In the world of franchise development, data-driven decision-making has become a game-changer. I had the privilege of having a conversation with the dynamic duo from Teriyaki Madness: Alison Satriana, Executive Director of Development Marketing, and Patrick Pounders, Executive Director of Franchise Development. Our discussion revolved around the importance of data and analytics in shaping the future growth of Teriyaki Madness’ franchise expansion.
Eight Years of Teriyaki Madness: The Evolution of Reporting
Alison Satriana kicked off the conversation with her impressive eight-year tenure at Teriyaki Madness. She highlighted that the franchise has always valued reporting, but a significant shift occurred in 2019 when they transitioned to the Zoho CRM. This change empowered them to delve deeper into their analytics, moving beyond basic metrics like lead counts and franchisee numbers.
Satriana explained, “With Zoho, we could break down our data in multiple ways, helping us understand the cost per lead and deal for each of our lead generation channels. This insight allows us to optimize our budget efficiently.”
This shift in reporting philosophy enabled Teriyaki Madness to identify the most effective channels for lead generation, making informed decisions on where to allocate their marketing budget.
The Scorecard: Tracking Success Metrics
Alison Satriana also shared another valuable tool in Teriyaki Madness’s arsenal – the scorecard. Teriyaki Madness uses both the scorecard built for them by 919 Marketing and a report built out in Zoho. The 919 scorecard tracks the number of leads by source, the lead progression in the sales pipeline, cost per lead, and cost per deal. The Zoho scorecard breaks down their top five monthly, quarterly, and yearly performance metrics, including leads, conversions, franchisee units, and revenue.
Satriana elaborated, “The scorecard helps us track our progress against predetermined goals. We can quickly assess if we’re on track or need to adjust our strategies.”
Patrick Pounders chimed in, stating that they review the scorecard weekly to gauge their performance. If they find any areas where they fall short, they take immediate action to course-correct.
Data-Driven Decision-Making: Adapting and Growing
The conversation shifted to how Teriyaki Madness uses its reports to make strategic changes. Satriana explained that their reports have evolved over the years from basic to comprehensive, now including historical performance data, lead sources, and sales team performance.
One of the key takeaways was the understanding of the cost associated with acquiring a new franchisee. Satriana pointed out, “While some channels may not yield immediate conversions, like Facebook for brand awareness, we acknowledge their importance in the grand scheme. We maintain a balanced approach to marketing spending.”
Patrick Pounders agreed, emphasizing that it’s vital to strike a balance between lead generation and brand awareness. “Sometimes,” he noted, “it’s okay to spend more on brand awareness, as it indirectly contributes to lead generation.”
Looking Forward: The Data-Driven Future of Teriyaki Madness
As the conversation wrapped up, Tmad team expressed excitement about the future. Teriyaki Madness is committed to utilizing data and analytics to continue driving its expansion plans. Satriana highlighted that they’ve actively sought out strategic partners like 919 Marketing, who share their vision for data-driven growth.
Big thanks to Alison Satriana, and Patrick Pounders for providing a glimpse into how Teriyaki Madness leverages data to make informed decisions. Their data-driven approach not only helps them optimize marketing spend but also fosters continuous improvement and sustainable growth in the competitive world of franchise development. Teriyaki Madness is undoubtedly on the path to franchising success, thanks to their mastery of data-driven decision-making, and the experience of their development team.