Bots, automation, AI, machine learning – tomorrow’s world is here today and can help you source franchise leads, says Tamara Smith
At this point in the development of technology, everyone has experienced automation or AI in one form or another.
If you’ve used Facebook, Netflix or Spotify, you have experienced automation and machine learning in action. Everything you are recommended is based on your previous decisions.
Automation. Artificial Intelligence. Machine learning. They’re the new ‘buzz words’, but what does it all really mean, and what does it mean for franchising?
To understand where we’re going, we must start with where we began…
Data & Analytics
As we all know, Google has been compiling information since its outset and the strategies have only become more advanced. (This is why their algorithms are a closely-kept secret.)
The data within your Google Analytics account can provide a wealth of information for marketing your franchise brand. Facebook has its own wealth of data as well. The Cambridge Analytica scandal proves just how valuable this information is. As the big players know, AI all begins with data mining.
But, you don’t need to be a big player to leverage your data. It is at your fingertips with every platform you use and can provide a wealth of information or marketing your franchise brand.
Marketing automation
Most franchisors are already implementing marketing automation to some degree.
This could simply be email auto-responders – along with a notification to their team – with the prospect’s information. More advanced strategies include if/then scenarios or other criteria that automatically nurture your leads based on their actions.
The process usually begins with your web forms. Candidates can self-identify and are then put into a unique nurturing funnel, based on their selections. Once the lead is within your funnel, their actions can be used to determine what information to send them and when.
Implementing lead scoring, through tracking your leads through all stages of lead nurturing all the way to the final sale is a best practice. This will provide a great top-level picture of who makes a great candidate and how to work that into your automation.
Advertising
Machine learning can go a long way to help optimize your PPC campaigns. This is why it’s crucial to create a strategy for your advertising in advance, and be committed to long-term results.
Google, Facebook and other platforms will work on their own to optimize for you on pricing, who your ads are delivered to, and more.
When self-optimizing, be sure to make small, incremental changes to judge results, as the programs’ AI is also working for you in the background. Retargeting or remarketing is also highly contingent on captured data from user activity and segmentation based on that activity.
Bots
Here is where we come to the way of the future for franchising. You’ve probably experienced chat bots mainly for customer service or support on websites. These are great tools to answer common questions and gather data.
This type of nurturing is still relatively new enough that many prospects don’t even realize that they’re not actually talking to a human.
As programs are advancing, the possibilities are endless. Bots can be applied for marketing, support, customer service and nurturing, both for franchisees and franchise development. A Facebook Messenger bot is a great example. You serve an ad to potential prospects. Once they’ve shown interest, your bot will immediately reply – without them having to go to another website or open another window.
With franchise development, speed to lead is always crucial. Bots remove the burden on your busy sales team. They are always working, never double booked, and in a great mood.
The sky is the limit for how you can choose to use a bot. It all depends on how much and what type information you wish to share. It is key that you determine your framework prior to setting up bots. It’s much like training new members of your sales team. They will provide whatever information you program in, to respond to candidates.
The path you set out for your candidates to follow is key to determine upfront. You will want to organically guide them to what they want to see, when they want to see it. This will be similar, but unique, for each franchise brand – based on the complexities or their system and the supporting content/assets available.
At the same time as providing valuable nurturing, your bot will also be collecting precious information that can be leveraged later.
Bringing it all together to make sales
There is no question that automation will play a huge part in the franchising world for years to come. Often, the industry can be somewhat slow to adapt to new trends… In a world where speed to lead is critical, being ahead of the curve can make or break a deal.
How you apply this information for your brand is entirely up to you. Applying some or all of the automation available is sure to make a positive impact on your bottom line.
ABOUT THE AUTHOR
Tamara Smith has a wide range of global marketing experience in the fields of investment funds, music, alcoholic beverages, film & television and journalism. She began franchise marketing over a decade ago and has since worked with major international franchise brands, implementing both traditional and non-traditional marketing techniques to drive record-breaking franchise sales. Tamara is currently a partner at Just Franchise Marketing. http://justfranchisemarketing.com/
