Global Franchise 9.3

return on marketing investments. Lead conversion rates track the efficiency of converting prospects into paying customers, reflecting the effectiveness of sales strategies. And brand awareness metrics, encompassing social media engagement, local marketing reach, and overall visibility, highlight the strength of the franchise's brand presence. Customer retention Measuring customer satisfaction is imperative. Your net promoter score (NPS) gauges customer loyalty by measuring how likely customers are to recommend the brand to others, and customer retention rates track howwell the franchise retains customers over time, serving as a strong indicator of customer satisfaction and brand consistency. Keep a close eye on online reviews and ratings too. These reflect customer perceptions of franchisee performance, directly impacting the franchise’s reputation and ability to attract new customers. Franchisee satisfaction Finally, franchisee satisfaction scores measure how satisfied franchisees are with your training, support, and resources (take note of areas for improvement). A low franchisee turnover rate is an indicator of strength of relationships and system stability. And keeping track of your franchisees’ breakeven time – the time it takes for them to achieve profitability – provides insight into the financial viability and attractiveness of your franchise opportunities. So it’s clear: for long-term growth monitoring and measuring KPIs is crucial in driving franchise success. Many tools and software can help, like dashboards and CRM systems, but you should also set clear benchmarks and goals with your franchisees, providing targeted support where needed. For long-term growth, I encourage you to start tracking or refining your KPI systems and chat to a trusted partner to help you with this. “Tracking KPIs is crucial for identifying where targeted support is needed” 53 GLOBAL-FRANCHISE.COM Ins ight