How a National Licensee Model Business is Driving New Ownership Opportunities
Symposia worked with a licensee model business to generate qualified leads for potential store owners through strategic digital marketing strategies.
WHAT WE DID
Market research report
User experience strategy
Budgets and constraints
Sales Funnel Optimization
Platform determination (Facebook)
Web content creation (Graphics, copy, video, etc.)
Our client saw the opportunity to scale up their licensing model business to acquire new store owners across North America. Their unique licensee business model, empowers its independent owners to enjoy work flexibility and to be their own boss and does not charge any royalty or franchise fees. They needed an approach that defined and optimized their sales funnel, generate a high volume of qualified leads, website optimization, and automation to keep connect with leads.
Symposia realized that the client needed a defined conversion funnel to implement strategies to attract new leads and move them down the funnel.
Top of the Funnel
To get leads into the funnel Symposia created targeted PPC (pay-per-click) advertising campaigns to bring awareness of the opportunity to leads. The campaign utilized ads that were targeted to users using a combination of lookalike audiences based on email lead lists, website leads, as well as custom interests that include business opportunity, franchising, and entrepreneurship.
Users were then sent to an intentionally designed landing page that provided compelling information with video, text, and custom graphics, with the goal of having users fill out a customized form to pre-qualify them as a lead.
Those who did not fill out the form were shown retargeting ads to get the users to come back to the ownership landing page with strategic messaging to get them to provide their information driving them down the conversion funnel.
Middle of the Funnel
Data from that traffic was used to push email automations with strategic content to compel the users to continue their journey in the conversion funnel.
An introductory phone call with the Chief Development Officer occured to help qualify the overall potential of candidates who received the investor packet materials. During the qualification process, leads were sent further down the funnel or branch off into a more targeted email sequence for lead nurturing if their situation changed at any point and were able to meet the requirements for opening their own store.
Leads who continued moving down the funnel were sent a form to capture more information and a snail mail kit. Those who filled out the form moved to the next step in the funnel.
Bottom of the Funnel
Users who filled out the form were put into their portal. From there, the user followed a sequence of steps before becoming a local owner.
Understanding getting the final conversion of having the lead open their store is a long journey, lead nurturing strategies such as email automations, snail mail campaigns and workflows for follow-up calls were implemented to keep the client in front of the lead in order to prevent dropoff.
Through strategic targeting and messaging, an optimized conversion funnel, the power of automation, and more, our client saw an increase in qualified leads for store owners.
- From February 2019 through October 2019, a total of 749 leads came through the funnel, and a large number of them were generated directly from the social media advertising campaigns.
- 462 of those leads were high-quality leads, making their lead quality percentage 61.7 percent.
- Lead quality grew over the course of the campaign. In Q1, the average lead quality percentage was 55.86, growing to 69.12 by the end of the campaign in Q3. The average cost per lead was $107.80 while the lowest cost came in at $45.96. With the number of qualified leads, and licensees requiring up-front costs of $75,000, the cost of acquisition proved worthwhile.
Our client’s Director of Business Development had to play catch-up with the qualified leads, as the number was much larger than anticipated – a great problem to have.