How to Optimize Your Franchise Expo Leads and Generate More Sales!
Exhibiting at a franchise expo is an effective means for businesses to showcase their brands and new products and services, stay up to date on competitors and collaborate with industry peers. However, the main objective of exhibiting at expos & trade shows is to acquire qualified leads that can be converted into franchise sales. Franchisors can significantly increase their chances of achieving this key objective by taking the right steps before, during and after the show.
Now, let’s assume you had secure leads far more than anticipated as a result of your hard work and diligence for three consecutive days and months of preparation. That’s a great thing to start with knowing that your hard works and preparation for the show have pa Lead generation is only the first hurdle in any sale life cycle including franchise sales. The most viable thing to do post trade shows & exhibitions is to follow-up the leads proactively. Here are some Tips to consider regarding post-show follow up that can help you translate your expo leads into franchise sales.
1. Plan ahead of the event:
Before the expo, sit down with your team who are entitled to attend the expo and formulate a well thought-out plan for post-show activities. This ensures that everyone is on the same page and knows what to expect, and what is expected of them upon return.
Hopefully, you have announce, inform and advertise your presence at the Trade Shows beforehand to generate interest and traffic to your targeted audience over internet and print media. Doing this efficiently will give you enough prospective visitors to discuss your franchising opportunities face-to-face during the event.
2. Follow up Leads dilige...
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...there is interest. This means that there are greater chances for individual follow up and at the same time franchisors gets to meet their franchisee. However, if this is not the case, exhibitors can take advantage of online platforms, Skype for instance, to meet with qualified investors after a show. Forbes study reveals that 60 percent of business executives utilize virtual meeting frequently since it spares them time, minimize expenses and provides location flexibility.
At the outset, Today's franchise sales process is much more sophisticated than before. The internet leads generation accounts for more than 70 percent of all franchise leads sources with public relations, print advertising, direct mail and referrals generating much of the remainder. However, trade shows and expos remain as relevant today as they did during their heyday for many franchise business.
Through this video concerning the promotional mix of SXSW, I have learned how each element of the mix works together in order to create effective promotions to drive sales and profits. I actually never heard of SXSW prior to this video, so I have also gained knowledge about it and its marketing strategies. South by Southwest is a yearly display of movies, digital media, and music festivals and conferences that are held in March in Austin, Texas. It started in 1987, and has grown tremendously into a bigger event each and every year. Such an event is a great platform for businesses to gain the exposure that they need to market themselves in this competitive market.
Moore, L 1997, The Flight to Franchising, US News & World Report. June 10, pp. 78-81.
The barriers of entry that could possibly affect the market in which my event planning business operates is brand loyalty and economies of scale.
Through exceptional data asset leveraging in the service sector and aggressive acquisitions of their competition Harrah's Entertainment, Inc has made itself the world's largest provider of branded casino entertainment. Harrah’s CEO Gary Loveman is a former operations professor who has used information technology to create what people consider the most effective marketing organization in the service industry. Harrah’s operates fifty-three casinos, employing more that eighty five thousand workers on five continents. The secret to Harrah’s success is data. Through Harrah’s total reward card program the firm is able to collect information on almost every interaction made at their properties. Even though the program is optional, members enjoy additional benefits that non-members do not receive. This provides an incentive for casino patrons to join and receive the same white glove treatment as Gold, Diamond, and Platinum rewards members reducing the chances they may choose another destination for their gaming and entertainment needs. It also provides the firm with enough information to create a high quality and personalized experience that keeps customers coming back (Gallaugher, 2010).
One of the proudest accomplishments of my professional career was developing an underpenetrated territory for ABC within the New York and New Jersey (NY/NJ) market. I started my career at ABC as a Sales Associate (SA) in January 2010. My primary role was to leverage multiple lead-generation tools (Salesforce.com) to create demand and qualify opportunities for the NY/NJ enterprise sales team. The company’s expectation was for each SA to make 75 calls per day and generate one million dollars of pipeline revenue for the field. With hard work, diligence, and a strong grasp of ABC’s solutions and go-to-market strategies, we were able to over achieve the pipeline revenue target number by 560% therefore creating 5.6 million dollars in pipeline which lead to 1.4 million in booked revenue.
Customers buy when they feel it is necessary giving them the upper hand on the industry. Bargaining power of suppliers: In the quick- service restaurant, the suppliers vary. They really do not rely distributors as large restaurants do. Threat of new substitutes: The restaurant industry is segmented into many parts: full service restaurants ($120 billion); quick- service restaurants ($110 billion); away-from-home managed institutions, examples: food services for schools and hospitals ($21 billion); and other food industries ($106 billion). (Marshall Jones, 1999). Rivalry among competi...
Another strength is Burger King’s franchise development having 90% of its restaurants franchised. The franchise concept allowed the company to grow with minimal capital expenditure and receive royalties and fees. Burger King went above and beyond and created a new model of its restaurant to attract mo...
via promotional stalls and kiosks to create brand awareness and allow customers to first hand taste
Two recommendations for promoting direct-sales through consumer and the business; One is to offer incentives to its customers and second is to motivate the business to promoting its products by advertisements, establishing sales competition for employees, participating in conventions, and by endorsing franchise of its products to retail stores.
Chakravarty, C. (2007). Burger King Likely to Adopt Franchise Model in India. The Economic Times, retrieved from: http://articles.economictimes.indiatimes.com/2007-01- 05/news/28458380_1_burger-king-restaurants-key-franchisees
You have decided on a location, and now it is time to make a list of the people who will be attending. Make a list of everyone you want to attend and do not forget their family members who may come with them. You may want to allow everyone to bring a friend if they are single, or you suspect they will come alone. Fill out your invitations and get them in the mail at least two weeks before your event. Now you are ready to get down to the details of the part...
...rketing plan that will form the basis of all your marketing activities. Today, there are literally dozens of ways you can communicate your
The first tactic is the distribution of business cards. Vendors will utilize the tactic of handing out business cards to patrons and placing them in local businesses for customers to pick up as a method of familiarizing themselves within the community. According to Applieddesigns.com, a company’s sales will increase at least 2.5 percent for every 2,000 cards handed out (Applied Designs, n.d.). The vendor business cards will include detailed information about the type of work their company specializes in and contact information. The business card strategy will assist vendors in having a more recognizable company name throughout Starkville.
World Expos hold as a meeting point for people all over the world, where innovative ideas are shared and improve on issues that are internationally important, such as the global economy, or even an enhanced life for the world’s population. Expo 2020, which will be held in the heart of Dubai, will be one big step towards efficient development. The Expo will be held in the name of ‘Connecting Minds, Creating the Future.’ Their goal is to connect people and innovative ideas, leading the people of the world towards a better tomorrow. The Expo may have a gigantic effect on a country and its people, but it also has some downsides.
The first step in any business is to think of or create a business idea. Without an idea, one cannot launch their business off the ground. A right direction is needed to create a business with a unique idea. However, other options include franchising or buying an existing business (1). Franchising allows an individual to run stores such as Burger King or McDonalds under the corporate name. It involves taking training classes and a heap of money in order to start a franchise. A Franchisee will have to buy products and services from the corporate entity they are franchising from, which is often required. Buying a franchise is like taking a piece of the pie from the company that is franchising and sharing that pie with everybody else. In addition having a franchise allows one to communicate and in essence become a big part of an added business opportunity (4). Franchising is far from easy to start and maintain for that matter. Starting a franchise involves a l...