Data storytelling pioneer Toucan Toco today announced the North American launch of its franchise analytics solution — a powerful data dashboard, already proven in European markets, that gives franchise networks rigorous insights to rapidly boost market share, customer satisfaction, and sales performance.
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Franchises are poised to play a critical role in the region’s economic recovery, with FRANdata predicting that U.S. franchises alone will add 26,000 locations and nearly 800,000 new jobs in 2021, contributing $477 billion to GDP. Toucan’s franchise analytics dashboard gives franchisors broad insights into franchise performance, helping to drive proven network-wide improvements including:
- A 5% increase in market share
- A 7% increase in sales performance
- A 3.5% increase in customer satisfaction
Unlike conventional franchise management software, Toucan offers a fully interactive performance-tracking solution, giving franchisors quick access to conversion rates, sales data, top producers, and other key performance indicators from franchisees. These data insights, centralized and analyzed by Toucan, can then be used to hone KPI management and drive continuous optimization, delivering results for both individual franchisees and the network as a whole.
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For both franchisors and franchisees, that delivers benefits including:
- Optimizing performance. Franchisors traditionally rely on clunky Excel-based reporting files, making it hard to make smart, data-driven decisions. With a centralized data visualization platform, franchisors can understand and improve the performance of their franchise network by comparing KPIs across regions, product lines, etc., and cross-referencing performance metrics to drive continuous improvement.
- Better communication. Leaders at every level, from central HQ to local managers, now have a single platform to track sales activities and access performance insights. With a common language and shared understanding, managers can move faster and make smarter decisions.
- Attracting new franchises. With differentiated, data-driven management processes, it’s easier for new franchises to understand what’s expected, verify compliance, and follow directions from HQ. That means an easier onboarding process, with better communication across the board around KPI and performance.
- Mobile intelligence. Franchises depend on deskless workers, so having a mobile-first dashboarding platform is key. With Toucan, managers can track performance via desktop, mobile, or tablet, and franchisees can access insights on their existing devices.
By leveraging Toucan’s expertise in data storytelling, both franchise networks and franchisees can benefit from targeted data that’s presented using intuitive, easy-to-understand visual tools. That means even non-specialists can make sense of data, ensuring compliance and delivering real results. At a 1,000-location auto dealership franchise, for instance, 80% of network users successfully incorporated Toucan’s solution into their workflows, giving managers increased visibility into sales team performance. “Interactive reporting has revolutionized the way we analyze business within our dealership network,” said one dealership executive.
“Every individual franchise is a rich source of powerful market and performance data — but connecting the dots, and giving both franchisors and franchisees the ability to leverage that data to drive results, has historically been all but impossible,” says Toucan U.S. manager Romain Duboc. “That’s what makes Toucan’s franchise analytics solution a game-changer. Now, for the first time, franchises across North America will be able to share intelligence to turbo-charge network performance, and use proven analytics and data insights to drive success.”
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