Funnel Vision: Is Your Top-of-Funnel Ratio Top of Mind?

By: Art Coley | 3,219 Reads | 3 Shares

Featured in: Franchise Update Magazine: Issue 3, 2023

%3Cp+dir%3D%22ltr%22%3EWhen+I+ask+a+question+about+numbers%2C+it+typically+gets+answered+by+someone+telling+me+how+many+signings+have+been+secured.+Nothing+wrong+with+that.+We+can+only+grow+our+brand+through+unit+signings+with+the+highest-quality+franchisees.%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3EHowever%2C+if+you+are+not+plugged+in+to+what+is+happening+at+the+top+of+the+funnel%2C+measuring+results%2C+and+adjusting+accordingly%2C+you+will+find+your+results+all+over+the+place+and+your+marketing+dollars+wasted.+If+you+want+to+be+able+to+forecast+accurate+results+over+the+next+90+days%2C+that+knowledge+is+necessary.%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3ELet%26rsquo%3Bs+look+at+top-of-the-funnel+ratios+for+the+sales+or+discovery+process.+Open+the+tools+you+use+for+measuring+and+analyzing+new+franchisee+recruitment+data.+Use+your+CRM+or+a+spreadsheet.%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3EBelow%2C+I%26rsquo%3Bve+listed+the+top-of-the-funnel+key+ratios+and+conversion+percentages+development+manager+and+leader+should+be+tracking+and+managing+against.+By+doing+this%2C+you+will+increase+results+and+signings+at+the+bottom+of+the+funnel.%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3E%3Cstrong%3E1%29+Lead+to+scheduled+Step+1.%3C%2Fstrong%3E+How+many+suspects+or+leads+who+reach+out+to+your+brand+are+communicating+with+a+member+of+your+team+and+scheduling+a+45-+to+60-minute+Step+1+call%3F%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3EYour+results%3A+____+%28past+90+days%29%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3ETarget%3A+35%26ndash%3B40%25%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3EIndustry%3A+%26lt%3B10%25%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3ENotes%3A+This+is+for+a+scheduled+Step+1.+Out+of+100+leads+at+the+top+of+the+funnel%2C+35+to+40+should+agree+to+a+date+and+time+to+talk+with+a+recruiter.+If+your+lead+volume+is+dominated+by+broker+candidates%2C+the+conversion+can+be+as+high+as+95%25.%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3E%3Cstrong%3E2%29+Scheduled+to+a+kept+Step+1.%3C%2Fstrong%3E+What+percentage+of+individuals+who+schedule+a+Step+1+are+keeping+that+appointment%3F%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3EYour+results%3A+____+%28past+90+days%29%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3ETarget%3A+75%26ndash%3B80%25%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3EIndustry%3A+%26lt%3B40%25%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3ENotes%3A+A+kept+Step+1+call+is+one+of+the+most+precious+events+in+the+discovery+process.+Most+brands+are+not+paying+enough+attention+to+how+many+leads+are+converting+to+a+kept+Step+1.+Huge+mistake.+Why%3F+Because+this+is+where+the+marketing+part+of+the+process+separates+from+the+sales+part.+Once+a+kept+Step+1+occurs%2C+your+marketing+worked.+Marketing+does+not+get+you+signed+franchise+agreements.+Your+sales+process%2C+starting+with+your+Step+1%2C+is+where+signings+come+from.%3C%2Fp%3E%0D%0A%3Ch3+dir%3D%22ltr%22%3EIn+closing%26hellip%3B%3C%2Fh3%3E%0D%0A%3Cp+dir%3D%22ltr%22%3ELead+generation+is+becoming+more+expensive.+Hitting+your+signing+targets+will+require+better+performance+at+the+top+of+the+funnel.+Find+out+how+your+team+is+performing.+Tracking+the+results+will+create+discussion+and+actions+to+improve.%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3ELet%26rsquo%3Bs+go+to+work%21%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3E%3Cimg+src%3D%22https%3A%2F%2Fimg.franchising.com%2Fart%2Farticles%2F7897_1.jpg%22+alt%3D%22%22+width%3D%225%25%22+hspace%3D%2210%22%3E%3C%2Fp%3E%0D%0A%3Cp+dir%3D%22ltr%22%3E%3Cem%3E%3Cstrong%3EArt+Coley%3C%2Fstrong%3E+is+CEO+of+CGI+Franchise.+Using+the+proven+Recruitment+Operating+System+%28ROS%29%2C+he+and+the+ROS+team+help+franchise+companies+implement+and+execute+a+predictable%2C+repeatable%2C+and+sustainable+franchisee+recruitment+program.+CGI+Franchise+is+based+in+Temple%2C+Texas%2C+and+works+with+brands+worldwide.+Contact+him+at+%3Ca+href%3D%22mailto%3Aacoley%40cgifranchise.com%22+target%3D%22_blank%22+rel%3D%22noopener%22%3Eacoley%40cgifranchise.com%3C%2Fa%3E+or+%3Ca+href%3D%22tel%3A2816589409%22+target%3D%22_blank%22+rel%3D%22noopener%22%3E281-658-9409%3C%2Fa%3E.%3C%2Fem%3E%3C%2Fp%3E

Published: October 30th, 2023