How to Build a Market Profile for Franchise Lead Generation
Market Profiling in a franchise business is researching specific information about your business area to come up with a comprehensive outline that reveals business opportunities.
Understanding the market profile helps in building a strong foundation to initiate marketing and sales activities.
Building a Market Profile
To build a market profile, it is crucial for you to interact with the local community in an environment free of sales pressures.
Local community events like charity events will help you build a local market profile and determine the products and services that will do well in the market.
Building Customer Profiling
Along with market profiling, if you build an ideal customer profile, then you can tune your marketing to capture quality leads.
Here’s how to build an ideal customer profile.
Tip 1: Collect Existing Customer Data
The entire data about your existing customers need to be compiled, to analyze:
- Revenue sources
- Returns on investment (ROI)
- Referrals
- Customer influence on franchise business
- Communication gaps and more
Tip 2: Segment Your Customers
Use the collected data to segment customers based on demographics, behavior, and culture.
The overlapping information will provide you with ways to improving your customer targeting, based on popular customer preferences.
Tip 3: Identify Ideal Customers
Combining the market data and customer segmentation helps your franchise in identifying your ideal customers and weeding out opportunist customers who are less likely to turn into qualified leads.
Tip 4: Create Ideal Customer Profiles
After all of the exercises mentioned above, you are likely to have a pretty clear image of your ideal customer profiles.
Make sure to target these ideal customer profiles in your marketing campaigns and sales promotions.
Tip 5: Start Franchise Lead Generation Campaigns
Now, your franchise is all set to initiate a targeted lead generation process to attract and capture qualified leads.
You can now start using your marketing plan, content, and channels to effectively generate franchise leads.
For more information on building market and customer profiles for generating high quality franchise leads, Contact Us.