Top 6 franchise marketing strategies
- 1. Social media marketing As a franchisor, you’re managing multiple locations, so customer care should be a major priority. ...
- 2. Content marketing Content marketing involves creating and sharing online material, including blog posts, videos, and social media posts. ...
- 3. Digital public relations ...
- 4. Email marketing ...
- 5. Brand advocacy ...
- 6. Conversion rate optimization ...
- Build Your Online Presence Online.
- Work Social Media.
- Redo Your Marketing Materials.
- Be Content Savvy.
- Understand the Conversion.
- Redo your Franchise Logo.
- Understand How Critical a Franchisee Is.
- Leverage Your Connections.
What is franchising marketing?
Why do franchises need email marketing?
Why do franchisors use social media?
Why shouldn't franchisors use social media alone?
How to reallocate marketing expenses?
What is franchise employee?
What is the right message for an organization?
See 2 more
How do you attract more franchisees?
How to attract potential franchiseesEstablish your brand as an authority. ... Do community marketing. ... Optimize your website. ... Use existing franchisees as advocates. ... Leverage franchise opportunities websites.
Where can I advertise my franchise business?
Ways to Market Your Franchise OnlineSearch Engines. ... Social Media Channels. ... Local Websites and Travel Sites. ... Pay Per Click and Display Campaigns. ... Email Campaigns. ... PR and Influencer Marketing. ... Your Own Websites. ... Remarketing Campaigns.
How do franchisees advertise?
To attract the right target market for your franchise, use these marketing tactics to advertise your franchise. Opinions expressed by Entrepreneur contributors are their own....Advertising. You may think of advertising as print media only. ... Direct mail. ... Sales. ... Promotions. ... Public relations. ... Online marketing.
What type of marketing support is given to franchisees?
Franchisor Support: Marketing and Public Relations (PR) They develop PR campaigns that franchisees can use locally to gain favorable publicity. They may even help their franchisees conduct local “guerilla marketing” campaigns.
How do you get people to buy a franchise?
However, if you follow these simple tips you will be on the right track!Position Your Brand as an Expert in its Domain. ... Make Yourself Appealing to Franchisees. ... Strong Communication with Your Current and Potential Franchisees. ... Use Existing Franchisees as Brand Evangelists. ... Create a Strong Web Presence.More items...•
What is the best type of franchise marketing?
Pay-per-click advertising is an excellent way to promote your brand, but it needs managing carefully. Franchisors can use display and search ads to promote the brand name and offerings. Maintaining and strengthening the brand helps you and your franchisees attract leads and sales.
What is the red flag in franchising?
Red flags would include a high number of franchisee turnover, more outlets closed versus opened, high franchisee turnover coupled with low number of franchisee transfers. A high number of Sold But Not Opened franchises can be a red flag that would require a closer look.
Do franchisors make money?
A franchisor makes money from royalties and fees paid by the franchise owners. A franchise owner makes money through profits received from sales and service transactions. This is generally the left-over amount of money received from revenue after overhead costs are taken out.
What percentage of franchisees are successful?
The Bureau of Labor Statistics reports that about 20% of independent businesses close after two years. In contrast, franchise consulting firm FranNet reports that 92% of franchisees were still going strong after two years.
What are the 4ps of franchising?
Four elements play a role in a customer's decision to buy a product: the product itself, the price of the product, the place and the promotion of the product.
What are the three types of franchisees?
There are three main types of franchise opportunities available, these are: Business format franchises. Product franchises, or Single operator franchises. Manufacturing franchises.
What are the 4 types of franchising?
The four types of franchise business you can invest inJob or operator franchise. These owner operator franchises are usually home based, which keeps overheads down to a minimum. ... Management franchise. ... Retail and fast food franchises. ... Investment franchise.
How do I recruit a new franchise?
Recruiting from within your existing customer base is the best way to find new franchisees; selling the idea of 'getting paid to do what you love' has been a key message for us. By scouting your regular clients, you'll be dealing with people who are passionate about your brand and understand your ways of working.
What are the 4 types of franchising?
The four types of franchise business you can invest inJob or operator franchise. These owner operator franchises are usually home based, which keeps overheads down to a minimum. ... Management franchise. ... Retail and fast food franchises. ... Investment franchise.
What is the most profitable franchise to own in 2022?
