Want to Know more about Franchise Marketing in North Carolina ?
Franchising is a marketing and sales business, it takes a focused effort to build your franchise sales pipeline and establish your franchise network. These tips should help you get started when you first franchise your business:
Build your online presence online. Today’s market for everything is transitioning to online. Amazon and Netflix aren’t the only ones who are transitioning entirely to online business, the entire world has gone online. Find ways to add to your presence and make the investment. Add your franchise and your brand to as many listing sites as you can find, do it professionally and spend the time to get your brand in front of people who are already looking for a business.
Work Social Media. Everyone’s talking so much about social media that I’m sick of it. That is….sick that I didn’t invest in Facebook when everyone else did. Social media is here to stay and it is part of our lives, business, everything. You need someone on your team who is driving traffic, formulating your message and pushing your franchise brand through social media. It is easy to mess this up with corny, ill-prepared social media messages, it needs to be done right or you risk looking like an MLM.
Redo Your Marketing Materials. Trust me, people can tell you built your brochure on a word document with stock images. Just because you PDF’d the presentation doesn’t mean that it looks professional. Put the time and money into a presentation that is well thought out, professionally done and will actually warrant someone calling you back or responding to your email follow up. Everyone is visual today, you need a good graphic designer who can present the franchise the right way.
Be Content Savvy. The web is becoming more competitive for everything, particularly in the franchise space. You need to be a thought leader in your market. If you sell shoes, find something to write about shoes every week, make it engaging, interesting and spend the time coming up with thought provoking ideas that will build your followership. Haven’t you heard the saying, “write about it and they will come”?
Social Media Can Be a Powerful Tool for Local Franchise Marketing
ou know there are "right" customers and "wrong" customers and while you may not (yet) know how to tell them apart before they become your customer, you know that the "wrong" customers deliver the least value and create the majority of problems in your business.
Who is a customer?
Customers (or clients), by the way, are not just the people who buy your products and services. They also include your employees, and if you're a franchisor, they include your franchisees.
Be careful of expert advice!
So I read a passage on a blog that provided "some helpful hints on how you can spot a great franchise marketing system" and the first hint was this:
Customers are brought in the doors. This is what every business boils down to in the end, whether or not the marketing system brings in the customers. After all, that is where you make your profits.
Taking the express train to bankruptcy
And I thought to myself: Or that is where you lose your profits, your money and ultimately your business!
It's not enough to drive customers through the doors of a franchise, or any business. You've got to drive the "right" customers through the doors! Most businesses, and most marketing systems, do not fulfill that objective. And that's one reason why franchises struggle and fail.
So don't be fooled into thinking that a good franchise is one where "the marketing system" drives customers to the door!
Happy franchisees make the most money
To wit: Some years ago the new CEO of a major retail franchisor asked me to help his franchisees attract more customers and ultimately generate higher revenues so that (a) the franchisees would earn (and keep) more money, and (b) the franchisees would pay higher royalties. Since the beginning of franchising, franchisors have known that franchisees who make and keep the most money are the happiest franchisees!
So I spent several weeks working with a few franchisees to find out more about their customers. Here's what we discovered:
- It cost the "average" franchisee $100 to get a new customer to come through the door (that included marketing costs and the required fee for the franchise advertising fund).
- The "average" customer spent about $10.
- No one knew if the customer would return - ever.
- If the customer did return - no one could predict when or how often.
- The "average" franchisee did little to nothing to bring the customer back again repeatedly (and you may be surprised to find out why).
Busy, busy, busy going out of business!
So while it appeared "the marketing system" was doing its job, e.g. the franchisees were busy serving customers throughout the day, in reality "the marketing system" was slowly running the franchisees out of business (and perhaps into an early grave)!
That and the fact that the franchisees were so busy, busy, busy taking care of all the customers "the marketing system" provided that they had no time to do the things that would have insured getting the maximum benefit out of their customers, i.e. increasing sales, increasing frequency, building rapport with key customers, gathering referrals, etc.
Who caused that fire?
As one franchisee told me, "From the time I open the door in the morning until I close it at the end of a long day, I don't have time to do anything but put out fires."
Upon examination, most of the "fires" were caused by customers and employees. Occasionally, even though they didn't know it, the franchisee caused some of the fires!
Blame it on the franchisor, of course
You can be sure the franchisor got blamed for the majority of the challenges the franchisees faced. Frankly, I would take the side of the franchisees on that issue (though it does no good to blame anyone, but rather to accept responsibility). The franchisor could have done a better job sooner! In other words, the CEO that hired me had only recently arrived at the company. To his credit, he quickly assessed "the marketing system" and knew that it was broken. However, this company had been operating for many years prior to hiring this CEO. Where were the marketing folks all those years? Where was the company's leadership?
Why doesn't this system work?
So what was wrong with "the marketing system" at this company?
Simply, it was producing the "wrong" customers for the franchisees!
Even among customers there are stars
Through our continued research we further discovered that not all customers were created equal! Some spent more money than others and never, ever complained or started a "fire"! Of course, those were "the right" customers.
Problem was, "the marketing system" produced too few "right" customers.
Revealing more about "right" customers
Without giving away too much information (and revealing the company), here's more of what we discovered about the "right" retail customers for this franchise business. They:
- spent about twice as much as the average customer
- returned 3 to 4 times a week
- owned a business, which existed within 3.5 miles of the franchise location
- were males (64%) and females (36%)
- had partners in their business (46%); most often, a spouse
- were between the ages of 32 and 62
Franchise Marketing - What Does the Franchisor Do?
Franchise marketing can differ greatly from typical business marketing, as there are many factors to consider and many tactics to implement in every location. Make a single mistake, and the entire brand might suffer as a result. You can use these marketing tips to create a comprehensive franchise marketing strategy that will help grow your franchise as a whole.
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