Doron Straus | Corporate Trainer – Business Alliance, Inc.
When you call a lead, especially an internet-based lead, rest assured that the lead is inundated by any number of other brokers calling. What can you offer to a lead that will set you apart as a broker? What can you say and do that will convince that lead of the value that you will bring to them?
When you are successful in connecting with a lead, you really do not have much time to convince that lead to collaborate with you. There is a balancing act required when you connect with a lead. On the one hand, you want to be convinced that you will want to invest your time with that lead. Are they qualified? On the other hand, the lead wants to make certain that they will want to work with you!
Many brokers in our industry tend to rush the process of referring the lead to a franchisor, without spending time to learn about that lead. By simply spending time with that lead, making it abundantly clear that you want to help them make the right professional choice, you will have a leg up on the other brokers in our industry. However, just by saying you want to help them is not enough, you need to back it up with action. Add value so that they see and appreciate what you are offering so that they will want to work with you.
Let us make a little list of why someone might consider collaborating with you.
- You are the expert. You understand the franchise industry, you have a depth of knowledge about various franchise brands, industries, markets, and industry trends. With this knowledge, you can help them navigate the complex world of franchising.
- You have access to a wide selection of options across many different industries. That allows the broker to explore multiple options that align with the interests, skills, and financial capabilities of their lead, saving time and effort in researching and identifying suitable franchise opportunities.
- You emphasize a personal approach. You will work closely with your lead to understand their goals, preferences, and investment criteria. However, you, as the broker, can add far more value if you also have an understanding of your lead’s skill sets and their beliefs. Make it a point to understand their values (financial? pride? others?). How do they identify with the opportunity? Again, most brokers do not take the time to understand their lead. Know your lead. Know them…not just about them! With this approach you will make your lead feel more comfortable in working with you. Your leads will be emotional, concerned, and anxious in many cases. With an understanding of their beliefs, values, motivations, they will be comforted that you understand them, and they will want to collaborate with you. Again, this will set you apart from most brokers in our industry! Of course, by knowing your lead, you will present franchises that are tailored specifically for them as opposed to throwing franchise brands at them that will simply overwhelm them. The lack of a personal approach typically will result in the “ghosting” of your lead at some point in the process.
- You are clear about the objectives. Most brokers never take the time to state the objective of the call with their lead, whether it is the initial contact or deeper in the process. Set yourself apart by making a point, on every call, to articulate what it is that you plan to discuss. This goes right along with making sure your lead understands the entire investigation process. By doing so, a lead that is anxious, concerned, or fearful, will be more at ease if they fully understand the journey. Greater ease means greater trust and less “ghosting!”
- You can present franchise-specific details to your lead, such as investment criteria, support, and description of the opportunity to help drill down more efficiently.
- Your services are free to your lead. However, it is not enough to just state this. You will need to explain why your services are free. You are paid by the franchisor to bring that qualified and perfectly fitting lead to the franchisor. This understanding will allow your lead to feel a sense of relief and trust since you only get compensated by presenting the right brand to the right person!
- You understand the cultural fit of your lead and franchise system. This is an area that many brokers fail to understand. Just because your lead meets the financial requirements or the franchise offers the type of working conditions that the lead appreciates, it does not mean that your lead will “fit” into the franchise system. Take the time, talk to the franchisor, and find out who they are looking for beyond just the finances.
- You know if your lead is qualified. You will save time for your lead by letting them know if they are qualified for a specific franchise opportunity or not. Does your lead meet the financial requirements, have the business acumen, and is ready to act on an opportunity in a suitable time frame? “Cutting bait” can be a good thing, both for the lead and for the broker! This will save time, resources, and energy for both of you.
- You know about your lead even before you contact them. Take 10 minutes of your time to look up your lead on social media platforms. You may find common ground with that lead which you can leverage to establish a quicker rapport. You may learn something about them professionally that can give you a head start in your franchise exploration journey. Most brokers will never put in this small but important additional effort.
Make certain that you understand the benefits and value that you bring as a franchise broker. Do not underestimate this! Jot down those benefits if needed and internalize them. You are the expert. You want to learn about your lead as deeply as needed so that they will trust you, see value in what you offer, and will want to collaborate with you. If you do this, you will become more efficient, more effective, and generate more closed deals. Furthermore, you will enjoy this business and you will gain a sense of pride and purpose!