Franchising is an attractive way to grow a business and still maintain control. But what happens when your franchisees don't want to stay in touch with you? What if they aren't honest about their sales numbers, or they're not answering your phone calls? It would help if you had a solution that could keep track of all the details.
The best option for most franchisors is software with CRM capabilities which will help you keep track of all aspects of your business. In this blog post, we'll discuss ten benefits of having your franchise management software and CRM system work together!
Understanding Customer Relationship Management (CRM)
CRM stands for customer relationship management, and it's the use of software to maintain a central database for all your contacts. It can include personal information and business data like sales history, quotes given or received, contacts notes, etc.
Exceptional customer service is the key to growing your franchise. CRM systems are designed to help you build relationships with customers that have long-term value instead of just one-time interactions.
How does CRM work?
CRM software is usually accessed through an online portal so your entire team can have access to customer information. The system is tailored specifically for your business but always designed with these three components in mind:
- Contacts Database - This is where you'll keep all relevant contact information about current and potential customers, including personal info like birthdays or anniversaries, along with any notes that are relevant to them or their interactions with you.
- Business Database - A business database is where you'll track sales history, quotes given or received (and also when they were sent), and any interactions with other franchisees of the same brand. This part will be necessary if several of your locations have similar products because it can help identify trends based on site.
- Sales Pipeline - CRM software helps you prioritize leads by tracking how much potential each customer or franchise prospect has to turn into revenue at some point down the road. In this way, you can get rid of prospects who are just wasting your time and focus on the ones that will turn into money in the future.
Now that we've laid out the basics of CRM systems let's look at the benefits you'll get from using one with your franchise management software.
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1. Having a CRM System and Franchise Management Software in One Will Save Time and Money
An efficient franchise management system will help you organize all aspects of your business. You won't have to spend time or money tracking down individual franchisees for answers, and they'll be able to get the information that they need instantly by logging into their CRM.
By streamlining communication between each other, you can avoid duplication of effort because everyone will already know what's going on if their questions are answered in real-time instead of through phone calls or email chains.
This also means fewer missed opportunities since no one will ever miss out on a deal because their contact details were outdated!
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2. This Will Help With Your Franchise Sales Process
Managing your franchise business leads will be easier than ever because you'll have access to all the information that your leads give about themselves and their businesses. This means less time wasted on unqualified leads and more opportunities for franchise sales!
This can add up to a lot of time saved, and it means you'll always be able to have the correct information on hand whenever there's an opportunity.
You'll also be able to monitor the health of every deal you make because all franchise sales will show up in one place instead of having to rely on emails or phone conversations for updates about which leads are still hot, which ones have stalled out, etc.
3. All of Your Franchisees Will be Able to Use This CRM Software For Their Businesses
Your franchisees can have their own CRM, but you’ll still have permission control and visibility over each franchise. This means they'll always have access to relevant information to their businesses and will never miss a lead because it doesn't fall within their particular market!
This also means that you don't need a separate system for each location. You won't have to worry about getting everyone on board with one new platform, and you’ll be able to share workflows, email templates, and more with them.
Suppose any changes are made at headquarters, like when sales goals or marketing plans change. In that case, these updates will automatically go out through the same portal which is available online, so there won't ever be downtime due to maintenance issues either.
Pro Tip: The Power of Using Franchise Management Software with Sales and Marketing Automation
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4. You Will Have Real-Time Visibility Over All of Your Franchises
One of the best benefits of a CRM is that it helps you stay on top of your game. This means no more wondering whether or not franchisees are following through with their end of the deal!
You can also track every important detail about each lead, like how many times they've been contacted and if they are being followed up with promptly. If you’re a service-based franchise, you can see the quotes sent out, projected sales numbers per franchise, or based on region.
5. Streamline Communication With Franchisees
Let's face it, in the franchise world; nothing beats good communication between everyone involved. However, it can be challenging to keep up with all of your franchisees' needs on an individual basis because they're spread out over multiple locations and time zones!
A CRM will help you streamline this process by having one central location where franchisees can access information about their accounts and where they can also leave feedback. This means that you'll know whether or not franchisees feel like they're getting the attention and support they deserve, which will make it easier to solve any problems before things get out of hand!
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6. Manage Your Franchise Onboarding Processes and Automate Routine Tasks
Your CRM will help you manage your franchise onboarding processes. You can automate all of the most tedious tasks that come with new franchisees, like sending out welcome packets and getting them signed up for marketing campaigns, etc., so they'll be more likely to hit their goals from day one!
You'll also have access to everything needed to manage your franchisee training, giving them access to an online operations manual, new store buildout, tracking if they have got business insurance, and much more.
These processes will become streamlined because everything that needs to happen for a new partner or location can go through the CRM without any extra work on your end!
7. Tracks and Reports on The Performance of Each Individual Franchisee
Franchise management software keeps track of every franchisee's performance, so you always know whether or not they're following through on their end. In addition to seeing details about each lead, franchisees can also check in with the CRM if any issues or opportunities come up where they need help from HQ!
Doing all of these things will make running your franchise business more accessible, more streamlined, and provide real-time visibility into everything going on. You can even get extra help from the CRM if you need guidance about handling issues or problems!
8. Increase Business Growth Through Automation and Optimization
Automation plays a massive role in franchise management software. You can manage marketing campaigns so that none of your leads fall through the cracks! Having efficient systems in place for lead management can make a world of difference. Here at Pulse, we even have specific lead management workflows built for franchise systems.
You’ll be able to automate your sales processes, both for headquarters and each of your franchisees.
9. Allows Franchisees to Access Their Data and Update it Themselves
A CRM makes it easy for all of your franchisees to access their data and update it themselves. As a result, you'll never have to worry about your franchisees not having the right tools to run their business successfully.
A franchise management software solution is excellent for managing agreements and other shared documents between you and your franchisees. Your franchisees will have access to everything through their portal.
This will increase overall productivity, save time on both ends, and ensure that all of your franchisees have access to the most up-to-date information.
10. Provides a Centralized System of Record That Stores All Your Data in One Place
A CRM provides a centralized system of record that stores all your data in one place. This way, you'll always have access to everything needed to make essential business decisions and grow your franchise business!
Your CRM will be the go-to destination for any information about new leads or accounts. It is constantly updated with every interaction with your franchise leads, current franchisees, or the communication your franchisees have with their leads and clients.
The combination of StealthSeminar and Pulse will help you generate more sales from your webinars with less effort! You'll also get access to all other great features, such as CRM, email marketing, and much more.
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Conclusion
If you're a franchisor, you know how much time, money, and energy it takes to provide your franchisees with the tools they need to be successful.
As a franchisor, being able to support multiple franchise holders is priceless. You'll have peace of mind knowing that your retail or service business is always running efficiently and that your franchisees are getting the support they need to increase sales, cut costs, grow profits, etc.
There are many things that franchise management software can do for your business, and we've just highlighted some of the most important ones. So reach out today to schedule a demo and see for yourself how a franchise software with a CRM can help your business grow!
