One Example of How FranchiseHelp’s Lead Verification System Works
Whenever the topic of third-party lead providers comes up, there is often a very quick jump to the concept of “lead quality.” For every unique source, a buyer looks to analyze the odds that leads from that provider will…
- Answer a phone call or email
- Continue a conversation after the first point of contact
- Disclose their financial information
- Participate in a discovery day
- Ultimately elect to open up a franchise
(These five are only meant to be illustrative, as each franchisor has a different metric that they use to evaluate the quality of their leads.)
Anyway FranchiseHelp, being one of these third party lead providers, has to focus on maximizing the investment that each client makes in us. Therefore, we have to do everything we can to make sure that the contact information we pass on reflects individuals who are serious as possible about learning about opening a franchise.
As we’ve mentioned before, we have a very intense set of protocols and systems designed to accomplish this task. And yesterday, I saw a lead come through that exemplified one great use case for our system.
Here’s how it went down:
- Takes Quiz at 4:00 PM – A lead, we’ll call him John, comes to FranchiseHelp and takes our franchise matching quiz. He lets us know that he’s interested in home-based franchise opportunities under $250,000.
- Selects Franchises and Enters Contact Information at 4:02 PM – When prompted to select franchises, he selects Lady Bug Eco-Friendly Pest Control and ClaimTek Systems. He promptly enters his contact information.
- Receives and Hangs Up on Automated Telephone Call at 4:03 PM – After entering his phone number, our system automatically calls his phone and asks him to confirm his interest in the franchises he selected and to confirm that he has the capital that he claims to have. He hangs up on the call.
- Receives a Text Message at 4:04 PM – Since he did not confirm his request via phone, we sent him a text message that read, “Please confirm your request to speak with the franchises you selected and your possession of the capital required by responding to this txt with the word YES.”
- Responds with “No” at 4:05 PM – For a reason unbeknownst to us, John must not have actually been interested in receiving information and speaking to those franchises. Although we didn’t let him know that “No” would trigger any response in our system, he still elected to take that action.
- Our System Automatically Declines His Requests and We Do NOT Sell Him as a Lead at 4:06 PM – Our backend receives his text request and interprets his “No” as a strong signal that he’s not going to a high quality a lead. Therefore, the system automatically elects to reject his request.
It’s important for us to continually improve our system, as passing through leads like John are not a sustainable way to provide value to our clients. We introduced text message verification some time ago and it's been fascinating to see the results. You can see some more about it here.
Have more questions about how our lead verification system works? Let us answer them for you!
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