Franchise PPC Advertising Strategies
Tips To Getting Fran Dev Leads
The franchising space is a unique one. At the end of the day, you are looking for qualified investors. But, did you know that even if you are good at closing franchise leads into new franchisees, it typically takes between 50 to 200 leads to acquire a new franchisee?
So, it is definitely a numbers game. But, driving bad leads doesn’t really help you. What you want is people who are reasonably qualified financially who have interest your vein of advertising.
Having managed over $7,000,000 in ads for franchisors who are looking for new franchisees, we’ve learned a thing or two about what works and what doesn’t.
Also, even within the franchising space, there are dozens of sub-industries to be aware of, such as:
- Restaurant Franchises
- Home Services Franchise
- Education Franchises
- Health Care Franchises
- Pet Franchises
- Fitness Franchises
- Retail Franchises
- Sport Franchises
So, prior to engaging with a Franchise Advertising Agency, make sure you understand what kind of franchises they service and if they service any brands that are competitors or similar to yours.
Start With Google First
Our recommendation is to start with Google Ads and Facebook Ads, at least initially. With time, you can look at expanding into the Bing/Yahoo Network, LinkedIn, YouTube, AdRoll, and other networks. But, start with Google and Facebook.
Keep in mind that Google tends to have a slightly more expensive Cost Per Lead than say, Facebook. But, the lead quality in general is better than the other networks, as people tend to have a higher intent and further along in the purchasing process.
However, with Google, landing pages are extremely important. If you just send your leads to an existing “Franchise Opportunities” section of your site or a franchise mini-site that is really built for SEO, expect anywhere between a $150-$1,000 Cost Per Lead.
This is why as an agency, we always create separate landing pages for our PPC ads, which helps us keep our average all-time Cost Per Lead of around $32. So, if your Cost Per Lead is wildly expensive, your landing pages may be the culprit.
Google Match Types
On Google, be really careful with your keyword syntax. One of the big mistakes we see is people using general broad match for their match types. Don’t do that. It’s a huge mistake that will cause most of your budget to get eaten up by things that are hardly relevant.
This is another area that can really drive up your Cost Per Lead. Take the time to use proper syntax within Google so that you don’t overpay for the wrong types of clicks.
Don’t Use Broad Match
Instead, focus on broad match modifier and exact match terms. For, example, if you are a pizza franchise, your keywords should look something like this:
+pizza +franchise +opportunities[pizza franchise] [pizza franchsie opportunities]
Your keywords should NOT look like this:
pizza franchise opportunities
From there, you want to make sure that your bids are correct. We usually recommend between $4- $12 for your bids. If you bid lower than about $3.00, you probably won’t get many clicks. If you bid over $12, your cost per lead will probably be too high.
Landing Page Conversion Rates
Next comes landing page conversion rates. You’re going to want your landing pages to convert at between about 5-20%. So, 1 out of every 5 to 20 clicks should turn into a lead.
Cost Per Lead
We recommend a target Cost Per Lead on Google of between $20 – $60. Sometimes you can go a bit higher than that, but if you’re over $100, it’s going to be expensive to bring on new franchisees.
In addition to industry terms, you may want to advertise on your brand name plus the word franchise along with competitor terms. Avoid Display Campaigns on Google until you get Facebook ads working for you.
Facebook tends to have cheaper leads. If you can avoid it, don’t use Lead Ads. Instead just use mobile friendly landing pages with a web form above the fold of the web page and no links on the page. Almost all of your clicks are going to come from mobile devices on Facebook and Instagram.
Audience targeting is key for success. Try to target people that have money and are interested not only in franchising but also your specific industry.
Facebook Cost Per Lead
Your target Cost Per Lead on Facebook should be between $5 – $40. Facebook tends to be cheaper than Google. Both networks can give you good leads.
Recommended Initial Budgets
You don’t need huge budgets to start advertising your franchise. We have a lot of brands that spend between $750 – $2,000 / mo. on their ad budgets and perform just fine, even with brand new emerging brands that have jus completed their FDDs.
Have a question or want someone to just do it for you? Feel free to reach out and we can help!
Entrepreneur with a focus on Lead Generation, Google Adwords, Bing Ads, and Conversion.