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Perhaps there is no question we are asked more at FranFunnel than “What kind of contact rate is normal?” or “How many more leads will I be able to talk to with FranFunnel?”
Here’s the deal. Each and every situation is unique. Your franchise’s ability to contact leads is going to be based on your brand’s reputation, your lead sources, the copy in your communications, your sender reputation, as well as a whole lot of random variation.
With that being said, there are a lot of different ways that we can show you how our customers are succeeding in their outreach programs.
First of all, let’s take the example of a franchise that sends text messages that read something like this:
Of the the hundreds of texts that this franchise has sent out, they have received a text back from 31% of all their leads. However, that’s not the whole story. When you break that down across all the different sources they have integrated into FranFunnel, you see a large distribution. At the low end, one source has a text back rate as low as 3% while on the high end, it reaches 55%. However, the majority of sources hover around the 31% number.
Additionally, let’s take a look (across all our leads in this case) at how the text back rate varies based on what time of day the lead comes in:
As you can see, you are more likely to hear back via text from leads who submit between 5PM and 11PM ET in relation to leads who come in throughout the rest of the day. This seems to make sense as there are likelier fewer distractions during these hours.
It’s these types of analysis that help paint a fuller picture about how to best improve your franchise’s lead generation efforts. While text back rate should only be used in conjunction with other factors (email reply rate, call answer rate, appointment rate, closing rate, lead price, lead volume, and the list goes on and on…) for a complete analysis, it’s a good start.
Perhaps the most interesting thing we’ve found about texting is the speed at which you can begin a conversation with a lead. We hear all the time that franchise salespeople wish the conversations happened faster. Well, it seems that texting is the king of this.
Here’s a look at the first response delays from every single lead we’ve ever seen. For each lead that does respond via text, how long does it take to receive that response?
Wow! 50% of the leads who text you back do it within 5 minutes! Almost 70%text you back within an hour. In a field where getting conversations started is paramount, texting offers the ability to get it done quickly.
While there is some diversity across texting strategies from brand to brand, it pales in comparison to the differences in e-mail strategy. To say that every franchise has its own email strategy is an understatement. With that being said, let’s take as an example a franchise that immediately after lead submission sends an email like this:
This email produced an open rate of 44%. That’s not too shabby, but the real impressive results came from the clicks. Of the 44% of people who opened the email, 65% of them clicked the email. That translates to a shockingly high 28% of leads who were sent the email clicking the email.
FranFunnel is the world’s first software platform uniquely designed to help franchises communicate with leads more efficiently and effectively. We focus on taking leads, wherever you may generate them, and getting the most out of them.
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(This article is part of our series commemorating FranFunnel’s 100th day. Make sure you also checkout our report on the leads and lessons learned.)
