Which business partners are best to reach on LinkedIn versus Facebook?
More franchisors have asked me about using Social Media for franchise development in the past 6 weeks than in the previous 6 years.
At recent events including FranTech, Franchise Leadership and Development Conference, The Chicago Women’s Franchise Network, and Springboard, my conversations have focused on using Facebook for not only generating new leads from your consumer customer base, but also engaging with candidates further down your franchise development sales funnel using Facebook’s Custom Audience Targeting.
And often, the next question has been: “But what about LinkedIn?”
Franchisors at these events ask about improving their results in finding candidates on LinkedIn. Many tried LinkedIn early in their online marketing journey but got bad results and quickly moved on.
I suggest that LinkedIn may not be appropriate for engaging with some types of potential franchisees, just as Facebook or other channels may not work for other types of prospects.
Recommendation #1: Before jumping into any social media marketing for franchise development, look at who your candidates are and where they spend their time on social media.
The Facebook Side
If your best franchise candidates are those folks who will be operating their own store or other franchise location day-to-day, Facebook is the best place to engage. They may be customers of a current franchisee who could visualize themselves running their own shop. They have an interest – and hopefully a passion – for your brand’s type of service, work, food, or culture!
At our FLDC panel discussion, Wild Birds Unlimited exemplified this type of brand. Chief Development Officer Paul Pickett shared how individuals on Facebook can engage with a brand that shares their passion and then picture themselves as owning their own store. I would add that being a great storyteller and sharing appealing images and videos is key in developing these relationships! Facebook is the most important place to spend your development time as this is where such future owners are already spending their time.
The LinkedIn Side
If your best franchise candidates are looking for an investment or for their next franchise award, let’s look at LinkedIn. Those candidates are in “the business of business” and invest in a franchise based only on return. LinkedIn is an excellent place to share information about your franchise’s value.
On the same FLDC panel, LinkedIn success was represented by ZIPS Franchising. ZIPS Vice President Aaron Goldberg does a fantastic job communicating on LinkedIn with potential business partners who are multi-unit owners investing in franchises.
At my FranTech Roundtable on Social Media in October, many Franchisors shared with me that they burn through their LinkedIn ad budgets quickly. Unlike Facebook where your boosted posts are easy for the right prospects to consume, LinkedIn puts you in a very competitive position to get a franchise development ad viewed.
Recommendation #2: I’m currently recommending not initially buying ads on LinkedIn. Instead, use LinkedIn as the one-to-one communication tool that Twitter was meant to be. There’s no advertising cost to engage with a person as another person!
LinkedIn may not be a great place to generate a completely new lead, but it is the best place to communicate with potential business partners with whom you’re already engaged.
Recommendation #3: Use LinkedIn for franchise development via your personal profile, not your company LinkedIn page. People buy from people. The goldmine of LinkedIn for any brand is in its use by company representatives as individuals. Sure, your company page needs to be updated and appealing. But the heavy lifting needs to be done from you as a business leader.
Recommendation #4: Use these tactics every day to get to the next level with your franchise prospects on LinkedIn:
*Share relevant business articles and blog posts that would be of interest to your candidates.
*Reach out to them via LinkedIn messages and InMails. Both have a significantly higher response rate than emails.
And remember the most important thing when promoting a business to prospective buyers on social media: even when you’re not engaging with them, they’re watching you!
Jack Monson is the Director of Digital Strategy at Qiigo and can be reached via Jack@Qiigo.com