Franchise Lead Generation Portals Drive Discovery and Consideration, As U.S. Adults Spend Almost An Hour A Day On TikTok
By: Franchise Insights
December 21, 2022 — If U.S. adults are spending almost 46 minutes a day on TikTok, surpassing even YouTube, why not advertise there? Have you experienced it yourself, or watched someone mindlessly scrolling TikTok videos? Meanwhile, Instagram and YouTube are falling all over themselves trying to tap into the demand for TikTok-like viral video content.
This begs the question: How will the next generation of franchisees find you?
A very small percentage (3.6%) of aspiring franchise owners are already “very familiar” with the franchises they inquire about, and another 23.2% are “already somewhat familiar” with them, according to surveys of interested franchise seekers on portal sites in December 2022.
They are not going to franchise portals to be entertained.They come to franchise directory sites to see what’s out there, and for the convenience of comparisons in one place, and ease of connection to franchise representatives.
The same surveys show that 28.6% are “only vaguely familiar” and 44.6% are “completely unfamiliar” with the selections they ultimately inquire about. So the primary function of portal sites is to make an introduction – to generate awareness and consideration of options in a convenient “one stop shop.”
Franchise portals are the “yellow pages” of franchise discovery – no one visits them for mindless entertainment.
When you are looking for information on an unfamiliar subject, you might “Google it.” But what if you don’t know exactly what you are looking for, or what criteria to use to compare the choices, or what options are available in a geography, category or price range? How do you satisfy yourself that you’ve reviewed the best options?
That is the role of franchise directory sites, or portals — they organize and present high-level information about franchises to facilitate discovery and consideration, and make the connection between prospect and franchisor.
Online franchise opportunity directories and their associated mobile apps play an integral role in discovery, awareness and consideration during the franchise buyer research process. This is in addition to the vital role they play in information and comparison shopping. Online franchise portals provide:
- Exposure to the breadth of franchise categories
- Comparison and options within a franchise category of interest
- Reminders of familiar category franchise brand leaders, and
- Introduction and consideration of franchise concepts that may not be familiar.
Almost three quarters – 73.2% – chose to inquire about a franchise brand with which they had very little or no familiarity prior to the portal visit — the concept was introduced to the prospect during the visit.
This very high percentage underscores the unique value of these directory resources in giving introduction and consideration to franchise concepts that may not be on the radar screen of prospects.
Why might the franchise options be unfamiliar? These are among the likely reasons for an unfamiliar brand:
- Emerging franchise that has not yet established brand recognition
- Franchise with regional concentration, or lack of a national footprint to gain exposure
- Established B2B brand that is less familiar with consumers
The “Mystery Shop” survey is conducted monthly by FranchiseInsights.com from a sample of franchise inquirers across the FranchiseVentures lead generation platform. The data presented here is from December 12-19, 2022.
Franchise Ventures is the leading franchise lead-generation platform for potential franchisees to thousands of growing franchise systems in the United States and Canada. Its franchise lead generation brands include Franchise.com, Franchise Solutions, Franchise Gator, Franchise Opportunities, Franchise For Sale, SmallBusinessStartup.com and BusinessBroker.net, and together they provide the largest aggregation of prospective franchise buyers in the U.S.
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Published on Tuesday, December 20th, 2022.