Congratulations! You’re the proud new owner of a franchise…now what? If your goals are to build a strong, loyal customer base and grow your business, it can’t be done without consistency and a solid marketing strategy. By getting back to the basics, you’ll be sure to have the foundation needed to drive growth and brand awareness.
Here are some key marketing practices that we recommend for franchisors and franchisees:
Understanding Franchisor/Franchisee Relationships
The franchisor/franchisee business relationship is quite unique and vital to understand. Ultimately, the franchisor is providing a structure for the franchisee to follow, yet it’s up to the franchisee to take responsibility for his or her business growth and success. Because there is a level of autonomy for each franchise location, there are still rules and regulations that need to be followed. This can be contentious when franchisees and franchisors disagree on certain marketing strategies. There is often a lot at stake for all parties involved, but with trust, open communication, proper training and tools and commitment, you’ll be well on your way to building a healthy, long-term franchisor/franchisee relationship.
Consistency is Key
When building a brand identity, it is paramount for your customers to have a consistent experience at every franchise location, but creating a unified experience is not where it ends. The marketing efforts of the franchisor and the franchisee should also be in alignment. By providing franchisees with a book of brand guidelines, this prevents the franchisees from straying too far from the brand’s messaging and overall look.
Although it’s critical to have brand cohesion across the franchise as a whole, that doesn’t mean that there isn’t room for some personalization by the franchisee. You can incorporate personalization by giving franchisees the tools they need to run their businesses on their own, including geo-specific marketing campaigns, direct to customer operations and an easy-to-use CRM system.
The Future is Digital
It’s safe to say that digital marketing is the future, but that doesn’t mean that traditional advertising mediums are out the window. Although there is still a time and place for radio, television and printed media, the shift towards digital marketing is proving to be more significant and yielding more sales and leads than ever before. A great place to start with digital advertising and marketing is to implement SEO and utilize social media, PPC and Google ads.
Analyze and Evaluate
With any marketing campaign, it is essential to ask the question: was it worth it? It’s always a good idea to understand your ROI, which can be calculated by dividing the profit earned on an investment (the cost to bring in a new customer) by the cost of the marketing investment. Once you have this information, it’s easy to assess what is working and what might need improvement for future campaigns.
Hiring Marketing Agency
Having a marketing strategy is one thing but implementing it can be a complex and overwhelming situation for some. If you are looking to get maximum results and take a little off your own plate, then hiring an agency to implement your marketing and advertising strategy may be the way to go. The first benefit of hiring a marketing agency is that an experienced team of professionals will be working to deliver top-notch work with fresh and innovative ideas. You also can count on an agency to deliver efficiency and consistency, have access to the latest technologies and relieve you of some stress. Before selecting an agency, always do your due diligence. Finding the right marketing company will ultimately make your life easier while saving you time and money.