Creating A Franchise Marketing Strategy For Your Business.
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Posted On :
Dec-22-2011
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Article Word Count :
1434
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Franchising in India is all set to explode. Conservative industry estimates point to 1500 organized franchise systems in place and that is certainly all set to grow geometrically.
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One of the most important tasks of franchisors is to create and maintain a successful franchise marketing strategy. A well thought off, marketing plan may mean the difference between a prosperous business and bankruptcy. Developing a good marketing plan doesn’t necessarily require a lot of money. You may need some professional advice and guidance especially if you do not have any previous experience in creating full marketing plans, but you can still get most of the work done yourself.
Most franchisors have comprehensive marketing plans in place for the overall franchise. The national plan typically includes advertising campaigns, commercials via television and radio, Internet advertising, public relations, and direct mail efforts. Therefore brand recognition is widely established. Franchisors that do not manage marketing on a national level usually provide an outline for the franchisees to follow in preparing their marketing plan on a local level. Even if franchisors provide national marketing, franchisees may also be permitted and possibly encouraged to perform local marketing initiatives on their own within certain restrictions. Approval is usually necessary prior to proceeding with the local plan.
Franchise advertisements can be a challenge because you need to come up with your own tools for building a local client and customer base. It is an inexpensive way to reach a lot of people with a set amount of money by using signs and banners as promotional materials in your franchise advertising plan. Signs can be used inside your establishment and outside, listing specials, sales, and promotions. Brightly colored signs on plastic, metal, or wooden blanks attract the eyes of passers-by and bring in potential new clients. Additionally, establishing a brand name for your franchise in your local market is very important for a franchise. There are many people who may need your service, but may not know of your business. Effective local franchise advertisements will put you in front of these buyers when they are ready to buy.
The first thing that you need to keep in mind when creating your franchise marketing plan is your goal. Are you looking to establish your franchise locally or you are looking for nation-wide or overseas expansion? Identifying who your potential franchisees are is also vital. Knowing who your customers are will help you target your marketing activities into reaching the optimum number of sales. It will also help you establish reasonable franchise fees and royalties. You can research other franchise businesses offering similar products and services and see who their franchisees are.
Your franchise marketing plan should include a great franchise advertising strategy as well. There is a significant difference between franchise advertisements and advertising any other consumer targeted business. Often young franchisors fail to prepare good advertising plan just because they do not have the knowledge and the experience. You can either hire a professional franchise advertising company or work through a franchise consultant, who will help you with all that you would need. There are also some legal requirements that must be met in order to stay out of trouble and to adhere to the local laws.
Set a budget and stick to it. Working within strictly defined financial borders may be crucial for success of your business. Many franchises fail because they try to compete directly with large and well established businesses offering similar products or services. In fact you do not need to match your marketing budget with their in order to achieve great results. Work on product differentiation instead and try to find unique ways for franchise promotions.
Once you launch your franchise brand, try to gather as much information as possible from your franchisees. This will give you plenty of ideas how to develop your marketing strategy further.
Franchise sales encompass a large array of different types of franchise offerings. The traditional franchise is the owner operator model where typically a moderately well capitalized individual buys into the rights to run and manage a single location of the franchise offering. This approach is most effective when using a sales presentation that evokes an emotional response. Franchise sales is about creating that emotional connect with the buyer, similar to the process of selling a home, the buyer falls in love with the idea and the notion that they will be in that house, neighborhood, they picture their family being raised in that home and envision the future they will have there. The individual franchise buyer is typically not a former executive or highly educated individual with millions to invest, it typically is just someone who wants to get into business for them and they know they need someone's help doing it.
Marketing Plan Development
Provide your franchisees with a comprehensive franchise marketing plan that educates them on the best practices in marketing your franchise system. Developing a marketing plan that is a “living" document and which will grow with a company and evolve as new ideas will prove to be successful.
For most franchise systems, it is extremely important to create a marketing strategy of "best practices" that is complemented by an effective suite of collateral materials and marketing tools that can be implemented by franchisees on the local level. E-mail campaigns, direct marketing, advertising, promotional strategies, referral programs and online marketing programs must be custom-fit, and just made to match the franchisee needs and capabilities. To increase adoption of marketing initiatives, we create elaborate internal marketing programs that give franchisees the why, how and when. To educate franchisees, host marketing webinars that help your franchisees understand the value of marketing and give them the initiative to grow their business. The franchisee marketing programs focus on ease of implementation, economies of scale and using technology to help drive revenue growth. The programs are designed to increase brand awareness and unit revenues through cost-effective, "neighborhood marketing" strategies that increase average visitation and boost referrals.
Franchise Brand Development / Standards
As any franchise systems begin to grow, brand control becomes extremely important to maintain consistency. The brand development programs define your brand from “top to bottom" paying close attention to every aspect of your brand – how it is used, what it looks like, what it sounds like, and what triggers the connection with your customers.
For all kinds of businesses a good reputation is very important. A business’ reputation or brand is its primary marketing tool. A business can be able to count on excellent sales numbers from loyal customers if it has a very good brand. You will need to invest a significant amount of resources in order to ensure that you build up the brand of your business properly, if you start a business from scratch. For many first time business owners, this is something that they can barely afford. This is why, it is much better that these kinds of business owners go with a franchise instead of starting a business from scratch. In franchising, you no longer need to build up the brand of the business. The franchiser has already taken care of this for you. You will be effectively using the franchise brands in franchising business. This ensures that you will not have a hard time promoting your business venture to your market.
Franchise Sales and Promotional Collateral
Providing franchisees with a suite of branded collateral materials to promote their business on the local level is one of the most important tasks to accomplish. This will help franchisors create comprehensive marketing collateral systems that convey the brand in the most powerful way possible, each piece having the ability to be easily customized for local implementation.
Direct Marketing
From national customer prospecting campaigns to localized targeting, this marketing communications provides list management, creative design, printing, mailing, and results analysis services for all types of prospecting and customer loyalty campaigns.
Email Marketing Templates / Systems
It is vital for many franchisors to implement franchise development email campaigns that filter through the hundreds or thousands of unqualified or uninterested leads they receive through various portals. This will help the franchisors to develop email messages and corresponding landing pages that increase the effectiveness of email campaigns. In doing so, they can maintain a streamlined simplicity in the outbound e-mail, while the corresponding landing page utilizes each client's brand elements and key messaging. The result is a higher rate of conversion for those candidates who are qualified.
Hence you must plan a proper franchise marketing strategy for your business and ensure that you work around it regularly and optimize its results.
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Article Source :
http://www.articleseen.com/Article_Creating A Franchise Marketing Strategy For Your Business._123194.aspx
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Author Resource :
Sparkleminds is one of its kind organizations in India that works in the field of franchise advertisements, franchise marketing, franchise sales, and creating awareness among masses about various franchise brands. This particular article illustrates these aspects further.
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Keywords :
Franchise Brands, Franchise Advertisements, Franchise Sales, Franchise Marketing.,
Category :
Business
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Business
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