3 Top Tips to Creating an Effective Franchise Marketing Strategy.A Guide by London Marketing Agency Only Marketing

Franchise Marketing

0 The franchising industry grew in 2012 from the previous year, with establishments increasing at about 2% and employees by about 3%.

0 Output from franchising also grew – by around 5% - making it into and becoming an important economic indicator for many countries.

0 With many franchisors scrambling to find the best gaps in the market and for strategies to exploit the marketplace in their favour, it is clear that franchisees have a fairly free reign when weighing up their best options.

0 That is why it is important to make sure you sell yourself and more importantly your ideas and regulatory compliance measures carefully.

0 We have made a list of the 5 best ways in which you can plan and implement your franchising strategy in order that you stand out from the competition.

Plan Your Strategy

0 Knowing the business inside out may be something that seems obvious and inherently linked to your success.

0 However many underestimate the scale to which they should research and understand their market profusely.

0 Ask yourself ‘What are my end goals’, and ‘What do I realistically want to achieve from this?’.

0 It is also important to have measures in place that you can track and evaluate your success as you go - creating room to adapt and change your strategy if need be.

Identify Partners and Contributors

0 Going solo may sound like the kind of franchise you want to pursue, but everyone in franchising needs help from others; whether they are advertisers, marketers, franchisee advisory groups or franchise consultants.

0 Discounting them will harm you; especially when things go wrong and you need advice and direction.

0 Look for the many resources found online about assisting franchisers and franchise marketing.

0 Remember also that a franchiser is providing the bulk in capital, investment and resources and so have to be considered an asset when extra demands are needed.

Consider Your Online Presence

0 Online franchises and affiliates are set to grow this year as more and more people look to alternate revenue streams.

0 Also, the internet as a medium for promoting, advertising and distributing your products or services could be the most crucial part of your business mix.

0 It is therefore important to consider online marketing and franchiser brands. 0 Who to target, who to reach out to, and how to get visitors to your site and

most importantly converting are all major issues that could make or break your franchising efforts.

0 Continual tweaking of your strategy is crucial at this time, and success in online marketing won’t happen overnight.

0 Look to hire a team with experience in this area and assess the ways in which you want your online presence to be presented to your customers, and you will find it can be a lot simpler than you thought before.

Conclusion0 When searching for a new franchising topic you may find that marketing is the

first and ever-present centrally important issue. 0 By marketing your product or service effectively you will find happy customers

and returns on your investment, which, at the end of the day is what we are all searching for; your livelihood depends on this one central issue.

0 Franchise marketing is, however, much more than just researching the marketplace and coming up with a strategy.

0 Continual monitoring and tweaking of customer habits, budgets and expectations is important too, as is the front end - customer service and management.

0 But by planning your strategy well and understanding what drives people to certain markets and their expectations, you will be well placed to experience good rates in return.

0 The time and diligence you put in early on can pay big dividends in the long term, and you will be happy you made the effort at the end of the financial year.