A Reliable Source of Lead Referrals to Your Franchise Development Website
By: Michael Alston for Franchise Insights
September 27, 2023 — When evaluating franchise directory websites (portals), cost per lead is often a key decision factor, assuming quality standards are met. But leads submitted at franchise portals also result in substantial referral visits to franchisor websites, in addition to being a significant source of leads submitted at development websites, as we most recently reviewed in June 2023.
Summary: Franchise portals offer additional ROI through referred visits to your franchise development website, in addition to the leads they provide.
After aspiring business owners submit inquiries at a franchise portal, very few end their searches there. Most prospects who are exposed to your brand and request information about it go on to continue their research while awaiting response from a franchise representative.
Consistent with our earlier looks at the referral value of portals, data from June through August 2023 show that two thirds of them went on to visit your franchise website. Almost a third of those who visited (31.2% of visitors, or 21% of total submitters) also fill out the lead form on your franchise website right after having requested information via the franchise portal.
“Referral value” or “pass-along value” are terms used to describe this value, which is in addition to the traditional “conversion” value of a franchise lead. These very interested prospects get attributed to the franchisor website, even though they originated on the portal. This is a good thing, and makes for more informed prospects, though it may lead to grossly underestimating the return on advertising spend at lead generation portals if not taken into consideration.
Almost a third of the referred visitors from the portals also submit an inquiry at the franchisor’s website shortly afterwards.
The “Mystery Shop” survey is conducted monthly by FranchiseInsights.com from a large sample of franchise inquirers across the FranchiseVentures lead generation platform. The data presented here is from June through August 2023.
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, September 12th, 2023.