Franchise Marketing Agency in North Carolina
From restaurants to gyms, franchise businesses need marketing if they want to generate new leads and win over new clients.Even with national or regional advertising help from the overarching franchise brand, there’s the reality of driving sales at a specific location, all while staying within parameters of franchise rules and trademarks.
How a Franchise Marketing Firm Can Help
This is why franchises typically benefit from the support of a franchise marketing company. A professional franchise marketing company will know how to leverage tools — from Internet marketing to direct mail campaigns — to attract new customers and build business.
While many companies help their franchise locations with marketing, there is always more that can be done. Franchise owners who want to stand out in the industry will take advantage of marketing strategies that build business. Here are some of the reasons why marketing for franchises is so important.
- Increases Local Visibility. In order for potential customers in the area to know about a specific franchise, that franchise has to build local brand awareness. Through marketing, more people find out what a store, service or shop offers.
- Expands Audience. Passivity is a recipe for disaster in any industry, but especially for franchises that think they can rely on national branding to keep growing. In reality, franchise marketing is paramount to staying relevant, gaining new customers and moving forward.
- Differentiates. One of the best ways to distinguish a business from its competition is through marketing that highlights its features, emphasizes its unique value and makes it stand out in the minds of prospects.
Franchise Marketing Systems Implementation
When making your decision as to which franchise will work best for you, it is vital that you explore the trends impacting the investments you are considering. Shifts in consumerism both nationally and regionally can have a heavy impact on the market in general and on your franchisor specifically. No matter how solid you feel your plan for you business may be, if your intended product is falling out of public favor you have little chance of success. If you don't have a clear concept of what trends will impact your business, then you may want to begin your research there.
Once you have developed an overall perspective of the market aspects that most impact your franchise, take a look at the big picture. Investigate how your business, and those similar, have fared in the recent political and economic climate (and in the past). Review back issues of national business journals for articles related to both your specific franchisor and your potential competitors to develop a clear perspective of how the market has fluctuated and why. Dig deep. Consult statistics from census data and the Bureau of Labor Statistics and try to determine which demographic groups have most impacted the market for your product.
Brining it Home
Now that you have at least a general concept of what factors have made the greatest difference in your market, it is time to examine what factors are impacting the local market in your area. It is necessary to determine how those factors that have played a role nationally are represented in the area you intend to do business. If at all possible enlist the aid of a private research firm. This will ensure that the data you base your decision on is factual and up to date. Your franchisor may also be able to assist you in your search, as can your network of franchising peers.
Compare the Competition
Once you have a firm concept of the market and how it will most likely impact your new business, it is time to see if your franchisor has what it takes to overcome the competition in your area. Even if you are the only franchise representing your brand in the area, chances are good that you've got competing brands offering similar products or services in your intended sphere of influence. Compare your franchising organizations growth with that of these competitors and try to gauge whether or not your franchisor's growth plans are sufficient to give you an edge against competitors who already have established presences in your area.
Taking the time to research the viability of your intended franchise in the area you wish to do business is a critical step in the development of your business. Overestimating the marketability of your product of the growth potential of your franchise in your specific location could have disastrous consequences. An ill-informed decision could prevent you from seeing the returns you anticipate on your investment and severely cripple your business goals. It pays to take the time to make a smart and fact-based decision that will allow you to make the wisest financial decision in selecting a winning franchise.