Top 14 Most Profitable FranchisesMcDonald's. Units in operation: 39,360. ... Dunkin Donuts. Units in operation: 12,800. ... Taco Bell. Units in operation 12,800. ... Subway Franchise. Offers Financing: Yes. ... Anytime Fitness Franchise. Units in operation: 4,904. ... Sonic. Royalty: 2.5% - 5.0% ... Planet Fitness. Royalty 7.0% ... Orangetheory Fitness.More items...
Which franchise makes the most money in South Africa?
KFCThese are the start-up costs for opening some of the biggest franchises in the country: KFC – from R6 million. Nando's – from R7 million. Debonairs – from R2 million....Top 20 fast food franchises that make the most money in South Africa.BrandSteersRevenue (2017)R1.35 billionGrowth (from 2016)8.9%Franchises (2017)561Revenue per outletR2.4 million19 more columns•Aug 2, 2018
What is Franchise Marketing and How Does it Work?
In this article, we will explain exactly what is franchise marketing, how it works, and how you can apply it to your company.
What is franchising marketing?
Introduction to Franchise Marketing. Franchising is all about consistency, but consistency is a two-way street. While franchisors must create a profitable brand and business model that can be easily replicated, franchisees must help maintain brand reputation in order for it to retain its value.
Why do franchises need email marketing?
For one thing, it means every franchisee’s contact info can live in a single system. Secondly, it allows you to set up sub-accounts—each with its own set of user permissions—and give users as much freedom as you would like, without ever losing your central authority. More control and more efficiency means better results across the board.
Why do franchisors use social media?
One reason franchisors keep all of their marketing budget at the corporate level is that they may not fully trust the franchisees to know how to market their location. It’s can be a fair point as not all franchise investors have a significant marketing background.
Why shouldn't franchisors use social media alone?
But the franchisors can’t and shouldn’t approach social alone for two main reasons: inbound message volume and outbound message relevance. 1. Inbound Message Volume. Due to the amount of inbound volume most brands see, it doesn’t make sense for the franchisor to handle all of the social media messages.
How to reallocate marketing expenses?
Leveraging the owners, managers, and lower-level employees through a structured advocacy program is one way to reallocate marketing expenses that may not be as effective. This benefit has significant appeal not only for the company as a whole but for many franchisees who are trying to cut costs by scaling back their marketing efforts.
What is franchise employee?
Whether they’re part-time, full-time, or salaried, franchise employees are the people most familiar with your company’s products and services. They know all the nitty-gritty details of the business; that knowledge can be an immense advantage to your marketing efforts.
What is the right message for an organization?
The right message, posted by a genuinely enthusiastic employee to the right audience, can be a priceless marketing message for an organization. As great as these simple social media actions are for positive brand messaging, there’s a more direct and strategic way to leverage employee advocacy.
Get Social
One of the newer marketing tools on our list, social media has quickly grown into one of the most impactful ways to market your franchise. Using social media as marketing is one of the easiest ways to attract and engage with customers and future franchisees.
Direct Mail
When someone mentions direct mail, our minds immediately go to postcards and flyers in mailboxes. While the traditional definition of direct mail is still a useful tool to market your franchise, especially when trying to reach a local audience, there are digital alternatives that are just as engaging.
Promote with Public Relations
PR is perhaps the most underused channel in marketing, but it’s an excellent way to market your franchise. It’s all in networking. There are several innovative ways that you can use PR to build brand awareness, including press releases, press kits, and partnering with other local businesses to spread the word about your business.
Dabble in SEO
Search engine optimization, also known as SEO, is a marketing tool that can be used for lead generation. It’s also an effective way to market your franchise and promote brand awareness.
Hundred Acre Consulting
Finding ways to market your franchise can be a challenge, but it’s an excellent opportunity to use your creativity to make your brand stand out above all others. We hope our tips inspire you to think outside the box and brainstorm ways to market your franchise. If you need guidance, Hundred Acre Consulting can help.
What is franchising marketing?
Introduction to Franchise Marketing. Franchising is all about consistency, but consistency is a two-way street. While franchisors must create a profitable brand and business model that can be easily replicated, franchisees must help maintain brand reputation in order for it to retain its value.
Why do franchises need email marketing?
For one thing, it means every franchisee’s contact info can live in a single system. Secondly, it allows you to set up sub-accounts—each with its own set of user permissions—and give users as much freedom as you would like, without ever losing your central authority. More control and more efficiency means better results across the board.
