Virtual Events – A Viable Lead Gen And Follow-up Strategy in the Times of Coronavirus

Webinar Summary –

In this webinar, panelists discussed the new and innovative ways that franchisors, and exhibition companies that supply to franchise businesses, are dealing with the shift away from in-person events due to COVID-19. The panelists also discussed how lead generation is changing and adapting to the pandemic.

Key Bullets –

• Exhibition companies are pivoting and anticipating how consumers’ habits, tastes and preferences are shifting
• No in-person events until at least Autumn 2020 – they have all been cancelled or postponed
• For franchisors – continue the lead generation pipelines – the sales process takes time and cannot wait until the 4th quarter; need for engagement now
• Virtual events are being offered by many exhibition suppliers – reach out to these to determine your needs and options for virtual events and lead generation

Full Bullets –

• New world and a new way of doing business – pivoting and anticipating how consumers’ habits, tastes, and preferences are changing
• Pre-internet, MFV Expositions was doing about 70 shows a year
  • Exhibitions companies determined that the internet would make the exhibition business go away
  • Rather, the internet is a sophisticated medium that must be used accordingly
• MFV went from 70 shows a year to three shows per year
• Covid-19 has meant that all events are cancelled or postponed until the autumn – although this reopening strategy is uncertain, as well
• Generating leads an engaging prospects in this new environment
  • Virtual events are a way that MFV is doing lead generation
• Sales process takes time, and cannot wait until the fourth quarter
  • Need to engage now
• Millions of new unemployment filings, many jobs will not be coming back soon, and many will need an alternative
  • Franchising will be the answer for many of these people, who are entrepreneurs by happenstance
• Look for ways to generate and engage prospects
  • Virtual events
  • Display opportunity and to respond to requests for information
  • Show videos, live presentations

What should franchisors do to generate leads and interests during Covid-19?

• Maintain an appropriate sensitivity to messaging, tone, and substance given the ongoing public health crisis

What messaging is appropriate?

• Highlighting community engagement and giveback, which in turn boosts your brand’s culture and keeps the brand relevant

What do you do with potential franchisees who want to learn more about your brand?

• Higher levels of engagement, because so many prospects are at home and receptive to the brand’s reaching out

Should franchisors give economic incentives during this time to new owners?

Are franchisors signing on new franchisees now?