly turning to businesses they can run themselves. Franchising matches up perfectly with this desire. These workers are eager and dedicated, so don’t be so quick to rule out the younger franchisee.
Experienced Professionals Still a Solid Source
But don’t forget about more experienced professionals. It’s a segment of prospects that Dan Claps, co-founder of Career Transition Leads and NurtureAssist, believes in wholeheartedly. In his experience, Claps has found that while franchising is suitable for all kinds of demographics and ages, the ideal franchise candidate is 40-60 years old, married, comes from a sales or management background, and is looking to leave corporate life. “This person has managed people and processes and typically has experience leading teams,” he says.
Optimise for Mobile Scrolling
Because of the avid Internet usage across most generations, franchisors should expect that a large portion of their potential investors are looking at franchise advertisements from their phones. As a result, you as a franchisor need to advertise in a way that can maintain attention. A big part of maintaining attention is optimising your advertisements for the mobile screen. If a webpage or an advertisement is not properly optimised for a mobile phone screen, then buyers will become dissatisfied, hit the back button and not submit the lead.
Shorter Application Forms
In their mobile optimisation, franchises are recognising that they need to keep their contact and lead forms on their website as short as possible. The more questions potential franchisees have to answer, the fewer people will complete the form. Keeping lead forms to a minimum expedites the process when many applicants are still in their first stages of researching. Basic information is all that is necessary, such as name, contact details, and where the applicant is interested in starting a franchise. Other questions can be asked once initial contact is made.
Controlling Lead Cost
A shift away from the traditional flat rate marketing model has begun. The change to “pay-per-lead” allows the franchisor to pay only for high quality leads rather than exposure. Much like Google’s pay-per-click advertising, pay-per-lead gives the advertiser more control over how much money they spend and the leads they buy. Franchisors can be confident in the quality of leads they are purchasing. Don’t be surprised to see this model expand more in the coming years.