Why do franchisors use social media?
One reason franchisors keep all of their marketing budget at the corporate level is that they may not fully trust the franchisees to know how to market their location. It’s can be a fair point as not all franchise investors have a significant marketing background.
Why shouldn't franchisors use social media alone?
But the franchisors can’t and shouldn’t approach social alone for two main reasons: inbound message volume and outbound message relevance. 1. Inbound Message Volume. Due to the amount of inbound volume most brands see, it doesn’t make sense for the franchisor to handle all of the social media messages.
How to reallocate marketing expenses?
Leveraging the owners, managers, and lower-level employees through a structured advocacy program is one way to reallocate marketing expenses that may not be as effective. This benefit has significant appeal not only for the company as a whole but for many franchisees who are trying to cut costs by scaling back their marketing efforts.
What is franchise employee?
Whether they’re part-time, full-time, or salaried, franchise employees are the people most familiar with your company’s products and services. They know all the nitty-gritty details of the business; that knowledge can be an immense advantage to your marketing efforts.
What is the right message for an organization?
The right message, posted by a genuinely enthusiastic employee to the right audience, can be a priceless marketing message for an organization. As great as these simple social media actions are for positive brand messaging, there’s a more direct and strategic way to leverage employee advocacy.
Advertising
- You may think of advertising as print media only. The truth is, advertising encompasses any media that allows you to purchase space to promote your marketing message. This includes print advertising such as magazines, newspapers and other printed formats, TV advertisements, radio advertisements, billboards, and now, with the onset of technology, internetadvertisements, webs…
Direct Mail
- Most of us think of direct mail as postcards that we receive in our mailbox. This is still an effective option depending on the strength of the message and the offer. With the onset of technology, other direct mail options are e-newsletters, drip email campaigns (a series of email messages sent to a prospect over a short period of time) and other opt-in alternatives that send …
Sales
- An effective sales process is a must for every franchise system. It's imperative for every franchisor to have a systematic, step-by-step discovery process for their prospective franchise buyers to follow. This process should be simple to understand, since the prospective franchisee needs to have the information presented to them in such a way that ...
Promotions
- Traditionally promotions have been used to spark awareness and excitement in a marketing message. You've seen promotions like midnight madness sales, 24-hour sales, sweepstakes, giveaways, special events, customer appreciation dinners -- or any kind of special, out-of-the-ordinary promotion that's utilized by various companies to attract new buyers or existing buyers …
Public Relations
- Public relations may be the most underused pillar of marketing. Traditionally, public relations campaigns would consist of press releases, press kits, sponsorships and other goodwill events and campaigns that would usually bring brand awareness through publicity. In the internet age, we have found that public relations is still a very viable and important pillar that needs attention. Ho…
Online Marketing
- Many franchisors are still pretty new at online marketing -- this gives new franchisors with strong online marketing skills an advantage. Not too many years ago, the "big boys," or well-known franchisors, had the advantage because they had far more money and resources to market their franchise opportunities. Back then, the marketing and media options were very expensive, and t…
Evaluation and Application Process
- Throughout the sales process, there should be a structure that requires the buyer to “Give to Get”. This concept is simple, to continue through the sales process, the buyer must provide feedback and show commitment to the franchise buying process in order to be progressed through the model. This could be as simple as requiring the franchisee to fill out a single application and eva…
Goals / Budget
- Develop a Marketing Plan for your franchise which outlines a franchise sales and marketing program for the first 12 months of the Franchise sales effort. Present industry standards for establishing a budget is $1,000 – $3,000 per unit sold on average, it should be your plan and goal to bring this average down and find ways to more efficiently intro...
Five Good Reasons
- An excellent way to be clear on why anyone should buy our Franchise is to develop a list of three to five good reasons as to why an investor would buy into your Franchise system. These will be your key points as to what the value of your franchise model is and these should be reiterated in all of your Franchise marketing communications. Here are five possible good reasons as a refer…
What to Do with Leads? How to Handle A Franchise Lead
- It is important to remember that anyone can visit your site and request information on a franchise. Just as in the phone-screening process, we will need to determine whether a lead that comes in through the franchise lead generation site is qualified or not. We won’t waste our time on unqualified leads and work through an efficient process to disqualify those who do not fit our sp…