All About the Franchise Sales Index Dashboard

Welcome to our support guide on utilizing the Franchise Sales Index in FranConnect Analytics. This powerful tool is designed to help you seamlessly analyze and track the effectiveness of your lead sources across your entire franchise network. Whether you are looking to optimize your marketing strategies or enhance your sales performance, the Franchise Sales Index provides a comprehensive overview, ensuring that you are equipped to make data-driven decisions. In this article, we'll walk you through the steps to effectively use the Franchise Sales Index, highlight key features, and show you how to interpret the data to foster growth and improve your lead conversion rates.

Topics

Accessing the Franchise Sales Index Dashboard

To access the Franchise Sales Index dashboard, first log into your FranConnect environment. On the left-hand sidebar, click Analytics.

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On the following page, click View on the Franchise Sales Index card.

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You will be taken to the following page:

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You can navigate to the different pages we will cover in this article by using the Table of Contents at the top of the page.

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Next, let's take a look at the Lead Performance page in detail.

Lead Performance Page

The Lead Performance page offers valuable insights into your franchise network's lead conversion efficiency and identifies the most productive sources of leads. This tool helps you understand where your strengths lie in closing leads and directs your focus toward the most effective lead-generating channels. There are four main sections of this page. Let's take a look at each of them.

Lead KPI Cards

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These KPI cards compare the metrics described in each box to the previous year's metrics as tracked in FranConnect. On the top row, you can narrow down your results by sector.

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Let's take a closer look at how each of these cards is calculated:

  • Average Leads by Month: Shows the average number of leads generated per month across all IFA sector(s) in a year
    • Current Period: [(Total Leads) / 12] / (Brand Count Transactions)
    • Previous Period: [(Previous Year Month Total Leads Transform) / 12] / (Brand Count Transactions)
    • Shows the change between periods in percentage points
  • Average Closed Deals by Month: Shows the average number of leads closed per month across all IFA sector(s) in a year
    • Current Period: [(Closed Leads) / (Brand Count Transactions)] / 12
    • Previous Period: [(Closed Leads Previous Period) / (Brand Count Transactions)] / 12
    • Shows the change between periods in percentage points
  • Average Closed Rate by Month: Shows the average percentage of leads that were successfully converted into closed deals per month in a year
    • Current Period: (Average Deals Closed per Month per Brand) / (Previous Year Average # of Leads per Month per Brand)
    • Previous Period: (Previous Year Average Deals Closed per Month per Brand) / (Previous Year Average # of Leads per Month per Brand)
    • Shows the change between periods in percentage points
  • Average Days to Close: Shows the average number of days spent to close a lead in the current year vs. previous year
    • Current Period: (Lead Conversion Days) / (Franchise Awarded Lead Count)
    • Previous Period: (Previous Year Lead Conversion Days) / (Previous Year Franchise Awarded Lead Count)
    • Shows the change between periods in percentage points

Franchise Sales KPI Trends

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This grid shows a list of year-over-year changes for various KPIs across various IFA sectors. You can choose the KPIs displayed on the table using the drop-down list at the top of the card.

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Let's take a look at where the data for this table comes from:

KPI Meaning
Total Leads Shows the total number of leads generated across all IFA sectors.
Avg Leads Shows average of total leads across all IFA sectors. Formula: [Total Leads] / [Active Brands]
Total Leads Previous Period Shows the total number of leads generated across all IFA sectors in the previous period.
Avg Leads Previous Period Shows average of total leads across all IFA sectors in the previous period. Formula: [Total Leads PP] / [Active Brands]
% Change Leads Shows delta of total leads generated between this year and the previous year. Formula: (Total Leads - Total Leads Previous Period) / [Total Leads PP]
Total Closed Deals Shows the total number of leads closed across all IFA sectors.
Close Deals Previous Period Shows the total number of leads closed across all IFA sectors in the previous period.
% Change Closed Deals Shows delta of closed leads between this year and the previous year. Formula: ([Total Close Deals - Close Deals Previous Period] / [Close Deals PP]) x 100
Avg Closed Deals Shows average of closed leads across all IFA sectors. Formula: [Closed Deals] / [Active Brands]
Avg Closed Deals Previous Period Shows average of closed leads across all IFA sectors in the previous period. Formula: [Closed Deals PP] / [Active Brands]
Avg Close Rate (%) Shows the average close rate of leads with respect to total leads generated across all IFA sectors. Formula: ([Closed Deals] / [Total Leads]) x 100
Avg Close Rate (%) Previous Period Shows the average close rates of leads of the previous period with respect to total leads generated across all IFA sectors. Formula: ([Closed Deals PP] / [Total Leads]) x 100
Close Rate Change Shows the change between current avg close rate vs avg close rate previous period. [Avg Conversion Rate(%) All IFA] - [Avg Conversion Rate Previous Period]
Average days to close Shows the average number of days taken to close the leads across all IFA sectors. Formula: [Lead Conversion Days] / [Franchise Awarded Lead Count]

