Software for franchise management is very crucial to bring about success to the efforts put in for selecting franchisees. The software comes up with a systematic way of developing a franchise brand since it’s in charge of managing different aspects as far as franchisee engagement is concerned. Besides, the software equally aids in carrying out several key business operations.
Software for franchise management needs to be brought into being by including the following seven features that guarantee overarching, efficient franchise operations.
Automatically steered workflows have ample significance in franchise management. This is because automated workflows can direct necessary processes in the right direction. Even required activities can be specifically ascertained with more clarity. Each of the steps relevant to any activity can be carefully examined to bring about improved lead conversion.
Automated workflows comprising software for franchise management help motorize low-value, repetitive tasks to give rise to maximal efficiency. This helps apportion more time to the sales team to concentrate on relatively high-value endeavors. The software allows mapping a process and sets triggers to keep a record of and send correspondence because of which regular measurement of performance is plausible.
The two vital components of a typical franchise namely management and marketing converge at campaigns. With a view to efficiently moving leads across the different stages of the sales cycle, the creation of email marketing campaigns is imperative in franchise management. The activity consists of the following doable.
- Fabricate automatic email responses
- Use personalized links
- Create trigger-based email delivery schedules
Software for franchise management also puts forward the selection and availability of text campaigns. For each prospect or lead, the email campaign records are stored in the communication history. Although building campaigns and putting them into action can make one have the shakes, they’re cost-effective and time-saving in the long run.
Status tracking of leads
A lead management feature is an integral part of the software for franchise management. The feature helps in explicitly keeping a watch on the statuses of leads as well as the activities laid out by the corresponding statuses.
Franchisors, in general, need the following statuses concerning leads.
- The state of engagement of a candidate as a new lead with the sales team
- The precise stage of the sales cycle in which the candidate is qualified
- The signing of an agreement by the candidate
- The degree of responsiveness of a qualified candidate
- Other statuses that offer support to effect specific sales
By keeping track of these statuses it’s advantageous to obtain solid ideas in connection with the candidates and their movement through the cyclical sales funnel. The software also allows revision of the status tracking of the leads as and when required.
Franchise software is capable to categorize leads into various segments based on certain common characteristics by means of an innovative feature called “smart groups”. It’s known to increase efficiency and connect with multiple leads simultaneously. The function of the smart groups feature is also to identify and tag nonresponsive leads that may come of use in the future.
Source tracking of leads
The tracking of the sources of leads plays a vital role in determining marketing finance. Source tracking feature rendered by software for franchise management is crucial as it aids in comparing leads delivered through various sources.
In other words, it also helps determine the amount of money invested on each lead as cost per lead. In this manner, the financial aspect of your franchise business remains steady. The addition of leads into the record can happen from sources such as franchise brokers or leads portals either automatically or via manual entry. The software necessitates franchise sales reps to give specific information about the source by tagging it while they keep on including the leads into their database.
When it comes to franchise management, the idea of giving awards to a franchise for great achievements must be borne in mind. Thus, the integration of CRM with software for franchise management is essential. The consolidation brings to pass the transfer of information from the area of franchise sales to domains of compliance management.
Software for franchise management has the ability to get incorporated with several other software solutions thereby resulting in optimal utilization of the entire process. The software enables centralized access to data as well as tools acquired from external sources.
Reporting and analytics
Software for franchise management also provides accurate and high-quality reporting and analytics. If truth be told, each of the important features mentioned above is helpful only when its impact is realized. Valuable insights are gathered via reporting and analytics pertaining to the below-mentioned facets.
- Sales funnel
The software for franchise management makes sure the following insights are available in the form of reports.
- Means to attract leads or candidates
- Methods of conversion of potential opportunities
- Ways to identify areas for improvement
- Financial targets
All these reports can be accessed for course correction.