The eternal question in the minds of every current franchisor is how I continued to produce good quality leads for franchise sales in this economy? When it is running into tough, franchisor needs to be creative. The great thing about the franchise's marketing is that it's very targeted and specific. When was the last time you saw an ad for Super Bowl marketing franchisees recently? It's just not possible. The reason is simple, the consumer ads we see every day is expensive because the range and coverage. This is useful for companies to advertise for car insurance when almost everyone who saw the TV ads could be a potential client. It does not occur when an ad for franchisees, the franchisee is the obvious candidate. Demographics have been expected to have been set previously, the areas of interest specified, capital requirements and all other attributes are defined clearly. Thus, the ad is much more focused and generally cheaper.
The different paths that use the franchise to franchise marketing run the first step. The Internet, of course, is the most widely used media, around 74% of all franchise leads these days comes from the web. Print Media can be effective based on the readers and the specificity of the publication. Direct Mailings can work in some cases and Email Marketing Campaigns. Trade shows are the most striking and grand media marketing for lead generation franchise and can also be a great way to market a franchise. When it comes down to it there are many roads ... but how the franchisor know where to spend their advertising budget? How do they determine where they will get the most "bang for their buck"? There are several keys that I have lived with the company when it comes to marketing a franchise, if key issues are clearly and fully defined and addressed, the process of marketing a franchise can be a lot of fun and generate leads. If the key points are ignored or only briefly addressed, franchise marketing process can drive crazy franchisor!
1. Specify Your Buyer. Have you ever heard the phrase, "ready, fire, Aim!" It sounds funny, it's because it doesn't make sense! The first objective of franchise marketing efforts must clearly define the buyers. I don't mean "seller with a desire to succeed." .... I mean, "the woman, aged 28-37, Midwest and southeastern UNITED STATES, a household income between $ 75 k-100 k, work experience with kitchen, married, preferably with children." We want specific, to every last detail. After we really find out who this franchisee, we can more effectively plan our marketing.
2. Set a goal of selling the franchise. Clearly identify the marketing approach. Start first with how much you plan to sell the franchise into the system in the next 6 months and years. Do not plan any further than that, because beyond that point, You will most likely have to repeat this plan based on the circumstances moments later. Once we have the goals set, we could then withdraw from the equation. We usually see about 1,000 qualified leads for every 50-100 meetings with prospective franchisees. From the closing percentage of meetings is usually around 5%. So, if we determine that we would like to open a franchise 5 during the first 12 months rolling out franchise, we need a plan to generate leads for 12 months of the first 1000. The beauty of franchise marketing is that it is very scalable and easier to keep track of the consumer marketing ... we really can say how effective it is!
3. Specify the media advertising. Different buyers can be achieved through different advertising avenues. In some franchises all marketing can be done via the Internet, on the other the marketing should be done through mailers directly to specific candidates ... as a doctor in case of quick care facility. Outline the pros and cons of each media and establish the most effective based on cost. This is where the importance of franchise buyers definitely came through.
4. Set A Budget. The average cost per lead across the Internet is about $ 30, the cost of the average of the tradeshow can be as much as $ 200 when factoring in travel, time, booth set up and other costs. So taking into account several types of average cost of advertising based on where you have determined to be most effective in reaching the target audience. For the thousands of leads you might need $ 10,000 in advertising dollars for the first year to hit 5 franchises for sale.
5. Create Collateral materials. A franchise is a great investment for most franchises, even for many buyers is literally all that they had. The franchise offers will look very professional and really should be buttoned. This means that the brochure should be the best quality, there should be a video sales to present to the buyer what the business requires and help create excitement in the franchise. Pamphlets and leaflets should be merged. All of this is built around creating value in business deals, not products or services that the business offers. The overall theme to be "Mr. or Mrs. Franchisee, you can make a great living doing this, and have fun while you're at it." Franchise buyers fall in love with the concept of franchising because they imagine themselves running a business doing what no franchisor. Collateral materials must be a vehicle that sparked interest in the mind that franchisees.
6. Put together a comprehensive application form. There should be two forms in the end ... that franchisees fill initially to give early information from which the franchisor franchisor can make a decision if they want to follow up with prospects even further. This should be the basic information the franchisor should know up front as soon as possible in the sales process, such as how much capital you have to invest! The second form will go into more detail and will be sent with brochures and information packages. This form should go into history and personal background, so the franchisor can really know who these prospects are and what they are all about.
7. Execution. Franchise marketing is like all advertising and marketing, it is not science, though closer to one of the consumer marketing, still vary greatly in effectiveness and results. Several times, just when things are getting to the point where the franchisor thinks they should give up and call it quits is when they actually have to do some MORE ads! It takes consistency. The buyer of the franchise can be fickle, much time has nothing to do with the offer of a franchise or marketing, but rather with the franchisee's life and circumstances. They come back and look again, we want to be there when the prospect of making a buying decision.
8. Good Follow Up. Great salesmanship has beautiful Franchisor in the sales process. Lead should be followed up immediately after contact. Phone calls are important and there should be a high frequency of calls to contacts made. Franchise sales process is not rocket science, it just takes hard work and good planning.
Monday, June 2, 2014
Franchise Marketing
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