Lead Source Performance

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The Lead Source Performance card provides users with a list of various "Top Tens" to track their best lead sources. The tabs at the top of the card can be used to change the Top Ten category.

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Let's take a closer look at what this chart shows:

  • Top 10 Lead Sources: Shows the total number of leads generated and total number of closed deals for current periods based on the top 10 lead sources
  • Top 10 Internet Sources: Shows the total number of leads generated and total number of closed deals for current periods based on the top 10 internet lead sources
  • Top 10 Brokers: Shows the total number of leads generated and total number of closed deals for current periods based on the top 10 brokers.
  • Average Days to Close: Shows the fewest average number of days taken to close leads and the largest average number of days taken to close leads by source.

Total Leads by Lead Killed Reason

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This bar graph shows you all of the leads in your FranConnect system that were killed sorted from most common reason to least common reason.

Lead Engagement Page

The Lead Engagement Page is made up of four cards that give you insight into the responsiveness of your leads by IFA sector.

Lead Distribution

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The Lead Distribution card shows you distributions of "time to first contact" on all leads by the color-coded time frames. The pie chart shows the total distribution across your franchise network while the bar graphs show the total distribution across different sectors.

Deals Closed

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The Deals Closed card shows you distributions of "time to first contact" on closed leads by the color-coded time frames. The pie chart shows the total distribution across your franchise network while the bar graphs show the total distribution across different sectors.

Close Rates

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The Close Rates card shows you the conversion rate and how "time to first contact" affects your conversion rate. The time to first contact is determined by the color codes denoted on the right-hand side of the card. The pie chart shows the total distribution across your franchise network while the bar graphs show the total distribution across different sectors.

No Follow-Up

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The No Follow-Up card shows you the percentage of leads where no follow-up occurred per IFA sector.

System Growth Page

The System Growth Page offers you three different sections with metrics that help you track the growth of your franchise network.

System Growth KPI Cards

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The System Growth KPI cards show you the basic information about your franchise network's growth in a time period determined by your filters. Let's take a closer look at what each card shows us.

  • New Locations Opened: Shows the total number of locations opened in the current period vs. the total number of locations opened in the previous period
    • Shows the change between periods in percentage points
  • Locations Transferred: Shows the total number of locations transferred in the current period vs. the total number of locations transferred in the previous period
    • Shows the change between periods in percentage points
  • Locations Terminated: Shows the total number of locations terminated in the current period vs. the total number of locations terminated in the previous period
    • Shows the change between periods in percentage points

System Growth KPI Graphs

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The System Growth KPI graphs are broken up into three tabs that can be seen at the top of the card.

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Let's take a closer look at what each of these tabs shows us:

  • New Locations Opened:
    • The bar graph shows the total number of locations opened in the current period across all IFA sector(s)
    • The pie chart shows the percentage of locations opened in the current period across your franchise network per sector
  • Locations Transferred:
    • The bar graph shows the total number of locations transferred in the current period across all IFA sector(s)
    • The pie chart shows the percentage of locations transferred in the current period across your franchise network by sector
  • Locations Terminated:
    • The bar graph shows the total number of locations terminated in the current period across all IFA sector(s)
    • The pie chart shows the percentage of locations terminated in the current period across your franchise network by sector

Net Growth

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This bar graph shows the percentage of locations terminated and transferred with respect to active locations opening in the current period. This is broken down by IFA sector.

Conclusion

The Franchise Sales Index in FranConnect Analytics is a powerful tool for optimizing your franchise's lead generation and conversion. By using insights from the Lead Performance, Lead Engagement, and System Growth pages, you can make better decisions to boost marketing and sales efforts. To learn more about how you can leverage FranConnect Analytics to help your franchise network grow, please check out our Analytics support articles section.

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